Majority of ATMs have dried up in the financial capital of Mumbai and banking operations across the city were hit on the second day of the general strike called by central trade unions for various demands. ...
12:12 PM, Feb 21, 2013
The 48-hour bandh call given by 11 trade unions has affected Odisha. Train services and public transport system are the worst hit due to the strike. In Kerala, it seemed like a complete shutdown with no buses, taxis plying on roads. Mumbai remained normal and was unaffected by the bandh. ...
11:44 AM, Feb 20, 2013
With banks planning to monetise Kingfisher Airlines' securities to recover a debt of about Rs 7,000 crore, the grounded carrier today said it was continuing discussions with its lenders and had not received any formal communication from them on the matter. "We have received no formal communication from the banks till date. We are in continuing discussions with them on ways to bring down their exposure, inter alia, from the...
10:10 AM, Feb 16, 2013
Kingfisher lenders hope to recover up to Rs 1,000 crore of their dues by monetising the securities in the March quarter itself, a senior official of SBI said on Thursday. "That (selling the securities given as collaterals) is the plan," Shyamal Acharya, SBI Deputy Managing Director (Mid-Corporates Accounts), said at the bank's December earnings press conference in Mumbai. ...
02:58 AM, Feb 15, 2013
Actress Kristen Stewart will be seen in an erotic comedy genre for her next movie, 'The Big Shoe'. The 22-year-old, who is best known for her portrayal of Bella in the 'Twilight Saga' series, will be working with helmer Steven Shainberg for the upcoming project, reported Aceshowbiz. ...
04:28 PM, Feb 09, 2013
Union Finance Minister P Chidambaram on Sunday justified direct cash transfer to beneficiaries of welfare schemes and wondered why some are opposed to the move, which keeps middlemen at bay. "There is nothing wrong in welfare scheme funds going directly to accounts of beneficiaries without middlemen and pilferages," he said. ...
03:40 AM, Feb 04, 2013
Citigroup Inc is looking to pull out of consumer banking in more countries in an effort to lower costs and boost profits, according to two people familiar with the matter. In December, Citigroup said it was withdrawing from consumer banking in five countries - Pakistan, Paraguay, Romania, Turkey and Uruguay - as part of an expense reduction plan that will save $1.1 billion a year and eliminate 11,000 jobs. The...
11:22 AM, Jan 31, 2013
Finance Minister P Chidambaram said on Tuesday he saw no reason why companies that fulfill all RBI criteria should be denied banking licences as part of plans to shake up the country's bank sector. ...
11:42 AM, Jan 30, 2013
Borrowers can now look forward to their Equated monthly Instalment (EMIs) coming down soon as leading bankers on Tuesday said they will pass on the benefit of the Reserve Bank of India reducing its short-term lending rate and cash reserve ratio to customers. Bankers, however, did not say by how much or how soon they will reduce their lending rates. ...
05:45 PM, Jan 29, 2013
Reserve Bank of India (RBI) Governor D Subbarao on Wednesday asked banks to meet the target of providing banking facilities to small towns soon. "It is unfortunate that 90 per cent villages of the country do not have banking facilities. The target of RBI is to ensure that every family has a bank account," Subbarao said while addressing a programme here. ...
04:14 PM, Jan 16, 2013
Kingfisher lenders will soon decide on future course of action with regard to the grounded airline as they do not want the company to close down, State Bank of India (SBI) said on Monday. "The representatives met in Bangalore ... the plan for action the consortium is deciding. We don't want to put a lock on the company's office," the Chairman of SBI, lead lender to Kingfisher, Pratip Chaudhuri said...
05:30 AM, Jan 08, 2013
India has shortlisted six banks, including Goldman Sachs, Citigroup and Morgan Stanley, for a selldown of state shares worth $2.3 billion in power producer NTPC Ltd, three sources with direct knowledge of the sale said. ...
02:56 AM, Jan 07, 2013
It's that time of the year when we tell you which books turned out to be page turners and why. CNN-IBN tells you all about 2012's bestselling books. ...
11:32 AM, Dec 28, 2012
Bharti Infratel, backed by billionaire Sunil Mittal, fell as much as 12.7 per cent in its trading debut after raising about $760 million in India's biggest IPO in two years, weighed down by a cautious outlook for mobile tower operators. The IPO, priced near the lower end of an indicative price range, struggled to find interest from retail investors and was supported mostly by foreign institutional investors. But analysts are...
11:27 AM, Dec 28, 2012
The measures are expected to face steep challenges in their implementation at a time when confidence in the banking sector is low due to high valuations in the private sector and poor earnings at state-run lenders. ...
12:10 PM, Dec 21, 2012
The banking amendment bill approved by parliament on Dec 17 lays the groundwork for non-banking financial companies to win banking licences. ...
02:04 PM, Dec 19, 2012
Around 700,000 employees and officers of the public sector, private sector and foreign banks will strike work all over India on Thursday, an official said in Mumbai on Monday. Work in 27 public sector banks, 12 old generation private sector banks and eight foreign banks shall come to a standstill due to the strike, said Vishwas Utagi, secretary, All India Bank Employees' Association (AIBEA). ...
05:34 PM, Dec 17, 2012
To prevent the use of stolen cards, the Reserve Bank of India on Wednesday asked banks to consider issuing debit cards with photographs of the cardholders on them. "With a view to reducing the instances of misuse of lost/stolen cards, banks may consider issuing cards with photographs of the cardholder or any other advanced methods that may evolve from time to time," the RBI said while issuing guidelines for issuance...
07:44 PM, Dec 12, 2012
