Days after the PM announced a financial inclusion package, a look at how banks and insurance firms are going about it and what lies ahead.
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
SBI Caps readies plan, identifies 4 assets; bankers say there are enough bidders.
State Bank of India's push among fellow bankers to appoint an external agency to run debt-heavy Bhushan Steel might not be smooth sailing.
The finance ministry has ruled out the proposal for the appointment of a chief operating officer (COO) of the rank of deputy governor in the Reserve Bank of India (RBI), as the government feels no interim arrangements should be made for such high-profile appointments.
Bankers said fear of loan losses impairing their careers could make officers wary of sanctioning new loan proposals on their own.
Move comes after the country's monetary authority tightened credit norms
Letter to corporate affairs ministry cites slowing economy, capital challenges.
Leeway on CRR and SLR was a long-standing demand from banks, which the RBI did not agree to till recently.
The Union finance ministry is planning to make rules regarding wilful defaulters more stringent, so that criminal charges can be pressed against such entities.
Fresh hiring might slow as banks likely to focus on improving efficiencies.
Focus to be on unbanked areas; initial capital is set at Rs 100 crore; India Post can apply.
Vijay Mallya, the embattled chairman of the UB Group, is not likely to be immediately named a wilful defaulter by the United Bank of India.
Writes to shareholders highlighting its performance, governance practices.
According to RBI sources, some banks had extended credit to existing borrowers to repay their debt, known as evergreening of loans in banking parlance.
ICICI Bank, HDFC Bank and Axis Bank reported healthy loan growth and asset quality.
The committee's suggestion that existing commercial banks be allowed to hold payment banks as subsidiaries is also seen as unviable by RBI and the finance ministry.
IBA has commissioned a study to evaluate the pros and cons of keeping banks shut on Saturdays.
With the advent of new banks, IT firms will get boostto their businesses.
Most players will need to burn the midnight oil to meet the deadline for creating a bank as well as specific norms set by RBI.
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