All posts tagged "Allahabad Bank"
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370Capital RegulationAllahabad Bank Reports $258mn Fraud by Indian Steelmaker
Following a similar report from Punjab National Bank earlier this month, Allahabad Bank has reported a $258mn fraud at Bhushan Power & Steel.
July 17, 2019 -
951EnforcementSWIFT Related Fines Imposed by RBI Total $10mn Across 36 Banks
The number of banks fined by the RBI for failing to integrate their core banking systems with SWIFT has now risen to 36, with fines totaling $10.16mn.
March 11, 2019 -
1.7KEnforcement
UPDATED – RBI Fines Multiple Banks for SWIFT Integration Non-Compliance
The penalties follow directions issued by the RBI in February 2018 requiring banks to link their core banking systems with the SWIFT network.
March 5, 2019 -
468Capital Regulation
RBI Removes Three More Banks from PCA Framework
Allahabad Bank and Corporation Bank have been released from PCA restrictions following the government's capital infusion last week; Dhanlaxmi Bank was found not in breach of any PCA risk thresholds.
February 26, 2019 -
486Capital RegulationIndia Infuses $6.8bn into 12 Public Sector Banks
The Indian government has approved capital infusions into 12 public sector banks amounting to $6.8bn as part of its bank recapitalisation plan.
February 21, 2019 -
1.2KEnforcement
UPDATED – Multiple Indian Banks Penalised for Rule Violations
The latest penalties involve banks' non-compliance with RBI directions on the monitoring of borrowers' end use of loan funds, as well as failures related to KYC/AML compliance.
February 13, 2019 -
320Capital RegulationFive Indian State-Run Banks to Receive Additional Capital Infusion
Indian government will infuse $1.6bn in additional capital into five state-run banks that have been struggling to meet capital adequacy ratios due to higher than expected losses from bad loans.
July 19, 2018 -
280Capital RegulationHKMA Imposes Enhanced Supervisory Arrangements on Indian Bank Branches
Due to capital deficiencies, the Hong Kong branches of Allahabad Bank, Punjab National Bank and Indian Overseas Bank must hold HQLA equivalent to 100% of unpledged deposits and should not solicit customer deposits, among other measures.
June 14, 2018 -
439Enforcement
RBI Under Fire for Failure to Detect $1.8bn Loan Fraud
Central bank audits failed to detect loan fraud using Punjab National Bank guarantees for over seven years; overseas branches which granted loans also under scrutiny.
February 21, 2018
