The Reserve Bank of India's move to raise ceiling on NRE rupee deposits have prompted IDBI, Union Bank of India and Yes Bank to increase interest rates on fixed deposits of non-resident Indians.\n\n
'The snakes and ladders game will continue till the consolidation process is complete simply because we don't know how bad the scene is, with some of the banks being merged,' says Tamal Bandyopadhyay.
P K Ajwani was wanted in connection with a disproportionate assets case.
12 banks have been authorised to receive such donations to the Prime Minister's National Relief Fund.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Moody's Investors Service has changed the outlook for the long-term foreign currency deposit ratings of a number of Indian banks -- currently rated Ba2 -- from 'negative' to 'stable' for India.
Union Bank of India has revised the interest rates upwards by 25-50 basis points on domestic deposits for different maturity periods with effect from December 1, 2004.
Analysts attribute this outperformance to the government's proactive economic reform measures
The possibility of the slowdown affecting more players is greater if the industry doesn't get access to easier finance in the next six to eight months.
Electing Union Bank of India chairman V Leeladhar as the new chief, the Indian Banks Association on Thursday said it has constituted a committee to draw up a long-term perspective 'Vision Plan' for the banking industry.
Union Bank of India has inked a pact with SBI Life Insurance Company Ltd to offer a life insurance cover to the former's home loan customers on a group basis.
After upgrading India's foreign currency debt rating, Moody's Investor Service on Wednesday upgraded the foreign currency deposit, debt and issuer ratings for 11 Indian banks and financial institutions.
Union Bank of India has received the Reserve Bank of India's permission for opening representative offices in Dubai and Doha.
UBI says banking sector to perform well
Second-half goals from penalty-corners gave the Punjab side a 2-0 win in their opening match in the Bombay Gold Cup hockey tournament.
Banks have as much as Rs 3,652 crore (Rs 36.52 billion) of unclaimed deposits lying with them, with the State Bank of India (SBI) alone accounting for about 15 per cent of the amount, the government informed Parliament on Friday.
Union Bank of India has tied up with HDFC Standard Life Insurance Company Ltd to provide bank depositors an insurance cover under group policy with a target to bring in 50,000 customers under risk cover by March.
Business is down to such an extent that last year these firms could not even meet RBI's capital norm of Rs 50 million for partnerships and Rs 100 million for public and private firms in this line of business.
Contrary to the current trend of declining home loan rates, Union Bank of India has hiked interest rates for fresh home loans by 0.50 per cent across all maturities of fixed and floating rate options, effective January 1, 2004.
Moody's Investors Service on Thursday downgraded subordinated debt ratings of 11 Indian banks, including SBI, ICICI Bank and HDFC Bank.
Union Bank of India on Wednesday reported a 28.83 per cent jump in net profit for the year ended March 31, 2004 at Rs 712.05 crore (Rs 7.12 billion) as compared to Rs 552.69 crore (Rs 5.53 billion) in the corresponding period of the previous year.
There are certain key points that one must know when while applying for education loans
Union Bank of India has posted a 4.49 per cent rise in net profit at Rs 150.04 crore (Rs 1.50 billion) for the third quarter ended December 31, 2003, compared to Rs 143.58 crore (Rs 1.43 billion) reported for the same period in the previous fiscal.
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
Jaitley said inflation has been under control for long and is likely to remain so on the back of good monsoon and unlikely spike in oil prices.
