Moody's Investors Service has downgraded ratings of four state-run banks citing deteriorating quality of loans following the coronavirus pandemic

Talking about India's short- and medium-term growth prospects, Subbarao expressed that they appear grim and the Centre should not make much of the economic activity coming back from the depressed base of coronavirus-induced lockdown

Canara Bank has filed a complaint with the CBI, alleging that Punjab Basmati Rice has cheated six banks to the tune of Rs 350 crore

The Delhi government is combating the pandemic by increasing beds for COVID-19 patients, raising the number of tests, providing oxymetres and oxygen concentrators to patients in home isolation

Ukrainian government said earlier this month it expected to receive this loan by the end of June after securing a $5 billion loan program from the International Monetary Fund on June 9

The IMF on Tuesday forecast a deeper global recession than initially anticipated, as business closures, travel restrictions and social distancing measures persist in most countries. It now anticipates a global GDP contraction of 4.9% this year

The Union Bank chief also said small and medium enterprises (SMEs) have real opportunities to plug into the global supply chain as more companies seek to diversify sourcing inputs

The cash transfer of Rs 1,000 per person each month is expected to make a big difference as it would help the common man to pay for all the emergency needs, Banerjee said

Bank merger: The amalgamation of Syndicate Bank into Canara Bank will create the fourth-largest public sector bank with Rs 15.20 lakh crore business and a network of 10,324 branches

Union Bank CEO Rajkiran Rai G said harmonisation of human resources has been completed and the board has approved all the products, processes and policies for the amalgamated entity

The government on March 4 had notified the amalgamation schemes for 10 state owned banks into four as part of its consolidation plan to create bigger size stronger banks in the public sector

\"The only difference is that instead of having physical meetings with the field staff we are now having video conferences as the process has entered its last leg,\" a senior official of Allahabad Bank said

Mega consolidation would help create banks with scale comparable to global banks and capable of competing effectively in India and globally

The new entity will be the second largest bank in the country after State Bank of India (SBI) with a total business volume of Rs 18 lakh crore

Last year, the big idea was overseas borrowing in foreign currency, even though it was not explicitly spelled out in the report. The plan was announced in the Budget a day later on 5 July, 2019

Part II of this two-part article looks at some of the solutions that present themselves and address the pressing concerns of raising income and demand - that include raising minimum wages, expanding the job guarantee scheme, higher government investment in infrastructure etc. both as short-run and long-run measures

United Bank of India MD and CEO Ashok Kr Pradhan says the sovereign status of the amalgamated entity will not be diluted as government holdings in these banks are very high

Moody's said if India's sovereign rating is downgraded to Baa3 from Baa2, the agency will downgrade the ratings of these companies accordingly

Of this, the maximum 2,568 branches of the SBI were affected due to merger or closure in the last five financial years

Hanung Toys and Textile Ltd owes Rs 2,300 crore from a consortium of 15 lenders led by PNB, which alone has exposure of Rs 599 crore