Private Banks

  • 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, editor-in-chief of Cobrapost.com, joined IBNLive readers for an interaction on the matter. Q. At present all the know your customer is only...
  • Money laundering: RBI gives clean chit to private banks March 21, 2013

    New Delhi: Reserve Bank of India Deputy Governor KC Chakrabarty has given a clean chit to private banks named in the Cobrapost expose on money laundering. The Central bank said there was no systemic issue involved in the Cobrapost allegations. According to Chakrabarty, there were no irregularities in the way the...
  • Money laundering: Banks on a damage control spree March 16, 2013

    New Delhi: Private banks are in damage control mode after their employees were shown aiding money laundering in a sting operation by online magazine Cobrapost. While ICICI Bank has suspended 18 employees pending an investigation, HDFC Bank says it has ordered a probe by independent agencies on the expose. HDFC Bank...
  • Money laundering by banks: Kotak Mahindra denies allegations March 15, 2013

    New Delhi: After CNN-IBN accessed a confidential government investigation report which highlighted how several private banks were involved in conversion of black money into white, Kotak Mahindra Bank has refuted all the allegations. "We wish to clarify that no such transactions by the alleged person have been routed via Kotak...
  • I challenge the three bank heads to an open debate: Aniruddha Bahal March 15, 2013

    A sting operation conducted by online magazine Cobrapost across various branches of private banks has revealed how bank employees are accepting black money from customers to convert them into white money. Cobrapost Editor Anirudh Bahal has insisted that leading private banks like HDFC Bank, ICICI Bank and Axis Bank are...
  • Govt officials were informed of money laundering in banks: Report March 15, 2013

    New Delhi: A confidential government investigation report highlighting how several private banks were involved in conversion of black money into white has been accessed by CNN-IBN. The government investigation focussed on a Delhi-based middleman named Abdul Munaf Khan who allegedly deposited cash to the tune of Rs 100 crore in...
  • HDFC Bank, ICICI Bank, Axis Bank involved in money laundering: Report March 14, 2013

    New Delhi: A sting operation conducted by online magazine Cobrapost across various branches of private financial institutions has revealed how bank employees are accepting black money from customers to convert them into white money. Cobrapost claims that the nationwide operation shows how private banking and insurance affiliates launder money as...
  • Pvt banks detect maximum fake notes: Finance Ministry February 26, 2013

    New Delhi: Private banks operating in the country have detected and processed the maximum number of counterfeit currency instances in banking channels surpassing both public sector and foreign banks by a huge margin, an official report of the Finance Ministry has said. All the banks in the country - private, public...
  • Private, public sector banks on strike on Tuesday December 17, 2012

    Mumbai: 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...
  • IBPS banking exams: CWE Score Card July 10, 2012

    IBPS sends printed score cards to every qualifying candidate. The score card is sent by Registered or Speed Post at the candidate's address. Candidates must take care while filling the address in their online application as the same address is used for sending the score cards. VALIDITY OF CWE SCORE...
  • SBI PO Exam: Eligibility and exam pattern July 6, 2012

    The State Bank of India is the country’s oldest bank and a premier in terms of balance sheet size, number of branches, market capitalization and profits. Earlier known as the Imperial Bank of India, it got its current name in 1955 after its nationalisation by the government of India. The...
  • Computer abbreviations for Bank exams July 6, 2012

    Computer terminologies and abbreviations are frequently askedd in Bank PO and other bank exams like the Specialist Officer exam. Here is an extensive list of short-forms or abbreviations related to computers and IT: ACE: Access Control Entry ADSL: Asymmetric Digital Subscriber Line AGP: Accelerated Graphics Port AI: Artificial Intelligence ALGOL: Algorithmic Language ALU: Arithmetic Logic Unit ANSI:...
  • Banking: Syllabus for IBPS (CWE) Clerk exam July 5, 2012

    Bank Type: Nationalized Banks Bank Name: Bank CWE (IBPS) Job Profile: Clerk EXAM PATTERN 1. Reasoning: 50 questions of 50 marks 2. English Language: 50 questions of 50 marks 3. Numerical Ability: 50 questions of 50 marks 4. General Awareness: 50 questions of 50 marks 5. Computer Knowledge: 50 questions of 50 marks Total: 250 marks EXAM SYLLABUS 1. ENGLISH LANGUAGE Vocabulary:...
  • Banking: IBPS (CWE) Specialized Officer (SO) Syllabus July 5, 2012

