ICRA revises YES Bank’s outlook from ‘positive’ to ‘stable’ on RBI order on Rana Kapoor

ICRA revises YES Bank’s outlook from ‘positive’ to ‘stable’ on RBI order on Rana Kapoor

2018-09-28T13:08:23+00:00 On

ICRA, a part of Moody’s Investors Service, revised its outlook on YES Bank’s borrowings to ‘stable’ from ‘positive’ on the basis of the Reserve Bank of India’s direction last week cutting short the tenure of the company’s CEO Rana Kapoor. “The revision…

MARKET TURMOIL: RBI, SEBI says ‘closely monitoring’ situation

MARKET TURMOIL: RBI, SEBI says ‘closely monitoring’ situation

2018-09-23T19:43:55+00:00 On

The Reserve Bank of India and the Securities and Exchange Board of India are “closely monitoring recent developments in financial markets” and are ready “to take appropriate actions, if necessary,” India’s central bank said in a one-line statement on Sunday. The move…

HCL to recruit over 1,000 finance graduates in Vijayawada

HCL to recruit over 1,000 finance graduates in Vijayawada

2018-09-13T10:40:09+00:00 On

HCL SSHS, a joint venture between HCL Technologies and US-based State Street Corporation, said it plans to recruit over 1,000 graduates and post-graduates in commerce, accountancy and finance for its new office in Ganavaram, Vijayawada. The new office has been set up at Medha…

Yes Bank raises another $400 mln via syndicated loan for GIFT ops

Yes Bank raises another $400 mln via syndicated loan for GIFT ops

2018-09-11T09:31:00+00:00 On

YES BANK, India’s fourth largest private sector Bank, said it has taken a syndicated loan of $400 million loan facility from a syndicate led by Bayerische Landesbank, Commerzbank, CTBC Bank, First Abu Dhabi Bank PJSC, Korea Development Bank, State Bank of India, United…

Bank frauds up 359% in four years at nationalized banks

Bank frauds up 359% in four years at nationalized banks

2018-08-03T15:49:33+00:00 On

The amount of money swindled by fraudsters from nationalized banks has jumped 359% in four years, RBI data revealed. The trend at nationalized banks is in contrast to that at private sector banks and SBI, where frauds are being increasingly brought under…

Reliance Jio and SBI announce new partnerships

Reliance Jio and SBI announce new partnerships

2018-08-02T19:04:05+00:00 On

Reliance Jio and State Bank of India today announced further deepening of their financial relationship, including deeper penetration of SBI services into Jio’s customer care app MyJio. “MyJio, one of India’s largest over-the-top (OTT) mobile applications will now bring in financial services…

Reliance Industries 10 rupees away from $100 bln market cap, after TCS

Reliance Industries 10 rupees away from $100 bln market cap, after TCS

2018-07-12T10:57:25+00:00 On

Three months after Tata Consultancy Services became the first Indian company to achieve a market capitalization of $100 bln (Rs 6.85 lakh cr), Reliance Industries is close to the $100 bln mark as well. At present, there are only around 100 companies…

Yes Bank gets SEBI approval for starting FII services

Yes Bank gets SEBI approval for starting FII services

2018-06-18T09:51:39+00:00 On

YES BANK, India’s 4th largest private sector Bank, said it has received approval from Securities and Exchange Board of India (SEBI) for acting as Custodian of Securities, allowing it to act as an intermediary for foreign institutional investors or FIIs. “The Custody…

Fitch downgrades PNB’s Viability Rating by two notches

Fitch downgrades PNB’s Viability Rating by two notches

2018-06-04T16:09:32+00:00 On

Fitch Ratings has downgraded the ‘viability rating’ of scam-hit Punjab National Bank by two notches to ‘b’ from ‘bb-‘, citing a sharp rise in loan defaults. However, the bank’s ‘default rating’ has been kept at BBB-, given the high probability that the…

ICICI Banks denies asking Kochhar to go on leave, no search committee

ICICI Banks denies asking Kochhar to go on leave, no search committee

2018-06-01T10:19:53+00:00 On

ICICI Bank said it did not ask its managing director, Chanda Kochhar, to go on leave nor has it appointed any search committee to find her successor. “She is on her annual leave which was planned in advance,” it said in response…