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Hyderabad-based infra firm IVRCL’s MD booked in 4837cr alleged bank fraud

The agency has booked the Hyderabad-based company and its directors on a complaint from the State Bank of India, CBI Spokesperson RC Joshi said. 

The CBI has alleged that the company had availed credit facilities from consortium members and cheated them by not repaying the loan amount.(HT Archive)
Published on Dec 30, 2020 10:11 PM IST
Hyderabad | ByPress Trust of India | Posted by Shankhyaneel Sarkar

After mega-merger effective today, six banks will cease to exist

Following the consolidation, there will be seven large public sector banks (PSBs), and five smaller ones.

Oriental Bank of Commerce will merge into Punjab National Bank as part of government’s consolidation plan.(HT Photo)
Updated on Apr 01, 2020 08:33 AM IST
Hindustan Times, New Delhi | ByHT Correspondent

Govt sets up board to examine bank frauds of at least 50 crore before agencies step in

The formation of the board was announced in an order issued by the Central Vigilance Commission (CVC) on Wednesday.

Government has constituted a five-member Advisory Board to vet all alleged frauds of a magnitude of at least <span class='webrupee'>₹</span>50 crore in state-run banks and public financial institutions. (Representative Image)(Getty Images/iStockphoto)
Updated on Jan 17, 2020 03:29 AM IST
Hindustan Times, New Delhi | By, New Delhi

PNB, Union Bank get in-principal nod from government for proposed merger

The government in August had announced four major mergers of public sector banks, bringing down their total number to 12 from 27 in 2017, a move aimed at making state-owned lenders global sized banks.

Punjab National Bank is the transferee bank and Oriental Bank of Commerce and United Bank of India as transferor banks.(REUTERS Photo)
Updated on Nov 18, 2019 09:19 PM IST
New Delhi | ByPress Trust of India

Two Andhra lawmakers write to FM on move to merge Andhra Bank with UBI

In his letter, Rao said Andhra Bank, founded in 1923 by Bhogaraju Pattabhi Seetharamayya, a renowned freedom fighter and associate of Mahatma Gandhi, was the only nationalized bank founded in Andhra Pradesh and was considered the pride of the Andhra people in the last 96 years.

Union Finance Minister Nirmala Sitharaman announced the merger of 10 state-run banks into 4 banks in New Delhi on Friday. Andhra Bank is due to be merged with Union Bank of India as part of banking sector reforms.(HT PHOTO.)
Updated on Aug 31, 2019 09:24 PM IST
Hindustan Times, Hyderabad | By
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