IDBI Bank MD M K Jain appointed RBI Deputy Governor

As per the RBI Act, the central bank should have four deputy governors - two from within the ranks and one commercial banker and the fourth one an economist to head the monetary policy department.......

PNB fraud: How bank auditors failed to detect the scam

The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions Illustration: Dominic Xavier/Rediff.com Auditors are facing......

Lenders want forensic audit of Bhushan Steel

A consortium of lenders headed by Punjab National Bank has decided to conduct a forensic audit of debt-laden steel maker, Bhushan Steel, and appoint three nominee directors on the company’s......

Govt wants Rs 10,000 cr interim dividend from RBI to bridge fiscal gap

This demand comes at a time when the government is falling short of its revenue targets due to dwindling tax and low disinvestment receipts. It could account for the dividend in the upcoming Union......