New Delhi | May 19, 2013 19:37 (IST)
Taking a cue from the continued downward surprises in inflation and sluggish growth indicators, the Reserve Bank of India (RBI) is likely to go for further monetary easing in its June 17 policy meet, global investment banking majors have said.
Mumbai | May 19, 2013 13:23 (IST)
Amid allegations of co-operative banks being used as conduits for money laundering, the National Bank for Agriculture and Rural Development (Nabard), which jointly regulates such lenders, has said that it has found no shortcoming pointing towards any such activity.
Kolkata | May 18, 2013 15:04 (IST)
State Bank of India (SBI) would review returns from its foreign and domestic business after margins overseas came under pressure, the country's largest banker said on Saturday.
Port Louis | May 17, 2013 14:57 (IST)
The 21 players in the Mauritian banking industry comprise 7 local banks, 9 foreign owned subsidiaries, one joint venture and 4 branches of foreign banks. All the banks are licensed by the Bank of Mauritius to carry out banking business locally and internationally.
May 16, 2013 22:51 (IST)
Private sector lender ICICI Bank today said its Canadian subsidiary has repatriated Canadian dollars 75 million (about Rs 400 crore) of capital back to the parent.
May 16, 2013 20:46 (IST)
The Reserve Bank, which had bought $840 million of forex in March in an effort to shore up the reserves after a two-year hiatus, has leg room to snap up $9 billion more from the market, brokerage Bank of America Merrill Lynch (BofA-ML) said in a report today.
Paris | May 16, 2013 20:08 (IST)
BNP Paribas, France's No. 1 listed bank, will spend 80 million euros this year to launch a Europe-wide online bank as lenders cast their net wide for funding in a slowing economy.
May 15, 2013 19:44 (IST)
HSBC will redouble cost-cutting efforts, including axing up to 14,000 more jobs, but Europe's largest bank was forced to soften a key performance target in the face of muted revenue.
May 14, 2013 15:04 (IST)
Commenting on the recent correction in gold prices, Mr Alexander said, "For our customers correction in gold prices doesn't mean they will abandon their loan."
New Delhi | May 13, 2013 21:07 (IST)
The Reserve Bank of India (RBI) has unearthed various discrepancies, including non-compliance of KYC norms and fictitious PAN, in its probe following the Cobrapost expose that alleged money laundering by banks.
Mumbai | May 13, 2013 14:37 (IST)
For the full fiscal ending March, BoI reported a net profit of Rs 2,749.35 crore, a growth of 2.69 per cent as compared to Rs 2,677.52 crore in the year ago period.
Mumbai | May 13, 2013 12:57 (IST)
Earlier on Monday, the lender posted a 32 per cent fall in March quarter net profit to Rs 1,030 crore as bad debts rose from a year earlier.
May 12, 2013 16:44 (IST)
State-owned Canara Bank plans to raise up to $1 billion (about Rs 5,487 crore) through bonds this month from the overseas market to fund global business expansion.
May 12, 2013 15:36 (IST)
As the Reserve Bank gears up for a trial of plastic currency notes, it has to dispose of soiled paper currency bills worth an estimated amount of over Rs 2 lakh crore a year.
May 10, 2013 15:20 (IST)
In the first such move since RBI cut its key rates last week, state-run IDBI Bank today cut its fixed deposit rate offering in two maturities by up to 0.50 per cent.
May 10, 2013 09:13 (IST)
Amid fresh allegations of money laundering by banks, RBI and several banks on Thursday said actions are being taken against erring institutions and employees for violating prudential banking norms.
Mumbai | May 10, 2013 00:04 (IST)
According to international rating agency Fitch, the asset quality woes of banks are unlikely to ease any time soon and the gross non-performing assets are set to inch up to 4.4 per cent this fiscal from the likely reading of 4.2 per cent in 2012-13.
Chandigarh | May 09, 2013 23:40 (IST)
Bank officials' advices of splitting deposits to evade taxes, as exposed in a sting operation by an online news portal, are "undesirable loose talks" but there is no apparent criminality, SBI chairman Pratip Chaudhuri said on Thursday.
Srinagar | May 09, 2013 16:19 (IST)
The Reserve Bank of India (RBI) said on Thursday that Islamic banking is not consistent with current banking laws in India.
Mumbai | May 09, 2013 15:33 (IST)
State-run lenders in India posted a sharper decline in bad loans than expected in the March quarter, raising investor hopes that the worst is past for a sector hurt by the slowest economic growth in a decade.