Bank stocks were under pressure with the Nifty Bank index falling 3 percent from its intraday high on Friday, after rating agency India Ratings and Research (Ind-Ra) revised its outlook on the banking sector to ‘Negative’ for the second semester. – October to March (H2FY21) from ‘Stable’. Bandhan Bank, RBL …
Read More »Lenders Have RBI June 7 Circular To Resolve Stress In Absent IBC: Rajnish Kumar
Although new cases under India’s insolvency law have been suspended for six months, lenders have the RBI’s stressed assets resolution framework released on June 7 last year to appeal, said Rajnish Kumar, chairman of the State Bank of India (SBI). In June, President Ram Nath Kovind signed an ordinance suspending …
Read More »Who can apply? What will be the compensation, pension, tip?
The State Bank of India (SBI) has planned to introduce a voluntary retirement plan (VRS) for its employees. Named ‘Second Innings Tap VRS-2020’, the proposed scheme “will provide a pleasant solution to employees who expressed their desire to make a strategic shift in their vocations, whether due to career growth …
Read More »SBI says its proposed VRS is a ‘nice solution’ for more than 30,000 employees
“There have been media reports about the ‘On Tap VRS’ scheme proposed to be introduced by SBI. The reports have been interpreted as a cost-cutting measure and the Bank’s intention to reduce the workforce. The bank has been friendly with employees and is expanding its operations and requires people, which …
Read More »SBI plans a VRS scheme covering 30,000 employees while seeking to optimize costs
In an attempt to optimize its costs, the State Bank of India (SBI) has planned a voluntary retirement plan (VRS) under which some 30,190 employees are eligible. The total employee strength of the nation’s largest lender was 249,000 at the end of March 2020, compared with 257,000 a year ago. …
Read More »Eligibility, salary, pension, other benefits
State Bank of India, the country’s largest lender, has planned a voluntary retirement plan (VRS) to optimize the bank’s human resources and costs, according to the news agency. PTI. At least 30,190 employees will be eligible for VRS, according to the report. ‘Second Innings Tap VRS-2020’, the proposed scheme “will …
Read More »RBI renews rules for priority sector loans and adds new companies
MUMBAI: The Reserve Bank of India (RBI) has revised its Priority Sector Lending (PSL) rules to boost flows of funds to districts that have been foreclosed and has doubled its cap for healthcare infrastructure to Rs 10 crore and for renewable energy to Rs 30 crore. According to the new …
Read More »FinMin orders government-owned banks to invoke personal guarantees from defaulters
Following a push from the Ministry of Finance, Indian public sector lenders, led by the State Bank of India, are preparing the list of all defaulters who had given their personal guarantees while taking loans and defaulted, resulting in bankruptcy proceedings. According to the council, the personal guarantees of all …
Read More »OSE complains to CBI after defaulting $ 411 crore to flee the country
[ad_1] Three Ram Dev International promoters, recently hired by the CBI for allegedly cheating a consortium of six banks in the amount of ₹ 411 crore, have already fled the country before the State Bank of India reached the agency with the complaint officials said Saturday. . The CBI had …
Read More »Bank defaulters flee the country, CBI files case after OSE complaint after 4 years
[ad_1] The State Bank of India (SBI) filed a complaint with the Central Bureau of Investigation (CBI) against a Delhi-based Basmati export company, alleging that its promoters, who misled a consortium of six banks for Rs 414 crore They are missing and have fled the country. According to the complaint, …
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