New Delhi | December 13, 2013 18:21 (IST)
The government received complaints against banks and financial institutions for their deficient services and practices related to credit cards like undue penal charges, late payment charges, issue of unsolicited cards and harassing telephone calls.
Mumbai | December 13, 2013 16:09 (IST)
It said this in a note issued by its Singapore office, a day after the government released November's consumer price inflation (CPI) numbers.
New Delhi | December 13, 2013 15:48 (IST)
Banks have as much as Rs 3,652 crore of unclaimed deposits lying with them, with State Bank of India (SBI) alone accounting for about 15 per cent of the amount, the government informed Parliament on Friday.
December 13, 2013 10:42 (IST)
The rupee fell and bond yields surged on Friday after retail inflation spiked to its highest on record, raising expectations of another rate hike by the RBI and adding to the woes of the embattled government.
Kolkata | December 12, 2013 19:59 (IST)
Reserve Bank of India (RBI) Governor Raghuram Rajan on Thursday asked all regulators to be more vigilant in the wake of fraudulent money-pooling schemes, citing a need to expand the reach of the country's banking system.
New Delhi | December 12, 2013 19:43 (IST)
State Bank of India (SBI) has fixed an issue price of Rs 1,782.74 for a preferential allotment of shares to the government to raise Rs 2,000 crore as part of its capital infusion plan for the ongoing fiscal year (FY14).
Kolkata | December 12, 2013 19:41 (IST)
The RBI needed to break the back of inflation, but it would need to be careful given growth was weak, he added.
New Delhi | December 11, 2013 22:52 (IST)
An expert committee headed by former Reserve Bank of India (RBI) Governor Bimal Jalan has said it will submit its report on applications for new bank licences three months after the apex bank completes scrutiny of all 25 applicants.
Mumbai | December 11, 2013 22:05 (IST)
Gross non performing assets (NPAs) ratio of domestic banks will increase to 4.5 per cent by March 2014 and impact profitability by up to 30 per cent, Care Ratings said on Wednesday.
New Delhi | December 11, 2013 22:05 (IST)
State Bank of India (SBI), India's largest lender, has said it will raise Rs 9,576 crore through qualified institutional placement (QIP) of shares and the issue would come out before March, 2014.
Mumbai | December 11, 2013 17:06 (IST)
Banks' loan growth moved closer to the Reserve Bank of India's full-year projection, provisional data released by the apex bank showed on Wednesday.
Mumbai | December 09, 2013 20:50 (IST)
State Bank of India (SBI), the country's largest lender, on Monday said it has received government approval to raise Rs 9,576 crore through qualified institutional placement (QIP) in the ongoing fiscal year (FY14).
New Delhi | December 09, 2013 20:46 (IST)
Headed by senior BJP leader Yashwant Sinha, the Standing Committee on Finance also asked the RBI to review the guidelines on 'licensing of new banks in the private sector' issued on February 22.
New Delhi | December 09, 2013 17:22 (IST)
Attracted by a vast talent pool of business graduates, more than half of the world's top 40 banks have set up shops in India to run their back-office operations that may generate nearly 25,000 jobs in the coming time, according to HR consultancy Randstad India.
Mumbai | December 08, 2013 11:29 (IST)
The recent passage of the Pension Fund Regulatory and Development Authority (PFRDA) Act 2013 will spur growth potential of the investment corpus of the pension sector to over $1 trillion by the turn of 2025, according to a report by EY-CII.
Chandigarh | December 07, 2013 22:00 (IST)
State Bank of India (SBI) chairperson Arundhati Bhattacharya on Saturday simultaneously inaugurated 27 'all woman branches' of the lender falling in the Chandigarh circle.
London | December 06, 2013 01:29 (IST)
Deutsche Bank said on Thursday it is largely closing its global commodity business due to mounting regulatory pressure, becoming the biggest bank yet to exit the once lucrative sector.
New Delhi | December 05, 2013 19:53 (IST)
Finance Minister P Chidambaram on Thursday said a branch of Bharatiya Mahila Bank, India's first all-woman bank, would be set up in every state by the end of this fiscal year.
Mumbai | December 05, 2013 19:52 (IST)
Credit rating agency Icra has cautioned the banking industry may suffer more shocks due to a pile-up of their gross non-performing assets (NPAs), which are set to touch Rs 2.9 lakh crore, or 4.4 per cent of total assets, by the end of this fiscal year (FY14).
Washington | December 04, 2013 22:50 (IST)
The US Justice Department plans to bring civil mortgage fraud cases against several financial institutions early in 2014 using as a template the case that ended last month in JPMorgan Chase & Co's $13 billion settlement, US Attorney General Eric Holder said on Wednesday.