Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Public sector mortgage lender, <keyword id="6359231" type="General" weightage="100" keywordseo="Central-Bank-of-India" source="Orion">Central Bank of India</keyword> closed the third quarter of FY24 with higher net profit of Rs.717.86 crore. In a regulatory filing on Friday, the bank said that for the quarter ended December 31, 2023, it had earned a total interest income of Rs 7,809.21 crore (Q3FY23 Rs 6,716.55 crore) and a net profit of Rs 717.86 crore (Rs 458.22 crore). The profit went up drastically owing to the sharp spike in the bank's other income for the quarter under review at Rs 1,329.72 crore (Rs 919.16 crore). During the quarter under review, the bank's provisions for non-performing assets came down to Rs 726.69 crore (Rs 849.62 crore). As on December 31, 2023, the bank's gross and net non-performing assets stood at Rs 10,786.49l crore (December 31, 2023 Rs 18,489.97 crore) and Rs. 2,955,57 crore (Rs 4,060.92 crore). According to the Central Bank of India, during the quarter under review, its total business by 11.48% to Rs. 6,17,368 crore with total deposits growing by 9.53% to Rs 377,722 crore and gross advances going up by 14.71% to Rs 239,646 crore. Net Interest Income (NII) marginally declined by 4.04% on Y-o-Y basis to Rs 3,152 crore in Q3FY24 as against Rs 3,285 crore for Q3FY23. However excluding one off exceptional item, NII was up 3.73% from Rs 3,042 crore in Q3FY23 to Rs 3,125 crore in Q3FY24.

