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Over 5,000 ATMs shutdown in last one year, this is the reason why
Mon, May 20, 2019
The number of bank ATMs in the country is continuously declining due to rapidly growing digital banking. The banks are cutting their costs by reducing the number of ATMs across the nation.
Mission Samadhan has played an important role in reducing net NPA burden: Deenbandhu Mohapatra, Bank of India
Fri, May 17, 2019
Dinabandhu Mohapatra, MD & CEO Of Bank of India, speaks about quarter results and reasons for betterment, provisioning coverage ratio and slippages, NCLT accounts and 'Mission Samadhan' among others during a conversation with Anurag Shah, Zee Business. Excerpts:
Bank of India posts Rs 252 crore profit in Q4
Thu, May 16, 2019
The asset quality of the bank improved slightly with the gross non-performing assets (NPAs) coming down to 15.84 per cent of gross advances at March-end 2019 against 16.58 per cent as of March 31, 2018. At the same time, net NPAs came down to 5.61 per cent from 8.26 per cent.
The Big Bank Theory! PNB + UBI + BOI merger next after BoB, Vijaya, Dena Bank?
Tue, Apr 30, 2019
Merging small banks is one of the ways in which the government is trying to tackle the NPA crisis.
Bank of India to sell 25.05 pct stake in life insurance JV for Rs 1,106 cr
Fri, Apr 05, 2019
The proposed stake sale is part of BoI's plan to offload some of its non-core assets and raise funds. Shares of BoI were trading at Rs 100.15 per piece, down 0.84 per cent over previous close on the BSE.
Five PSU lenders get capital infusion of Rs 21,428 crore from government
Thu, Mar 28, 2019
This capital infusion is for the current fiscal ending March 31, 2019.
Ahead of Budget 2019, good news! 3 banks, Bank of India, Bank of Maharashtra, Oriental Bank of Commerce, taken out of RBI's PCA framework
Fri, Feb 01, 2019
"In the case of Oriental Bank of Commerce, though the net NPA was 7.15 per cent, as per the published results of third quarter, the government has since infused sufficient capital and bank has brought the net NPA to less than 6 per cent."
Govt to infuse Rs 10,086 crore in Bank of India
Sat, Dec 29, 2018
State-owned Bank of India Saturday said the government has decided to infuse Rs 10,086 crore in the bank as part of Rs 28,615 crore capital infusion to be done in about half a dozen public sector lenders.
SBI, PNB, BoB, HDFC, ICICI, Kotak, other bank customers, ATM cloning fraud scare to stop haunting soon
Sun, Dec 16, 2018
ATM cloning fraud: To save the customers, banks have started making changes to software and hardware in ATMs to ensure the machine shuts down automatically as soon as it suspects cloning.
Cash rain! ATM delivers Rs 500 when asked for Rs 100 - Here's what happened next
Sun, Dec 09, 2018
People in Alirajpur, Madhya Pradesh were in for a surprise when a bank ATM started delivering Rs 500 from the Rs 100 cassete
NCLT Delays force 13 banks to auction off stressed corporate loans of Rs 33,949 cr to ARCs
Fri, Oct 12, 2018
Delays in resolutions at National Company Law Tribunals (NCLT) have forced 13 banks to auction off stressed corporate loans of Rs 33,949 crore to asset reconstruction companies or distressed funds with foreign funding.
SBI, HDFC, BoB, Axis, ICICI, PNB, Canara, other banks' customers may do this again?
Sun, Oct 07, 2018
Even as the Supreme Court has ruled that bank customers do not need to link their accounts with Aadhaar, the Union government-led by Prime Minister Narendra Modi has the power to make it mandatory again.
Did RBI just impose Rs 10 mn penalty on your bank? Check now
Fri, Sep 07, 2018
These banks were blamed for contravention of instructions contained in Master Circular on Fraud – Classification and Reporting issued by RBI.
Syndicate Bank, OBC, Bank of India raise rates by up to 0.15%
Fri, Jun 08, 2018
The MCLR of six-month tenor will bear interest rate of 8.45 per cent, up 0.10 per cent from current rate of 8.35 per cent. BoI said the enhanced rates would come into effect from June 10, 2018. Oriental Bank of Commerce (OBC) has raised its lending rates for select tenors by up to 0.15 per cent to be effective from June 11.
Bank of India hikes rate by 0.10% from Jun 10 for various tenors
Fri, Jun 08, 2018
The bank has increased MCLR rates by 10 bps (or 0.10 per cent) for various tenors, it said in a statement. "Bank of India has revised upward marginal cost-based lending rate for one-year at 8.50 per cent while overnight rate up by 10 bps at 7.90 per cent," the statement said.
Bank of India posts $589 million fourth-quarter loss, misses estimates
Mon, May 28, 2018
Bank of India Ltd reported a net loss of 39.69 billion rupees ($588.87 million) for the fourth quarter, as the state-owned lender set aside more funds for bad loans.
Banking scam: 21 PSBs lost Rs 25,775 crore in 2017-18, says RBI in RTI reply
Mon, May 28, 2018
More stunning revelations of banking frauds are pouring in after the Rs 14,000-crore Punjab National Bank (PNB) fraud case came to light on January 16 this year. A Right to Information (RTI) reply has revealed that 21 public sector banks (PSBs) have incurred of Rs 25,775 crore losses due to banking frauds in the financial year 2017-18
Ketan Parekh, Bank of India scam: Lender gets back Rs 137 cr in Harshad Mehta-type swindle
Mon, May 21, 2018
Bank of India’s (BOI) 18-year-old-year old legal struggle against the scam-tainted Ketan Parekh has finally paid off. The government-owned bank has managed to recover the entire money in the Rs 137 crore pay-order scam involving Parekh’s group of companies and Ahmedabad-based Madhavpura Mercantile Cooperative Bank Ltd (MMCB)
BoI to receive Rs 1993 crore from Tata Steel-Bhushan Steel deal
Sun, May 20, 2018
The state-owned Bank of India (BoI) would be able to realise around Rs 1993 crore from the first successful NCLT resolution concerning Tata Steel and Bhushan Steel, an official said. The amount would not include hair-cuts, BoI managing director and chief executive officer D Mohapatra said
Home loan: Is this right time to go for it, as banks may raise rates?
Mon, May 14, 2018
IDBI Bank has already increased its one-year MCLR rate to 8,65 percent, making its loans more expensive for customers. The bank has also increased its two-year and three-year MCLR rate to 8.7 percent and 8.8 percent, respectively