September 17, 2014 23:59 (IST)
The Insurance Regulatory and Development Authority has raised the limit of losses required to be surveyed for settlement of claims in flood-hit Jammu & Kashmir to Rs 50,000 from Rs 20,000 earlier.
September 17, 2014 22:35 (IST)
Bank credit growth continued to remain sluggish with addition being a tepid 9.6 per cent to Rs 61,40,925 crore for the fortnight to September 4, data from the Reserve Bank of India showed on Wednesday.
September 17, 2014 15:47 (IST)
The announcement comes on the day Chinese President Xi Jinping arrived in India, where the two countries are expected to sign trade and investment deals worth billions of dollars.
September 17, 2014 15:44 (IST)
Earlier this month, United Bank of India had declared Kingfisher Airlines, its promoter Vijay Mallya and three other directors as wilful defaulter citing alleged diversion of funds.
September 17, 2014 15:13 (IST)
Observing that no specific law provisions were cited by Singh, the court wondered as under which law provision such directions can be given by the court, for return of amount to him.
September 17, 2014 11:23 (IST)
State Bank of India, the country's largest lender, on Tuesday said it has written to the Reserve Bank (RBI) to increase the daily cash withdrawal limit from merchant outlets having POS (point of sale) machines to Rs 5,000.
September 16, 2014 23:28 (IST)
Final guidelines for on tap universal banking licences will be issued in the current fiscal, Reserve Bank Deputy Governor R Gandhi said on Tuesday.
September 16, 2014 19:34 (IST)
India's unrestricted category of government bond debt limit worth $25 billion is 98.98 percent exhausted, triggering hopes that it would be relaxed soon.
September 16, 2014 18:55 (IST)
According to estimates, recast loans at about Rs 3.5 lakh crore constitute nearly 6 per cent of the total banking system.
September 16, 2014 13:11 (IST)
Simultaneously, SBI has also increased the deposit rate for the 180-210 days deposits to 7.25 per cent from 7 per cent earlier.
September 15, 2014 19:19 (IST)
Life Insurance Corporation (LIC) has relaxed claim settlement procedure for those affected in the Jammu and Kashmir floods and a special help desk has been set up for expeditious claim processing.
September 15, 2014 15:50 (IST)
The scheme can be a "waste" if it leads to duplication of accounts, if no transaction happens on the new accounts and if the new users get bad experiences, he added.
September 15, 2014 11:17 (IST)
Public sector banks need to improve monitoring of loans and root out "bad apples" and "bad practices," Reserve Bank of India Governor Raghuram Rajan said on Monday, as the sector continues to struggle with bad assets.
September 14, 2014 21:14 (IST)
Cracking down on money laundering, the Reserve Bank of India (RBI) has closed down six urban cooperative banks (UCBs) suspected of being used to route illegal money.
September 14, 2014 14:43 (IST)
As part of its 'go-green' initiative, HDFC Bank has started sending PIN for debit card holders through SMS instead of the practice of sending it by post.
September 14, 2014 13:29 (IST)
As industrialist Vijay Mallya fights his wilful defaulter tag, former Comptroller and Auditor General (CAG) Vinod Rai has said Kingfisher Airlines' loan default is just a "trickle" and the overall problem of huge bad loans at public sector banks can be blamed on 'cronies' using connections to borrow money.
September 14, 2014 12:34 (IST)
The Reserve Bank of India (RBI) is likely to issue the final guidelines on small and payments banks within 2-3 months, paving the way for corporates to enter these two segments.
September 12, 2014 22:37 (IST)
The Finance Ministry is finalising a draft Cabinet note on reducing government stake in PSU banks to up to 52 per cent as part of its recapitalisation drive.
New Delhi | September 12, 2014 17:59 (IST)
The bank, acting through its Dubai branch, floated 5.5 year fixed rate notes under Rule 144A/Reg S format, ICICI Bank said in a statement.
September 11, 2014 21:14 (IST)
As of September 8, State Bank has opened about 21.16 lakh accounts in rural areas and 8.8 lakh accounts in urban areas, Financial Services Secretary G S Sandhu said.