India's banks rely on overnight borrowings to fund longer-term lending.
State Bank of India figured among the biggest gainers in the Sensex on Tuesday as media reports suggested that the Centre was considering raising the FII ceiling for the bank.
The Reserve Bank of India's directive on Wednesday came on its prior advice to banks in 2009 to make bank branches and ATMs accessible to people with disabilities and make at least one-third of the new ATMs installed as talking ATMs with Braille keypads.
The government is examining a proposal to raise the 20 per cent ceiling on foreign fund holdings in State Bank of India, the bank's chief said
Shiv Kapur and Jeev Milkha Singh finished in a tie for 38th place even as Branden Grace produced a stunning eagle on 16th and a closing birdie to grab the Commercial Bank Qatar Masters golf tournament on Saturday.
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Earlier, similar restrictions were imposed on commercial banks.
EPF is the major vehicle for the long-term savings of organised private sector employees.
The challenge for politicians is that the continuous electoral cycle favours short-termism and the loan waiver type of policy, whereas prosperity requires hard decisions where commonly held perceptions must be disrupted and over-turned, says Dhiraj Nayyar.
The origin of the challenge is the so-called "fresh start" process. Many in the MFI industry apprehend that such a law in India will encourage small unsecured borrowers to default and destroy the credit culture. So, while'Fresh start' is a welcome step as it will free up the debtors from the archaic laws of the colonial era, debtors need handholding and counselling to prevent any misuse, says Tamal Bandyopadhyay.
Commercial banks are also expected to be soft on loan repayments and restructure the loans, if not write them off.
A RBI constituted panel on financial inclusion headed by Nachiket Mor had recommended the setting up of the payments banks in order to deepen access to finance.
State Bank of India edged up as trading commenced on Tuesday on reports that the bank could get a voluminous Rs 700 crore (Rs 7 billion) from the sale of assets of some tainted brokers.
Scheduled commercial banks have registered a 21.2 per cent growth in credit offtake at Rs 7,14,622 crore (Rs 7.14 trillion) up to March seven of 2002-03 as against Rs 5,89,723 crore (Rs 5.89 trillion) in FY-02.\n\n\n\n
The Trump Organisation has a secret server registered to Trump Tower that has been covertly communicating with a Russian bank, a media report said, in the latest allegation of questionable links between Donald Trump and Russia just a week ahead of the presidential polls.
Banks have issues with their balance sheet profiles, say PSB executives.
Consumer food price inflation eased to 6.14%.
The idea of the payment banks is to provide access to banking for people, especially in rural areas.
India's economy is in much better shape to weather tighter U.S. monetary policy.
None of the four benchmarks suggested by the RBI is ideal as banks in India create loan assets from their deposits and not borrowing from the regulator or market, says Tamal Bandyopadhyay.
IndiGo Airlines signs $2.6-billion leasing and financing MoU with Industrial and Commercial Bank of China.
RBI expects the growth in the next fiscal to strengthen gradually, notwithstanding the significant headwinds.
Many fear that in practice if banks make their customers pay to hold their money, it might lead to a situation where consumers hold on to cash.
Total FDI from China in India so far is about $1.24 billion
'We are at $2.7 trillion and 2024 is not far away.' 'The country will need to grow by 9% every year for 5 years continuously and raise the aggregate investment rate to 38% of GDP to achieve the government's target of turning India into a $5 trillion economy.' 'Given the fact that we are only growing at about 5% and our investment rates are only about 30%, it may take a number of years before we can reach that targeted level.'
The Shanghai Composite Index eased 0.2 percent in subdued trading on Wednesday morning.
'The banking sector appears to be on course to recovery,' declares the RBI governor.
The Financial Stability and Development Council meeting on Tuesday started with an air of tension in the room. An official present described the participants' body language as "tetchy". However, once presentations and discussions begun, the mood considerably eased.
Banking shares are down up to 11% after the Reserve Bank of India has increased the policy repo rate by 25 basis points from 7.25% to 7.5% with immediate effect.
RBI has cited at least 10 areas where it has no control over PSBs.
The RBI, in a notification, said that it is necessary to build a repository of large credits and share with the banks for enabling them to be aware of building leverage and common exposures.
Kumaraswamy met representatives of farmers groups and progressive peasants to discuss the problems faced by them.
The Bharatiya Janata Party regime will have to make good on this election slogan to restore state-owned banks to health, says Rajiv Lall.
The B-school also witnessed new roles in the domain.
According to HSBC, India's current account deficit is expected to narrow from 1.1 per cent of GDP in 2014 to 0.6 per cent in 2015.
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India's trade deficit widened to $20.1 billion in May because of high gold imports while exports declined by over a per cent, raising concerns about economic recovery.
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