Select bankers will meet RBI Deputy Governor Subir Gokarn, who is in-charge of the monetary policy department, and other central bank officials on July 12.
Government officials said the system proposed by the finance ministry, which would be akin to the mechanism followed for auction of investment rights in bonds, would result in Mint Road losing control over overseas fund raising by companies and that was RBI's major concern.
The firm is looking to raise as much as Rs 1,000 crore through short-term commercial paper.
The scaling down of the branch expansion plan is part of SBI's overall game plan to check costs.
State Bank of India (SBI) wants to extend its footprint to 11,943 unbanked villages, with a population of at least 2,000, this financial year. The country's largest lender recently submitted its plan to the Reserve Bank of India (RBI).
Winds of change are blowing across Mumbai's Mint Road.
With the Indian Premier League (IPL) story getting murkier, investigative agencies have cast their net wide to include banks. The idea is to dig out information about their financial exposure to the 10 IPL franchisees.
With the economic turnaround now on a firm wicket, the Reserve Bank of India has made restructuring of debt by companies tougher.
A number of public sector banks will have to stock up on core capital, if the Reserve Bank of India decides to ask banks to leave out hybrid instruments while computing Tier-I capital adequacy, as indicated by RBI last week.
Savings bank account holders are a happier lot. The reason: They will earn more on their deposits from April. However, this isn't good news for banks, as their margins will come under pressure
Just 6.4% of branches owned by new private sector banks are in the rural areas
Indian banks, which are increasingly getting worried due to asset-liability mismatch, have sought the government's approval to float tax-free bonds.
Questions market regulator's showcause to insurers on conceptual, legal, structural grounds.
Contrary to popular perception on interest rate movement, expected to head north following a likely central bank action on monetary tightening, banks may actually end by cutting rates in the below-prime lending rate region for at least their corporate clients. This is because of the huge pipeline of undisbursed loans the banks are sitting on and their scramble to bloat top line to reach closer to the yearly targets.
The buoyant foreign capital flows in debt instruments since the beginning of 2010 could weigh on the Reserve Bank of India's decision on whether to raise policy rates.
With the Reserve Bank of India allowing retired teachers, kirana shop owners and public call office (PCO) operators to be hired as business correspondents, banks are set to hire over 200,000 people over the next few years to push financial inclusion initiatives.
The government has also set the ball rolling on filling up the vacancies in the second rung. It has sought a dossier on general managers who could be promoted to the level of executive directors.
The Insurance Regulatory Development Authority (Irda) is likely to broaden the definition of infrastructure to include more sectors. The move, being discussed with insurance companies, is aimed at enabling insurers to get access to more papers to invest in and diversify their portfolio.
The country's largest lender will set up wind power projects in Maharashtra (9 Mw), Tamil Nadu (5 Mw) and Gujarat (1.5 Mw) - with a combined capacity of 15.5 Mw - for its captive consumption at various SBI offices and branches in these three states.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances