July 06, 2015 20:01 (IST)
In 2014-15, new business premium for private sector players rose by 18 per cent, while for LIC it contracted by 13 per cent mainly due to decline in its individual business.
July 06, 2015 18:54 (IST)
About 56 per cent of the respondents in India continued to rank the unmanageable volatility in financial markets as their biggest worry.
July 06, 2015 15:13 (IST)
Reserve Bank of India Deputy Governor R Gandhi on Monday said public sector banks need a higher capitalisation than budgeted to strengthen balance sheet and dealing with non-performing assets (NPAs).
July 06, 2015 11:22 (IST)
Capital needs are likely to increase substantially each year up until FY19, it said adding there were few indications of a meaningful recovery in earnings in the short-term, though stressed assets are likely to have peaked and NPL (non-performing loan) accretion is easing.
July 05, 2015 18:25 (IST)
The demand will be split evenly between term loans of slightly longer duration as well as working capital loans, he said, adding the bank has a bias towards taking balance sheet-led term-loan exposures wherein it sees a company's balance sheet strength to service the debt.
July 05, 2015 17:47 (IST)
As of March end, the SBI Group has issued over 20.59 crore debit cards, which is highest in the country.
July 05, 2015 17:12 (IST)
RBI, in June 2 monetary policy review, cut the repo rate (short-term lending rate) from 7.5 per cent to 7.25, but left all other policy tools like cash reserve requirement unchanged at 4 per cent and Statutory Liquidity Ratio at 21.5 per cent.
July 05, 2015 17:04 (IST)
The minister, sources said, will attend the inaugural meeting of the Board of Governors of the New Development Bank at Moscow.
July 05, 2015 15:20 (IST)
Micro-finance institution Bandhan Financial Services, which got the final license from Reserve Bank of India to start universal banking, would formally start operations as a banker from August 23.
July 04, 2015 20:21 (IST)
State-owned Corporation Bank on Saturday launched Mudra, or Micro Units Development and Refinance Agency, card for small enterprises, based on the RuPay platform.
July 03, 2015 22:40 (IST)
State Bank of India, the country's largest lender, on Friday launched an initiative to expedite its home loan application process and provide doorstep services.
July 03, 2015 22:38 (IST)
A legislation to operationalize MUDRA (Micro Units Development and Refinance Agency) Bank is likely to be introduced in the winter session of Parliament, a top official said here on Friday.
July 03, 2015 21:25 (IST)
United Bank of India on Friday announced reduction of 0.25 per cent in deposit rates across various maturities.
July 03, 2015 19:16 (IST)
Kotak Mahindra Bank's proposal to raise foreign investment limit in the lender to 55 per cent was cleared by the Foreign Investment Promotion Board (FIPB) on Friday.
July 02, 2015 22:14 (IST)
RBI will put in place a regulatory framework to allow a new kind of Non-Banking Finance Company (NBFC) which could act as account aggregator, Governor Dr Raghuram Rajan told reporters after the central bank's board meeting held on Thursday.
July 02, 2015 21:02 (IST)
Furthermore, the bank said it has appointed M K Sharma non-executive part-time chairman, post RBI approval.
July 02, 2015 20:16 (IST)
It would also allow banks to take some decisions which may imply that they would need to use some of that capital for cleaning of the balance sheet, he said.
July 02, 2015 20:04 (IST)
The RBI for long had been planning to launch plastic currency notes after field trials. It had also received tender bids for one billion notes.
July 02, 2015 19:09 (IST)
Ms Bhattacharya said with the ebbing inflationary pressures, there may be further scope for monetary stimulus to pump up domestic demand.
July 02, 2015 16:47 (IST)
The Security Printing and Minting Corporation of India (SPMCIL), under the central government, said in the RTI response that the cost is subject to audit, which is in progress, for financial year 2014-15.