Central Bank of India logs Rs.717 crore net profit for Q3

<ul><li>The <keyword id="6359231" type="General" weightage="20" keywordseo="Central-Bank-of-India" source="Orion">Central Bank of India</keyword> is recruiting 115 people in India under various profiles like Data Scientist, Economist, Income Tax officer and many more.</li><li>The online applications for all these positions will commence on November 23, 2021 and the last date to apply is December 17, 2021.</li><li>Candidates will also have to pay an application fee of ₹850 plus GST.</li></ul>Central Bank of India, a Mumbai-based government owned bank, is recruiting 115 people in India under various profiles like Data Scientist, Economist, Income Tax officer and many more. The online applications for all these positions will commence on November 23, 2021 and the last date to apply is December 17, 2021. These are the roles available with the Central Bank of India — <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Role </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of vacancies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eligibility criteria </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Economist </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 5 years of work experience in commercial banks or any other PSUs with PhD in Economics/ banking/commerce /economic policy/public policy. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Income Tax Officer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chartered Accountant (preferably passed in one attempt) with minimum 10 years post qualification experience (as on 30.09.2021) in the field of direct taxation -- supervisor in any financial institution/PSU bank/private sector banks/big four CA firm/category 1 chartered accountant firm prescribed for bank audit as per RBI guidelines. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Information Technology (scale V) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 10-12 years’ experience in a similar role in designing and launching digital products/platforms in BFSI Sector or Fintech companies with compulsory bachelor’s or master’s degree in engineering disciplines like computer science/information technology(IT)/electronics and communication or master’s in computer application from any recognised university or institution. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Data Scientist </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 8-10 years of relevant post-qualification experience in the area of data analytics/data science/data statistics/data mining in commercial bank/financial companies/financial services organisations/IT services companies with financial domain with Post graduate degree in statistics/econometrics/mathematics/finance/economics/computer science or bachelor’s of engineering (B.E)/bachelor’s of technology (B.Tech) in computer science/IT from any recognised university or institute. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Credit Officer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chartered Accountant (CA)/ chartered financial analyst (CFA) with three years of post qualification experience Or MBA in finance with at least 4 years of post qualification work experience. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Data Engineer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">11 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 5 years of relevant post-qualification experience in the area of data analytics/data science/data statistics/data mining in commercial bank/financial companies/financial services organisations/IT services companies with financial domain with post graduate degree (or equivalent diploma) in statistics/econometrics/mathematics/finance/economics/computer science or B.E./B.Tech in computer science/IT. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT Security Analyst </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 6 years of post-basic qualification experience in IT, out of which minimum 3 years in ethical hacking /red teaming /threat hunting /application security/digital forensic analysis with engineering graduate in computer science /IT/master’s in computer application(MCA) /master’s in science (IT or computer science) from recognised university or institute. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT SOC Analyst </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 6 years of post-basic qualification experience in IT, out of which minimum 3 years in operations like event analysis, rule creation, automation,asset integration, incident management, monitoring and compliance with graduation in engineering in computer science /IT/MCA / M.Sc.(IT or computer science) from a recognised university or institute. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Risk Manager </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 3 years post-qualification experience in risk management/credit / treasury with MBA in finance/ banking or post graduate diploma in banking/finance/statistics. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Technical Officer (Credit) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 years of experience in total enterprise value (TEV) study or project appraisal with banks or financial institutes with a degree in engineering in civil/mechanical/production/metallurgy /textile/chemical. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Financial Analyst </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CA or MBA in finance with 3 years experience as an officer in a public sector bank/undertaking in the reputed field. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Information Technology (scale II) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 years of work experience in the IT field with 3 years engineering degree in computer science/computer applications/information technology/electronics/ electronics and telecommunications /electronics and communications /electronics and instrumentation. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Law Officer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> 3 years of post-qualification experience of practice at Bar or Judicial service or 2 years as a law officer in the legal department of a scheduled commercial bank or the central/state government or of a public sector undertaking. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Risk Manager </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum 2 Years of post-qualification experience in risk management/credit/treasury with MBA/post graduate diploma in banking/finance or post graduate in statistics/math/banking &amp; finance with aggregate of at least 60% marks from any Indian university or institute. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Security (scale I &amp; II) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">For scale I — Ex-Junior commissioned officers with minimum 5 years of service as JCO in Indian Army or equivalent rank from Air Force, Navy and Para Military Forces. For scale II — Ex-Commissioned officers of the Rank of Captain or above from Indian Army with minimum 5 years service or equivalent rank from Air Force, Navy and Para Military Forces. </td></tr></tbody></table> Selection procedure — <ol><li>Selection will be done through an online written test and personal interview. </li><li>The online test is scheduled for January 22, 2022 at these locations -- Ahmedabad, Bengaluru, Bhubaneshwar, Bhopal, Chennai, Chandigarh, Delhi, Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Pune, Raipur &amp; Patna centres. </li><li>Candidates who manage to clear the online test will be called for the next round i.e., personal interview.</li></ol> Candidates will also have to pay an application fee of ₹850 plus goods and services tax (GST) ( for applicants belonging to general category) and ₹175 plus GST (for applicants belonging to schedule caste (SC) or schedule tribe (ST). Interested candidates can seek out more information <a href="https://www.centralbankofindia.co.in/sites/default/files/2021-11/Notification_Recruitment_of_Specialist_Officers-2022-23.pdf">here</a> and can apply <a href="https://www.centralbankofindia.co.in/en/recruitments">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/if-you-are-travelling-from-india-to-singapore-heres-how-to-apply-for-your-vaccinated-travel-pass/articleshow/87846159.cms">If you are travelling from India to Singapore, here’s how to apply for your Vaccinated Travel Pass</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/oppo-reportedly-plans-to-launch-electric-vehicles-in-india-by-2024/articleshow/87846882.cms">Oppo reportedly plans to launch electric vehicles in India by 202</a>

Central Bank of India is hiring for 115 vacancies across various domains

Mumbai, Apr 29 () State-run Central Bank of India on Wednesday launched various schemes to provide liquidity support to micro, small and medium enterprises (MSMEs), agriculture and self-help group borrowers that are affected by the COVID-19 induced lockdown. For MSME borrowers that are standard, the bank is offering an emergency line of credit up to 10 per cent of their existing fund based working capital limits, up to a maximum of Rs 50 crore, a release said. The loans are being offered for 18 months, with the first six months as moratorium. The scheme is offered till June 30, 2020. The lender is offering liquidity support to its existing Kisan credit card holders or term loan borrowers for crop/fisheries/poultry/dairy/animal husbandry between Rs 10,000 to Rs 50,000. Loans will be given to borrowers having track records of at least one year. For its SHG borrowers, the bank is providing finance of Rs 5,000 per member and up to Rs 1 lakh per SHGs. The liquidity support schemes for agricultural and SHG borrowers will be available till September, 2020, the bank said. HV MRMR

