Top ten banks of the world includes 4 from the USA, 4 from China and one each from the UK and Australia
The State Bank of India, the country's largest commercial bank, will open its first branch in Australia this week to further promote trade and economic cooperation between the two countries.
Police in Guiyang, capital of southwest China's Guizhou Province, arrested Song Chenglin from northeast China's Harbin city.
As part of its 'Mission 2010,' the cooperative enterprise has drawn up Rs 3,000 crore (Rs 30 billion) investment plan to expand its production capacity and grow inorganically by foraying into commercial banking and power sector.
A bill to amend Banking Regulation Act, which will enable RBI to lower the mandatory limits on statutory liquidity ratio for commercial banks, will be introduced in Parliament soon.
Foreign banking major HSBC plans to inject $180 million in India operations to support its growth in the country.
The State Bank of India has slashed interest rates on car loans by 2 percentage points. The country's largest commercial bank will offer car loans at bargain basement 7.5 per cent from February 15. It has also introduced new slabs with a clear view t
To make sure liquid schemes reflect the underlying portfolio risks, Sebi has said all debt papers with maturity of 30 days or more to be marked to market. Earlier, fund houses didn't have to do so for securities that had less than 60-day maturity.
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Net NPA of the 26 public sector banks, including State Bank of India, rose to 2.02 during the year as compared to 1.53 in the previous fiscal. SBI and its five associates recorded a net NPA of 2.04 per cent against 1.76 per cent in the comparable period.
"We are looking at a 16.50 per cent growth in advances and 15 per cent in deposits in 2004-05. For this, we will focus on retail banking, project uptech, infrastructure and international trade," SBI Chairman and Managing Director A K Purwar said.\n\n\n\n
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.
The State Bank of India is likely to float a second offering of its medium-term notes foreign currency bonds in next financial year to fund its operation of overseas offices.
Agriculture Minister Sharad Pawar has called a meeting of all state-level banks and cooperative banks to discuss the issue of reduction of interest rates on loans taken by farmers, the Lok Sabha was informed on Monday.
Withdrawals from basic savings bank deposit accounts are capped at four a month, including withdrawals via ATMs.
The Bank Economists' Conference -- the most important event in Indian banking -- gets underway in Bangalore on Friday.
ICICI Bank chief Chanda Kochhar on Wednesday said "disruption" will happen in the industry due to technology and not because of the entry of new entities in the market.
The move may release funds locked in government securities and add to liquidity. With inflation expectations lowered, this should not impact bond sentiment in the short run
In a soon to be published book, 'Of Counsel: The Challenges of the Modi-Jaitley Economy,' former chief economic advisor Arvind Subramanian says though RBI has a good reputation, it does not mean it's always right, as for years, the RBI was unable to grasp the seriousness of the loan repayment problems or identify the prolonged frauds of Nirav Modi and the likes.
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