Banking Current Affairs on 26th, 27th, 28th & 29th July 2015

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State Bank of India set to enter wealth management, compete with private banks
  • State Bank of India, which is competing with private sector peers in digital banking, will venture into wealth management, one of the most profitable business initiatives of private and foreign banks. 
  • McKinsey India, a consultancy firm, has been roped in to advise the bank on the venture.
PNB identifies 400 wilful defaulters; to sell Rs 3,000 crore NPAs
  • PNB said it has reported to RBI 400 'wilful defaulters', and plans to sell NPAs worth up to Rs 3,000 crore to ARCs in the current fiscal. 
  • He also said the bank has identified corporate accounts and the work is underway for their strategic debt restructuring as per the Reserve Bank of India guidelines. 
  • PNB's first quarter net profit of current fiscal today showed 48.68 per cent decline, from Rs 1,405 crore reported the same quarter of 2014-15 fiscal. 
Indian Bank pays Rs 165.62 crore as dividend to government

  • Public sector Indian Bank has paid a dividend of Rs 165.62 crore for the financial year 2014-15 to the Government. 
  • The Centre holds 82.10 per cent in the bank's equity share capital. 
  • As on June 30, 2015 the bank's total business crossed Rs 3 lakh crore (Rs 3,00,436 crore) while capital position was at Rs 11,743 crore. 
  • The Capital Adequacy Ratio as per Basel III norms was at 12.12 per cent for the quarter ending June 30, 2015.
ICICI to sell Rs 1,000 crore NPAs from Tulip Telecom, Falcon Tyres to ARCs
  • The largest private sector lender ICICI Bank has put two stressed assets with an exposure of Rs 1,000 crore on the block to be sold to asset reconstruction companies.
  • The two accounts include Tulip Telecom (Rs 700 crore) and Falcon Tyres worth Rs 300 crore. Both have been declared as non-performing assets for sometime now.
Axis Bank signs $200 million loan agreement with ADB

  • Axis Bank signed a USD 200-million, seven-year bilateral loan agreement with the Asian Development Bank. 
  • The loan will help bolster Bank's efforts to improve farm efficiency by extending customised and affordable agriculture credit, that will help leverage its semi-urban and rural branch network to deliver agriculture credit.
Canara Bank ups ATM installation target to 1,000 this fiscal
  • State-owned Canara Bank has raised its ATM installation target by four times to 1,000 for the current fiscal while Bank of India has scaled back its plans by more than two-thirds. 
  • The 27 public sector banks have plans to set up as many as 15,007 ATMs in the country this fiscal. In April-June, they added 3,037 machines. 
  • All state-owned banks taken together had 1,28,827 ATMs as of June 30, 2015.