BANKS

  • RBI eases norms for home loans for up to Rs 10 lakh 13 hours 56 minutes ago

    New Delhi: Giving a boost to affordable housing, the RBI on Thursday eased the norms for home loans for up to Rs 10 lakh by allowing banks to include stamp duty and registration charges to the cost of a unit. These charges form around 15 per cent of the cost of...
  • Electrification work of 925 km rail route to commence from April Yesterday

    New Delhi: In an effort to fast-track completion of crucial rail infrastructure projects, Dedicated Freight Corridor Corporation (DFCC) has tied up with Sojitz- L&T for the electrification of the 925 km-long Western Dedicated Freight Corridor track between Rewari and Vadodara. Funded by Japan International Cooperation Agency (JICA), the largest single railway...
  • RBI Governor Rajan expects banks cutting rate from April 2 days ago

    Mumbai: After cutting the repo rate by 25 bps in a surprise inter-meeting monetary policy on Wednesday, Reserve Bank Governor Raghuram Rajan today said he sees banks passing on the benefit of lower rates regime to customers shortly. In yet another surprise move, the RBI on Wednesday reduced the repo rate...
  • Sensex falls 644 from top after hitting 30,000 on RBI rate cut 2 days ago

    Mumbai: Benchmark indices nosedived in the last hour of trade on Wednesday after touching record highs earlier in the day spurred by the 25 basis point repo rate cut. The 30-share BSE Sensex shed 213 points to close at 29380.73, after hitting a new high of 30024.74 intraday. The 50-share...
  • RBI cuts repo rate by 25 basis points to 7.5%, home loans may be cheaper 2 days ago

    Mumbai: In a surprise move, the Reserve Bank of India on Wednesday cut repo rate by 25 basis points from 7.75 per cent to 7.5 per cent with immediate effect. This is the second rate cut in the past two months. The cut in repo rate is likely to make home...
  • Sahara defaults on loan taken by Bank of China, prompts legal action 3 days ago

    New Delhi: In yet another development which will compound trouble for Sahara group, Bank of China may initiate legal action against it for defaulting on a loan, sources said. The sources also said Bank of China had financed Sahara's hotel buys for nearly $900 million. The development takes place even as...
  • Union Budget 2015: India to inject $1.3 billion to shore up state banks 5 days ago

    Mumbai: India will inject 79.4 billion rupees ($1.3 billion) into state-owned banks in the next fiscal year to bolster their capital reserves, a smaller-than-expected sum which means the sector's heavyweights may have to turn to the market or curb lending. Successive governments have poured billions into India's bad-debt burdened state banks,...
  • Government to set up Mudra Bank for priority to SC/ST entrepreneurs 6 days ago

    New Delhi: The government will a create a refinance agency, Mudra Bank with an initial corpus of Rs 20,000 crore to provide credit facilities to SC/ST businesses, Finance Minister Arun Jaitley said on Saturday. "I propose to create a micro units development refinance agency, Mudra Bank with a corpus of Rs...
  • Union Budget 2015: FM must set realistic revenue, spend targets, says Religare February 25, 2015

    Brokerage house Religare expects the government to continue on the path of fiscal consolidation in the upcoming Budget. But it has cautioned that unlike in the past, revenue and expenditure targets need to be realistically framed. Also, a credible fiscal consolidation strategy over the medium-term is highly anticipated and required,...
  • Union Budget 2015: Brokers demand lower taxes to boost investor participation February 24, 2015

    Rise in stock markets invariably is accompanied by spurt in volumes. However it can further go up, if the investors and traders are offered lower transaction charges. Transaction charges do account for taxes which are levied on the transactions. No wonder, brokers are vocal about cutting down the transaction charges...
  • Over 56 per cent polled expects a radical Budget, says Grant Thornton February 24, 2015

    It's less than six days to go for the Union Budget and expectations are running high. In an interview to CNBC-TV18, Pallavi Bakhru, director, Grant Thornton, said the euphoria quotient has never been higher. Discussing the firm's pre-Budget poll on India Inc's expectations from Finance Minister Arun Jaitley, Bakhru said...
  • Union Budget 2015: Time to gear up tax regime for outbound investments, says EY February 24, 2015

    With the changing landscape of Indian businesses, we are witnessing a significant and rapid geographical shift in doing business. Recent times have seen the Indian multinationals regularly flexing their muscle abroad. Not only has the last few years seen established Indian business houses making significant outbound investments into capital intensive...
  • Union Budget 2015: Government may pursue spending to push economic growth, says Aditya Birla Money February 24, 2015

    The annual budget will be presented on 28th February, 2015 and there is an air of expectation which has built up around it. This is Modi government's first full budget and hence a lot of emphasis is going to be placed on the government's flagship promises since 2014 (Swachh Bharat,...
  • Analysts see Budget meeting fiscal numbers February 24, 2015

    Mumbai: As the BJP-led ruling coalition at the Centre gets ready to present its first full-fledged Budget, analysts said the government is most likely to meet its ambitious 4.1 per cent fiscal deficit target, helped by lower oil prices. They also expect Finance Minister Arun Jaitley to stick to the...
  • Brokerages expect Budget to stay firm on fiscal consolidation February 24, 2015

