For the baning sector, 2018 was a 'Year of Exits' - borrowers fled from the country as loans went kaput and many bank CEOs were forced to leave
Rediff.com's A Ganesh Nadar takes a tour of banks in a Chennai suburb and finds that nothing has changed in one month since demonetisation.
Small queues were witnessed at some bank branches on Tuesday for the exchange of Rs 2,000 notes against smaller denominations as part of the withdrawal exercise. As per the RBI guidelines issued on Friday, the exchange of Rs 2,000 facility is available from Tuesday. A person can exchange up to a limit of Rs 20,000 at a time without filling any form or requisition slip.
The jewellers and companies linked to Nirav Modi and Mehul Choksi had allegedly colluded with PNB officers to obtain fake bank guarantees to get loan from overseas branches of Indian banks including Allahabad Bank, Axis Bank and UCO Bank.
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
Six Indian women have made it to Asia's most powerful women list released by Forbes.
Banking stocks led by Yes Bank, ICICI Bank, Axis Bank and SBI came under heavy selling pressure
RBI seeks detailed report on what happened between 2011 and now; bankers to recall loans to Nirav Modi entities.
After the recent attack on debit cards exposed the gaps in their security systems, banks are getting serious about data privacy.
Banking services across the country were hit on Wednesday by the day-long strike by 10 central trade unions and 14 bank unions, but workers of largest lender SBI and a few other banks stayed off the agitation.
Readers share their bitter-sweet experiences at the ATM.
There is not much bank employees can do, but some words of encouragement from the management would have helped. Stretched working hours and the tense atmosphere is taking a toll on their health.
Documents accessed by Business Standard show owners of suspected Hong Kong-based shell companies are spread across the globe.
A communication goof-up between Vijay Mallya-promoted Kingfisher Airlines and its banker saw a cheque of Rs 12,975 bounce, much to the embarrassment of the country's largest private carrier, which promptly arranged a bank draft for the recipient.
Puri gave up the comforts of Citibank to set up a new-age bank from a rat-infested room in the Kamala Mills Compound in Worli, Mumbai and build a marquee brand. A look at his 26-year stint as HDFC Bank's boss.
The Mudra Institute of Communications, Ahmedabad (MICA) invites applications for its Post Graduate Diploma in Management (Communications).
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
MIT School of Distance Education announces admissions.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
Private players offer convenience for slightly higher rental than banks.
While the first three parts of the operation, codenamed 'Red Spider', dealt with Indian banks (both private and state-run), the fourth part targeted a couple of foreign banks.
New-generation private sector banks such as ICICI, HDFC, Axis, Kotak etcetera owe their existence to the recommendations of the first Narasimham Committee.
Gill, who studied at Modern School and Hindu College in Delhi, joined Deutsche Bank in 1991 and became its India CEO in 2012.
There is a huge gap in service charges on other factors such as penalty on cheque return.
The agency on Monday questioned three general managers of the Punjab National Bank who have handled the -International Banking Division and Treasury department of the bank, officials said without revealing their identity.
ICICI's Chanda Kochhar, ranked highest among Indian women, has been ranked second across the region
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed two spots to No. 53 on Forbes' latest Global 2000 list of public companies worldwide. Forbes Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value, Forbes said releasing the 2022 ranking of the world's top 2,000 companies. Reliance is the top-ranked Indian firm on the list, followed by State Bank of India at No. 105, HDFC Bank at No. 153 and ICICI Bank at No. 204.
Upgradation to the new product (from Infosys) will stabilise by this month-end
The CBI has filed a fresh case against absconding diamantaire Mehul Choksi, wanted along with his nephew Nirav Modi in a loan fraud case of Rs 13,500 crore, for allegedly inflating the value of diamonds and jewellery pledged to get Rs 25 crore loan from IFCI, officials said on Monday. The CBI has booked Mehul Choksi, his company Gitanjali Gems and valuers Surajmal Lallu Bhai and Co, Narendra Jhaveri, Pradip C Shah and Shrenik Shah, they said. The central agency has acted on a complaint from Industrial Finance Corporation of India (IFCI) Ltd alleging that Choksi had approached it in 2016 seeking Rs 25 crore working capital loan for which he had pledged shares and gold and diamond jewellery.
2013 foreign currency non-resident deposits to mature in Sep-Nov
For FY21, CSB is looking at growth of around 25 per cent and is confident of doubling it in two years. And it is also exploring options to acquire a mid-size bank with a good client base and branches in the north to acquire an all-India presence.
Over 25,600 cases of banking fraud reported up to December 21, 2017, says Minister RS Prasad.
ICICI Bank was the top Sensex gainer after S&P Global Ratings affirmed its 'BBB-' long-term issue ratings on the senior unsecured bonds.
New offerings by banks are changing the way you transact.
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
'If this first instalment of advance tax is paid by June 30, instead of June 15, then the interest on delayed payment will be levied at 0.75% per month instead of 1% per month,' notes Homi Mistry, a partner with Deloitte India.
It is to keep labour unions away and make the employees feel important.
A white-label ATM is similar to a normal bank ATM but is not owned by a bank, instead by a private ATM service provider.
In what could be the biggest cash heist in the national capital, the driver of a cash transit van allegedly fled with around Rs 22.5 crore from southeast Delhi's Govindpuri area on Thursday.
Firestar Diamond, which on its website states that its operations span the US, Europe, the Middle East, the Far East and India, blamed liquidity and supply chain challenges.
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