BANKS

  • RBI slaps penalty of Rs 50 lakh on ICICI Bank, Rs 25 lakh on Bank of Baroda 3 days ago

    New Delhi: The Reserve Bank of India (RBI) on Wednesday imposed a penalty of Rs 50 lakh on ICICI Bank and Rs 25 lakh on Bank of Baroda for violation of KYC norms, a statement issued by the apex bank said. "The Reserve Bank of India has imposed monetary penalty on...
  • SC defers verdict on Sahara plea to raise more debt on hotels 3 days ago

    Mumbai: The Supreme Court on Wednesday deferred a verdict on embattled Sahara conglomerate's plea seeking permission to raise more debt on its three overseas hotels, crucial to secure bail for its jailed chief Subrata Roy. Sahara needs to deposit an initial $1.6 billion to secure bail for Roy, held in a...
  • Oil drops below $59 for first time since 2009 4 days ago

    London: Oil fell below $59 a barrel for the first time since May 2009 on Tuesday, extending a six-month sell off as slowing Chinese factory activity and weakening emerging-market currencies added to concerns about demand. International benchmark Brent crude has almost halved since reaching a 2014 high of $115 a barrel...
  • Change laws, put cash curbs to check black money menace: SIT December 12, 2014

    New Delhi: In suggestions with far-reaching implications, the SIT on black money has recommended amendment of laws to provide for confiscation of domestic property of those with illicit assets abroad and making tax evasion of over Rs 50 lakh a 'predicate offence' taking it as a serious crime. ...
  • Rs 4479 crore in Indians' HSBC-list accounts: SIT on black money December 12, 2014

    New Delhi In first major disclosure about money held in Swiss banks, government on Friday said Rs 4,479 crore is held in the accounts owned by Indians, who figured on the HSBC List, and the Income Tax Department has initiated action against 79 of such account holders. Besides, the tax department...
  • India agrees to cut stakes in state banks; could raise $1.6 trillion December 11, 2014

    New Delhi: The Cabinet approved plans to raise about Rs 1.6 trillion ($25.76 billion) by selling some of its stakes in state-run banks by 2019, a government statement said on Wednesday. The government holds stakes ranging from 56 per cent to 84 per cent in 27 state-run banks. They account for...
  • HC asks Censor Board to review documentary film 'En Dino Muzaffarnagar' again December 9, 2014

    New Delhi: The Delhi High Court Tuesday asked the Central Board of Film Certification (CBFC) to review 'En Dino Muzaffarnagar', a documentary film, again and pass its order. Its maker Meera Chaudhary had filed a plea challenging the CBFC's refusal to grant it a certificate on the grounds that the film...
  • Bengaluru: Robbery attempt foiled as passersby catch man who robbed woman inside ATM December 7, 2014

    Bengaluru: A robbery attempt was foiled in Bengaluru as passersby caught the man who robbed a woman inside an ATM of Punjab National Bank on Friday evening in Vasanth Nagar area. The incident took place when the woman and her friend had gone to the ATM to withdraw cash. As there...
  • SC asks Centre to ensure completion of Income Tax probe into black money case by March 31 December 3, 2014

    New Delhi: The Supreme Court on Wednesday asked the Centre to ensure that the ongoing Income Tax probe for suspected black money concerning 627 Indians who have accounts in HSBC bank, Geneva, be completed by March next year. The apex court directed the Special Investigation Team (SIT) probing the black...
  • Full statement: RBI keeps key rates unchanged in its bi-monthly monetary policy December 2, 2014

    Mumbai: On the basis of an assessment of the current and evolving macroeconomic situation, RBI has kept the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 8.0 per cent. Monetary and Liquidity Measures On the basis of an assessment of the current and evolving macroeconomic situation, it has been...
  • RBI expected to hold rates, sound dovish to soothe government December 2, 2014

    Mumbai: The Reserve Bank of India is expected to keep interest rates unchanged on Tuesday, staying focused on containing inflation, while adopting a more dovish tone in response to the government's call for help to revive economic growth. Forty-one of 45 economists saw the RBI keeping the repo rate at 8.00...
  • After recovering diamonds worth Rs 100 crore, Rs 10 crore cash, I-T department to probe UP chief engineer's bank lockers December 1, 2014

    New Delhi: The Income Tax department will open bank lockers of Uttar Pradesh Chief Engineer Yadav Singh in at least 12 banks located in Noida, Delhi and Ghaziabad on Monday, said sources. The I-T department had recovered diamonds worth Rs 100 crore, Rs 10 crore in cash and around 2...
  • No breakthrough yet in over Rs 1 crore ATM heist in North Delhi November 30, 2014

    New Delhi: Delhi Police are yet to make any headway in the daring ATM heist in North Delhi in which a security guard was killed, even as investigations reveal glaring security lapses on part of the cash replenishment agency. Although police has so far questioned more than 100 people including...
  • Daylight heist in Delhi, robbers caught on camera after looting Rs 1.5 crore from ATM Cash Van November 29, 2014

    Delhi: A cash van of a private bank in Kamla Nagar area of Delhi was robbed of Rs 1.5 crore in broad daylight on Saturday morning after two men on a bike shot the security guard stationed at the spot. The robbers can be seen running away in the mobile...
  • Delhi: Bank cash van robbed of Rs 1.5 crore, guard shot at remains critical November 29, 2014

