Bankers see stable interest rates in near future but are worried about the spiralling global oil prices that is exerting pressure on domestic prices and exchange rate.
Private sector lenders have been communicating to their customers about their strong capital positions but it has not put depositors at ease.
It has registered 2,000-plus money laundering cases and about 12,000 forex violation ones in the 14 years since it was established. Yet, its probes have resulted in no more than 13 convictions from nine cases of money laundering since 2005.
Meet to review progress on lending, impact of recent rate cuts and what is being done on NPAs, among other things
Bankers pay a small price for their misdeeds, no matter how large the cost to their banks or to the economy at large, says TT Ram Mohan.
Standard Chartered cuts base rate by 0.25%
Public sector entities Life Insurance Corporation, UTI AMC, State Bank of India and Punjab National Bank are among the front-runners to become pension fund managers under the new pension system.
UTI Asset Management Company will float an initial public offer by March-end 2008 to help its sponsors State Bank of India, Life Insurance Corporation, Punjab National Bank and Bank of Baroda -- offload up to 50 per cent stake.
Banks might hold on to lending rates for the time being.
'I have faced 18 hours of darkness daily all my life.'
State Bank of India is also expected to tap the markets this year
The heartburn is over six sensitive issues
Modi, 46, who had figured in the Forbes' list of richest Indians, has been named in the cheating case on a complaint from the PNB, which alleged that the jewellery firm owner, his brother, wife and Choksi entered into a criminal conspiracy with the officials of the bank and cheated it, causing a "wrongful loss".
Breaking silence over the Rs 12,967 crore scam at Punjab National Bank, he said: "I have chosen to speak today to convey that we at the Reserve Bank of India also feel the anger, hurt and pain at the banking sector frauds and irregularities."
In the domestic market, the cost is a third but in the international market, we are finding it difficult to price it accordingly.
The total number of arrests by the CBI has risen to six -- four PNB officials, a retired employee of the bank, and an authorsied signatory of Nirav Modi's company -- after Monday's development.
A slowing economy needs stimulus packages to bring back growth on the track. It is my belief that while the government has to do its bit in areas like infrastructure, hard and soft, the private sector is yet to do enough this time around.
The government on Thursday cleared the long-awaited sale of the UTI Asset Management Company to three state-owned banks and the LIC at a price of Rs 1,237 crore.
Choksi filed the affidavit in connection with two petitions submitted by him in the HC seeking dismissal of an application filed by the ED in a special court for declaring him a fugitive economic offender.
Public sector Punjab National Bank on Friday said it had no plans to raise the rate of interest on home loans, after two leading private sector banks hiked interest rates by 0.5 per cent across the board.
ED team managed to get several bank statements from Barbados, Dubai, Hong Kong etc. which prove vital overseas link and money trail relating to Nirav Modi and his aides.
The Industrial Finance Corporation of India is likely to be merged with the Punjab National Bank or the Bank of Baroda and a final decision is expected to be taken shortly.
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
The Congress is banking on decisions like reducing electricity tariff and fuel prices, taken during current CM Charanjit Singh Channi's 111-day tenure.
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.
The government on Friday said interest rates will remain attractive to depositors as well as borrowers and the Reserve Bank of India would address the issue of shortage of lendable money in the system.
Summary of sports events and persons who made news on Tuesday
As per norms, sanction for prosecution of government employees accused of corruption has to be given within four months' stipulated time.
The revised rates will come into effect from April 16.
Vipul Chitalia was apprehended at Mumbai airport and brought to the CBI office at the Bandra-Kurla Complex in Mumbai for questioning, he said, but did not divulge any other details about Chitalia's alleged role in the PNB fraud.
The NSE Nifty settled the day 38.85 points or 0.37 per cent lower at 10,500.90 after shuttling between 10,590.55 and 10,456.65, intra-day.
NYSE-listed Diebold Inc on Wednesday announced acquisition of 50 per cent stake in its India arm Diebold HMA Pvt Ltd from HMA Data Systems Pvt Ltd.
Deposit rates for non-resident Indians may rise following Tuesday's rate hike by the US central bank Federal Reserve and due to the impact of forthcoming India Millennium Deposit redemptions worth over $7 billion, bankers said on Wednesday.
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