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Author Archives: Askbanking

These 11 Public Sector Banks are Now On RBI Watchlist

PCA-list of banks

Reserve Bank of India (RBI) has listed out the 11 Public sector banks on their watchlist and monitoring their performances. According to central bank, these 11 weak PSBs out of the 21 State-owned banks are under the PCA, which kicks in when banks breach regulatory norms on issues such as minimum capital, amount of non-performing assets and return on assets. These 11 ...

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UCO Bank Ex CMD Ajay Kaul Under CBI Scanner for Rs 621 Crore Fraud

UCO Bank Fraud

Debt ridden Public Sector UCO bank has filed the fraud allegation charges against their former CMD & CEO Ajay Kaul in Rs 621 Crore loan fraud. Based on the FIR filled by UCO bank, CBI has booked the formed CMD in fraud cases and conducted searches in at least 10 places, eight of which are in Delhi and two others in ...

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Get Cashbacks & Incentives on Using BHIM Application

BHIM promotional cashbacks & incentives – Government of India has decided to launch the promotional cashback’s & incentives for using Bharat Interface for Mobile (BHIM). BHIM is competing with other players in the market like Paytm, Google Tez , PhonePe etc. Government is launching the BHIM cashback offers on April 14, the birth anniversary of Babasaheb Ambedkar. Cashback incentives and offers would ...

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RBI Slaps Rs 3 Crore Fine on IDBI Bank

RBI has imposed a penalty of Rs 3 crore on IDBI bank for non-compliance to the Income Recognition and Asset Classification (IRAC) norms. RBI has informed the bank vide its letter dated April 10, 2018, a monetary penalty of Rs 30 million on the Bank in exercise of the powers…for non compliance with the directions issued by it on Income Recognition ...

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Axis Bank Acquisition Buzz – To Be Bought By Kotak Mahindra Bank


If we may believe on a report by brokerage firm Nomura Financial Advisory Services, the time is ripe for Kotak Mahindra Bank to buy Axis Bank. Bank could be a potential acquisition target after its board accepted managing director Shikha Sharma’s plea to cut her fourth three-year term to seven months under RBI pressure. Shikha Sharma, who joined Axis Bank in 2009, ...

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SBI Batted for Some Public Sector Banks Privatisation

State Bank of India (SBI) chairman Mr. Rajneesh Kumar has batted for the privatization of some of the state running Public Sector Banks. Although he raised the concern on the timing. He said that the time, though, is not right at present, because these banks would need time to be strengthened and one has to put behind the turmoil in ...

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Rs 9 Crore Penalty on Bank of Baroda Under Anti Money Laundering


The Financial Intelligence Unit (FIU) has slapped Rs 9 crore penalty on Bank of Baroda for not adhering the anti-money laundering norms in the old case related to non reporting of suspicious transactions linked to the Rs 6,000 crore scam in its Delhi-based branch.  Maximum penalty of Rs 1 lakh, as per Prevention of Money Laundering Act (PMLA), for each ...

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RBI Holds Rs 2.2 Crore Bonus of ICICI Bank’s Chief Chanda Kochhar

Reserve Bank of India (RBI) has held the bonuses to the heads of top private banks i.e. Axis Bank, HDFC Bank & ICICI Bank on the size of the payouts citing the lenders’ performance issues for the financial year ended March 31, 2017. ET reported the news. ICICI’s board had approved a bonus of Rs 2.2 crore for CEO Chanda Kochhar Axis ...

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