Along with Subir Gokarn's appointment as the fourth deputy governor, the Reserve Bank of India on Wednesday reshuffled some of the key portfolios of its deputy governors and executive directors.
This is because of a government order that RBI has no power to update pension of its employees. This has been a bone of contention between the government and the central bank for the past one year.
The Reserve Bank of India's proposed guidelines on bank executives' compensation will be extended beyond just CEOs to all senior executives in private and foreign banks, especially those involved in treasury functions.
Typically, those from the IIMs, Xavier Labour Relations Institute and Indian School of Business joined at Scale III, but graduates from other B-schools were recruited in scale II.
Low cost of funds and low credit growth have meant unprecedented levels of capital adequacy ratios (CARs) for banks.
The government is set to increase its stake in Bank of Baroda (BoB), Oriental Bank of Commerce (OBC) and Dena Bank.
The move is aimed at improving margins.
In addition, bankers also told Business Standard that they did not expect the central bank to hike policy rates or the cash reserve ratio in the third quarter review scheduled for October 27 as inflation was not rising fast though inflationary expectations were there.
Punjab & Sind Bank plans to offer 5% each to top institutions
The only thing that's clear is the October 15 deadline for the end of free third-party ATM use.
The government and financial sector regulators have prevailed on Insurance Australia Group (IAG) to route its investment in a general insurance venture with State Bank of India through Singapore, instead of the original proposal to bring the money through a Mauritian subsidiary.
One indication of this was the fact that many large bond buyers stayed away from the Rs 12,000 crore auction conducted on August 7.
Income from distribution of third-party products such as insurance policies and mutual fund schemes is already under pressure because of the unfavourable economic climate.
Banks' net interest margins under pressure due to moderate income from advances.
Banks have come to realise that recession or no recession, education loans are a low-risk business.
Balachandran M, Director of the Institute of Banking Personnel Selection, has little time to catch his breath. He and his team have been supervising recruitment of nearly 100 public sector bank employees every day.
The clauses on corporate debt restructuring (CDR) are being reworked in view of the huge foreign exchange exposure of several companies, which have already opted for restructuring debt or are on their way to seeking approval for one.
Canara Bank has put on hold its plan to sell non-performing assets with realisation value of around Rs 250 crore (Rs 2.5 billion) after lukewarm response from asset reconstruction companies (ARCs).
As part of wage settlement, new recruits will be asked to shift to the New Pension Scheme.
ICICI Bank, the country's largest private sector bank, has scaled down its overseas operations, especially in the United States and Sri Lanka. It has also recalled some employees from its international offices now that the businesses of fund-raising and merger and acquisitions have shrunk.
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