Among other demands, the unions are also seeking immediate introduction of five-day week in full and reduction of cash transaction hours and regulated working hours.
Parekh was held guilty in the case related to the 1992 stock scam, in which Canbank Financial Services was duped of over Rs 47 crore (Rs 470 million). On April 1, a special court in Mumbai had sentenced Parekh, Hiten Dalal and four others to one year in jail for siphoning off funds from Canbank Financial Services Ltd, a unit of Canara Bank.
Bankers are expecting a further fall in interest rates, due to ample liquidity in the banking system.
"Benchmark prime lending rate is revised from 12.75 per cent to 13.75 per cent," the bank said in its filing on BSE. The decision by the largest lender was expected but came days after a host of other lenders including HDFC, ICICI Bank, IDBI Bank, Bank of India, Axis Bank, Canara Bank, and Yes Bank announced revisions in interest rates.
Bankers have requested RBI to keep interest rates stable this fiscal, in lieu of sufficient liquidity in the system.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
The government will soon finalise a reshuffle of top management teams in the country's leading 11 public sector banks (PSBs), 10 of which are listed on the stock exchanges. They include the country's third largest bank, Canara Bank, and fifth largest bank, Bank of Baroda.
A panel headed by RBI Governor selects PSU bank chiefs.
The actress who has been in hibernation for quite some time after India Calling, is back.
For the first time, PSU banks will have a non-executive chairman, giving operational responsibility to managing director and chief executive officer.
The finance ministry has finalised the top-level reshuffle in public sector banks.
While the government has infused huge capital into PSBs, the same has largely been used to mitigate losses and has failed to contribute meaningfully to credit growth.
The trained officers would be able to analyse and scrutinise data on hard disks, track e-mails, extract evidence using Internet and mobile phones and will familiarise themselves with cyber crime-related legislation.
BoI, Union Bank follow, earnings to be impacted.
The credit growth in the current financial year has slowed down to 22.6 per cent at the end of January 2007 compared with nearly 30 per cent a year ago. While that in itself is not too worrying, most of the demand stems from companies with retail offtake in low double digits.
Anup Sridhar won the men's singles title in the National Badminton championships.
According to RBI sources, some banks had extended credit to existing borrowers to repay their debt, known as evergreening of loans in banking parlance.
The plan has received positive feelers from Canara Bank, which, along with others, will together hold 49 per cent. The MFI will be set up with a capital of Rs 100 crore (Rs 1 billion).
Business is down to such an extent that last year these firms could not even meet RBI's capital norm of Rs 50 million for partnerships and Rs 100 million for public and private firms in this line of business.
Lenders can now initiate recovery proceedings since the SC has lifted the standstill on asset classification, which protected stressed accounts from slipping into NPAs.
The sale of Daewoo assets in Surajpur to Crosslinks, a company floated by former Hyundai executive B V R Subbu and Spicejet promoter Ajay Singh, has hit a legal quagmire with a slew of new players staking a claim for the 205-acre land.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Metropolitan Magistrate Anuradha Shukla handed down the sentence after finding Arun Kumar Goenka guilty under Section 138 of the Negotiable Instruments Act.
The government would ensure that in the next two or three years, no student would have to stop education because of financial constraints.\n
Popat was taken the distance by B R Meenakshi while Saina Nehwal easily beat Trupti Murgunde in the semi-finals of the Senior National badminton championships.
They need to have 15 years of mainstream banking experience
A major reshuffle of top executives in 11 PSU banks is on the cards with the chairmen of Allahabad Bank, Corporation Bank, Syndicate Bank, Union Bank of India and Vijaya Bank slated to retire between March-July 2006.
Mangalore-based Corporation Bank is considering merger of its housing finance arm Corporation Bank Homes with itself.
R N Subramanian, manager-foreign exchange, Canara Bank, will be the new chairman of the Forex Association of India for the current financial year 2004-05
Canara Bank, celebrating its centenary year, is eyeing operations in South Africa, north America and the Middle-East as part of its overseas expansion plans, its chairman and managing director M B N Rao said on Thursday.
The proposal to increase public float, hike income tax surcharge, move to tax share buybacks and lack of stimulus to shore up economic growth has hurt investor sentiment.
All documents and data were safe as there was a Disaster Recovery Centre for every bank
Canara Bank has offered to help China recover its huge non-performing assets in the banking sector.\n
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