INDIAN BANK

  • Indian Bank to employ Tihar inmates at its prison branch June 22, 2014

    New Delhi: Tihar Jail inmates with proven good conduct and qualifications will soon be working at "nonsensitive" positions at the Indian Bank branch at the prison. "We have been associated with Tihar Jail for the past several years and our branch there today has a business of Rs 100 crore. A...
  • Bank unions threaten to go on twoday strike from February 10 January 27, 2014

    Dissatisfied with the wage hike offer made by Indian Banks' Association (IBA), public sector lenders' employee unions on Monday threatened to go on a twoday strike from February 10. "In today's meeting, IBA improved their offer by meager 0.5 per cent to 10 per cent on pay slip cost. This was...
  • Rupee closes flat; RBI rate decision key October 25, 2013

    The rupee ended flat on Friday, but extended losses for a second week, as caution set in ahead of an expected interest rate hike by the central bank at its policy review next week. The Reserve Bank of India is widely expected to raise its key repo rate by 25 basis...
  • Best Bankers' Awards: Celebrating excellence in banking sector October 6, 2013

    Top bankers come together for Best Bankers' Awards to celebrate excellence in banking sector. ...
  • Ex-CMD of Indian Bank, 14 others get 1-year jail for illegally granting loans September 7, 2013

    Former Indian Bank Chairman and Managing Director M Gopalakrishnan and six other former top bank officials were sentenced to one year rigorous imprisonment by a CBI court on Saturday in Chennai for allegedly causing a loss of Rs 31.75 crore by granting loans without proper security between 1992-96. Principal Judge for...
  • RBI Governor meets Maha CM; Chavan seeks banking sector help September 6, 2013

    Mumbai: Maharashtra Chief Minister Prithviraj Chavan Friday said banking sector should come forward to strengthen the cooperative sector in the state. Chavan said this during a meeting with the new RBI Governor Raghuram Rajan, a spokesperson for the Chief Minister said. Considering the economic downturn, the banking sector should help strengthen the...
  • Money laundering investigation should be done by ED: Aniruddha Bahal June 21, 2013

    Successive Cobrapost investigations has shown private and nationalised Indian banks as well as foreign banks flouting RBI rules and regulations. How can the banking industry be streamlined? Aniruddha Bahal, editorinchief of Cobrapost.com, joined IBNLive readers for an interaction on the matter. Q. At present all the know your customer is only...
  • Aadhar will bring transparency in the banking sector: Latha Venketesh June 20, 2013

    With successive Cobrapost sting operations revealing widespread violation of RBI guidelines and rules by stateowned banks, private Indian banks and even foreign banks, how can the system be streamlined so that the banks tow the line? CNBCTV18's banking editor Latha Venkatesh joined IBNLive readers for an interaction on the issue. Q....
  • BCCINimbus row: Supreme Court orders banks to deposit Rs. 400 crores April 15, 2013

    Delhi: The Supreme Court on Monday ordered three nationalised banks associated with Nimbus Communications and the BCCI to deposit within 15 days the sum of Rs 400 crore after the Indian cricket board had filed an Special Leave Petition (SLP) regarding the scrapping of the broadcast deal with Nimbus citing...
  • Banks to follow suit if RBI cuts rate: IBA chief October 6, 2012

    Mumbai: Indian banks would reduce their interest rates if the Reserve Bank of India cuts its key lending rate at its midterm policy review on October 30, the chief of an Indian banks' body assured the central bank governor on Friday. KR Kamath, chairman of the Indian Banks' Association, who...
  • No direct risk to Indian banks from Eurozone: RBI June 28, 2012

    Mumbai: The Reserve Bank of India on Thursday said the country's banking sector has emerged resilient after a series of stress tests it conducted on the lenders. "The stress tests carried out on banks, incorporating a range of shocks, revealed deterioration in their capital position as compared with the baseline scenario,...
  • All banks to remain open till 5 pm on March 31 March 30, 2012

    Mumbai: All banks, including private sector lenders, will remain open till 5 pm on Saturday for special clearings of government transactions for 201112. The Reserve Bank has directed private and public sector banks to remain open on March 31, 2012, with a view to facilitate accounting of all government transactions for...
  • Moody's downgrades Indian banking system November 9, 2011

    Mumbai: Moody's Investors Service has changed its outlook for India's banking system to "negative" from stable citing concerns of increasingly challenging operating environment that is likely to adversely hit asset quality, capitalisation, and profitability. "A "negative" outlook is one that is characterised by volatility and uncertain conditions," Moody's said in the...
  • Indian banks healthy but stress signals showing October 5, 2011

    The past three months have been tough for Indian banking. High interest rates and threats of a global recession have taken their toll on bank stocks. The NSE banking index fell 15 per cent compared with the Niftys 11 per cent slide in the past three months. Indian banks, ironically,...
  • ICICI Bank reports 10 pc drop in net profits April 25, 2009

    Mumbai: ICICI Bank, the countrys largest private sector bank, has reported a 9.6 percent drop in net profit after tax at Rs.3,758 crore ($741 million) for the year ended March 31, against Rs.4,158 crore ($820 million) for the year before. The bank's board of directors, which met here on Saturday to...
  • Govt to back poor students' higher education loans September 11, 2008

    New Delhi: The nuclear deal almost done, the UPA has now decided to look into other areas of administration. So the focus has shifted to education and the UPA government's long standing proposal to provide cheaper education loans to students for higher education will be considered by the union cabinet...
  • Indian Bank hikes lending rates to 14 per cent August 12, 2008

    Mumbai The public sector Indian Bank has increased its benchmark prime lending rates by 75 basis points to 14 per cent per annum with effect from Monday. However, the home loan floating rates for sanctioned limits up to Rs 3 million for both existing and fresh accounts are not being revised. Educational...
  • FM urges rural India to be banksavvy March 19, 2007

    Sivagangai District (Tamil Nadu): Finance Minister P Chidambaram is inaugurating Indian Bank's thousandth core banking solutionsenabled branch, which has been set up in the FM's own constituency, Sivagangai. While the FM's farmer focussed budget is not exactly music to the industry's ears, the FM continues with his chorus, urging his...
  • Bank strike looms large over monthend March 18, 2007

    Mumbai: The financial year 200607 was a good one for corporate India, but it could end on a cashstrapped note. A threat by the PSU bank employees to strike work from March 28 to 30 threatens to shake the entire fiscal machinery at the monthend. As many as 10 lakh bank...
  • Indian Bank mulls IPO early next year October 16, 2006

    New Delhi: Stateowned Indian Bank is likely to come out with an IPO of 8.9 crore shares in January 2007, to raise Rs 8001200 crore to augment its capital base and support business expansion. "About 8.9 crore shares will be offloaded at a price to be decided through the bookbuilding process,"...