    Bank Type: Nationalized Banks Bank Name: Bank CWE (IBPS) Job Profile: Specialist Officer EXAM PATTERN For Law Officer and Rashtabhasah Adhikari 1. Reasoning: 50 questions of 50 marks 2. English Language: 50 questions of 25 marks 3. General Awareness: 50 questions of 50 marks 4. Test of Professional Knowledge: 50 questions of 75 marks Total marks: 200 For...
  • Career in Banking: IBPS (CWE) Bank PO Syllabus October 8, 2012

    IBPS stands for the Institute of Banking Personnel Selection which conducts a Common Written Exam (CWE) to recruit Bank POs. Bank Type: Nationalized Banks Bank Name: Bank CWE (IBPS) Bank Exam: Bank CWE (IBPS) Job Profile: Probationary Officer / Management Trainee EXAM SYLLABUS 1. ENGLISH LANGUAGE (25 marks, 50 questions) Vocabulary: Synonyms, Antonyms, Homonyms, Word Formation, Sentence...
  • Career in Banking: Details of the job profiles July 5, 2012

    Probationary Officer (PO)/Management Trainee (MT) A Probationary officer (PO) or a Management Trainee (MT) is the first level to enter the banking world. He or she reports to immediate seniors who evaluate his performance in the tasks assigned to him. Initially, a Probationary Officer can be assigned any work from a...
  • Job Profiles in Banking: Specialist Officer July 5, 2012

    A Specialist Officer in a bank is appointed for specialised roles in various departments, according to their expertise and educational background. Some of the Specialist Officer positions in Banks are: Information Technology Officer Agriculture Field Officer Rajbhasha Adhikari Law Officer Technical Officer HR/Personnel Officer Marketing Officer ...
  • Job Profiles in Banking: PO or Management Trainee July 5, 2012

    A Probationary officer (PO) or a Management Trainee (MT) is the first level to enter the banking world. He or she reports to immediate seniors who evaluate his performance in the tasks assigned to him. Initially, a Probationary Officer can be assigned any work from a wide gamut of ongoing...
  • Career in banking: Types of banks in India July 5, 2012

    Central Banks A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. The primary function of a central bank is to provide the nation's money supply, but more active duties include controlling...
  • Looking for a career in banking? July 5, 2012

    In the next five years, commercial banks will have to recruit almost 7.5 lakh people. There are 6 different Bank categories based on their ownership, functions, and national/regional/rural focus. They are Central, Nationalized, Grameen, Cooperative, Private and Foreign Bank types. IBPS CWE (Common exam for all nationalized banks except SBI)...
  • Guidelines for new banking licences by March-end February 28, 2011

    New Delhi: The Reserve Bank of India (RBI) will issue guidelines for new banking licences by the end of the current fiscal. "RBI is planning to issue the guidelines for banking licences before the close of this financial year," Finance Minister Pranab Mukherjee said on Monday during his presentation of the...
  • Now, ICICI raises lending, deposit rate August 17, 2010

    MUMBAI: ICICI Bank, India's second-largest lender, said it was raising its lending rates by 50 basis points from Wednesday, in line with the Reserve Bank of India's tightening policy. The private-sector lender said its prime lending rate would be 16.25 per cent and the floating reference rate for consumer loans would...
  • Private banks likely to follow cuts in loan rates March 5, 2009

    New Delhi: The heat is on private banks to reduce interest rates now that the Central bank has consistently been reducing its lending rates. In the last 5 months, the Reserve Bank has cut the repo rate 5 times and the reverse repo thrice. Despite public appeals by the...
  • Rate cut war: Should I shift my home loan? February 6, 2009

    In a dramatic move earlier this week, the country’s largest public sector bank, State bank of India (SBI ) cut the interest rates on new home loans to 8 per cent. LIC Housing Finance followed suit with a rate of 8.75 per cent. With most other banks, especially leading private...
  • Customers bank on PSUs, private banks' growth slows January 28, 2009

    New Delhi: Thirty-five-year-old psychologist Shaily Pant is a worried woman these days. She has parked all her savings in a private bank, but the recent financial turmoil - falling of big banks like Lehman brothers, Morgan Stanley and Washington Mutual - has forced her to think of transferring her funds...
  • 9 of family found dead, note says harassment by bank March 30, 2008

    New Delhi: Nine members of a family in Kurukshetra, Haryana are feared to have committed suicide. Reportedly, the head of that family - a businessman - was struggling to repay a loan running into crores. The loan was taken from a leading private bank. The head of the family was...
  • Private banks can't bank on muscle power: RBI October 31, 2007

    Mumbai: For people like Lucky, the RBI's strong words on loan rocovery agents will surely come as a setback. He's been 18 years into the business of recovering loans for big private banks — a pro at the job. "We threaten people, we land up at their place, sometimes we even...