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Kotak in general insurance

Nov 27, 2014 at 00:52 | Source: Calcutta Telegraph News

Mumbai, Nov. 25: Kotak Mahindra Bank today entered the general insurance sector after receiving approval from the Reserve Bank of India (RBI). The wholly owned general insurance subsidiary has received a capital infusion of Rs 100 crore. Though Kota...

July-September GDP Growth Seen Around 5% Year-on-Year: Report

Nov 25, 2014 at 12:00 | Source: NDTV Profit

New Delhi: India's economic growth probably slowed to around 5 per cent in the three months to September, slipping from 5.7 per cent in the previous quarter, two government sources said, putting pressure on the Reserve Bank of India to soften...

Arcil Cuts Bad Loan Purchase Target by 30 Per Cent to Rs. 3500 Crore

Nov 24, 2014 at 00:00 | Source: NDTV Profit

Mumbai: Distressed asset purchaser Arcil has pruned its yearly bad loan buying target by 30 per cent to Rs. 3,500 crore following stricter guidelines issued by the Reserve Bank of India (RBI) recently, a top official has said. The pricing of the asse...

Finance Minister Wants RBI to Make Cost of Capital Cheaper

Nov 23, 2014 at 20:00 | Source: NDTV Profit

New Delhi: Finance Minister Arun Jaitley on Sunday pitched for an interest rate cut, expressing confidence that the Reserve Bank of India (RBI) will move in the direction of making the cost of capital reasonable to help perk up economy. "The...

Citi India Says Country Needs More, Bigger Banks

Nov 23, 2014 at 19:59 | Source: NDTV Profit

Mumbai: As the Reserve Bank of India (RBI) readies for licensing of some niche-segment banks, global banking giant Citibank's India chief, Pramit Jhaveri, said there is room for a larger number of banks in the country, but it also needs lende...

Arcil Cuts Bad Loan Purchase Target by 30 Per Cent to Rs 3500 Crore

Nov 23, 2014 at 19:59 | Source: NDTV Profit

Mumbai: Distressed asset purchaser Arcil has pruned its yearly bad loan buying target by 30 per cent to Rs 3,500 crore following stricter guidelines issued by the Reserve Bank of India (RBI) recently, a top official has said. The pricing of the asset...

RBI Asks Banks to Be Cautious on Inoperative Account Payments

Nov 23, 2014 at 12:00 | Source: NDTV Profit

New Delhi: The Reserve Bank of India has asked lenders to exercise caution before making payments to customers claiming funds lying idle in inoperative accounts. "Banks are advised to invariably verify the genuineness of the transactions and...

RBI Issues Clarification on Credit Cards

Nov 23, 2014 at 00:00 | Source: NDTV Profit

Credit cards issued by the Reserve Bank of India! Yes, that's the latest trick fraudsters are using to dupe hapless people, the central bank has found recently. "The gullible member of the public is sent a credit card which allows wi...

Kotak deal fuels bank merger hopes

Nov 22, 2014 at 08:07 | Source: Calcutta Telegraph News

Mumbai, Nov. 21: The acquisition of ING Vysya Bank by Kotak Mahindra Bank has stirred expectations of more mergers and acquisitions in the sector. The stock markets gave a thumbs-up to the deal on hopes of further consolidation in banking with compe...

Yes Bank Gains Over 3%, RBI Removes Curbs on FII Share Purchase

Nov 21, 2014 at 12:00 | Source: NDTV Profit

Yes Bank shares gained 3.1 per cent after the Reserve Bank of India (RBI) on Thursday said restrictions placed on the purchase of its shares by foreign investors withdrawn. The RBI in September said further share purchase by foreign investors will be...

RBI Reduces Repatriation Time of Export Proceeds

Nov 20, 2014 at 18:00 | Source: NDTV Profit

Mumbai: The Reserve Bank of India said on Thursday the time by which exporters can repatriate the full value of goods and services has been reduced to nine months from 12 from the date of export. The rule will be applicable to all exporters, includin...

Rupee Ends Nearly Flat at 61.94, After Falling to 9-Month Low

Nov 20, 2014 at 18:00 | Source: NDTV Profit

Mumbai: The rupee ended nearly flat on Thursday after a fall to a nine-month low had sparked mild intervention from the Reserve Bank of India (RBI), as emerging market currencies were hit by a weak reading in a private survey of China's manuf...

Rate-Sensitive Stocks Fall; Declining Rupee May Delay Rate Cuts

Nov 20, 2014 at 16:00 | Source: NDTV Profit

Shares in HDFC Bank fell 1.4 per cent, Tata Motors was down 1.6 per cent while Larsen & Toubro and Axis Bank fell over one per cent each as declining rupee lowers prospects of early rate cuts by the central bank. Reserve Bank of India&#39...

Raghuram Rajan Wants to Focus on Sustainable Growth

Nov 18, 2014 at 22:00 | Source: NDTV Profit

India will focus on sustainable economic growth and developed economies should do the same, Reserve Bank of India Governor Raghuram Rajan said on Tuesday. The RBI is under corporate and government pressure to bring down interest rates and boost&n...

Arun Jaitley favours cut in interest rates to boost economy

Nov 18, 2014 at 18:00 | Source: VC Circle

The government is expected to table GST bill in the upcoming winter session of the parliament. The finance minister Arun Jaitley expressed his concerns over the high cost of capital and said that if the Reserve Bank of India lowers the cost of capita...

Jewellery Firms Fall on Concern Over Fresh Gold Import Curbs

Nov 18, 2014 at 11:59 | Source: NDTV Profit

Shares of jewellery companies fall after the Reserve Bank of India (RBI) said it was discussing increasing restrictions on gold imports. Titan Company Ltd falls 0.95 per cent while Tribhovandas Bhimji Zaveri Ltd is down 1.67 per cent and Shree Ganesh...

RBI Rate Cut Will Give 'Good Fillip' to Economy: Arun Jaitley

Nov 17, 2014 at 20:00 | Source: NDTV Profit

Pitching for a rate cut by the Reserve Bank of India or RBI, Finance Minister Arun Jaitley today said lower cost of capital will give a "good fillip" to the economy. "I am quite clear in my mind that the cost of capital has...

Gold Imports Jump: RBI, Government in Talks to Increase Curbs

Nov 17, 2014 at 18:00 | Source: NDTV Profit

New Delhi: The Reserve Bank of India is in talks with the government for a decision on increasing curbs on gold imports, RBI Deputy Governor S.S. Mundra said on Monday. The RBI deputy also said attention needed to be paid to the surge in gold imports...

Bid to slash remittance expenses

Nov 17, 2014 at 10:17 | Source: Calcutta Telegraph News

Brisbane, Nov. 16 (PTI): Taking the concerns of India and other developing countries on board, the G20 today vowed to take “strong practical” measures to reduce the global average cost of transferring remittances to 5 per cent. India, wh...

Final rules for small banks soon

Nov 14, 2014 at 03:51 | Source: Calcutta Telegraph News

Mumbai, Nov. 13: The Reserve Bank of India (RBI) will invite applications for setting up small finance and payment banks by the end of this month after putting in place the final norms. “We visualise mobile firms, companies with large rural pr...

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