Banks

  • A few good men: 3 boys in Hyderabad find ATM door opened with Rs 25 lakh cash, inform police 17 hours 46 minutes ago

    Hyderabad: In a strange incident in Hyderabad, the cash door of a State Bank of Hyderabad ATM was found open due to technical problem. The incident was reported by three boys staying in nearby hostel on Friday night. The boys had gone to withdraw money from the ATM in SR...
  • SBI accounts for half of mobile transactions in June: RBI 2 days ago

    Mumbai: State Bank of India accounted for half of the total number of mobile transactions undertaken in June, while ICICI Bank became the first to surpass the Rs 1,000-crore mark albeit with only a fifth of the registered users as the country's largest lender. State Bank of India's (SBI) account holders...
  • Indigo inks deal with China bank, will finance 30 planes 2 days ago

    In an interview to CNN-IBN, Indigo President Aditya Ghosh said that they had inked a pact with Chinese bank ICBC for financing 30 planes. "Anything that enhances safety and security is always welcome," said Ghosh. ...
  • IMF, World Bank warn of renewed Gaza violence 3 days ago

    Jerusalem: The World Bank and International Monetary Fund warned that insufficient funding and political efforts to rebuild Gaza would make economic recovery almost impossible and lead to further violence. The warnings came three weeks after Israel and Hamas signed a ceasefire to end 50 days of conflict, and as the...
  • Bangladesh says Bitcoin users could be jailed for up to 12 years 4 days ago

    Dhaka: Bangladesh's central bank warned against dealing in bitcoin, saying anybody caught using the virtual currency could be jailed under the country's strict anti-money laundering laws. The Bangladesh Bank, which regulates the impoverished country's banking industry, said it issued the order after reports in local media of Bitcoin transactions through various...
  • Three MoUs to be inked during Chinese President Xi's Gujarat visit 5 days ago

    Ahmedabad: Three MoUs related to Gujarat, one of them for setting up an industrial park near Vadodara, will be signed in the presence of Prime Minister Narendra Modi and Chinese President Xi Jinping during their meeting on September 17. Xi will start his India visit from on Wednesday and he will...
  • Raghuram Rajan bats for more freedom to state-run banks 5 days ago

    Mumbai: Batting for greater autonomy to state-run lenders, RBI Governor Raghuram Rajan on Monday said that the government should look at them as truly "independent entities" that take their own commercial decisions and not as an extended arm of the administration. He also said that while it was fine for the...
  • Money laundering: RBI takes action against erring UCBs 6 days ago

    New Delhi: Cracking down on money laundering, the Reserve Bank of India (RBI) has closed down six Urban Cooperative Banks (UCBs) which were suspected of being used to route illegal money. The central bank has also asked state governments to take stern action against any other erring UCBs after reports emerged...
  • HDFC Bank to send debit card PINs via SMS 6 days ago

    New Delhi: As part of its 'go-green' initiative, HDFC Bank has started sending PIN, unique code number, for debit card holders through SMS instead of the practice of sending it by post. It is not just environment friendly but also convenient and saves time of both customers and the bank, HDFC...
  • RBI may issue final norms on small, payments banks in 2-3 months 6 days ago

    New Delhi: The Reserve Bank is likely to issue final guidelines on small and payments banks within 2-3 months, paving the way for corporates to enter these two segments. The final guidelines on small and payments banks are expected in the next 2-3 months, sources said. Draft guidelines for small and payments...
  • World bank keen to fund Mumbai's two new mega Metro projects: MMRDA 6 days ago

    Mumbai: With the Japanese government taking a lead in funding the megapolis' many signature infrastructure projects, the World Bank has evinced interest in funding the proposed Charkop-Dahisar and Wadala-Teen Hath Naka Metro projects. The Japan International Cooperation Agency (JICA) has already committed to fund the Mumbai Metropolitan Region Development Authority's (MMRDA)...
  • SBI takes lead in opening bank accounts under 'Jan Dhan Yojana' September 11, 2014

    New Delhi: State Bank of India has taken the lead in flagship Jan Dhan Yojana by opening over 30 lakh accounts so far, followed by Punjab National Bank. As of September 8, State Bank has opened about 21.16 lakh accounts in rural areas and 8.8 lakh accounts in urban areas,...
  • Cabinet reviews Jan Dhan scheme; banks open over 3 crore accounts September 10, 2014

    New Delhi: The Cabinet, headed by Prime Minister Narendra Modi, on Wednesday took stock of the financial inclusion drive, Jan Dhan Yojana, under which banks have opened 3.02 crore accounts and mobilised about Rs 1,500 crore. "As of September 8,2014, 3.02 crore accounts have been opened, of which 1.89 crore are...
  • Study on ease of doing business not in line with reality: Government September 10, 2014

    New Delhi: Government on Wednesday said that the World Bank's ease of doing business ranking for India is "not in line with the reality" and has asked the multilateral lending body to reassess the parameters. As per the latest World Bank's report on 'ease of doing business', India had slipped three...
  • Maximum complaints against nationalised banks September 10, 2014

    Chandigarh: Bank customers continued to have maximum grievances against nationalised banks as over 68 per cent of complaints were filed against these banks including SBI group in 2013-14. Complaints pertaining to ATM transactions and non-adherence of fair business practices topped among the complaints, Banking Ombudsman (Chandigarh) RK Sood said on Wednesday. The...
  • Subhash Chandra Garg appointed as World Bank ED September 10, 2014

