'We try to pick up stocks early and hold onto them for the long term.' 'We are not someone who buys and sells on a daily basis.'
As many as 13 RRBs have finished implementing Finacle CBS solution for their operations.
Private sector banks are way behind their PSU peers when it comes to opening financial inclusion accounts under the Prime Minister's Jan Dhan Yojana
The decision, taken at a Cabinet meeting, will help lenders provide farmers short-term crop loan at 7 per cent interest.
Chikmagalur Kodagu Grameena Bank, a regional rural bank, would be merged with the Corporation Bank.
The prime minister's Economic Advisory Council had said inflation would be at 7-8 per cent by the year-end, compared with 10.55 per cent in June.
The banks including public sector, cooperative and regional rural banks, were set a target to lend Rs 3,25,000 crore (Rs 3,250 billion) of credit to farmers last fiscal.
RBI to issue discussion paper on new licence conditions this week.
"The expectation is that the erratic monsoon may put pressure on inflation," RBI Deputy Governor K C Chakrabarty told reporters on the sidelines of a meeting of regional rural bank chiefs with Finance Minister Pranab Mukherjee.
The much awaited implementation of the over Rs 71,000 crore (Rs 710 billion) farm debt waiver and relief scheme got underway on Thursday with public sector banks, regional rural banks and cooperatives displaying names of the beneficiaries at branches.
The finance ministry has called a meeting of the State-Level Bankers Committee in New Delhi on Tuesday, which will be attended by officials from scheduled commercial banks, regional rural banks, cooperatives, Reserve Bank of India, National Bank for Agriculture and Rural Development, the Centre as well as states. The meeting will be presided over by financial services department secretary Arun Ramanathan.
The committee headed by RBI's Deputy Governor Usha Thorat made a series of recommendations that include increasing banking penetration and strengthening of Regional Rural banks and Urban Co-operative banks in the region. It said post offices, traditional institutions and NGOs need to be co-opted by the banking industry so as to encourage economic activities.
To tighten its focus on curbing money laundering activities, the Reserve Bank of India has now asked cooperative as well as regional rural banks to tweak their reporting mechanism to help agencies track all suspicious financial transactions.
If struggling with dealing with queues of people asking for new notes wasn't enough, banks are now facing the challenge of storing the old notes in their strong rooms.
RRBs, which cater to the rural sector, are sponsored by major public sector banks, and Centre and State governments also hold stake in them. Earlier, the bankers told Chidambaram that they were facing liquidity crunch due to delay in the relief package, and were unable to provide credit to farmers.
Corporation Bank has stopped proceedings for the merger of Chikmagalur Kodagu Grameena Bank with itself.
Soon, farmers in India will be equipped to check out the futures prices of commodities in their villages.
A Bangalore-based firm devises a finance system to help rural households access solar energy.
The amount of loans to small and marginal farmers that commercial banks, cooperatives and regional rural banks have been asked to waive is likely to be slightly over Rs 23,000 crore (Rs 230 billion), less than half that estimated by Finance Minister P Chidambaram in his Budget speech. The share of this due to commercial banks is probably around Rs 6,000 crore (Rs 60 billion) the total overdue from all farmers to commercial banks is around Rs 10,000 crore (Rs 100 billion).
While banks are not as exposed as the corporate sector during the initial stage of the pandemic, the strain on lenders could ultimately be profound. Banks face a second-order hit compared with the corporate and household sectors.
Of the 66.56 million cards, co-operative banks have issued about 32.71 million cards. Regional rural banks have issued about 12 million cards while commercial banks about 25.5 million cards.
Finance Minister P Chidambaram on Thursday said customs duty cut on a number of items has been advanced, including edible oils, to curb high inflation.
On reforms in pipeline, she said the government is for universal right to minimum wages and wants to remove regional disparity through a national floor wage.
Timely preparation and picking the right questions will help you crack these examinations and secure a job.
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
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.
Nationalisation has served its purpose. It's time to move ahead, keeping majority ownership of the government in a few banks to serve the people, argues Tamal Bandyopadhyay.
Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions have gone on a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
RBI has invited case studies from participant banks by January 31.
'RuPay' is developed by National Payments Corporation of India.
In all, 14 unions representing bank employees and officers will be supporting the day-long stir.
As a result of this moratorium, individuals' EMI payments of loans taken will not be deducted from their bank accounts, providing much needed liquidity to borrowers whose income has been disrupted due to the lockdown till May 31.
Those who like to draw comfort from the fact that UP is the country's third-largest state in terms of the size of its economy should also note that its growth rate is one of the lowest, its per capita income is almost half of the national average and its poverty rate at 30 per cent places it at the twentieth rank among all the states, says A K Bhattacharya.
That's the government's goal for the Unified Payment Interface by March. Are they close? A P Hota, the man at the helm, answers.
The report contains names of entities eligible for bank licences. It was not immediately known how many applicants have been shortlisted by the high-level advisory panel.
The department of financial services has decided to give banks commission, to ensure these accounts are kept active.
Banks have collected about 1,500 kg of gold from temples and trusts under the Gold Monetisation Scheme (GMS) since its launch last November.
Earlier, the RBI had imposed similar restrictions on commercial banks and NBFCs.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances