Banking

  • Full text: RBI's fourth bi-monthly monetary policy review 13 hours 11 minutes ago

    New Delhi: Reserve Bank Governor Raghuram Rajan on Tuesday left all key rates unchanged citing continued risks to inflation and difficult external situation especially on the geopolitical front. Here is the full text of the report: ...
  • Black Money: Automatic information exchange to help India and Switzerland Yesterday

    Kolkata: Automatic information exchange would help India and Switzerland to contain stashing of black money in Swiss banks, Ambassador of Switzerland to India and Bhutan Linus Von Castelmur said on Monday. "For the future, I think the solution will be expected on automatic information exchange so that each and every...
  • Jan Dhan accounts cross 5 crore mark, banks collect over Rs 3500 crore Yesterday

    Mumbai: Banks have opened a whopping five crore accounts under the Jan Dhan scheme till September 25 and collected over Rs 3,500 crore in deposits, a top Finance Ministry official said on Monday. Led by state-run banks, the system has opened over 5 crore accounts under the Jan Dhan scheme as...
  • Sensex, Nifty flat; Reliance & Infosys up, HUL falls Yesterday

    Mumbai: Sensex on Monday fell 29 points to end at 26,597.11 while Nifty sliped 10 points to close at 7,958.90. Earlier the market has opened on a flat note. The Sensex is up 8.81 points at 26635.13 and the Nifty is up 9.60 points at 7978.45. About 474 shares have advanced,...
  • Syndicate Bank bribery case: Court grants bail to 3 accused 3 days ago

    New Delhi: A Delhi court on Saturday granted bail to Bhushan Steel Ltd Vice Chairman and Managing Director Neeraj Singal, CMD of Prakash Industries Limited Ved Prakash Agarwal and one other accused, arrested in connection with the Syndicate Bank bribery case. Special CBI judge Swarana Kanta Sharma enlarged Singal, Agarwal...
  • Need to break back of inflation: Raghuram Rajan 5 days ago

    Mumbai: Reserve Bank Governor Raghuram Rajan said there was a need to "break the back" of inflation which remains high and controlling it would make the apex bank's position more comfortable. "The real problem is inflation that is persistent. We have been emphasising again and again in order to break...
  • Supreme Court verdict scrapping coal blocks to weigh on lenders 5 days ago

    Mumbai: The Supreme Court verdict scrapping most coal extraction permits given to companies over two decades has raised concerns that loans to the holders of the permits could turn sour, piling pressure on lenders already battling a rise in bad loans. The court said on Wednesday that companies will have until...
  • Syndicate Bank bribery case: Accused in judicial remand 6 days ago

    New Delhi: A special court on Wednesday remanded in judicial custody till September 30 Syndicate Bank's suspended CMD SK Jain, Bhushan Steel Ltd Vice Chairman and Managing Director Neeraj Singal and others, who have been arrested in a bribery case. Special CBI judge Swarana Kanta Sharma sent the accused to six...
  • India needs political will to promote phone banking, says Sam Pitroda 6 days ago

    Singapore: India needs strong political will to enable phone banking services across the country to facilitate payment of government salaries and school fees through electronics, Sam Pitroda, who piloted the telecom revolution in the country, said on Wednesday. Speaking at the MasterCard Innovation Forum, Pitroda said that fiber optic infrastructure was...
  • Google India launches new campaign to help women get online 1 week ago

    Mumbai: Search giant Google on Tuesday launched a new social campaign in association with Bollywood actor-director Farhan Akhtar's initiative MARD, to increase internet literacy among women in the country. Google India had first time launched a 'digital literacy' initiative campaign called 'Helping Women Get Online' (HWGO) in collaboration with Intel, HUL...
  • Syndicate Bank MD sent to police custody till Tuesday September 22, 2014

    New Delhi: A court here on Monday remanded Syndicate Bank chairmancummanaging director SK Jain and another accused to police custody till Tuesday after the CBI said the duo are required to be confronted with another coaccused in the case. Central Bureau of Investigation (CBI) Special Judge Swarna Kanta Sharma remanded Jain...
  • A few good men: 3 boys in Hyderabad find ATM door opened with Rs 25 lakh cash, inform police September 20, 2014

    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 September 18, 2014

    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 1,000crore 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 September 18, 2014

    In an interview to CNNIBN, 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 September 17, 2014

    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 September 16, 2014

    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 antimoney 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 September 15, 2014

    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 staterun banks September 15, 2014

    Mumbai: Batting for greater autonomy to staterun 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 September 14, 2014

    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 September 14, 2014

    New Delhi: As part of its 'gogreen' 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 23 months September 14, 2014

    New Delhi: The Reserve Bank is likely to issue final guidelines on small and payments banks within 23 months, paving the way for corporates to enter these two segments. The final guidelines on small and payments banks are expected in the next 23 months, sources said. Draft guidelines for small and payments...
  • World bank keen to fund Mumbai's two new mega Metro projects: MMRDA September 14, 2014

    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 CharkopDahisar and WadalaTeen 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 201314. Complaints pertaining to ATM transactions and nonadherence 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 1983batch 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: Debtridden 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...