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Interview: Banks Board Bureau chief says it's time for mergers| Reuters

May 24, 2016 at 23:15 | Source: FirstPost

NEW DELHI Having bitten the bullet on bad loans, India's state-owned banks now need to merge into half a dozen well-capitalised institutions than can underwrite economic growth, the official overseeing the sector's overhaul said.Vinod Rai, the vetera...

SBI-BSNL launch Speedpay: How mobile wallets can change your life

May 24, 2016 at 08:21 | Source: FirstPost

Remember the time you stood in a long queue in banks, (Mondays and Saturdays being the worst) and spend almost half a day to get your passbook updated or funds transferred to your parents. Soon that became part of lore with the era of internet bankin...

Here's how SBI-BSNL's mobile wallet app Speedpay can change your life

May 24, 2016 at 08:21 | Source: FirstPost

Remember the time you stood in a long queue in banks, (Mondays and Saturdays being the worst) and spend almost half a day to get your passbook updated or funds transferred to your parents. Soon that became part of lore with the era of internet bankin...

In outreach to Myanmar, India offers aid in agriculture, public healthcare sectors

May 20, 2016 at 13:17 | Source: FirstPost

Yangon/New Delhi: India on Thursday offered to assist Myanmar in the area of public healthcare and provide support in boosting agricultural production.The offer was made by Commerce Minister Nirmala Sitharaman at the India Myanmar Business Conclave h...

SBI will have to spend $250 mn for proposed merger with 6 associates: Moody's

May 20, 2016 at 12:41 | Source: FirstPost

Chennai: Global credit rating agency Moody's Investors Service on Friday said the merger idea mooted by State Bank of India (SBI) of six banks with itself would cost around Rs 1,660 crore ($250 million) and will have limited impact on its credit metr...

SBI will have to spend Rs 1,600 cr for proposed merger with 6 associates: Moody's

May 20, 2016 at 11:26 | Source: FirstPost

Chennai: Global credit rating agency Moody's Investors Service on Friday said the merger idea mooted by State Bank of India (SBI) of six banks with itself would cost around Rs 1,660 crore ($250 million) and will have limited impact on its credit metr...

India eyes oil-for-drugs deal with Venezuela to recoup pharma cash| Reuters

May 19, 2016 at 00:30 | Source: FirstPost

MUMBAI/NEW DELHI Indian officials say they have proposed an oil-for-drugs barter plan with cash-strapped Venezuela to recoup millions of dollars in payments owed to some of India's largest pharmaceutical companies.Several of India's generics producer...

Consolidation govt policy; need global-sized institutions, says FM Jaitley

May 18, 2016 at 17:19 | Source: FirstPost

New Delhi: The proposal of SBI to merge its five associate banks with itself and acquire Bharatiya Mahila Bank is in line with the government's policy of consolidation as the country needs global-sized institutions, Finance Minister Arun Jaitley said...

SBI merger with associates: Why there is a danger in letting the elephant grow bigger

May 18, 2016 at 11:21 | Source: FirstPost

The governments plan to merge State Bank of India (SBI)s five associates and the Bhartiya Mahila Bank (BMB) with SBI has all the signs of a forced merger.Till recently, SBI chairman, Arundhati Bhattacharya wasnt too sure about the merger plan as a pr...

Bankruptcy Code breaks Modis Parliament jinx; but failure to crack GST code spoils Budget party

May 12, 2016 at 12:26 | Source: FirstPost

After two successive washed-out Parliament sessions (Monsoon and Winter), the passage of Insolvency and Bankruptcy Code, 2016 in the budget session becomes the saving grace for the Narendra Modi-government to avert a wash-out hat trick, even as the b...

India to push for Mallya's extradition: Why this is tougher for Modi govt

May 12, 2016 at 07:35 | Source: FirstPost

The decision of the UK government to turn down Indias request to deport liquor-baron Vijay Mallya is a big blow to the Narendra-Modi government and kills any remaining hope for 17 banks, including State Bank of India, to get back Rs 9,000 crore Mally...

India to push for Mallya's extradition: Why the task is tougher for Modi govt

May 11, 2016 at 21:40 | Source: FirstPost

The decision of the UK government to turn down Indias request to deport liquor-baron Vijay Mallya is a big blow to the Narendra-Modi government and kills any remaining hope for 17 banks, including State Bank of India, to get back Rs 9,000 crore Mally...

Post UK refusal, India to push for Mallya's extradition: Why the task is tougher for Modi govt

May 11, 2016 at 19:49 | Source: FirstPost

The decision of the UK government to turn down Indias request to deport liquor-baron Vijay Mallya is a big blow to the Narendra-Modi government and kills any remaining hope for 17 banks, including State Bank of India, to get back Rs 9,000 crore Mally...

UK's refusal to deport Vijay Mallya is a big setback for the Modi government

May 11, 2016 at 16:13 | Source: FirstPost

The decision of the UK government to turn down Indias request to deport liquor-baron Vijay Mallya is a big blow to the Narendra-Modi government and kills any remaining hope for 17 banks, including State Bank of India, to get back Rs 9,000 crore Mally...

Why UK's refusal to deport Vijay Mallya is egg on the face of Modi govt

May 11, 2016 at 14:23 | Source: FirstPost

The decision of the UK government to turn down Indias request to deport liquor-baron Vijay Mallya is a big blow to the Narendra-Modi government and kills any remaining hope for 17 banks, including State Bank of India, to get back Rs 9,000 crore Mally...

Failure to deport Mallya means banks can forget Rs 9,000 cr now

May 11, 2016 at 12:00 | Source: FirstPost

The decision of the UK government to turn down Indias request to deport liquor-baron Vijay Mallya is a big blow to the Narendra-Modi government and kills any remaining hope for 17 banks, including State Bank of India, to get back Rs 9,000 crore Mally...

Failure to deport Vijay Mallya means banks can forget Rs 9,000 cr now

May 11, 2016 at 11:26 | Source: FirstPost

The decision of the UK-government to turn down Indias request to deport liquor-baron Vijay Mallya is a big blow to the Narendra-Modi government and kills any remaining hope for 17 banks, including State Bank of India, to get back Rs 9,000 crore Mally...

ICICI Prudential Life, HDFC Standard Life plan to raise over $1 billion in two IPOs| Reuters

May 07, 2016 at 02:30 | Source: FirstPost

SINGAPORE/MUMBAI Two of India's leading private-sector insurers are looking to raise over $1 billion this financial year in the sector's first initial public offerings (IPOs), as insurance companies rush to take advantage of a change in ownership rul...

Gold imports plunge 10 percent in fiscal 2016

May 06, 2016 at 16:56 | Source: FirstPost

New Delhi: Gold imports fell by close to 10 percent to 950 tonnes in the 2015-16 fiscal on poor domestic sales due to jewellers' strike and lack of global price parity, a top official of state-run MMTC said.The world's largest gold consumer had purch...

Government eyes cleanup of bad debt mountain as wary state banks hesitate

May 05, 2016 at 13:30 | Source: FirstPost

Governmentis considering setting up an independent panel to help state-owned banks negotiate settlements with big businesses on bad loans.India's $121 billion troubled debt pile, over $100 billion of which is on the books of state-owned banks, has co...

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