Mumbai: Indian banks would reduce their interest rates if the Reserve Bank of India cuts its key lending rate at its mid-term 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 also heads the state-run Punjab National Bank, and other top bankers met Duvvuri Subbarao and the four deputy governors at a pre-monetary policy consultation.
Kamath said the central bank officials asked lenders if they would pass any reduction in policy rates to their customers, which has not been an usual practice with the central bank at such meetings.
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12:49 PM, Oct 06, 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, but the banking system remained resilient even under extreme stress scenarios," the apex bank said in its Financial Stability...
11:08 PM, Jun 28, 2012
Mumbai: All banks, including private sector lenders, will remain open till 5 pm on Saturday for special clearings of government transactions for 2011-12. 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 the current financial year (2011-12). Banks have also been advised to ensure that the clearing houses under their jurisdiction...
09:37 PM, Mar 30, 2012
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 statement on Wednesday. "With asset quality, given the tightening environment, we anticipate that it will deteriorate over the next...
12:23 PM, Nov 09, 2011
India's largest private sector bank hurt by bad debts and slowing loan growth. ...
04:11 PM, Apr 25, 2009
Over the next five years, govt will spend Rs 4000 crore on the new edu scheme. ...
08:13 AM, Sep 11, 2008
Indian Bank raises lending rates to 14 per cent, effective from Monday. ...
03:17 PM, Aug 12, 2008
PSU bank employees have threatened to strike work from March 28 to 30, stopping the fiscal machinery for 5 days. ...
08:01 PM, Mar 18, 2007
