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PSU bank trio in a spot in UK

Oct 21, 2014 at 23:42 | Source: Calcutta Telegraph News

Mumbai, Oct. 20: At least three Indian public sector banks with operations in the UK may have to rejig their structure after the Bank of England’s Prudential Regulatory Authority (PRA) announced new norms last month. Banking circles fear the n...

Axis Bank cuts base rate

Oct 17, 2014 at 12:32 | Source: Calcutta Telegraph News

Mumbai, Oct. 16: Axis Bank today cut the base rate by 10 basis points, thereby lowering the minimum lending rate by 0.1 per cent to 10.15 per cent. The new rates, to be applicable from October 15, will bring cheer to both existing and new borrowers ...

Rates remain the same

Oct 01, 2014 at 12:52 | Source: Calcutta Telegraph News

Mumbai, Sept. 30: Home and car loan borrowers will have to wait a few more months for the much expected interest rate cut to take place. In the fourth bi-monthly monetary policy review this year, Reserve Bank of India (RBI) governor Raghuram Rajan t...

Court breather for Kingfisher

Sep 28, 2014 at 04:17 | Source: Calcutta Telegraph News

Calcutta, Sept. 27: Kingfisher Airlines has secured a stay from Calcutta High Court on United Bank of India’s decision to declare the airline’s chairman Vijay Mallya and its directors as wilful defaulters. Kingfisher, along with its dire...

State Bank splits stock into 10

Sep 25, 2014 at 04:47 | Source: Calcutta Telegraph News

Mumbai, Sept. 24: The State Bank of India today joined a growing list of companies by announcing a stock split. At a board meeting today, the country’s largest bank decided to sub-divide its share of a face value of Rs 10 each to 10 shares of ...

Coal: Banks with Rs 1 lakh crore exposure sitting on mine of worries

Sep 24, 2014 at 20:47 | Source: Economic Times

NEW DELHI: The mass cancellation of coal blocks by the Supreme Court has sent banks in a jittery mode as they have extended over Rs 1 lakh crore loans to power plants that were fed by these mines. Almost all banks including country's largest lender ...

We have a vision to provide cover to all Indians by 2020: Surya Kumar Roy, LIC chairman

Sep 22, 2014 at 12:51 | Source: Economic Times

Surya Kumar Roy started his career in 1981 in LIC as a direct recruit officer, and has climbed the ladder to become its chairman in June last year. In a wide-ranging interview with ET, Roy touches upon a variety of issues ranging from LIC's concern ...

Credit spread with bank pacts

Sep 19, 2014 at 04:22 | Source: Calcutta Telegraph News

Mumbai, Sept. 18: Three top Indian banks today entered into agreements with their Chinese counterparts to facilitate the financing of products and services from Beijing. ICICI Bank and the State Bank of India have joined hands with the Export-Import...

Interview - EPFO chief urges green light to buy stocks

Sep 18, 2014 at 03:45 | Source: FirstPost

NEW DELHI (Reuters) - The head of the Employees' Provident Fund Organisation (EPFO) says it has "no option" but to change its rules and put money into riskier investments by buying stocks for the first time to seek higher returns.K.K. Jalan...

Deposit rates soften

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

Mumbai, Sept. 16: Deposit rate cuts by two banks amid a liquidity slosh in the economy have raised hopes of a possible rate cut by the RBI later this month — but an eminent banker thinks otherwise. The State Bank of India today reduced deposit...

SBI Mutual aspires to be on Top 5 list

Sep 12, 2014 at 12:17 | Source: Calcutta Telegraph News

Calcutta, Sept. 11: SBI Mutual Fund is eyeing Rs 90,000 crore assets under management this fiscal. A joint venture of the State Bank of India and French asset management firm Amundi, SBI Mutual Fund will focus on equity and has planned three new fun...

The fundamental road ahead for Indian markets post budget

Sep 12, 2014 at 05:17 | Source: Economic Times

By Aviral Gupta Union Budget was announced last week and the markets are off their highs - Nifty high at 7,809 and Sensex high at 26,190, down by some 4.5 percentage points. What should an investor do in such a scenario, an investor probably struck ...

Card payment network RuPay sees boost from government banking scheme

Sep 11, 2014 at 17:52 | Source: Economic Times

MUMBAI: A government drive to expand banking services in India is giving a boost to home-grown card payment network RuPay, which expects to quadruple the number of users by March and make debit cards more acceptable in a nation where cash is still k...

SBI chief Arundhati Bhattacharya among Bloomberg Market's '50 Most Influential'

Sep 11, 2014 at 12:45 | Source: Economic Times

MUMBAI: State Bank of India's (SBI) first woman chairperson Arundhati Bhattacharya been featured in the '50 Most Influential' list of Bloomberg Markets. Bhattacharya, who is the only Indian woman to be present in the list, is featured in the 'bankers...

NRIs may find it easier to invest in India as government readying simplified norms for investment

Sep 10, 2014 at 12:11 | Source: Economic Times

NEW DELHI: The Centre is readying to make it easier for non-resident Indians to invest in the country as it eyes increased capital flows from the community, with Finance Minister Arun Jaitley tasking a high-level panel headed by finance secretary Arv...

Tighter wilful default rules

Sep 10, 2014 at 06:07 | Source: Calcutta Telegraph News

Mumbai, Sept. 9: The Reserve Bank of India today tightened norms pertaining to wilful defaulters by stating that if a non-group company failed to honour the guarantee furnished on behalf of the defaulting entity, it would also be treated as a wilful...

SBI's operations disrupted in Kashmir valley due to floods

Sep 09, 2014 at 17:55 | Source: FirstPost

Chandigarh: Banking operations in as many as 66 branches of State Bank of India in Kashmir valley were severely affected following heavy floods in Jammu and Kashmir where massive rescue operations are underway to help out trapped people.With no commu...

UB group chairman Vijay Mallya to pursue legal action against 'wilful defaulter' tag

Sep 04, 2014 at 16:02 | Source: Economic Times

BANGALORE: Declared a wilful defaulter by state-owned United Bank of India, UB group Chairman Vijay Mallya today disagreed with the action of the lender and said he would pursue legal action. "We were not given a hearing, we have not appeared before...

UBI dubs Mallya wilful defaulter

Sep 02, 2014 at 09:32 | Source: Calcutta Telegraph News

Calcutta, Sept. 1: The United Bank of India (UBI) today became the first public sector lender to declare Vijay Mallya, chairman of debt-laden Kingfisher Airlines, as a wilful defaulter. “We have declared Vijay Mallya and three other directors o...

PM Narendra Modi's Jan Dhan Yojana: Fake accounts may cloud the plan

Sep 01, 2014 at 09:32 | Source: Economic Times

KOLKATA: Prime Minister Narendra Modi's financial inclusion drive is off to a flying start, but some who enrolled under the Pradhan Mantri Jan Dhan Yojana may have accounts elsewhere and could have been persuaded to open new ones because of the attac...

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