BANKING

Why India can`t ignore virtual currency Bitcoins for long

Imagine not paying transaction fee for an online purchase. Or transfering money across thousands of kilometers in no time, and for no charge. A currency free of government. Virtual currencies offer all this – and much more. In America and Eu

Banking facility for minors

To boost financial inclusion, the Reserve Bank of India (RBI) has allowed minors over ten years of age to independently open their savings bank accounts and run it without tagging themselves in joint accounts with a parent or guardian.

RBI puts on hold biometric authorisation for ATMs and credit cards

With banks facing problems in making credit card swipe machines and ATMs capable of biometric authentication, the Reserve Bank of India (RBI) has, for the time, suspended implementation of the mandate on all future banking transaction machines.

Four-fold rise in bad loans

A whopping Rs 70,300 crore has accumulated on the account of top 406 bad bank loans even as there has been a four-fold rise in such loans in the past four years. With a bad loan of Rs 2,673 crore, the now grounded Kingfisher Airlines tops

State-run banks to sell off bad loans worth Rs 2,000 crore

With a view to relieve themselves from the mounting pressure of the bad loan pile, a number of public sector banks (PSBs) is hoping to sell about Rs 2,000 crore of these loans to asset reconstruction companies. According to media reports,

In run up to merger, SBI to sync HR practices with associate banks

The biggest victim of a corporate merger and/or acquisition is the human resource pool which shrinks owing to change in HR policies and intensified competition. However, the country’s largest lender, State Bank of India (SBI), which is soon

RBI, FinMin spar over NPA trouble in public sector banks

The sharp rise in non-performing assets has not just meant trouble for banks, especially state-run ones, but has also deepened the cracks between the finance ministry and the Reserve Bank of India (RBI) which have got into a verbal battle over the

"We don`t go to the bank, it comes to us"

Her children off to school, husband at worksite and household chores completed by noon, Seema Yadav, 24, finally finds time for a very important task that needs to be addressed the same day. She needs to go to the bank. Having received Rs

Bank defaulters should not be allowed to contest elections, AIBEA writes to EC

As public sector banks continue to be burdened by ballooning non-performing assets (NPAs), one of the bank unions has aggressively gone against bank defaulters who are likely to contest general elections. The Chennai-headquartered All Indi

2 RBI deputy guv posts empty, govt in search mode

“Deputy governors never retire,” Dr KC Chakrabarty had quipped when Governance Now asked him about his post-retirement plans in an interview this February. But it looks like he had already made his plans. Chakrabarty, arguably

Private, foreign banks have better DNA to innovate: KC Chakrabarty

In a candid interview with Srishti Pandey, Dr K C Chakrabarty tells why the financial inclusion passion continues to remain missing in some entities, how direct benefit transfer (DBT) has failed, and why public sector banks will h

In UP village, bank creates buzz for bees, rural entrepreneurship

Prem Singh Arya is a very busy man – as busy as the bees he keeps! On a regular working day, Arya not only has to manage his own farms and bees but also help around 1,000 others engaged in beekeeping in and around Taharpur village of Amroha

Saradha, Sahara lessons: we need to trust regulators a little more

Sahara chief Subrata Roy’s arrest, and subsequent judicial custody, ordered by supreme court came as a dramatic turn of events this week. Dramatic because this was one of those rare occasions when a corporate honcho, of the likes of Roy, is

NPAs of 40 listed banks cross Rs 2.4 lakh crore

In the financial quarter ending December 2013, the non-performing assets (NPAs) of 40 listed banks, according to a new data, have plummeted to a new low of Rs. 2.4 lakh crore, worsening banks’ financial condition. “This jump of 35.2 pe

Looking at NPAs of women-led PSU banks

There is a common thread that connects four public sector banks – the Kolkata-based United Bank of India (UBI) and Allahabad Bank and the Mumbai-headquartered State Bank of India (SBI) and Bank of India (BoI). All these banks are led by wome

Andhra Bank organises blood donation camp for CSR

Amid growing demand for corporate social responsibility initiatives to be undertaken by corporate houses,

Is banking system ignoring where credit is due?

When Mohammed Pervez, 25, wanted a small loan to buy a cartwheel and start his own small business of selling fruits, none of the 14 public-sector bank (PSB) branches in his town, Deoband in Uttar Pradesh, was eager to lend. After battling cumberso

Mahila Bank hopes to score with higher interest on savings accounts

Women in India account for a paltry 7.3 percent of total credit in the financial system. And, only 26 percent of women have accounts with financial institutions. If these figures have any use, it is to show how women have been neglected by policym

PM, Sonia to inaugurate Mahila bank in Mumbai

A new bank exclusive for women and headed by Usha Ananthasubramanian, is all set to be inaugurated by the prime minister Manmohan Singh and UPA chairperson Sonia Gandhi on November 19, the birth anniversary of former PM Indira Gandhi. With the mod

BoI to host BANCON 2013

Bank of India has announced the third flagship conference Bankers Conference of The Indian Banks Association (BANCON) 2013, to be held in Mumbai on November 15 and 16, 2013. The theme conference this year is “Bank of the futur



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