Microfinance companies have been facing a crisis after a crackdown by the Andhra Pradesh government last year in response to allegations they were charging high rates and using coercive recovery practices.
One of the MDs, R Sridharan, is focusing on associates and subsidiaries. Another managing director, S K Bhattacharyya, who retired in October, 2010, was the chief credit risk officer.
Bahrain has of late emerged as a regional hub for banking because of low tax rates and easy regulations. At present, 409 banks and financial institutions have operations there.
The bank follows RBI discomfort with quid pro quo pact.
As of December 2010, the bank's total outlets, including branches, stood at 5,017. Its ATM network stood at 2,516 units.
You can't ask a current borrower to finance your growth, says RBI memeber Yezdi H Malegam.
Banks have started putting the brakes on short-term corporate loans.
The multi-crore fraud at the Gurgaon branch of Citibank has prompted the banking regulator to review existing norms for the portfolio management services (PMS) of banks.
Following Anand Sinha's elevation as Reserve Bank of India (RBI) deputy governor, S Karuppasamy has been promoted an executive director (ED) to fill the vacancy. Prior to this, Karuppasamy was the regional director (Kolkata).
With mounting pressure to set aside substantial amounts each quarter to improve provision cover for bad loans, State Bank of India is using every possible way to step up recoveries from non-performing assets.
Commercial banks now prefer one-year certificate of deposit (CDs) to short-term paper (of three- to six-month duration) to raise money, as volatility in the money market in the three months through December has made them focus on stability and improving their balance sheet.
Those with plans to enter the wealth management business want to first put in place robust processes.
The second half of the financial year will be an important milestone for ICICI Bank.
Bank to argue with the Reserve Bank that new norms don't apply to floating rate schemes.
The central board of Reserve Bank of India (RBI) has opposed a government move to have control over the central bank's staff-related matters. The proposal to make staff regulations statutory and bring them under the subordinate regulation of Parliament was discussed at RBI's board meeting in Kolkata last week.
The Reserve Bank of India (RBI) has told banks not to charge more than Rs 5 for any cash deposit made at a non-home branch (other than the one where the customer has the account). Some banks charge as much as Rs 110 for such cash deposits.
Two months before the microfinance sector crisis in October, an internal committee of the Reserve Bank of India (RBI) had warned of possible problems in the sector.
Retail customers of banks, who have to pay exorbitant charges and penalties for basic services and pre-payment of loans, are in for some good news. The Reserve Bank of India (RBI) is considering a ceiling on such charges.
Stung by the public criticism of teaser rates, SBI Chairman O P Bhatt told RBI officials in a post-monetary policy meeting on Friday that only eligible persons are given these loans and the norms are not diluted while extending such loans.
Deposit rates have increased over 100 basis points (bps) in the last ten days, as banks are getting aggressive to mobilise resources to fund the growing demand for loans in the busy season. In the last ten days, at least five government banks have increased deposit rates and more are expected to follow suit.
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