Bandhan Bank to invest ₹300 crore in Yes Bank

MUMBAI: Private sector lender Bandhan Bank on Saturday said it will invest ₹300 crore in Yes Bank under the bank’s reconstruction scheme, taking the total investment proposal to ₹10,650 crore. The bank said it will acquire 30 crore equity shares of ₹2 each at a premium of ₹8 per equity share, constituting less than 5% of the new issued and paid-up equity share capital of Yes Bank. “As per the Scheme of Reconstruction, 75% of the total investment of the bank would be locked in for three years,” Bandhan Bank said in a regulatory…

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Nippon India Mutual Fund marks down its investment in Yes Bank to zero

NEW DELHI : Nippon India Mutual Fund on Friday said it has marked down the value of its investments to zero in bonds issued by troubled private sector lender Yes Bank. In addition, the fund house has imposed a limit of ₹2 lakh on fresh inflows into the impacted schemes till further notice, Nippon India MF said in a statement. This limit is imposed only on the new applications, switch-ins, systematic transfer plans and systematic investment plans received after March 5, it said. The announcement came hours after Yes Bank was placed under a…

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UBS to revamp investment bank in bid to lift flagging earnings

Switzerland’s UBS plans another shake-up of its investment banking arm to help boost earnings and curb costs after tough market conditions precipitated a performance dip. The world’s largest investment banks have had their worst start to a year since 2006, the latest data published by industry analyst Coalition on Thursday shows. “What’s been communicated today was a reorganisation, which did not include a specific number of job cuts,” a person familiar with the matter said, adding that the restructuring would be carried out by the end of the year. Switzerland’s…

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Kotak Mahindra Bank raises foreign investment limit

Kotak Mahindra BankNSE -0.36 % Ltd on Tuesday raised the limit on total shareholding of foreign institutional investors and foreign portfolio investors in the company to 45 percent from 43 percent. The hike in the shareholding limit comes as the private-sector lender grapples with a central bank directive on reducing its Chief Executive Uday Kotak’s stake in the bank.   [“source=economictimes.indiatimes”]

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SBI, IFCI, United Bank scout for buyers to clear off Rs16,349 crore NPA

SBI has asked the bidders to submit expression of interest by 9 March 2018 and further to complete the due diligence by 22 March. Photo: Indranil Bhoumik/Mint New Delhi: State-owned State Bank of India (SBI), United Bank of India (UBI) and long-term infrastructure lender IFCI are looking for buyers to sell as many as 110 accounts that have turned dud to recover dues over Rs16,349 crore. All the three have invited bids today from eligible banks, financial institutions, asset reconstruction companies (ARCs) and non-banking financial companies (NBFCs) to prune such non-performing…

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Karnataka Bank clerk exam 2017 results declared, check them here

Karnataka Bank has declared the results of online exam for the recruitment of clerks. Karnataka Bank has declared the results of online exam for the recruitment of clerks to be positioned at its branches/offices across India. The examination was held on February 19, 2017. Candidates who have cleared the online test will be called for an interview. The selected candidates will be appointed on probationary period of six months. On satisfactory completion of the probationary period, they will be confirmed. Selected candidates should execute a bond to work for a…

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