Non-performing assets (NPA) have become a major concern for the banks and the gross NPAs of the public sector banks stood at Rs 2,60,531 crore, as on December 2014. Highlighting the issue of mounting bad loans, RBI deputy governor S S Mundra on Mo
What can be seen as a major step in making ‘financial inclusion’ a reality, finance minister Arun Jaitley announced in budget of 2015 the creation of MUDRA Bank to refinance microfinance institutions under a Prime Ministerial scheme.
The nation can heave a sigh of relief as public sector banks employees` have decided to withdraw the four day scheduled from February 25. This follows an agreement with the Indian Banks Association (IBA) to increase wages by 15%, on Monday.
India’s fourth largest private bank will come into being with the approval of Competition Commission of India (CCI) for the merger deal between Kotak Mahindra Bank and ING Vysya Bank. In November 2014, Kotak Mahindra had annou
Even as banking sectors extends its reach in India, especially with the launch of PM’s jan dhan yojana (PMJDY) , number of complaints received by banking ombudsmen against the commercial banks ihas witnessed an increase of 8.55 per cent.
Finance minister in the budget speech talked about the need of infusing more capital in the public sector banks (PSBs) to keep them in line with Basel-III norms. Following which finance ministry had asked the all public sector banks to submit capi
India is looking to expand banking sector in a big way. A traditionally conservative Reserve Bank of India is taking big steps to bring in niche banking as country travels on growth path. Applications for licensing of small finance
As India gets into budget season and tax deduction pains, the employees of public sector banks have threatened to go on a four-day strike beginning February 25. As we had said earlier, long bank strikes do harm the financial sector and has cascadi
In its sixth bi-monthly monetary policy review RBI on February 3 reduced the statutory liquidity ratio (SLR) of scheduled commercial banks by 50 basis points from 22 per cent to 21.5 per cent with effect from the fortnight beginning February 7.
The Reserve Bank of India is pushing for greater transparency in financial world and has asked all banks to display charges and loan interest rates on their respective websites to facilitate informed decisions being taken by the customer.
Governments usually do not compete for record books but if a record is created it can be celebrated. The Narendra Modi government, which is yet to complete one year in office, has earned Guinness Book of World Records entry for opening the maximum
Ringing the bell of caution for the banking sector, the Reserve Bank of India in its financial stability report says that there has been lackluster credit growth and overall risks to the banking sector remain unchanged. The report c
As anticipated by the economists and market leaders, Reserve Bank of India (RBI) in its fourth bimonthly monetary policy statement left untouched all major rates affecting the economy. In its policy statement released today (September 30)
Even as the government has asked IDBI Bank and United Bank of India (UBI) to prepare a consolidation plan, the Chennai-headquartered All-India Bank Employees Association (AIBEA) has questioned the objective. On Friday (August 1), AIEBA gen
The idea of setting up a unified financial sector regulatory body by a high level committee may not find a keen supporter in Reserve Bank of India governor Raghuram Rajan who has called it “somewhat schizophrenic”. In addition, he has
The country could soon get its first payments bank offering services including deposits and payments but excluding credit services, Reserve Bank of India deputy governor HR Khan has said. The idea of rolling out payments banks, to further the goal
The Reserve Bank of India (RBI) has asked urban co-operative banks (UCBs) to refrain from lending to public sector undertakings (PSUs) as it "dilutes the cooperative character of UCBs." The banking regulator has instead directed
With a view to make banking all inclusive, the Reserve Bank of India (RBI) has made it mandatory for banks to put in place talking ATMs with Braille keypads for the benefit of people with special abilities. "It has come to our notice
After several rounds of negotiations between the RBI and the banks and technology providers on establishing Aadhaar-linked payments mechanism failed to yield results, the banking regulator has deferred the plan for the time being. Accordin
Known for showing his unflinching support to prime minister designate Narendra Modi, noted economist Jagdish Bhagwati has suggested retaining Raghuram Rajan as the governor of Reserve Bank of India amid speculation that he could be asked to leave
