India processes as many as 1.2 billion cheques annually and, therefore, the implementation of this system would drastically cut down the waiting period involved. The system will be implemented nationwide from January 1.
The bank chiefs have also cancelled the customary media conference after the bi-annual policies.
If Indian banks do not fix the right interest rates on deposits, they run the risk of dynamiting the social security of ordinary Indians.
They shied away due to concerns over asset quality and a rise in NPAs.
As the country's HNI population is on a rise, the segment is hard to ignore for domestic banks.
'In their over-enthusiasm to clean up the system, both the banks and the regulator should not forget that the key to the insolvency law is revival of companies -- recovery of bank dues is an offshoot of that,' points out Tamal Bandyopadhyay.
Indian banks have travelled a long way from being laid-back, staff-heavy monoliths to tech-savvy entities. The entry of foreign and private banks have completely changed the Indian banking scenario. Take the Rediff Business Quiz and find out how much
As a young management trainee with SAIL, Pallav Mohapatra was spoilt for choice. He had offers from Allahabad Bank, Bank of Baroda, Indian Bank, Indian Overseas Bank and State Bank of India. He chose SBI only because the bank offered him a posting in Lucknow.
Banker-turned-author Manish Gupta's book English Bites! is a unique guide to the Queen's language that will have you learning and laughing at the same time.
A key hindrance to a faster turnaround of these banks is the slow progress in the resolution of legacy bad loans and the need to build up provisions against those assets.
Despite sluggish credit growth, most banks are cautious about growing their unsecured loan portfolio.
Unions said the revised wage structure should reflect the merger of dearness allowance.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
Here's everything you need to know about the entrance examination.
International claims of Indian banks have risen by 41.15 per cent to Rs 1,49,167 crore (Rs 1491.67 billion) at the end of June 2007 on account of higher exposure to guarantees, derivatives and credit commitments. Exposure of Indian banks to derivatives rose 79 per cent to Rs 13,999 crore (Rs 139.99 billion) at the end of June 2007, as against Rs 7,818 crore (Rs 78.18 billion) in the corresponding period in June 2006, data released by Reserve Bank of India said.
The All India Bank Employees Association, Bank Employees Federation of India, All India Bank Officers' Association and National Union of Bank Employees have given a call for one day country-wide strike.
India's bond markets have rallied since last year on expectations the Reserve Bank of India will start cutting interest rates as early as February due to sharply easing inflation.
The unions have also threatened to explore an indefinite strike option, if their demands were not addressed.
Over the last week, several banks have cut rates by 25 basis points, clearly not enough to fuel credit demand.
Shares of most European banks are down significantly.
Credit rating agency ICRA has said that mergers are one of the best options for growth of Indian banks but warned that it may not solve some "basic problems" of Indian banks plagued by inferior asset quality, poor management and lack of autonomy.\n\n\n\n
Consolidation will help banks derive economies of scale, but integration will not be easy.
V G Mathew, managing director and chief executive officer of South Indian Bank speaks to Gireesh Babu, about demonetisation impact, rights issue and future plans.
Mahapatra committee observes extraordinary rise in restructured assets With debt recasts rising substantially over the past two years and a major part of such loans threatening to slip to the non-performing category, Indian banks' credibility will be at stake in case of a latter scenario, the Reserve Bank of India said on Thursday.
For banks, the package will limit the burden of provisioning for stressed loans. Besides, the proposed restructuring package for MSMEs with a credit of up to Rs 25 crore is expected to provide a breather to units from this sector.
The 'Dun & Bradstreet - Polaris Financial Technology Banking Awards 2012' seeks to recognise the growth and resilience of the Indian banking industry.
US-based Citigroup attracted the attention of hundreds of people within minutes of it posting messages on social networking platforms, Twitter and Facebook, last night about banking services on Facebook.
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
Foreign banks say they have been caught in a "conflict" situation with respect to the manner in which the Reserve Bank of India (RBI) conducts inspections at their branches.
Advice to the new finance minister from former RBI governor Raghuram Rajan: 1. Clean up banks by reviving projects that can be revived after restructuring debt. 2. Improve governance and management at public sector banks. 3. De-risk banking by encouraging risk transfers to non-banks and the market. 4. Reduce the number and weight of government mandates for public sector banks, and for banks more generally.
A Reserve Bank panel has suggested a benchmark floating interest rate, especially or home loans, to bring greater transparency in the pricing of credit.
26 chartered accountants associated with such shell companies have also been identified
As ATMs hold huge amounts in cash and criminals use them to get to customers' cards and PIN data, electronic security is crucial
The bank will have around 501 branches.
Head of state-run Indian Bank T M Bhasin had called for a CRR cut.
Finance Minister P Chidambaram asked Britain on Thursday to allow Indian banks to open more branches in that country.
For first time in 8 yrs, stake sale proceeds could exceed Budget Estimates. ONGC's acquisition of HPCL alone could get the exchequer more than Rs 30,000 crore.
A section of the public sector banking employees will go on two-day all-India strike from Wednesday to protest against financial sector reforms and outsourcing of jobs.
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