Central Bank of India launches loan schemes for MSMEs, farmers

Mumbai, Jun 12 () State-run Central Bank of India (CBI) on Friday said it has introduced a guaranteed emergency credit line for MSMEs and small business borrowers who are struggling to restart their businesses in the wake of the COVID-19 outbreak. These customers can avail an additional working capital term loan (WCTL) of up to 20 per cent of their combined fund based outstanding as on February 29, 2020 with a maximum limit of Rs 5 crore, the bank said in a release. The interest rate is linked to an external benchmark, which is the repo rate, with a cap of 7.50 per cent per annum. It has also fully waived the processing charges for these loans. "No penal interest is to be recovered and no guarantee fee is to be charged from the customer to cover the loan under Emergency Credit Line Guarantee Scheme (ECLGS) for providing 100 per cent guarantee coverage for such additional working capital term loans," the bank said. The government had announced the ECLGS last month as part of its stimulus package for the coronavirus-hit economy. The lender further said it has reduced the interest rate for external benchmark linked accounts by 0.40 per cent after a similar cut in repo rate by the RBI last month. It is offering new home loans at an interest rate of 6.85 per cent per annum. HV ABM ABM

Central Bank of India launches emergency credit line for MSMEs

New Delhi, Feb 4 () Central Bank of India on Tuesday said it will raise up to Rs 500 crore by issuing Basel III compliant bonds.The capital raising committee of the board of directors of the bank at its meeting held on 4 February, 2020, considered and approved the proposal for raising capital fundsup to Rs 500 crore, it said in a regulatory filing.It said the funds would be raised by issuance and allotment of non-convertible redeemable unsecured basel-III compliant tier 2 bonds in the nature of promissory notes.Shares of Central Bank closed at Rs 17.70 apiece on the BSE, up 1.14 per cent over the previous close. KPM MKJ

Central Bank of India to raise up to Rs 500 cr through bonds

Last week, Prime Minister Narendra Modi met senior finance ministry officials and got aware of rising bad loans at <keyword id="488657" type="UNKNOWN" weightage="100" keywordseo="state-run-banks">state-run banks</keyword>. 
Some of these banks have announced that they could not get desired third-quarter results because they were pushed by RBI to set aside money so that bad loans can be covered and their books can be cleaned up. 
 
READ: <a href="http://www.businessinsider.in/Banks-will-be-restored-to-health-by-March-2017-says-Raghuram-Rajan/articleshow/50958108.cms">Banks will be restored to health by March 2017, says Raghuram Rajan</a> 
 
"The prime minister was apprised of the situation. It is not that grave as it is made out to be," a senior government official told ET. "We are hopeful that as the bankruptcy law gets passed, financial institutions will have more teeth to rein in defaulters." 
 
Capital requirements of state-run banks and the impact of bad loans on their profitability were also the topics of discussion in the meeting. 
 "The government is committed to adequately capitalise PSBs (public sector banks)," he said. "It is expected that the last quarter of this fiscal will also see some more rise in bad loans because of <keyword id="6354335" type="CITY" weightage="100" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword>'s asset quality review (AQR)." 
 
The government has already committed Rs 70,000 crore to be given till FY19 for bank recapitalisation, and the amount can be increased if required, said the official. 
 
