United Bank of India and Andhra Bank employees start organising silent protests.
Kundapur Vaman Kamath, managing director and chief executive officer of ICICI Bank, has been chosen Business Standard's Banker of the Year for 2005-06.
'Infusion of fresh capital, handsome growth in deposits and focus on recovery should bring Yes Bank back on the growth path in the next financial year,' observes Tamal Bandyopodhyay.
Kuntal Patel, employed at the Barclays Bank in CanaryWharf, was arrested following anti-terror raids at three addresses in London.
Despite markets turning volatile, share sale activity at India Inc has surged to its highest level in five months. So far in March, promoters, strategic investors and other large shareholders have been able to offload shares worth more than Rs 33,000 crore-the most since November-defying uncertain market conditions. Both the Sensex and the Nifty are on course to post their fourth straight monthly loss amid headwinds, such as interest rate tightening by the US Federal Reserve and the global banking crisis.
Banks are seeking clarification from RBI on the reverse mortgage housing loans for senior citizens
At a meeting with the central bank, bankers opposed the entry of new banks, as there were enough players already. Newer entrants would only increase "unnecessary" competition and deplete their margins, top bankers told central bank officials.
Bankers said they are looking outside the bankruptcy courts and will be able to resolve a few debts in the power sector before January-end.
Bankers and government officials told Reuters Rajan's successor may be less aggressive in fighting bad loans, but the general direction will remain the same
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.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
India's largest cement firm, Ultratech Cement, has joined the race to acquire the Holcim stake in Ambuja Cements and its subsidiary, ACC. UltraTech - part of the Aditya Birla Group - submitted a non-binding bid on Wednesday. Swiss multinational Holcim, which manufactures building material, is exiting India by selling its 63.19% stake in Ambuja Cements. According to banking sources, UltraTech has submitted a plan to Holcim, outlining divestiture details that would meet the norms set by anti-trust body Competition Commission of India.
In an email to bank officers and staff, he hailed their contribution in "successfully" rolling out the scheme but added a word of caution against slackening.
In the current calendar year, small and medium enterprises (SMEs) have witnessed an impressive surge in initial public offerings (IPOs), surpassing the 2018 record. Over 150 SME IPOs have been introduced to the market, breaking the previous record of 141 set in 2018. According to data from PRIME Database, a primary market tracking firm, 147 companies successfully concluded their debut share sales by the end of October, raising a cumulative Rs 3,727 crore.
Foreign banks were ahead in terms of technology, but that is no longer the case as Indian private banks steal the innovation march.
Apart from easing the NPA pressure on domestic banks, the RBI's move can allow companies to raise cheap, long-term loans easily now.
Bankers say loan demand was more muted this festival season than last year.
'By not letting bankrupt banks fail, we have discouraged ordinary folk from taking precautions while choosing their bank or at least when they hear bad news about their bank,'says S Muralidharan, former MD, BNP Paribas.
The Garhwal region collectively has deposits worth Rs 2,100 crore and advances worth Rs 1,000 crore.
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
Each of the larger states may need less than Rs 10,000 crore each to finance the exercise.
The Essar group, Jindal Steel and Power, Monnet Ispat, Bhushan Steel and the Avantha group have been asked to close deals by March-end.
Bank unions - officers and workmen - had buried their differences and sat across the table on August 29 to work out a fresh deal with the IBA involving a 20 per cent wage hike.
'What more can I ask for?' 'Salman and Ranbir Kapoor know how to respect their seniors.'
Sameer Nath, head of mergers and acquisitions for Citi Group Global Markets India, has been busy working on domestic restructuring and consolidation deals over the past six to nine months.
Gill, who studied at Modern School and Hindu College in Delhi, joined Deutsche Bank in 1991 and became its India CEO in 2012.
Greece will extend a bank holiday that has been in effect since June 29 for two more days.
The private banks won laurels because they pulled the banking system out of a decades-long stupor, combining technology and aggressive marketing to win customers. Now the shoe is on the other foot
A whirlwind trip of the dark underbelly of global finance, covering everything from tax law changes to aiding criminals to decamp with money from bank accounts.
How much will the banks' bad assets grow in March? It could be anywhere between Rs 1.2 trillion and Rs 2 trillion, observes Tamal Bandyopadhyay.
Now, customers can do a real time cash deposit into a bank account, withdraw cash, deposit cheques, transfer funds, open fixed deposits, generate bank statements, pay insurance premiums, home loan EMIs and so on.
The rally followed the govt's plan to bolster state-owned lenders.
Many banks are contemplating to set up additional counters for withdrawal to meet the rush
This call comes even as both RBI as well as the government are fighting high inflation, driven by a massive jump in vegetable prices since mid-December with unseasonal rain affecting crops.
Describing its choice as a "vote for the future", a distinguished four-member jury selected State Bank of India (SBI) Chairman Om Prakash Bhatt as Business Standard's Banker of the Year for 2006-07.
HDFC Bank becomes first Indian lender to develop mobile banking app for Apple's latest offering in India.
Arundhati Bhattacharya, chairman of country's largest lender State Bank of India said demonetisation of high value notes won't be a problem as the bank has done it before.
Uniform NPA classification proposed; Kingfisher, Winsome Diamonds among top 3 in finance ministry's top-50 defaulters list
While Gupta, 60, can rightfully bask in the glory he has achieved for his bank in the subcontinent, his peers in foreign banks will have to revisit their India play, especially the local incorporation model, says Raghu Mohan.
For the first time ever, a Chinese bank has topped the world's top banks' ranking.
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