BANKING

More pharma cos and chemists on probe list of CCI

Having come across certain cases of alleged unfair practices, the Competition Commission of India (CCI) is in the process of probing pharmaceutical companies. According to a report in Mint, the competition regulator’s chairman Ashok

SBI likely to get first woman chief

As the country’s largest bank State Bank of India prepares to bid farewell to its present chairman Pratip Chaudhuri on Monday, it is looking at the prospect of being headed by its first woman chairperson Arundhati Bhattacharya, currently the

Financial sector to come under CCI purview

In light of the various malpractices that have recently emerged in the banking and insurance segments, the Competition Commission of India (CCI) has undertaken a study of the functioning of the country’s expanding financial sector.

SBI to curb trade union activity

State Bank of India has cancelled the check-off facility to its officers’ federation making it the bank’s biggest measure to come down hard on trade union activities. According to a report in Mint, the country’s largest b

Now, Sebi to probe FTIL’s financial statements

Having watched the payments crisis of the National Spot Exchange Limited (NSEL) unfold from the sidelines, the Securities and Exchange Bureau of India (Sebi) has now jumped in to probe if there were any alleged irregularities in the financial stat

Sebi to bring in norms for disclosing CEO pay

Providing the necessary fillip to corporate governance norms in the country, the Securities and Exchange Bureau of India (Sebi) is set to roll out a series of checks and balances to monitor the fat paychecks of CEOs of companies listed on the stoc

RBI goes tough on online forex trading

Those undertaking forex trading transactions using debit/credit cards, beware! The Reserve Bank of India has directed banks to close accounts of customers undertaking such transactions that have been banned.  In a notification issued

Mahila Bank begins its recruitment drive

As the first public sector bank exclusively for women is set to begin operations from November, it has started with its first phase of the hiring process. In its first advertisement for the post, the Bharatiya Mahila Bank (BMB) has posted 115 vaca

Restrict banks from bidding for PSU bulk deposits: ministry to RBI

The finance ministry has directed the Reserve Bank of India (RBI) to take measures to curb the participation of banks in the bidding of bulk deposits by cash-rich public sector undertakings. The move, a first of its kind, is aimed at keeping the c

SEBI flexes registration norms to check fund outflow

Hoping to calm the frayed nerves of foreign investors, markets watchdog Securities and Exchange Board of India (Sebi) has decided to relax registration norms and do away with exhaustive paperwork. This move, however, will be applicable only for lo

Sebi orders Onelife to cough up Rs 35 cr for IPO diversion

In an unprecedented move, market watchdog Securities and Exchange Bureau of India (Sebi) has directed financial services firm Onelife Capital Advisors Limited and its managing director to refund over Rs 35 crore raised through an initial public of

Indian banking sector strong, can manage risks: IMF-World Bank

At a time when Messrs Manmohan Singh, P Chidambaram and the outgoing and incumbent RBI governors are facing flak on all quarters for the tumbling value of the rupee, and the overall economic and fiscal mess, there’s a bit of good news for th

Hope Chidambaram will one day say thank god, RBI exists: full text of Subbarao`s speech

With the salvo fired at the finance minister, hitting the Manmohan Singh government where it hurts most, outgoing Reserve Bank of India governor Duvvuri Subbarao has opened up the debate on the state of the economy. While prime minister Manmoh

RBI penalises 6 more PSU banks for flouting banking norms

Continuing with its action against banks found ostensibly violating banking norms, the Reserve Bank of India on Friday penalised six public sector banks (PSBs) Rs 6.5 crore. With this, 31 banks have till date been penalised since the portal, cobra

Credit demand rises 16%, fails to excite bankers

Rising interest rates, declining loan recoveries and a sluggish economy have failed to affect the demand for loans as bank credit saw a 16.6-percent rise on a year-on-year basis, according to the Reserve Bank of India. The outstanding loan

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