Only if there are more asset reconstruction companies will banks be more comfortable with the valuations
ICICI Bank has enhanced its international presence by opening two new branches, one in UK and another in Canada, as part of plans to increase share of its global business.
The Federal Reserve must now ensure that higher inflation doesn't derail the US recovery.
The finance ministry is believed to have finalised the merger of Kolkata-based Industrial Investment Bank of India with Industrial Development Bank of India
Finance ministry may peg farm credit target for commercial banks, regional rural banks and cooperatives close to Rs 1,50,000 crore (Rs 1500 billion) this fiscal after the resounding success in 2004-05.\n\n
India's largest commercial bank State Bank of India on Thursday reported a 12 per cent growth in net profit at Rs 1,215 crore.
The finance ministry on Thursday denied a newspaper report that it has increased the foreign fund ceiling in State Bank of India, the country's biggest commercial bank.
The notes, kept in about a dozen currency chests of commercial banks in Mumbai, are now being dried and counted before being shredded by the Reserve Bank of India.
'Flush with funds, lending became a cash management exercise.' 'Road projects, power generation plants, airports etc were financed left and right with apparently no regard for the projects' ability to repay,' explains S Muralidharan, former managing director, BNP Paribas.
The chief of India's largest commercial bank, State Bank of India, said on Tuesday that the soft bias in domestic interest rates was likely to continue due to falling global interest rates.
The board of directors of NBFCs have been advised to formulate policies and procedures to operationalise and ensure the observance of these guidelines, which come into immediate effect, in respect of all new customers, the bank said.
China's e-commerce giant Alibaba, which completed the world's largest initial public offering ever this month, has won approval from authorities in Beijing to establish a private bank as it diversify into financial services.
Regional Rural Banks are to be merged by August end while consolidation process of commercial banks will be decided in due course of time, Finance Minister P Chidambaram said on Friday.
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