READ: <a href="http://www.businessinsider.in/Indias-largest-banks-profits-after-tax-slipped-by-61-in-Q3/articleshow/50945240.cms">India’s largest bank’s profits after tax slipped by 61% in Q3!</a> 

<a href="http://blogs.timesofindia.indiatimes.com/wp-content/uploads/2015/06/narendra-modi-new.jpg">Image source</a>

State-run banks brief PM Modi about rising bad loans

New Delhi, Jun 29 () Central Bank of India on Monday reported narrowing of loss to Rs 1,529.07 crore for March quarter 2019-20 as provisions for bad loans declined. The bank reported a loss of Rs 2,477.41 crore in January-March, 2018-19. Total income grew to Rs 6,723.73 crore in the three months to March from Rs 6,620.51 crore in the year-ago period, Central Bank of India said in a statement. During the quarter, the state-owned bank earned an operating profit of Rs 517.24 crore as against Rs 1,518.83 crore in the same period of the previous fiscal. Gross non-performing assets (NPAs) came down to 18.92 per cent of gross advances at the end of March 2020, as against 19.29 per cent by the same period last year. Net NPAs also came down to 7.63 per cent as against 7.73 per cent in the year-ago period. As a result of improvement in asset quality, provisions for bad loans during March quarter slipped to Rs 1,583.25 crore compared to Rs 4,523.57 crore in the year-ago period. Provision other than tax and contingencies too declined to Rs 2,178.33 crore from Rs 4,733.82 crore in the same period a year ago. In the full fiscal, the bank's loss reduced Rs 1,121 crore, as against Rs 5,641.48 crore in 2018-19. Income during the year rose to Rs 27,200 crore from Rs 25,051.51 crore a year earlier. Non-Interest Income of the bank improved to Rs 3,637 crore in 2019-20 from Rs 2,413 crore in the preceding financial year, registering a growth of 50.73 per cent. Total Business, a mix of deposit and advances, increased to Rs 4,86,007 crore from Rs 4,67,584 crore at the end of the same quarter a year ago. DP ANU ANU

Central Bank of India Q4 loss narrows to Rs 1,529 cr

Urjit Patel resigns as governor of RBI, India's central bank

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Reuters/Danish SiddiquiThe Reserve Bank of India (RBI) Governor Urjit Patel speaks during a news conference after the bi-monthly monetary policy review in Mumbai, India.</div></div></div><ul><li>Urjit Patel, the head of India's central bank has resigned for "personal reasons."</li><li>His departure comes five days after the Indian government invoked special powers that would give it more say on some aspects of monetary policy. </li><li><a href="https://markets.businessinsider.com/currencies/usd-inr">Watch the Indian rupee trade live</a>.</li></ul>The head of the Reserve Bank of India has resigned for "personal reasons," according to a statement put out by the central bank on Monday morning."On account of personal reasons, I have decided to step down from my current position effective immediately," Urjit Patel said in a <a href="https://rbi.org.in/scripts/bs_viewcontent.aspx?Id=3606">press release</a>."It has been my privilege and honour to serve in the Reserve Bank of India in various capacities over the years. The support and hard work of RBI staff, officers and management has been the proximate driver of the Bank's considerable accomplishments in recent years. I take this opportunity to express gratitude to my colleagues and Directors of the RBI Central Board, and wish them all the best for the future."Patel's resignation comes just five days after the Indian government announced it was invoking the never-before-used special powers under Section 7 of the RBI Act, which allows it consult on things like the central bank's capital reserves and liquidity problem in non-banking financial companies, according to the Indian business publication <a href="https://www.financialexpress.com/economy/urjit-patel-resigns-as-rbi-governor-cites-personal-reasons/1409366/">The Financial Express</a>.Patel was <a href="https://www.businessinsider.com/the-reserve-bank-of-india-has-a-new-governor-2016-8">named head of India's central bank</a> in August 2016, following <a href="https://www.businessinsider.com/r-indian-central-bank-chief-felt-undermined-in-weeks-before-quitting-sources-2016-6">the departure of Raghuram Rajan</a>, who returned to academia. The <a href="https://markets.businessinsider.com/currencies/usd-inr">Indian rupee</a> was down 0.75% at 71.3375 per dollar. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/things-you-shouldnt-buy-on-black-friday-2016-11">7 things you shouldn't buy on Black Friday</a></h3> <div> </div> </div>

The head of India's central bank steps down for 'personal reasons'

A list compiled by the <keyword id="47209" type="ORGANIZATION" weightage="20" keywordseo="Finance-Ministry">Finance Ministry</keyword> has revealed that public sector banks lost Rs 2,417 crore due to various incidents of <keyword id="38935" type="PERSON" weightage="20" keywordseo="Fraud">fraud</keyword>s in the first quarter of FY2014-15. For instance, there were 59 cases of fraud in <keyword id="6359231" type="CITY" weightage="20" keywordseo="Central-Bank-of-India">Central Bank of India</keyword> alone, which led to a loss of Rs 1,047 crore. 
 