    New Delhi: Expecting the upcoming Budget to stay firm on the fiscal consolidation roadmap, brokerage firms believe that higher allocation can be made for capital expenditure amid a sharp decline in oil subsidy bill. "We expect the government to continue on path of fiscal consolidation, budgeting for fiscal deficit of...
  • Sensex, Nifty end flat; FMCG & cap goods up, oil, banks dip February 24, 2015

    Mumbai: Equity benchmarks closed second session of the Budget week on a flat note on Tuesday as investors preferred to stay on the sidelines till the Budget gets announced (on Saturday). The consolidation in market was also ahead of expiry of February derivative contracts and Railway Budget that both will...
  • Market to remain jittery till Budget, like private banks: Quantum February 23, 2015

    Mumbai: The market tumbled on first day of crucial Budget week. The Sensex slumped 256 points to close at 28975, and the Nifty slipped 79 points to close at 8755. Speaking to CNBC-TV18, Neeraj Deewan of Quantum Securities said market volatility is likely to continue. Market is getting jittery ahead...
  • Stock market to remain volatile ahead of F&O expiry, Budget February 23, 2015

    New Delhi: Stock market is expected to remain volatile during the week due to key events such as presentation of economic survey and General Budget, and expiry of derivative contracts, say experts. The pre-budget expectations will start building up and corresponding sectors may see increased...
  • PSU bank employee unions withdraw strike call, settle wages February 23, 2015

    New Delhi: Employee unions of public sector banks on Monday withdrew their strike call following an agreement with the management on 15 per cent wage hike. "In today's talks, wage revision settled at 15 per cent with effect from November 2012," United Forum of Bank Unions (UFBU) Convener MV Murali said. The...
  • Afghan central bank branch employees raid their own bank and run February 22, 2015

    Staff at a branch of Afghanistan's central bank in southern Kandahar province may have got away with as much as 81 million Afghanis ($1.4 million) when they robbed their own bank and ran, an official said on Saturday.Security cameras showed the bank's vault had been cleaned out, but investigators were...
  • Arun Jaitley asks bank employee unions to withdraw strike call February 21, 2015

    New Delhi: Finance Minister Arun Jaitley on Saturday appealed to bank employee unions to call off their proposed four-day nationwide strike from February 25 as talks are on for a revision of wages of employees. The Minister said banks are already in negotiations with their unions and associations for wage...
  • Budget 2015: Muthoot Group chairman expects measures for reinstating gold loan under priority sector February 21, 2015

    New Delhi: The upcoming Union Budget is very crucial in terms of bringing the Indian economy back on growth track; curb the fiscal deficit and creating an investment friendly environment. Many industrialists are having high hopes from the Modi budget which will be presented in the parliament on February 28. Muthoot Group...
  • RBI warns banks against making 'mockery' of its lending operations February 20, 2015

    Mumbai: The Reserve Bank of India (RBI) is getting tougher on extending unlimited credit to the country's banks to try to ensure they push interest rate cuts through the financial system and to stop them from making what one official called a "mockery" of its operations. India's commercial banks readily borrow...
  • Bullet News: Catch the day's top stories February 18, 2015

    Bullet News is CNN-IBN's non-stop prime time bulletin where we bring to you the day's top stories from around the world. Be it politics, sports, entertainment or business, catch it here, only in 30 minutes. ...
  • News 360: Video nails Coast Guard DIG, seen boasting 'we blew off the Pakistan' boat February 18, 2015

    The Indian Express on Wednesday released the video showing Indian Coast Guard DIG BK Loshali claiming that he ordered the Pakistani boat which was near the Indian maritime border be blown off. ...
  • India @ 9 with Palki S Upadhyay February 18, 2015

    Catch the day's top stories with Palki S Upadhyay on India @ 9. ...
  • Automatic information exchange with India latest by 2018: Swiss government February 15, 2015

    Berne/New Delhi: In its fight against black money menace, India will have to wait till 2018 for Switzerland to provide bank account details of Indians under the 'automatic information exchange' framework. Under a global framework, more than 40 jurisdictions including India had agreed to become 'early adopters' of an 'automatic exchange...
  • FIIs pour Rs 10,000 crore in Indian capital markets in two weeks February 15, 2015

    New Delhi: Overseas investors have pumped in over Rs 10,000 crore in Indian capital markets in the first two weeks of this month on hopes of a pro-growth budget and rising expectations the government will accelerate reforms. The fund inflow this month takes the investment to above Rs 43,000 crore (USD...
  • CBI arrests Deccan Chronicle chief T Venkatram Reddy in fraud case February 14, 2015

    New Delhi: The Chairman of a Hyderabad-based English daily Deccan Chronicle T Venkatram Reddy was arrested on Saturday by CBI in connection with alleged default of Rs 357 crore loan from Canara Bank. CBI sources said the arrest was in connection with a case registered by it against the company Deccan...
  • IMF, World Bank to provide financial assistance to Ukraine February 13, 2015

    Washington: The IMF and the World Bank have agreed to provide massive financial assistance to strife-torn Ukraine US dollar 19.5 billion in all to bail it out of an economic crisis. The International Monetary Fund (IMF) and Ukraine on Thursday agreed on a US dollar 17.5 bailout package with the World...