The bank board had decided to launch an enquiry to be headed by an "independent and credible person", to examine and enquire into an anonymous whistle blower complaint alleging that the bank MD & CEO had not adhered to code of conduct
BPCL and ONGC raised $4.9 billion in 2016-17 against $1.65 billion raised by Reliance
Finance Minister P Chidambaram on Thursday expressed hope that some new bank licences would be issued before March next year.
There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
One of every four people in the 27-37-year age group, the most prolific in using digital banking apps, reported a fraud in the past year
In a rare appearance since shifting base to the United Kingdom, troubled Indian businessman Vijay Mallya was seen having a good time in London as he watched the Indian Premier League final between Royal Challengers Bangalore and Sunrisers Hyderabad on Sunday. In a video gone viral, Mallya senior is seen having a gala time with his son Siddharth along with a few others. The video was posted by Siddharth as he watched the IPL final with his father. Siddharth also mentions about Force India's third place finish in the Monaco Grand Prix, which also took place on Sunday. "Here we are, watching together from London. It doesn't get better than Sergio Perez getting a podium (for Mallya co-owned Force India). Hopefully we can add to what has been an epic day of sports so far," says Mallya junior in the video as he catches the IPL action with his father on the big screen.
Five photos of western style toilets were presented to convince the court that acceptable standards would be extended to Mallya.
'In their over-enthusiasm to clean up the system, both the banks and the regulator should not forget that the key to the insolvency law is revival of companies -- recovery of bank dues is an offshoot of that,' points out Tamal Bandyopadhyay.
Did the transaction fail? Did you receive your money on time?
The administration was triggered by Force India's Mexican driver Sergio Perez, supported by engine provider Mercedes and team sponsor BWT who were also owed money by a team struggling financially.
The market, which has been hit by global meltdown, would stabilise within a period of 16-18 months and by July-August 2010 the volume should rise, IMBS chairman and executive director of Indian Bank A Subramanian told reporters. Despite the global meltdown and southward movement of share broking business across the country, he was hopeful that with an improving market IMBS would surpass Rs 5,000 crore (Rs 50 billion) business in the next two years.
A key hindrance to a faster turnaround of these banks is the slow progress in the resolution of legacy bad loans and the need to build up provisions against those assets.
Surjewala alleged that Mehta and his family were allowed to leave India even when there were complaints pending against him with the CBI.
The decisions come within 24 hours of the home loan package offered by public sector banks. Chennai-based Indian Bank reduced interest rates of domestic term deposits of Rs 1-5 crore (Rs 10-50 million) by 150-25 basis points across various maturities.
In a message to public sector banks (PSBs) that only performers will survive, the government, in an unprecedented move, has decided to allocate capital to only nine PSBs.
The public-sector lenders were yet to get a formal proposal on sale from HSBC.
RBI has already advised banks to stop selling gold coins.
While seeking responses of various governments, a bench of Justices K S Radhakrishnan and Deepak Misra said it is 'very serious issue.'
The bank chiefs have also cancelled the customary media conference after the bi-annual policies.
Cases of students defaulting on loan payments prompted Indian Bankers Association to review the educational loan scheme. We explore what this means for students.
For banks, the package will limit the burden of provisioning for stressed loans. Besides, the proposed restructuring package for MSMEs with a credit of up to Rs 25 crore is expected to provide a breather to units from this sector.
The critical task facing Indian banking is to quickly improve the risk-assessment capability of the state-owned banks, which account for three-quarters of all banking; and if that fails, then to privatise them.
Policy with regard to the foreign banks is part of his five pillars of reforms, says RBI Governor.
Advice to the new finance minister from former RBI governor Raghuram Rajan: 1. Clean up banks by reviving projects that can be revived after restructuring debt. 2. Improve governance and management at public sector banks. 3. De-risk banking by encouraging risk transfers to non-banks and the market. 4. Reduce the number and weight of government mandates for public sector banks, and for banks more generally.
India processes as many as 1.2 billion cheques annually and, therefore, the implementation of this system would drastically cut down the waiting period involved. The system will be implemented nationwide from January 1.
If Indian banks do not fix the right interest rates on deposits, they run the risk of dynamiting the social security of ordinary Indians.
They shied away due to concerns over asset quality and a rise in NPAs.
As the country's HNI population is on a rise, the segment is hard to ignore for domestic banks.
Here's everything you need to know about the entrance examination.
As a young management trainee with SAIL, Pallav Mohapatra was spoilt for choice. He had offers from Allahabad Bank, Bank of Baroda, Indian Bank, Indian Overseas Bank and State Bank of India. He chose SBI only because the bank offered him a posting in Lucknow.
Banker-turned-author Manish Gupta's book English Bites! is a unique guide to the Queen's language that will have you learning and laughing at the same time.
Shares of most European banks are down significantly.
Despite sluggish credit growth, most banks are cautious about growing their unsecured loan portfolio.
India's bond markets have rallied since last year on expectations the Reserve Bank of India will start cutting interest rates as early as February due to sharply easing inflation.
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
Unions said the revised wage structure should reflect the merger of dearness allowance.
V G Mathew, managing director and chief executive officer of South Indian Bank speaks to Gireesh Babu, about demonetisation impact, rights issue and future plans.
The All India Bank Employees Association, Bank Employees Federation of India, All India Bank Officers' Association and National Union of Bank Employees have given a call for one day country-wide strike.
Indian banks have travelled a long way from being laid-back, staff-heavy monoliths to tech-savvy entities. The entry of foreign and private banks have completely changed the Indian banking scenario. Take the Rediff Business Quiz and find out how much
Ashishkumar Chauhan says that the exchange is seeking a valuation of about $1 billion.
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