Central Bank of India had topped the list even in FY2013-14, reporting 117 cases of fraud involving Rs 818 crore. State Bank of India is second on the list, losing Rs 437 crore in 61 such cases in the April-June quarter. 
 "Our loan sanctioning process is stringent. There may be some legacy cases but this fiscal no employee of <keyword id="13222" type="CITY" weightage="20" keywordseo="SBI">SBI</keyword> has been involved in any embezzlement of funds," said a senior SBI official on the condition of anonymity. As far as Central Bank of India is concerned, it has suspended or dismissed 102 officials in fraud cases. 
 It is pertinent to mention here that <keyword id="6368628" type="CITY" weightage="20" keywordseo="Syndicate-Bank">Syndicate Bank</keyword>'s Chairman and Managing Director SK Jain was arrested by the Central Bureau of Investigation for allegedly taking bribe of Rs 50 lakh earlier a few months ago. 
 
As per the guidelines issued by the Reserve Bank of India, “all advances related to fraud cases of Rs 1 lakh and above are maintained under 'cheating and forgery' category.” 
 
Image: Thinkstock

Fraudsters Siphon Off Rs 2,417 Crore From PSU Banks In The First Quarter

<ul><li>At 7:49 am, the SGX Nifty was trading 0.19% higher, indicating a positive start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amid the positive cues from the global market, the Indian stock market is likely to open higher. At 7:49 am, the SGX Nifty was trading up 0.19%, indicating a green start for Nifty50. US stocks also closed broadly higher on Wall Street as the market clawed back some of its sharp losses from September. The Dow Jones Industrial Average ended 1.5% higher; whereas the S&amp;P 500 rose 53.14 points on Monday. These are the stocks to watch out for during the trading session on September 29: Infosys EdgeVerve Systems, a wholly-owned subsidiary of Infosys, recently signed a partnership with Minit, a leader in process mining, to help clients accelerate process excellence. The company said it would jointly create a solution that will empower enterprises with superior insights for business transformation, leading to better operational efficiency and enhanced business results. The shares of Infosys ended 1% lower yesterday. Balaji Telefilms The board of Balaji Telefilms has approved the liquidation of its subsidiary Chhayabani Balaji Entertainment. The shares of Balaji Telefilms ended 1.2% higher yesterday. Central Bank of India The board of the Central bank of India at its meeting approved the allotment of 16 crore equity shares to qualified institutional buyers (QIB) at an issue price of ₹15.38 per share aggregating up to ₹254.99 crore. The shares of the Central Bank of India ended 1.2% lower yesterday. Shalby Ltd The Board of Shalby has approved to reduce promoters’ shareholding in the company to 75% from the current level of 79.45%. The company will issue equity shares and convertible securities up to ₹ 117.02 crore The shares of Shalby ended 1% lower yesterday. Anuh Pharma Anuh Pharma has received approval from the World Health Organization— Geneva Prequalification for Pyrimethamine API, which is used as antimalarial drugs. The shares of Anuh Pharma ended 5% higher yesterday. DHFL DHFL transaction auditor Grant Thornton flagged fraudulent transactions worth ₹12,705.53 crore took place at debt-ridden mortgage firm DHFL during FY17 to FY19. The shares of DHFL ended 1.16% higher yesterday. Vedanta Vedanta's reverse book building for delisting starts on October 5. The bid will remain open until October 9, the company said. Also, Vedanta’s board is slated to meet on October 3 to consider financial results for June quarter. The shares of Vedanta ended 2% higher yesterday. UTI AMC, Mazagon Dock and Likhitha Infrastructure The IPO for UTI AMC, Mazagon Dock, and Likhitha Infrastructure will open today for subscription. The issue will remain open until October 1. SEE ALSO:<a href="https://www.businessinsider.in/science/space/news/elon-musks-spacex-will-launch-another-60-starlink-internet-satellites-into-earths-orbit-tonight/articleshow/78366364.cms" data-type="tilCustomLink"> Elon Musk's SpaceX will launch another 60 Starlink internet satellites into Earth’s orbit tonight</a> <a href="https://www.businessinsider.in/finance/news/rbi-postpones-monetary-policy-meeting-new-dates-to-be-announced-soon/articleshow/78361698.cms" data-type="tilCustomLink">RBI postpones Monetary Policy meeting as the hunt for three new MPC members continues</a>

