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Sensex crashes 1,624 points: The biggest ever market fall explained in seven graphics

Aug 24, 2015 at 18:18 | Source: FirstPost

By Rajesh Pandathil and Kishor KadamThe much-feared China is happening and Indian markets felt the pinch today.The Sensex crashed 1,624 points to end at 25,741.56 and the Nifty 490.95 points to 7,809. The rupee, meanwhile, tumbled 1.2 percent from th...

Tough challenges await Chandrashekhar Ghosh's Bandhan in its commercial bank avtaar

Aug 24, 2015 at 07:46 | Source: FirstPost

On Sunday, Kolkata-based microfinance institution (MFI), Bandhan Financial Services formally converted itself into a full service commercial bank, thus becoming the latest private sector bank in the country. Bandhan is one of the two entities, which ...

Louis Berger case: ED seizes docs of assets worth Rs 100 cr from ex-Goa CM house, offices

Aug 22, 2015 at 08:40 | Source: FirstPost

Panaji: The Enforcement Directorate, probing the charge of money laundering in the Louis Berger bribery case, has seized documents of properties worth over Rs 100 crore from the residence and offices of former Goa chief minister Digambar Kamat and hi...

Payments bank licence to leverage telecom, retail business: RIL

Aug 21, 2015 at 20:54 | Source: FirstPost

New Delhi: Reliance Industries today said the payments bank licence will "leverage" its telecom business Reliance Jio's pan-India network and retail arm's model, even as its tie-up with SBI will help create the most extensive distribution n...

Difficult to give fresh loans to NPA accounts, says SBI

Aug 20, 2015 at 20:59 | Source: FirstPost

Mumbai: Country's largest lender State Bank of India today expressed concerns about giving fresh loans to accounts which have become non performing assets(NPA) and said the banks do not have any incentive by doing so."You can say the regulator h...

Payments banks: Not corporate biggies but India Post will emerge the dark horse in race for market

Aug 20, 2015 at 16:24 | Source: FirstPost

The Reserve Bank of India (RBI) has chosen just 11 out of 41 applicants to set up payments banks in the country. Payments banks are institutions that will offer most of the banking services except loans and credit card products to retail customers. C...

Payments banks: With India Post getting RBI nod, Indias biggest bank for poor is in the making

Aug 20, 2015 at 11:43 | Source: FirstPost

The Reserve Bank of India (RBI) has chosen just 11 out of 41 applicants to set up payments banks in the country. Payments banks are institutions that will offer most of the banking services except loans and credit card products to retail customers. C...

RBI paves way for banking revolution: 11 entities get nod for payments banks

Aug 20, 2015 at 10:35 | Source: FirstPost

Mumbai: Companies run by billionaires Mukesh Ambani and Kumar Mangalam Birla as well as telcos Bharti Airtel and Vodafone are among the 11 entities that yesterday got the Reserve Bank's nod to set up non-lending payments banks as part of the financia...

RBI paves way for banking revolution: RIL, Airtel among 11 to get RBI nod for payments banks

Aug 20, 2015 at 08:44 | Source: FirstPost

Mumbai: Companies run by billionaires Mukesh Ambani and Kumar Mangalam Birla as well as telcos Bharti Airtel and Vodafone are among the 11 entities that yesterday got the Reserve Bank's nod to set up non-lending payments banks as part of the financia...

Banking revolution coming: RIL, Airtel among 11 to get RBI nod for payments banks

Aug 20, 2015 at 06:42 | Source: FirstPost

Mumbai: Companies run by billionaires Mukesh Ambani and Kumar Mangalam Birla as well as telcos Bharti Airtel and Vodafone are among the 11 entities that today got the Reserve Bank's nod to set up non-lending payments banks as part of the financial in...

India picks phone carriers among 11 firms awarded niche bank permits| Reuters

Aug 19, 2015 at 23:15 | Source: FirstPost

MUMBAI Leading mobile phone network operators Bharti Airtel Ltd and Vodafone India are among the 11 companies selected by the Reserve Bank of India (RBI) to help set up "payments banks", aimed at granting millions of citizens access to basi...

SBI's mobile wallet Buddy: All you need to know

Aug 19, 2015 at 14:10 | Source: FirstPost

The State Bank of India on 18 August launched Buddy - a mobile wallet in 13 languages. Simply put, a mobile wallet is a semi-closed prepaid wallet which you can use to transfer money to other wallet users and bank accounts.Arundhati Bhattacharya, cha...

State Bank of India launches mobile wallet app 'SBI Buddy'

Aug 18, 2015 at 16:18 | Source: FirstPost

Mumbai: Country's largest lender State Bank of India on Tuesday launched a mobile wallet app, SBI Buddy, in collaboration with Accenture and Mastercard.The service will be available to existing as well as non-SBI customers.The app was launched by Fin...

India taps private sector for two state bank bosses in industry shake-up | Reuters

Aug 14, 2015 at 23:15 | Source: FirstPost

NEW DELHI India has brought in private sector executives to run two of its largest state-owned banks, the first such appointments in a broad reform plan to shake up the country's dominant but often inefficient government-backed lenders.Earlier this y...

SBI April-June earnings: Fresh slippages will continue as economy continues to struggle

Aug 12, 2015 at 09:00 | Source: FirstPost

The April-June quarter numbers of State Bank of India (SBI) came broadly in line with market expectations, except on the quarter-on-quarter deterioration witnessed in the fresh slippage numbers.The bank has shown its gross non-performing assets (NPAs...

India's stock markets mark lowest close in nearly two weeks| Reuters

Aug 12, 2015 at 02:30 | Source: FirstPost

MUMBAI India's stock markets fell about 1 percent on Tuesday, marking their lowest close in nearly two weeks, led by declines in lenders after State Bank of India's quarterly results disappointed investors.The Bank Nifty ended 1.37 percent lower. ...

SBI sees bad loan pressures easing| Reuters

Aug 12, 2015 at 00:30 | Source: FirstPost

MUMBAI State Bank of India (SBI) expects pressure from struggling borrowers to ease as the economy recovers after the strain on India's smaller firms pushed its bad debts higher in the three months to June.A slightly wider bad loan ratio in the quart...

SBI April-June earnings: Fresh slippages will continue as long as economy struggles

Aug 11, 2015 at 15:05 | Source: FirstPost

The April-June quarter numbers of State Bank of India (SBI) came broadly in line with market expectations, except on the quarter-on-quarter deterioration witnessed in the fresh slippage numbers.The bank has shown its gross non-performing assets (NPAs...

RBI monetary policy: Interest rates wont come down unless banks' bad loans are controlled

Aug 05, 2015 at 08:37 | Source: FirstPost

The third Bi-monthly Monetary Policy Statement for 2015 was released by the Reserve Bank of India (RBI) today (August 4, 2015). As was widely expected, the RBI led by Governor Raghuram Rajan did not cut the repo rate and let it stay at 7.25%. Repo ra...

RBI monetary policy: Interest rates wont come down unless bad loans are controlled

Aug 04, 2015 at 13:47 | Source: FirstPost

The third Bi-monthly Monetary Policy Statement for 2015 was released by the Reserve Bank of India (RBI) today (August 4, 2015). As was widely expected, the RBI led by Governor Raghuram Rajan did not cut the repo rate and let it stay at 7.25%. Repo ra...

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