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Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
Mallya is separately fighting extradition to India on fraud and money laundering charges worth an estimated Rs 9,000 crore
The Reserve Bank has asked the public to pay their income tax dues well in advance so as to avoid standing in long queues and stated that 29 agency banks are also authorised to accept such payments.
First case filed after new norms come into force, NCLT admits plea.
However, it is understood that the liquor baron has suggested his legal team can help ED in taking the probe forward.
PNB reported the maximum number of such frauds.
Kotak Mahindra Bank's acquisition of ING Vysya Bank is the country's first ever amalgamation of a profit earning entity post the global financial meltdown in 2008.
Riding on a strong market sentiment, these stocks have outperformed the bellwether. The flip side is, they can fall faster when the tide turns.
RBI had asked banks to price fixed rate loans of up to three years based on marginal cost of funds from April 1
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
Will Infosys, which will announce its Q2 results on Tuesday, be able to break away from the single-digit growth rates the IT services sector has been seeing?
Mallya has lived on the edge for long enough to know that his extradition from UK is not a given, says N Sundaresha Subramanian.
The NSE 50-share Nifty also closed higher by 61.60 points, or 0.59 per cent, at 10,504.80 after shuttling between 10,513 and 10,441.45.
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.
The value of transactions through debit and credit cards used at the PoS fell to Rs 64,200 cr in February
The 17-lender consortium, led by State Bank of India had put on auction the property with a reserve price of Rs 115 crore, which was 15% less than the second auction of the property held in August
RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
The trouble-torn 2,184 MW Dabhol power project is all set to be restarted with General Electric, one of the major equity holders, slated to reach an agreement with Indian financial institutions by this month end.
The Industrial Development Bank of India-led consortium will meet the foreign lenders in London on Wednesday for taking over their outstanding dues in the troubled Dabhol Power project.
'The Insolvency and Bankruptcy Code is neither beneficial to banks nor helpful for the borrower.' 'Genuine people who are caught in economic stagnation will lose everything and thousands will lose jobs.'
Friday's US data showed addition of 173,000 jobs in August.
Anil Khandelwal, Chairman of Bank of Baroda, expects a 25% credit growth in FY07. He says that BoB did not bid for UWB due to their existing presence in Maharashtra. He adds that the UWB branches will give IDBI good reach and size.
BoB now has over 9,500 branches, 13,400 ATMs, 85,000 employees to serve 12 crore customers.
The Bombay high court has given its go ahead for transfer of assets of the 2,184 MW Dabhol power plant to Ratnagiri Gas and Power Pvt Ltd, paving the way for restarting the plant before the end of 2006.
The next phase is when factors such as prison conditions in India are likely to take centre-stage.
Five photos of western style toilets were presented to convince the court that acceptable standards would be extended to Mallya.
R H Patil was on Thursday appointed chairman of UTI Asset Management Company, the country's largest mutual fund.\n\n
The Empowered Group of Ministers looking into the Dabhol power project fiasco is likely to meet on Friday to discuss ways to restart the plant that has been lying idle for over three years.
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