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FINANCIAL NEWS IN A NUTSHELL

Yatheendradas C.k. at 06:24 AM - Jan 17, 2019 ( ) Views: 117

The government today approved a
capital infusion of Rs 6,000 crore in
state-owned Exim Bank to expand its
business. The Union Cabinet, chaired by
PM Modi, also approved an increase in
the bank’s authorised capital from Rs
10,000 crore to Rs 20,000 crore. -Business Line


RBI Governor Shakkanta Das will meet
industry chambers on Thursday to
understand their issues and concerns. Aer taking over as the 25th Governor of
the RBI last month, he has been holding
consultations with various stakeholders
including banks, NBFCs and MSMEs. -Business Line


The RBI today imposed a Rs 1-crore
penalty on Bank of Maharashtra for
non-compliance of KYC guidelines and
fraud-classificaon norms. This penalty
has been imposed taking into account
the failure of the bank to adhere to
direcotins issued by the RBI, the central
bank said in a statement. -Moneycontrol.com


ICICI Bank today said RBI has given nod
for the reappointment of Vishakha Mulye
as bank's execuve director for 2
years.The reappointment is effecve
from January 19, 2019, ICICI Bank said in
a regulatory filing. -Moneycontrol.com


Jet Airways today said SBI along with
other lenders and stakeholders is
working on a comprehensive resoluon
plan to turnaround the airline. The full
service carrier, which has been grappling
with financial woes, defaulted on loan
repayment to a consorutim of Indian
banks led by SBI on Dec 31, 2018. -Business Line


SBI plans to sell over Rs 15,000 crore
worth bad loans belonging to Essar Steel
to recover its dues from the debt-laden
steel maker. “SBI invites expression of
interest (EoI) from banks/ ARCs/ NBFCs/
FIs for the proposed sale of its non
performing financial asset with total dues
of Rs 15,431.44 crore,” the bank said in
an adversement. -Business Line


DCB Bank posted a 50.8% increase in net
profit at Rs 86.10 crore for the third
quarter ended Dec 31, 2018. The bank
had recorded a net profit of Rs 57.01
crore in the corresponding quarter of the
previous fiscal. -Business Line


In a first for a PSB, the Syndicate Bank is
settng up a plaorm for loan approvals
within 15 minutes. Top officials of the
bank said that loans within limits of ₹5 cr
for housing, retail and MSME segments
can be applied online using the platform
and will be in-principal approved within
15 minutes. -Business Line


Shares of IDFC First Bank, combined
enty formed aer the merger of Capital
First with IDFC Bank, got listed on the
bourses on the NSE and the BSE today. -Business Line


A 12-bank consorum led by SBI has
moved a Mumbai court seeking the
release of Vijay Mallya’s assets that the
Enforcement Directorate has aached so
that these can be sold “immediately” to
realise the best value. The banks urged
the court hearing the Prevenon of
Money Laundering Act (PMLA) case that
the assets be restored to them so that
they can “appropriate the proceeds”
without delay, they said in a joint
applicaon. -Economic Times


The 9-day-old strike by around 32,000
BEST workers was called off today. The
BEST workers’ union earlier on agreed to
call off the sr after accepng the
‘10-step’ pay hike to be granted to them
as an interim measure by the civic
transport undertaking’s management. The Brihanmumbai Electric Supply and
Transport Undertaking (BEST) workers,
its management and other parties
concerned will now go for mediation to
resolve their dispute. The state
government had last week invoked the
Maharashtra Essenal Services
Maintenance Act (MESMA) against the
striking employees. -Business Line


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