Digibank will offer only savings deposits initially, but will expand to include investments and lending in the coming months.
The RBI now brings in important and contentious changes directly through voluminous Master Directions, or Master Circulars
Faced with an increase in defaults on home loans, banks are beginning to feel the 'bite' after growing their portfolios at breakneck pace in the last three years, according to State Bank of India Chairman O P Bhatt.
Peasants from Maharashtra's drought-affected Beed district feel the government machinery and politicians are indifferent to their plight.
Chidambaram mocked her with a tongue-in-cheek tweet.
The broader NSE Nifty moved between 10,705 and 10,785.55, before ending 25.15 points, or 0.23 per cent down at 10,716.55.
They rallied to beat Indian Bank in their concluding match in the NFL.
Belgium-based financial transaction SMS provider SWIFT is working on a partnership with eight leading Indian banks to form a joint company by 2012-end to expand its footprint in banking and financial sector of India, a company official said on Wednesday.
A letter containing the demands had been given to the authorities including Indian Banks Association on March 26, but no decision was taken, United Forum of Bank Unions convenor A C Joseph told media on Tuesday.
Woefully inadequate infrastructure is just one of the many reasons why a case is not settled within 180 days and even 270 days as envisaged by the law, says Tamal Bandyopadhyay.
The final hearing in the case at the London magistrate's court to extradite Mallya to India is scheduled later this month.
On the other hand, quasi-state owned National Bank of Pakistan and privately-owned United Bank Ltd will be running full-banking operations across the border, once licensed by India.
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
Limit your investment in cryptocurrencies and make sure you have current holdings in your own custody until regulatory cloud blows over, experts tell Sanjay Kumar Singh.
The yields on the US Treasuries that are used as a benchmark for pricing dollar-denominated bonds eased providing relief on overall pricing.
The Reserve Bank on Friday raised the interest rate ceiling on NRI deposits in foreign currencies by up to 3 per cent, To attract inflows in view of falling rupee.
The heartburn is over six sensitive issues
RBI seeks detailed report on what happened between 2011 and now; bankers to recall loans to Nirav Modi entities.
'Fall in line or you will be in the line of fire.'
'We feel there is definitely something murky in the system.' 'Will anyone believe that Nirav Modi will go to a branch and bribe a low-level officer?' 'Just look at the people with whom he had moved around.'
The unions have called for a strike against proposed closure of associate banks and their merger with the State Bank of India
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Banks had a tough time in recovering loans from corporates in 2014.
Though most experts remain bullish on the banking space, they suggest investors buy only those banks whose NPAs are at a manageable level of 3% to 4% and there is credit growth or earnings visibility.
A 4-2 win over India bank saw them climb the NFL ladder.
'As long as the government owns the banks, bankers will follow signals from politicians as to how to lend.' 'State-owned banks will remain State-owned banks as long as the current dispensation is in power -- and certainly there will be no change if the other chaps get in,' says Mihir S Sharma.
Banks may also rate students every year and fix interest rates according to the ratings.
Remunerate Business Correspondent Channel to bring sustainability and scalability in the model
Take their credit card business to sub-Tier-II cities to tap latent demand
How did marquee Dalal Street investors fare in the Jan-Mar quarter that saw the BSE Sensex tank 10 per cent?
With real estate -- NRIs's favourite investment vehicle in the past -- unlikely to do well in the near future, there is a strong case for NRIs to shift to equity and debt mutual funds, says Prateek Mehta.
Applying for a loan? Your religion will soon be a deciding factor!
Noting that India continued to be the second fastest growing economy in the world after China, Finance Minister P Chidambaram on Saturday said people should not be worried about the current slow down and expressed hope of achieving six per cent growth this fiscal.
Bankers and industry analysts say a number of public and private sector banks have expressed willingness to offer fresh loans to Indian companies to help them repay their overseas dues maturing in the near term.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
The new guideline aims at mitigating currency risk attached with the rupee borrowings.
The Reserve Bank of India on Thursday allowed Non-Resident Indians to hedge currency risk for external commercial borrowings (ECBs) denominated in rupees with Indian banks.
The Reserve Bank on Wednesday permitted wholly-owned subsidiary (WOS) of foreign banks to acquire domestic private sector banks as well as set up branches anywhere in the country.
Move over Visa, MasterCard and American Express. Here's an indigenous, cheaper alternative that will not only benefit Indian banks but Indian who use debit cards and credit cards to make payments.
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