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syndicate bank

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Oriental Bank of Commerce will merge into Punjab National Bank as part of government’s consolidation plan.(HT Photo)

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

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON APR 01, 2020 08:33 AM IST
Following the consolidation, there will be seven large public sector banks (PSBs), and five smaller ones.
Finance Minister Nirmala Sitharaman(ANI photo)
Finance Minister Nirmala Sitharaman(ANI photo)

Govt closely monitoring coronavirus impact on economy: Sitharaman

New Delhi | By Press Trust of India
UPDATED ON FEB 26, 2020 10:08 PM IST
The minister also said that the process of merger of public sector banks was underway as per the schedule. The government has announced to merge 10 state-run banks to create four big lenders.
The actions are based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with its customers, said the RBI.(Reuters Photo)
The actions are based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with its customers, said the RBI.(Reuters Photo)

RBI imposes Rs 1 crore fine on LVB, Rs 75 lakh on Syndicate Bank for violating norms

Mumbai | By Asian News International
UPDATED ON OCT 15, 2019 12:18 PM IST
This penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act 1949, the central bank said in a statement late on Monday.
The bench also asked NBCC, the receiver and court-appointed forensic auditors to work out the modus-operandi and feasibility to sell 5,229 unsold flats.(HT image)
The bench also asked NBCC, the receiver and court-appointed forensic auditors to work out the modus-operandi and feasibility to sell 5,229 unsold flats.(HT image)

Find ways to release loan to homebuyers: Supreme Court

New Delhi | By HT Correspondent
UPDATED ON SEP 12, 2019 05:59 AM IST
With regard to payment of service tax, the court clarified, the liability should be imposed on flat buyers only to the extent of the amount they have not paid.
Three armed miscreants looted Rs 15 lakh from a bank in Gavana village under Chhaprauli Police Station.(Twitter: rampurpolice)
Three armed miscreants looted Rs 15 lakh from a bank in Gavana village under Chhaprauli Police Station.(Twitter: rampurpolice)

Three armed goons loot Rs 15 lakh from bank in Uttar Pradesh

Baghpat | By Press Trust of India
PUBLISHED ON SEP 10, 2019 08:55 AM IST
The trio, who had their faces covered, barged into the Syndicate Bank branch and thrashed a peon before looting the money including Rs 9 lakh from the cash counter and Rs 6 lakh from a locked almirah, SP Pratap Gopendra Yadav said.
Finance Minister Nirmala Sitharaman during a media briefing on the Gross Domestic Product (GDP) Index at the National Media Centre in New Delhi on Friday.(Sonu Mehta/HT)
Finance Minister Nirmala Sitharaman during a media briefing on the Gross Domestic Product (GDP) Index at the National Media Centre in New Delhi on Friday.(Sonu Mehta/HT)

What will change, what won’t for account holders as 10 PSU banks are merged into 4

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON AUG 30, 2019 07:28 PM IST
The mergers are a continuance of the government’s attempt to consolidate the public sector banks. One of the announcements made by Finance Minister Nirmala Sitharaman on Friday was the merger of Indian Bank with Allahabad Bank.
Finance Minister Nirmala Sitharaman(Photo: ANI)
Finance Minister Nirmala Sitharaman(Photo: ANI)

PNB, Oriental Bank and United Bank to be merged: FM Nirmala Sitharaman

New Delhi | By Press Trust of India
UPDATED ON AUG 30, 2019 06:06 PM IST
In a major development, the government on Friday announced merger of Oriental Bank of Commerce and United Bank with Punjab National Bank.
Nirav Modi, India's fugitive jeweller to the stars, refused to submit to extradition when he appeared in a London court on March 20(HT Photo)
Nirav Modi, India's fugitive jeweller to the stars, refused to submit to extradition when he appeared in a London court on March 20(HT Photo)

Nirav Modi’s sister Purvi Mehta helped divert Rs 1,201 crore using shell firms: ED

Hindustan Times | By Charul Shah, Mumbai
UPDATED ON MAR 22, 2019 09:54 AM IST
Purvi Mehta, director of firms in Dubai, Hong Kong, says she is unaware of the transactions
CBI said the company allegedly siphoned off the funds for extraneous uses and caused wrongful loss of Rs 102.87 crore (approx.) to the bank.(Bloomberg)
CBI said the company allegedly siphoned off the funds for extraneous uses and caused wrongful loss of Rs 102.87 crore (approx.) to the bank.(Bloomberg)

CBI files charge sheet against industrialist AC Muthiah in graft case

Press Trust of India | By Press Trust of India, New Delhi
PUBLISHED ON JUN 08, 2018 09:29 PM IST
The promoters of First Leasing Company of India (FLCI) AC Muthiah, then chairman, and Farouk Irani, then managing director, have been charged by the agency with criminal conspiracy, cheating, forgery and destruction of evidence in the document filed before a Chennai special court
The Reserve Bank of India headquarters in Fort, Mumbai.(Aniruddha Chowdhury/Mint)
The Reserve Bank of India headquarters in Fort, Mumbai.(Aniruddha Chowdhury/Mint)

Bank stocks rise up to 5% on RBI move, even as Sensex trades lower

Press Trust of India, Mumbai | By HT Correspondent
PUBLISHED ON APR 03, 2018 02:02 PM IST
Bank stocks gained after the Reserve Bank on Monday allowed lenders to spread provisions for bond losses in the third and fourth quarters of FY18 over the next four quarters.
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