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The biggest IT spend area in BFSI is going to be differentiation: Oracle

May 04, 2015 at 17:25 | Source: FirstPost

Oracle India announced its strategy for the banking, financial services and insurance (BFSI) market in India, where it is witnessing great momentum for its cloud solutions. In an interview with Firstpost, Kiran Kumar Kesavpura, industry director and ...

On the ground, Prime Minister's Jan Dhan scheme is still a painful affair for bank staff

May 04, 2015 at 12:21 | Source: FirstPost

It has become a routine and sometimes painful, said Raghav (name changed), a senior clerical staff with one of the rural branches of State Bank of India (SBI) in Palakkad district of Kerala. Raghav was referring to the customer enquiries on benefits ...

Ford Foundation funded profit-making organisations illegally, says Home Ministry official

May 04, 2015 at 08:18 | Source: FirstPost

New Delhi: US-based Ford Foundation has funded a political party and profit making organisations "illegally" which has resulted in the foreign outfit coming under the Home Ministry scanner and put on the "watch list".A senior Home...

Jaitley tries to buy peace with RBI, foreign investors | Reuters

Apr 30, 2015 at 22:20 | Source: FirstPost

NEW DELHI (Reuters) - Finance Minister Arun Jaitley sought to placate the Reserve bank of India (RBI) and foreign investors on Thursday by putting on hold a major overhaul of financial regulation and offering tax concessions on stocks and bonds. Jait...

KYC, money laundering norms violation: RBI slaps Rs 1.5 cr penalty each on 3 public banks

Apr 30, 2015 at 07:53 | Source: FirstPost

Mumbai - The Reserve Bank of India today imposed Rs 1.5 crore penalty each on three banks -- Dena Bank, Oriental Bank of Commerce and Bank of Maharashtra -- for violation ofKnow Your Customer/Anti Money Laundering norms.In aggregate three banks have ...

RBI's external committee split on April rate action| Reuters

Apr 30, 2015 at 02:45 | Source: FirstPost

MUMBAI (Reuters) - The technical advisory committee of the Reserve Bank of India (RBI) was split on whether the central bank should have cut interest rates at its April 7 policy review, with three members recommending no action, according to minutes ...

Strong India rupee stings Modi's export ambitions| Reuters

Apr 27, 2015 at 03:15 | Source: FirstPost

NEW DELHI (Reuters) - Ajit Lakha, who runs a mid-sized garment export business in the north Indian textile hub of Ludhiana, prays daily before leaving for work that the rupee will weaken and the euro recover to cut the losses he is taking on his over...

US seeks clarification from India over crackdown on Ford Foundation

Apr 25, 2015 at 11:19 | Source: FirstPost

Washington: The United States on Friday expressed concern over India's crackdown on Ford Foundation and Greenpeace, and said it is seeking "clarification" on the action."We are aware that the (Indian) Ministry of Home Affairs suspended...

US wants clarification from India over crackdown on Ford Foundation

Apr 25, 2015 at 10:50 | Source: FirstPost

Washington: The United States on Friday expressed concern over India's crackdown on Ford Foundation and Greenpeace, and said it is seeking "clarification" on the action."We are aware that the (Indian) Ministry of Home Affairs suspended...

US seeks clarification from India over crackdown on Ford Foundation, Greenpeace

Apr 25, 2015 at 08:40 | Source: FirstPost

Washington: The United States on Friday expressed concern over India's crackdown on Ford Foundation and Greenpeace, and said it is seeking "clarification" on the action."We are aware that the (Indian) Ministry of Home Affairs suspended...

Reuters poll - Asian central banks to ease further, but effects may be muted| Reuters

Apr 25, 2015 at 02:15 | Source: FirstPost

BENGALURU (Reuters) - Emerging Asian central banks are expected to cut interest rates again in the coming months, but economists polled by Reuters are doubtful the moves will significantly boost growth or inflation.The findings echo results from earl...

Banks set for cost increases on new loan provisioning rules | Reuters

Apr 25, 2015 at 01:45 | Source: FirstPost

MUMBAI (Reuters) - India's banks could see their lending-related costs rise by up to a fifth as a recent rule change means they must make bigger provisions for restructured debt, crimping their profits at a time when consumers and firms are starting ...

Ford Foundation and Modi Govts paranoia: Are emergency days back?

Apr 24, 2015 at 22:55 | Source: FirstPost

The paranoia of foreign hands that began with the offloading of Greenpeace activist Priya Pillai and blocking funds to the NGO has now reached an organisation that is almost as old as Independent India and whose imprint is indelible on many national ...

Ford Foundation and Modi Govts paranoia: Are the emergency days back?

Apr 24, 2015 at 16:35 | Source: FirstPost

The paranoia of foreign hands that began with the offloading of Greenpeace activist Priya Pillai and blocking funds to the NGO has now reached an organisation that is almost as old as Independent India and whose imprint is indelible on many national ...

Foreign banks should achieve priority lending targets by 2019 - RBI| Reuters

Apr 23, 2015 at 23:15 | Source: FirstPost

MUMBAI (Reuters) - Reserve Bank of India (RBI) said on Thursday foreign banks that have more than 20 branches should achieve lending targets to agriculture, small and medium sized firms and housing projects by March 2019.Overseas banks with fewer tha...

IMD's forecast: Poor rains could be another shocker to public sector banks

Apr 23, 2015 at 12:16 | Source: FirstPost

Indias Meteorological Departments forecast of a below normal monsoon this year should worry everyone.This include the Narendra Modi government, which has its eyes on high GDP numbers, and industries craving for more rate cuts from the Reserve Bank of...

Cutting up a debtor's body to SARFAESI: Small borrowers have always got a bad deal

Apr 22, 2015 at 15:38 | Source: FirstPost

In November last year, Raghuram Rajan, the governor of the Reserve Bank of India, made a very important speech, in which he discussed the inequality between the small and the big borrowers, when it came to recovering loans they have defaulted on.As R...

RBI working on integration between e-commerce firms and banks| Reuters

Apr 21, 2015 at 00:15 | Source: FirstPost

MUMBAI (Reuters) - India's central bank is working on improving the integration between e-commerce firms and the country's banking systems, a deputy governor of the Reserve Bank of India (RBI) said on Monday."One area which we will now be lookin...

RBI expands list of countries restricted from investing in Indian property: What you need to know

Apr 20, 2015 at 14:22 | Source: FirstPost

By Shobhit Agarwal In a recently released circular, the Reserve Bank of India (RBI) has added Hong Kong and Macau to the list of the countries whose citizens need to take prior permission of RBI before acquiring or transferring immovable property in ...

More transparency: Here's how RBI's directive on differential rate will benefit you

Apr 16, 2015 at 14:52 | Source: FirstPost

Prima facie there is nothing new in the Reserve Bank of Indias (RBI) notification on Thursday allowing banks to offer differential rate of interest on term deposits based on whether these deposits can be prematurely withdrawn or not.If indeed banks c...

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