The finance ministry has finalised the top-level reshuffle in public sector banks.
The six banks that have joined the major league are Syndicate Bank, Indian Overseas Bank, UCO Bank, Oriental Bank of Commerce, IDBI Bank and Allahabad Bank.
Union Finance Minister P Chidambaram said in the Lok Sabha the Reserve Bank of India and the Securities and Exchange Board of India have taken up corrective measures in the IPO scam.
Global rating agency Fitch has upgraded its support ratings for several Indian banks, including ICICI Bank, HDFC, Punjab National Bank, Canara Bank, Bank of India and IDBI among others.
Less than a month after five financial institutions sold 20 per cent in the National Stock Exchange, a consortium of five stakeholders led by State Bank of India are looking to sell an 11 per cent stake in the exchange.
At a hearing before Master David Cook at the Queen's Bench Division of the court, Mallya's legal team sought a dismissal of the interim order.
Leading US-based money changer Western Union on Wednesday announced a strategic tie-up with Indian Overseas Bank to provide money transfer service to Indian diaspora.
Chennai-headquartered Indian Overseas Bank has launched a five-year tax saving deposit scheme at an interest rate of 8.15 per cent per annum.
Capital infusion seen necessary for banks to maintain regulatory norms at the time of paying interest towards AT-1 bonds
Punjab National Bank has embarked on a five-pronged strategy for improving its financial position to become the 'best bank' in the country.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
A major reshuffle of top executives in 11 PSU banks is on the cards with the chairmen of Allahabad Bank, Corporation Bank, Syndicate Bank, Union Bank of India and Vijaya Bank slated to retire between March-July 2006.
Interest rate and tenure are not the only two factors to consider.
Public sector banking major Indian Overseas Bank on Wednesday launched an Internet-based online remittance product 'e-Cash Home', providing a fast channel for the United States-based non-resident Indians to remit money back home.
GNPAs of public sector banks are now at a staggering 11.2 per cent of their advances.
Banks in the tsunami-hit Nagapattinam district have opened 1200 new bank accounts in the last two weeks to enable the victims deposit the relief money distributed by the government.
PSBs were required to bring down government shareholding to at least 75 per cent, to comply with the amended Securities Contract (Regulations) Rules by August 2017.
The finance minister also said that the merger would not result in any retrenchment but rather improve the benefit of the employees.
The fine was imposed in the exercise of powers vested in the RBI under the provisions of Section 47 A (1) (b) of the Banking Regulation Act, 1949.
12 banks have been authorised to receive such donations to the Prime Minister's National Relief Fund.
Four banks -- Bank of Rajasthan (16 per cent), ING Vysya Bank (14.66 per cent), South Indian Bank (10 per cent) and Karnataka Bank (8.67 per cent) -- have sold their stakes aggregating 49.33 per cent in BhOB to IOB.
Four major banks including State Bank of India and ICICI Bank have been appointed as the preferred banks for extending loans to employees of NTPC for investing in the power major's maiden public offer.
The Reserve Bank of India has convened a meeting of bank chairmen and managing directors on September 16 to discuss ways to formulate the benchmark prime lending rate, which is expected to be introduced by this month-end.
Vikram Kothari took a loan of Rs 485 crore from Mumbai-based Union Bank of India and a loan of Rs 352 crore from Kolkata-based Allahabad Bank. A year later, Kothari has reportedly not paid back either the interest or the loan.
Indian Overseas Bank on Tuesday announced interim dividend of 12 per cent to its shareholders and a reduction of 0.5 per cent in its primary lending rate, taking it to 11 per cent.
Indian Overseas Bank, which is coming out with its public offering of Rs 10 crore (Rs 100 million) equity shares of Rs 10 each on September 5, would concentrate more on retail lending in a big way, a senior bank official said on Tuesday.
Indian Overseas Bank will shortly open 'representative offices' in UAE, Malaysia, China and Canada, subject to the approval of the board and the Reserve Bank of India, S C Gupta, managing director, IOB, said on Saturday.
They easily beat Tisco and Vijaya Bank in the Federation Cup basketball tournament.
The Indian Overseas Bank has hiked interest rates on non-resident external term deposits with effect from April 1, 2005.
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