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.
Mumbai | December 04, 2013 20:18 (IST)
All over-the-counter transactions by banks in currency swaps and interest rate derivatives will have to be reported to the Clearing Corporation of India Ltd (CCIL) effective December 30, the Reserve Bank of India (RBI) said on Wednesday.
Mumbai | December 03, 2013 21:47 (IST)
The Reserve Bank of India (RBI) on Tuesday allowed core investment companies to raise external commercial borrowing (ECB) for projects floated as special purpose vehicle (SPV) in order to strengthen the flow of resources into the infrastructure sector.
December 03, 2013 14:35 (IST)
Canara Bank on Tuesday lowered fixed deposit rates by up to 1 per cent on select maturities.
Mumbai | December 02, 2013 23:15 (IST)
A specially-constituted Reserve Bank of India (RBI) panel on Monday submitted a draft report on implementing the counter-cyclical capital buffer (CCCB) framework that called for setting aside up to 2.5 per cent of the risk-weighted assets based on the credit-to-GDP ratio and growth in gross NPAs of banks.
Mumbai | December 02, 2013 21:35 (IST)
To protect the financial system from risks emanating from large banks, the Reserve Bank of India (RBI) on Monday floated draft guidelines for the domestic systemically important banks (D-SIBs) that would require such lenders to maintain an additional core capital of up to 0.80 per cent starting 2015.
Mumbai | December 02, 2013 20:02 (IST)
The Reserve Bank of India (RBI) on Monday issued updated guidelines for stress-testing of banks which will be effective from April. The move will ensure that the existing stress testing practices are sufficient and robust to cope with the rapidly changing circumstances, the apex bank said.
Mumbai | December 02, 2013 16:41 (IST)
DFS secretary Rajiv Takru had last week said the report would be submitted by the week-end, and government, the majority shareholder, will decide the course of action only after that.
Geneva/New Delhi | December 01, 2013 22:32 (IST)
Stepping up their efforts to curb flow of unaccounted money, Swiss banks will strengthen their due diligence of overseas clients and advise them to comply with international tax regulations. To ensure compliance with global regulations, the Swiss Bankers Association (SBA) has suggested steps to ensure that untaxed money is not flowing into the banks in the country.
New Delhi | December 01, 2013 21:16 (IST)
Bharatiya Mahila Bank, the first all-women bank inaugurated last month, expects its business to touch Rs 60,000 crore in the next seven years.
New Delhi | December 01, 2013 17:43 (IST)
Life Insurance Corporation (LIC) has decided to stop selling as many as 34 policies, including Jeevan Anand, Jeevan Madhur and Jeevan Saral, to comply with new regulatory guidelines.
New Delhi | December 01, 2013 14:40 (IST)
As JM Financial awaits the Reserve Banks view on its bank licence plea, the market is abuzz with talks of billionaire Azim Premji buying an additional 5 per cent stake in the company, which has also roped in former Citibank chief Vikram Pandit as a key investor for its banking pursuit.
Mumbai | December 01, 2013 12:19 (IST)
The Reserve Bank of India (RBI) has said it may allow up to 74 per cent foreign direct investment in credit information companies.
New Delhi | November 30, 2013 19:26 (IST)
Debit card holders from Sunday will be required to punch in their PIN numbers every time they make a transaction, a move aimed at minimising frauds.
Mumbai | November 30, 2013 13:14 (IST)
The Reserve Bank of India (RBI) has issued draft guidelines permitting banks to enter the insurance broking business with a strong set of riders such as mandatory disclosure of remuneration received from insurers and having dedicated staff for the department.