    Delhi: A cash van of a private bank in Kamla Nagar area of Delhi was robbed of Rs 1.5 crore in broad daylight on Saturday morning. The robbers shot at the guard stationed outside the van when he tried to retaliate. The guard remains critical. Two men on bike committed the...
  • The Hunger Games: Mockingjay - Part 1: Live tweet review November 28, 2014

    Directed by Francis Lawrence, 'The Hunger Games: Mockingjay- Part 1' stars Jennifer Lawrence, Josh1 Hutcherson, Liam Hemsworth, Woody Harrelson, Elizabeth Banks and Julianne Moore. It is the sequel to 'The Hunger Games: Catching Fire' and is the first of two films based on the novel...
  • ATM machine stolen in Delhi November 25, 2014

    New Delhi: An ATM machine was stolen, police said on Tuesday. A sweeper spotted the ransacked ATM of the Union Bank of India located at west Delhi's Narela area Tuesday morning and informed the police. Along with the machine, the CCTV cameras installed inside the booth were also found missing. Police said the...
  • Global warming could undermine poverty fight: World Bank November 24, 2014

    Washington: Climate change could undermine efforts to defeat extreme poverty around the globe, the World Bank has warned. In a new report on the impact of global warming, the bank said sharp temperature rises would cut deeply into crop yields and water supplies in many areas and possibly set back efforts...
  • Kotak Mahindra to buy ING Vysya Bank in all-stock deal November 20, 2014

    Mumbai: Private lender Kotak Mahindra Bank Ltd said on Thursday its board had approved the acquisition of local rival ING Vysya Bank Ltd in an all-stock deal, a move that could kick-start consolidation in the banking sector. Dutch lender ING Groep NV owns roughly a 43 per cent stake in ING...
  • Rupee opens at 61.83 per dollar; down 9 paise November 19, 2014

    Mumbai: The Indian rupee slipped by nine paise in the early trade on Wednesday. It had opened at 61.83 per dollar against 61.74 on Tuesday. The yen hovers at multi-year lows against the dollar and euro as the market cautiously waited to see what the Bank Of Japan would say...
  • 74 per cent accounts in Jan Dhan Yojana are with zero balance November 18, 2014

    New Delhi: Around Rs 5,400 crore have been deposited in banks in over seven crore bank accounts opened under Pradhan Mantri Jan Dhan Yojana of which 74 per cent accounts are with zero balance, according to an RTI reply. The data provided by Department of Financial Services says that as on...
  • Rate cut by RBI will give a good fillip to the economy: Arun Jaitley November 18, 2014

    Pushing for a rate cut by the Reserve Bank of India, Finance Minister Arun Jaitley said that the measure would give a good fillip to the economy. Jaitley's comments came on the back of a slide in crude oil prices and inflation moderating. "I am quite clear in my mind...
  • People of Kashmir, Northeast very much part of India: Vivek Oberoi November 17, 2014

    Srinagar: Bollywood actor Vivek Oberoi today said there was a need to shed the bias against the people of Kashmir and northeast India to give the youth from these places a chance to connect with their counterparts in rest of the country. "We say that we are ready to go to...
  • Oxigen: Smartphone, the new banking device November 15, 2014

    Smartphones are the new transaction tools in banking sector. Oxigen has been pioneering mobile payments for the last ten years. ...
  • Ahead of President's visit, Vrindavan authorities grapple to deal with monkey menace November 14, 2014

    Mathura: To keep monkeys at bay during President Pranab Mukherjee's visit to Banke Behari temple in Vrindavan on November 16, the district administration had decided to deploy langurs but it had to abort the plan following outcry from wildlife activists. "We have decided to withdraw services of langurs as it...
  • Watch: IIP up by 2.5 per cent against 0.4 per cent in August November 13, 2014

    With consumer price inflation dipping and factory output growing slightly, all eyes are now on the Reserve Bank of India. Will it or will it not cut rates at its next meeting is the question. ...
  • Delhi: Now, recharge Metro card through SMS November 13, 2014

    New Delhi: Delhi Metro commuters will now be able to recharge their smart cards by sending SMS to a designated number, courtesy a new facility launched on Thursday. To avail the service, passengers should have an account with ICICI Bank with their mobile number registered. The service is avialble at 71...
  • RBI against loan waiver scheme by state governments November 13, 2014

    Mumbai: Reserve Bank Governor Raghuram Rajan expressed reservation over the loan waiver scheme by various state governments and also suggested reasonable interest rate ceiling on loans from microfinance lenders. "Repeated loan waivers by various state governments distorts credit pricing, thereby also disrupting the credit market," he said at a function...
  • ICICI's Chanda Kochhar picks the broom as part of 'Swachh Bharat Abhiyan' November 12, 2014

    MD and CEO ICICI Bank Chanda Kochhar on Tuesday took part in Swachh Bharat Abhiyan leading a team of 50 employees to clean the street in front Bank's Backbay Reclamation branch in Mumbai. She announced that one branch of the bank will clean-up the surroundings on every working day for...