Banks

  • 'Those with blood on their hands should not speak about the country' 11-04-2014 05:52 PM

    Karandighi: Targeting Narendra Modi who has accused her of vote bank politics, Trinamool Congress chief Mamata Banerjee on Friday alleged that those who had blood on their hands should not talk about the country. "It does not behove well to talk about the country for those who have blood on...
  • SP, BJP responsible for Muzaffarnagar riots, says Ajit Singh 07-04-2014 08:12 AM

    Slamming BJP and Samajwadi Party, RLD chief Ajit Singh on Sunday held both parties responsible for the Muzaffarnagar riots. "BJP and SP have got communal riots done in Muzaffarnagar for the sake of vote bank politics. We have to prevent Narendra Modi from becoming Prime Minister of this country," RLD...
  • Exclusive: Not worried about rupee overvaluation right now, says Rajan 02-04-2014 02:41 PM

    Mumbai: Reserve Bank of India governor Raghuram Rajan said he was not worried about rupee overvaluation for now. Strong foreign fund inflows over the last couple of months have lifted the rupee to an 8-month high, stoking concerns that India's exports could become uncompetitive. "When we were at 60/$, people...
  • SBBJ revises FCNR(B) deposit interest rates 01-04-2014 10:57 PM

    State Bank of Bikaner and Jaipur (SBBJ) on Tuesday revised its FCNR(B) rates for fresh deposits and renewals. The new rates for one to five years maturities are 2.56 per cent, 2.59 per cent, 4.05 per cent, 4.48 per cent, and 4.85 per cent for US dollar, a bank release...
  • RBI gets EC approval to grant new bank licences 01-04-2014 06:34 PM

    New Delhi: Ending weeks of uncertainty, the Election Commission on Tuesday allowed the Reserve Bank of India to issue licences for setting up new banks. "The Commission is of the view that the Reserve Bank of India (RBI) may take necessary action (for grant of in-principle approval for banking licences)...
  • RBI keeps Repo Rate unchanged at 8 pc, CRR at 4 pc 01-04-2014 11:09 AM

    New Delhi: The Reserve Bank of India maintained status quo in key rates on Tuesday, keeping the Repo Rate unchanged at 8 per cent and Cash Reserve Ratio at 4 per cent. The RBI also warned that failure to elect a stable government in the coming elections will accentuate "downside...
  • RBI likely to maintain status quo in monetary policy on Tuesday 31-03-2014 03:41 PM

    New Delhi: The Reserve Bank will come out with annual monetary policy on Tuesday amid expectations that it will maintain status quo because retail inflation, especially in food items, is yet to show definite signs of moderation. "It would be quite a tough call for the RBI in the given...
  • India's first all-women bank sets up its first branch in Patna 29-03-2014 07:43 PM

    The Bharatiya Mahila Bank (BMB), India's first all-women bank, on Saturday set up its first branch in Patna. The bank would cater to financial inclusion of women of all segments from Self-Help Groups to lower middle class women to High Networth Individuals with a basket of products to ensure inclusive...
  • Swiss government to reply Chidambaram's letter soon 27-03-2014 09:24 PM

    Switzerland on Thursday said it would soon respond to Finance Minister P Chidambaram's letter that has raised concerns about not providing information on alleged unaccounted money stashed by Indians in Swiss banks. "We confirm that we have received a letter from India's Finance Minister. He will receive an answer soon,"...
  • Switzerland not sharing information on bank accounts of Indians: Chidambaram 27-03-2014 12:19 PM

    New Delhi: Upping the ante against Switzerland for not sharing information on Indians stashing money in its banks, Finance Minister P Chidambaram has threatened to drag the European nation to multilateral foras like G20 for continuing to block its requests. Chidambaram, in a terse two-page letter to his Swiss counterpart...
  • Will BJP benefit from divided Muslim votes in Moradabad? 24-03-2014 05:40 PM

    A five-cornered contest in the Muslim-predominant western Uttar Pradesh district of Moradabad has made it tough for pollsters to guess which way the wind blows. Moradabad district, home to the famous brassware artisans whose dazzling craftsmanship is much sought after at home and abroad, was till recently also well known...
  • Robbers strike bank, decamp with four computer monitors 21-03-2014 08:38 PM

    Burglars made off with four computer monitors after breaking into Bank of India's Ichagarh branch office in the adjoining Seraikela-Kharswan district, police said. Cash at the branch remained untouched as the burglars were unable to open the safe during the robbery which took place last night, said officer-in-charge of Ichagarh...
  • Government sells Axis Bank stake for over $900 million: sources 21-03-2014 01:49 PM

    Mumbai: The government has raised more than $900 million by selling a 9 per cent stake in Axis Bank Ltd, two sources with direct knowledge of the development said on Friday. The government held 20.7 per cent in Axis Bank, India's third-largest private-sector bank by assets, via a trust fund...
  • Banks, ATMs may be hit as Windows XP support ends in April 19-03-2014 11:03 PM

    Mumbai: Banking operations, including ATM services, may be hit as support from Microsoft for Windows XP operating system will end from April 8, the RBI said on Wednesday asking banks to take immediate steps to control this. The end of support for Windows XP is likely to increase the probability...
  • Locals disrupt traffic after criminals shoot bank manager dead 15-03-2014 05:52 PM

    Armed assailants on Saturday shot dead the manager of a bank in Darbhanga district,police sources said. At around 10 am when manager of the Bhalpatti branch of Uttar Bihar Kshetriya Gramin Bank, Vijay Kumar Jha, was opening the gates of the bank, four persons riding on two motorcycles came and...
  • Embarrassment for Chiranjeevi, brother Pawan Kalyan to launch his party today 14-03-2014 12:19 PM

