Axis Bank, Kotak Mahindra Bank allege Rs 1,204-crore fraud by Cox & Kings: Report

PWC’s first draft report for Kotak said the bank had “all reason” to believe that receivable Rs 449 crore from 15 parties were “fictitious” as these parties had common addresses, were created on the same day, and were not found at mentioned address during physical visit.

Bank union approaches RBI seeking review of KV Kamath’s appointment as loan restructuring committee head

The regulator named KV Kamath as the head of the Expert Panel for loan restructuring last week, along with 4 other members who will submit their recommendations on sector-specific parameters and other considerations within 30 days. The committee is also tasked with reviewing all large resolution plans involving a debt of over Rs 1,500 crores.

Best student bank accounts of 2020, including free four-year railcard and up to £3,000 interest-free overdrafts

This gives you 56 days interest free on purchases if you pay off the balance in full every month by the payment date shown on your statement, although if you don’t, you will be charged interest of 19.9 per cent.

MC Insider: String of exits at private lender, hurting Chinese ownership, deadly COVID secrets in banking and more

Some public sector banks are taking the details of COVID cases among employees to their grave, so to speak. The MD and CEO of a south-based public sector bank was recently tested COVID positive. The bank hurriedly made arrangements to treat the CEO at home to make sure the news is suppressed. Doctors from a […]

Bank of Baroda posts Q1 loss at Rs 864 crore hit by provisioning on standard accounts

Public sector lender Bank of Baroda on August 10 posted a net loss of Rs 864.3 crore for the June quarter 2020 due to provisioning on standard accounts. The bank’s profit was at Rs 709.6 crore in the corresponding period last fiscal.

Gujarat-based businessman booked in three more bank fraud cases

The cases have been registered on complaints from the State Bank of India (SBI). In the first FIR, the bank has alleged a wrongful loss of ₹87.49 crore. It names Chem Edge International Private Limited, Bharatbhai Shah, Fenil Bhratbhai Shah, Ardor Overseas Private Limited, Ardor Structures Private Limited and others as accused.

BoE deputy governor: Banks could still fail – but safely

More from Bank Of England Coronavirus: Bank of England boss checks hopes of bounce-back after economic crash Markets don’t think UK is acting like Zimbabwe – but will need reassuring MPs raise serious concerns over watchdog led by new Bank of England boss UK business growth hits 16-month high after election – survey Bank backs […]

Commonwealth customers are left unable to use their cards after bank suffers massive outage

‘We’re aware of an issue impacting some POS transactions on some CBA terminals, as well as viewing cards and loans in the CommBank app and NetBank,’ it said.

Northern Rock – how the bank given the codename ‘Elvis’ changed the country

“Had it not been for Northern Rock, and the queues and panic you could see, I often wonder if 12 months later Gordon Brown and I would have been so confident that we had to intervene and stop the rest of the banking system collapsing at all costs,” remembers Darling.

Lloyds Bank chief executive António Horta-Osório is to step down in 2021 after decade in top role that saw him once made Britain’s best-paid banking boss

‘It is a great honour and challenge to take on the role of chair at this time, and I hope to continue Norman and Antonio’s work, initially alongside Antonio, in pursuing Lloyds’ core purpose of Helping Britain Prosper and in building the culture of the bank in order to support that purpose.’