    New Delhi: Senior IAS officer Subhash Chandra Garg was on Wednesday appointed as Executive Director in World Bank. Garg, a 1983-batch IAS officer of Rajasthan cadre, will have a tenure of three years from the date of assuming charge of the post, said an order issued by the Appointments Committee of...
  • Vijay Mallya in further trouble, SBI sends wilful defaulter notice September 9, 2014

    Mumbai: Days after United Bank of India declared Kingfisher Airlines promoter Vijay Mallya and three other directors wilful defaulters, country's largest bank State Bank of India on Tuesday said it has also sent a notice to tag them as "wilful defaulters". "We have already sent a notice to KFA (to declare...
  • Kingfisher Airlines contests wilful defaulter tag September 9, 2014

    Mumbai: Debt-ridden Kingfisher Airlines on Tuesday contested UBI's decision to declare it as a wilful defaulter, saying that RBI guidelines in this regard do not apply to the company. The carrier, which has been grounded since October 2012, is also in the process of seeking legal...
  • MoS Home Rijiju to attend world reconstruction meet in Washington September 9, 2014

    New Delhi: Union Minister of State for Home Kiren Rijiju will attend the second World Reconstruction Conference being organised by World Bank in Washington DC from September 10 to 12. Rijiju will lead the Indian delegation for the meet and would be a panelist for the opening plenary on the...
  • Upper age limit for MD & CEO of a private bank is 70 years: RBI September 9, 2014

    Mumbai: The Reserve Bank of India on Tuesday fixed 70 years as the maximum age for a person to hold office of MD & CEO and other Whole Time Director (WTD) in a private bank as stipulated in the new Companies Act. "It has been decided that the upper age limit...
  • World Bank warns of global jobs crisis September 9, 2014

    Sydney: The world is facing a global jobs crisis that is hurting the chances of reigniting economic growth and there is no magic bullet to solve the problem, the World Bank warned on Tuesday. In a study released at a G20 Labour and Employment Ministerial Meeting in Australia, the Bank said...
  • HDFC bank organises secure banking workshop in Odisha September 7, 2014

    Bhubneshwar: HDFC Bank launched its Secure Banking programme and plans to extend it to all its 96 branches across Odisha as part of its efforts to create banking awareness among customers. Speaking about the initiative which was launched in Bhubaneswar, Debashish Senapati, Zonal Head, HDFC Bank, said banking in India...
  • Government of India can print Re 1 note: Law Ministry September 7, 2014

    New Delhi: Putting to rest the debate on printing of one rupee notes, the Law Ministry has opined that the Government of India has all the powers to print currency notes of this denomination. While the Reserve Bank of India (RBI) has the authority to issue bank notes of denominational values...
  • Syndicate Bank fraud case: ED attaches Rs 12 crore assets September 6, 2014

    Chennai: The Enforcement Directorate has attached eight immovable properties consisting of about 80 residential units at several neighbourhoods here worth Rs 12 crore as a followup in a bank fraud case. The properties had been purchased by one Kumar alias Vijayakumar by obtaining several loans, including housing and...
  • RBI allows ECB lenders to extend loans in rupees September 3, 2014

    Mumbai: Relaxing norms for external borrowings, the RBI today allowed ECB lenders can now extend loans in Indian Rupees to domestic businesses. "With a view to providing greater flexibility for structuring of external commercial borrowings (ECB) arrangements, it has been decided that recognised non-resident ECB lenders may extend loans in...
  • No end to trouble for Vijay Mallya, United Bank to declare him and Kingfisher Airlines as wilful defaulters September 3, 2014

    Mumbai: In more trouble for Kingfisher Chairman Vijay Mallya, the Supreme Court has refused to entertain his plea against being declared a 'wilful defaulter' by the United Bank of India. Kolkata-based United Bank has set in motion the process that will declare Mallya and his Kingfisher Airlines as wilful defaulters...
  • Mad rush to acquire 25,000 DDA flats continue September 2, 2014

    New Delhi: It's that time of the year when people get into a mad rush to get their hands on a prime piece of real estate in Delhi. Delhi Development Authority's housing auction- the biggest ever, has been rolled out with more than 25,000 flats on offer. The new scheme...
  • AIIMS sees increase in eye donors September 2, 2014

    New Delhi: The eye bank of AIIMS has seen a rise in the number of donors in the last couple of years, an official said on Tuesday. "In the last couple of years, the eye bank of AIIMS has seen an increase in the number of eye donors. From a very...
  • No relief for Kingfisher Airlines, SC doesn't restrain Union Bank from declaring it a wilful defaulter September 2, 2014

    New Delhi: In a setback for the Kingfisher Airlines, the Supreme Court on Tuesday refused to restrain the Union Bank of India from declaring it a wilful defaulter. "Now that you have been declared a defaulter, you can challenge it in any court," the SC said. The KFA had approached the...
  • Poor response to Ebola causing needless deaths, says World Bank head September 2, 2014

    Dakar/Lagos: The world's "disastrously inadequate response" to West Africa's Ebola outbreak means many people are dying needlessly, the head of the World Bank said on Monday, as Nigeria confirmed another case of the virus. In a newspaper editorial, World Bank President Jim Yong Kim said Western healthcare facilities would easily be...