Bankers say outward remittances is confusing but can still be attributed to perception of stability in Indian economy.
The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
Describing RBI policy as not surprising, State Bank of India Managing Director and Chief Financial Officer Diwakar Gupta said there is room for the central bank to look at the long-term and not too much on the short-term issues like rupee fall and the CAD.
A common feature in India is the lag between the occurrence of frauds and the time they are actually reported.
The suspected security breach happened through a malware in the systems of Hitachi Payments Services, which serves ATM network of Yes Bank
Enthused by the upbeat mood visible about India at the World Economic Forum in Davos, eminent banker Uday Kotak said investors now want to see some real action on the ground.
RBI might further cut rates by 50-75 basis points later.
Ahead of the general elections, a slew of states and also the Centre had doled out sops to the marginalised sections, including the farmers and the poor.
Reserve Bank of India Governor Raghuram Rajan had said recently that there was "no need" to set up a separate bad bank to deal with stressed assets of public sector lenders.
The previous highest divestment proceeds for the first half of a year was around Rs 21,000 crore in 2016-17.
Increase in surcharge will adversely impact fund managers planning to shift to India. As a matter of fact several fund professionals based in India could also relocate to other jurisdictions, resulting in a brain drain.
Worried over the fallout of the Supreme Court's observations on allocation of coal blocks, India Inc wants the apex court to consider a reprieve for those allotted to genuine companies that have invested billions.
Of the 40 CEOs polled from across the country, 60 per cent identified a fractured electoral mandate as a bigger risk than trade wars, volatile oil prices, and inflation.
The central bank had nudged banks to cut lending rates.
Reserve Bank Deputy Governor S S Mundra on Friday said that he expects banks to cut interest rates
Official is accused of taking a bribe of Rs 2 cr to issue order in an appeal favouring Balaji Trust
Tag for defaults on nearly Rs 7,000 cr loans to long-grounded Kingfisher Airlines
The 5-nation BRICS group on signed an agreement to create a $100 billion pool of foreign-exchange reserves to help each other.
In August, RBI allowed 11 business houses to start a payments bank.
Deposit rates for non-resident Indians may rise following Tuesday's rate hike by the US central bank Federal Reserve and due to the impact of forthcoming India Millennium Deposit redemptions worth over $7 billion, bankers said on Wednesday.
ICICI Bank has the largest proportion of SDR loans as a percentage of its total, followed by state-run United Bank of India and Canara Bank.
The tickets are being sold on first-come-first-serve basis in some branches of the Central Bank, the official bankers of the DDCA.
With the government proposing to give flexibility to the Reserve Bank of India in fixing prudential limits, bankers expect a cut in statutory liquidity ratio
In some ways, Jyotiraditya parting ways with the Gandhis was similar to the saga of the Gandhis and the Bachchans, largely a story of friendship that turned sour. A fascinating excerpt from Rasheed Kidwai's The House Of Scindias: A Saga Of Power, Politics And Intrigue.
For the fortnight ended September 5, annual credit growth in the banking system fell to 9.68 per cent, data released by the Reserve Bank of India showed.
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.
Amidst bankers and industry crying foul over RBI's move to squeeze liquidity, Reserve Bank Governor D Subbarao on Friday met Finance Minister P Chidambaram ahead of first quarter policy review next week.
Agency sources said that besides Mallya, his companies Kingfisher Airlines and United Breweries Holdings Limited have been named as accused in the FIR.
While State Bank of India with $78.88 billion in assets was among top 30 largest banks in Asia, Corporation Bank emerged as second strongest bank in the region, based on seven crucial financial parameters.
What will be the impact on the Euro itself? Will it devalue and to what extent?
'When there is unlocking, there is demand revival.' 'This is going to be the main growth engine in this kind of an economic scenario.'
'Not only are four of the top five fathers, but Federer famously injured a knee, weakened by years of twisting and turning on tennis courts, early this year while giving his elder pair of twins a bath.'
Generally, the central bank grants its approval by mid-March, or latest by March 31, but most banks have not received RBI approval on bonus packages this year.
Rajan said the RBI is working on upgrading the capabilities of its inspectors to undertake bank system audits as well as to detect vulnerabilities in them
