August 21, 2014 23:16 (IST)
Hinting at tightening of banks' single group exposure cap from the current 40 per cent, the Reserve Bank of India (RBI) on Thursday said it will be reviewing this credit limit to gradually align it with the global group exposure practices and mitigate risks.
August 21, 2014 22:43 (IST)
Life Insurance Corporation (LIC), India's largest life insurer, has tied up with all the five insurance repositories to enable its policyholders to manage their policies through a single account.
August 21, 2014 21:28 (IST)
Government officials painted an upbeat picture for the economy on Thursday, as it struggles to emerge from the longest spell of sub-par growth in decades, and promised to tighten up risk management at the country's dominant state banks.
August 21, 2014 19:33 (IST)
Reserve Bank of India (RBI) Deputy Governor R Gandhi on Thursday said the apex bank was in talks with the government to amend a law to regulate entities engaged in shadow banking.
August 21, 2014 18:08 (IST)
The Reserve Bank of India (RBI) on Thursday said its surplus (profit) for fiscal year 2013-14 declined 14.75 per cent to Rs 52,679 crore as interest income from investments in foreign sovereign bonds declined during the year even as its investments increased.
August 21, 2014 13:24 (IST)
Credibility is of extreme importance Mr Jaitley stressed while adding that that the government is acting upon professionalising banks. Banks must endeavour to raise their standards, he added.
August 21, 2014 13:11 (IST)
Mr Jaitley did not name any bank, but his comments followed the launch of an investigation into whether the head of state-controlled Syndicate Bank took bribes to roll over a loan to family-controlled Bhushan Steel.
Mumbai | August 20, 2014 22:17 (IST)
He said as the banks have to meet the Basel III norms (needed for stable global banking system), the government will raise money for the next four years by way of equity capital.
Mumbai | August 20, 2014 21:12 (IST)
The alleged embezzlement comes weeks after the head of another state-run lender, Syndicate Bank Ltd, was detained over allegations he had sought bribes to favour debtors.
August 20, 2014 21:07 (IST)
The terms of reference of the working group include, reviewing current tax structure as applicable to various financial instruments issued in the Indian financial system and identifying possible 'tax arbitrage' among financial instruments under the extant tax structure.
August 20, 2014 16:39 (IST)
The lenders are alleged to have indulged in siphoning off the money (Rs 180 crore by OBC and Rs 256 crore by Dena Bank) received as fixed deposits.
New York | August 20, 2014 15:48 (IST)
The civil settlement announced on Tuesday by Benjamin Lawsky, the New York State financial services superintendent, came two years after Standard Chartered agreed to pay $667 million to a variety of US regulators to resolve similar charges, including $340 million to Lawsky's office.
Mumbai | August 20, 2014 13:54 (IST)
Financial Services Secretary G.S. Sandhu was reacting to recent media reports that RBI Governor Raghuram Rajan was looking to establish a COO position with deputy-governor ranking at the central bank.
August 20, 2014 11:43 (IST)
Shares in Dena bank and Oriental Bank of Commerce (OBC) fell as low as 5 per cent on Wednesday on reports that Mumbai-based branches of these banks have misappropriated funds to the tune of Rs 436 crore.
August 19, 2014 18:49 (IST)
ICICI Bank has launched an equated monthly instalment (EMI) scheme on debit card purchases, making it the first of its kind facility.
New Delhi | August 19, 2014 16:33 (IST)
The officials of both DEA (Department of Economic Affairs) and DIPP (Department Of Industrial Policy & Promotion) are of view that promoter HDFC Ltd's 22.56 per cent stake in HDFC Bank is foreign investment.
August 18, 2014 19:32 (IST)
Expanding its global footprint, HDFC Bank has opened a branch in Dubai to provide wealth management services to the large Indian diaspora in the Gulf city.
New Delhi | August 17, 2014 16:34 (IST)
The Finance Ministry has asked the banks to formulate women-friendly transfer policies so that they can get transfers at places where their husbands are working or parents are living.
August 16, 2014 19:47 (IST)
Prime Minister Narendra Modi has said that the name of a scheme announced on Friday to financially empower the poor was selected through a contest on website 'Mygov'.
August 16, 2014 16:38 (IST)
Canara Bank on Saturday said it aims at cash recovery of Rs 6,500 crore this fiscal year which may result in lowering of non-performing assets (NPA).