Top stocks to watch— Infosys, Central Bank of India, DHFL, Anuh Pharma, Shalby, Balaji Telefilms and others

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="http://markets.businessinsider.com/currencies/USD-inr"></a><a href="http://markets.businessinsider.com/currencies/USD-inr">Markets Insider</a></div></div></div>The Indian rupee is up on Wednesday after the Reserve Bank of India unexpectedly held rates.The currency is higher by 0.4% at 67.110 per dollar as of 8:24 a.m. ET.India's central bank held its benchmark interest rate at 6.25%, signaling the end of a loosening cycle. "The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving consumer price index or CPI inflation at 5 per cent by Q4 of 2016-17 and the medium-term target of 4 per cent within a band of +/- 2%, while supporting growth," the RBI said in its statement."Looking ahead, with inflation set to accelerate, we continue to think that rate hikes will come onto the agenda much sooner than is generally anticipated," argued Shilan Shah, India economist at Capital Economics, in a note to clients.As for the rest of the world, here's the scoreboard as of 8:24 a.m. ET:<ul><li>The US dollar index is up by 0.2% at 100.43 ahead of a quiet data day. The Department of Energy's inventories will be released at 10:30 a.m. ET.</li><li>The euro is down by 0.1% at 1.0667 against the dollar. Separately, the latest <a href="http://www.businessinsider.com/imf-report-on-greek-debt-2017-2?r=UK&amp;IR=T">report</a> from the International Monetary Fund said that Greece's debt will become "explosive" within 13 years. The IMF said that the debt-ridden country will struggle when it has to refinance its loans at market rates in 2030.</li><li>The Russian ruble is up by 0.2% at 59.2390 per dollar, while Brent crude oil, the international benchmark, is down by 0.3% at $54.95 per barrel.</li><li>The Mexican peso is higher by 0.4% at 20.5382 per dollar.</li></ul> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/tech-finance-coinbase-buy-sell-trade-bitcoin-app-coinbase-2017-1">Here's how to use one of the many apps to buy and trade bitcoin</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="8xa3Z1ODE6jmPca8bIn4JsdTak2saJbY" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You Searched For "Central Bank of India" and got 12 results

Central Bank of India logs Rs.717 crore net profit for Q3

IANS

Central Bank of India is hiring for 115 vacancies across various domains

Vaamanaa Sethi

Central Bank of India launches loan schemes for MSMEs, farmers

PTI

Central Bank of India launches emergency credit line for MSMEs

PTI

Central Bank of India to raise up to Rs 500 cr through bonds

PTI

State-run banks brief PM Modi about rising bad loans

BI India Bureau

Central Bank of India Q4 loss narrows to Rs 1,529 cr

PTI

Urjit Patel resigns as governor of RBI, India's central bank

The head of India's central bank steps down for 'personal reasons'

Jonathan Garber

Fraudsters Siphon Off Rs 2,417 Crore From PSU Banks In The First Quarter

BI India Bureau

Top stocks to watch— Infosys, Central Bank of India, DHFL, Anuh Pharma, Shalby, Balaji Telefilms and others

Navdeep Yadav

The rupee is climbing after India's central bank unexpectedly holds rates

Elena Holodny

Popular Keywords

Buying Guides