The long wait for a symbol of the rupee is expected to end by March next year. A committee headed by Reserve Bank of India Deputy Governor Usha Thorat has shortlisted five symbols from 4,000 entries for a public competition to select a design for the symbol.
The intensification of global financial crisis in the second half of 2008 had forced Indian companies to put on hold their global plans. When going was good till early 2008, Indian banks -- both public and private sector -- played their part, albeit as junior partners to large international banks, in funding deals.
Power seems to have become the new dotcom," a market observer said, referring to the surge in the number of companies of all shapes and sizes wanting to get into the power business.
RBI wonders if banks are doing enough to push the service.
Jalanga or its neighbouring villages do not have a single bank branch. The nearest bank branch, that of UCO Bank, where Das has an account, is located at Bhadrak, around 20 km from the village.
The premium that borrowers would have to pay over the London Inter Bank Offered Rate (Libor) have not, however, shot up the way they did a year ago when spreads had jumped 750 basis points for some Indian companies in the aftermath of the collapse of Lehman Brothers.
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.
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