    Hyderabad: Brother of the Congress leader and film star Chiranjeevi, Pawan Kalyan, himself a star, will be launching his new political party, Janasena on Friday in Hyderabad. It is being seen as an embarrassment for Chiranjeevi as Pawan may eat into the veteran actor's vote bank in coastal Andhra. They...
  • Chidambaram to discuss United Bank crisis with RBI Governor 05-03-2014 05:36 PM

    New Delhi: Finance Minister P Chidambaram on Wednesday said he will discuss United Bank of India's bad loan crisis with the Reserve Bank Governor later this week. "United Bank is a special case. We will deal with that. It's not an alarming case...UBI issue will be discussed separately when the...
  • Sensex ends 67 points up to end at record close 05-03-2014 04:36 PM

    Mumbai: The benchmark Sensex on Wednesday extended gains by rising 67 points to end near its record close on sustained buying driven by positive global cues. Thawing of Ukraine crisis and upbeat economic data from China helped domestic markets, said traders. After gaining 263.08 points in the previous session, the...
  • Sahara offers Rs 22,500 crore bank guarantees 04-03-2014 06:16 PM

    New Delhi: Accused of persistent non-compliance, Saharas on Tuesday offered Sebi fresh bank guarantees for Rs 22,500 crore and help in verifying investors including those the group claims to have already refunded. Sahara said it can "depute hundreds of competent workers" to assist Sebi in collating the documents and other...
  • RBI grants 9 more months to exchange notes printed before 2005 03-03-2014 07:36 PM

    The Reserve Bank on Monday granted an additional nine months for the public to exchange currency notes printed before 2005, including Rs 500 and Rs 1,000 denominations, and set a deadline of January 1, 2015. "RBI has also advised banks to facilitate the exchange of these notes for full value...
  • Bank officer arrested for taking bribe 28-02-2014 11:47 PM

    A senior official of State Bank of Bikaner and Jaipur on Friday arrested by the sleuths of Anti-Corruption Bureau while allegedly accepting bribe of Rs 30,000. SBBJ Chief Manager (Civil works) Anant Kumar Sinha was arrested by ACB's sleuths while accepting a bribe of Rs 30,000 for clearing a bill...
  • RBI committed to "strongest growth possible": Rajan 26-02-2014 11:34 PM

    Under flak from various quarters for raising rates, RBI Governor Raghuram Rajan on Wednesday said the central bank is committed to the "strongest growth possible" and is on the same page as the Finance Ministry on this front. The Reserve Bank of India (RBI) also strongly favours targeting CPI inflation...
  • Kapil Sharma to cut down his comedy show for movie career 23-02-2014 03:45 PM

    Mumbai: Kapil Sharma, the host and producer of popular TV show 'Comedy Nights with Kapil', is set to embark on a movie career and he says the show would have to revert to its one-episode-per-week format due to time constraint. Kapil will make his film debut with Yash Raj Films'...
  • United Bank blames Infosys software for wrong NPA entries 19-02-2014 10:10 PM

    New Delhi: Blaming wrong classification for showing assets as bad debt, state-owned United Bank of India (UBI) on Wednesday said that the software system sourced from Infosys has "inherent deficiencies" in identifying quality of assets in certain categories. The core banking solution (CBS) system of the bank is based on...
  • 'The Lego Movie' clicks again with $62.5 million 19-02-2014 02:30 PM

    "The Lego Movie" blocked "RoboCop" and "About Last Night" from the top spot at the box office. In its second outing, the Warner Bros. animated film featuring the voices of Chris Pratt, Elizabeth Banks and Will Arnett earned $62.5 million to take first place over President's Day weekend. The Sony...
  • Role of banks in disbursement of loans 'objectionable', says Nitish Kumar 17-02-2014 05:32 PM

    Describing role of banks in disbursement of loans in Bihar as "objectionable", Chief Minister Nitish Kumar on Monday said that the Cash deposit (CD) ratio in the state was still very low and said the state government would strongly take up the matter with the Centre. On suggestion of the...
  • Interim Budget: Government plans to boost PSU banks, may provide Rs 11,200 crore 17-02-2014 03:03 PM

    New Delhi: Finance Minister P Chidambaram on Monday proposed to infuse Rs 11,200 crore in public sector banks to enhance their capital in the next financial year. "In 2014-15, I propose to provide Rs 11,200 crore for capital infusion in public sector banks. They have opened 5,207 branches so far,...
  • Fisc consolidation needs to be our mantra for Budget: Basu 16-02-2014 10:40 PM

    In an interview to CNBC-TV18's Latha Venkatesh, Kaushik Basu, chief economist of World Bank spoke about his reading of the global economy and his outlook. Below is a verbatim transcript of the interview: Q: You aren't one of us at this point in time, in a way, as the World...
  • State Bank of India Q3 net profit dips 34% at Rs 2,234 crore 14-02-2014 03:07 PM

    Mumbai: State Bank of India (SBI) on Friday posted a 34 per cent decline in net profit at Rs 2,234.34 crore for the third quarter ended December 31, 2013 on account of higher provisioning for bad loans. The country's largest bank had a net profit of Rs 3,396 crore on...
  • 11 get life imprisonment in 2010 bank theft case 14-02-2014 08:13 AM

    A district court on Thursday awarded life imprisonment to 11 persons, including three women, in a case of theft of Rs 5.24 lakh from a Gramin Bank here four years ago. Additional District and Session judge Manmohan Saran Lal also imposed a penalty of Rs 10,000 on each. The 11,...