Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
The ATMs are fully up now and customers can withdraw up to Rs 50,000 from Yes Bank as well as from other banks' ATMs.
About 300 employees would come under the ambit of voluntary decision.
The finance ministry is not only keen to split the roles of CMD, but also wants to appoint them for a fixed tenure of five years.
Members of Parliament, state legislatures, and local governments not eligible to be members of PSB boards
'We have seen something do very well when the times are good but maybe not as well when the times are bad.'
The IPPB, which is currently running pilot services in Raipur and Ranchi, needs a go-ahead from RBI for the software used for system integration
Instructions were issued on holding loan camps in the last week of September.
The UTI Bank board has found a way to retain P J Nayak at the helm by recommending his name as the executive chairman for two years from August 1, 2007. The bank's board made the proposal after a meeting.
While the capital spending is being maintained at 3.1 per cent of the GDP, a little more would have boosted economic growth even further, suggests Rajiv Memani.
The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
This licence will further enhance the niche role Doha Bank is playing and facilitating the movement of trade between Qatar and India.
HDFC Bank expects to amalgamate its home loan major parent HDFC into itself by September next year, a top official said on Friday. Both HDFC and HDFC Bank held general meetings on Friday to seek shareholder approvals for what is billed as the largest merger in Indian corporate history at over $40 billion. At the time of announcing the merger on April 4 this year, the entities had said the merger will take 12-18 months.
'In the case of corporate credit, especially to AAA borrowers, lenders will have to take a fresh look at pricing.'
'It's a debatable topic, and we will submit our comments to the RBI by June 15.'
The three day MPC meeting began on Monday and the decision will be announced on Wednesday by RBI Governor Shaktikanta Das.
Prime Minister Manmohan Singh and UPA Chairperson Sonia Gandhi will inaugurate country's first all-women Bharatiya Mahila Bank in Mumbai on November 19, the birth anniversary of former Prime Minister Indira Gandhi.
The camps would be conducted on December 22 at Gharowa Sonapur Village in Darrang district, an official statement said.
RBI has underlined the need for effective risk control mechanism in banks to avoid scams and banking frauds.
RBI has directed the bank to revise the accounting scheme and the deal structure.
Following Anand Sinha's elevation as Reserve Bank of India (RBI) deputy governor, S Karuppasamy has been promoted an executive director (ED) to fill the vacancy. Prior to this, Karuppasamy was the regional director (Kolkata).
The move will help curb card frauds. Currently, customers use only personal identification number for automated teller machine transactions.
The talk of governance reforms at public-sector banks seems to remain on paper, as a majority of them continue to be working with just a handful board members. Half of the board seat at these banks have been vacant. Ten of the 12 public-sector banks, even large ones like Punjab National Bank, Canara Bank and Union Bank of India - all except State Bank of India (SBI) and Bank of Baroda - don't even have a chairman. In 2014, while splitting the post of chairman & managing director (CMD), the government had decided to appoint non-executive chairmen at these banks. SBI, which has an executive chairman and four managing directors, was an exception.
Twenty-six entities, including the Tatas, Aditya Birla Group, Anil Ambani-led Reliance Capital and Religare, apart from India Post, applied. Videocon Group, later on withdrew its application.
"I would like to resign as an independent director of the bank with effect from January 27, 2020. Given an entity owned and controlled by me has made an application to the RBI for a universal banking license, I felt it was -- in the interest of propriety and corporate governance -- only appropriate that I stepped down from this role," Bansal said in his resignation letter, which was disclosed by Ujjivan SFB in the regulatory filing.
A Rs 525-crore contingency provision during the July-September period led to a 19 per cent fall in IndusInd Bank's share price on Friday (October 25). Contingency provisions are generally made when a lender expects more bad loans in the coming quarters. Shares of the bank on Tuesday (October 29) declined 1.53 per cent to settle at Rs 1,038.2 apiece on the BSE.
Kamath also served on the board of Infosys.
The government has asked the Indian Banks' Association to make sure that IDBI Bank's wages are on a par with other banks.
Short sellers may capitalise on the weak sentiment owing to the dispute between co-founders Rana Kapoor and Madhu Kapur.
He will look after the Department of Banking Operations and the Development and Urban Banks Department, which were held by Usha Thorat who retired in November last year.
Craig Chan, executive director and head of forex strategy & fixed income division (Asia-ex Japan), Nomura Singapore, in an interview with Business Standard's Rajesh Bhayani, shares his outlook on the dollar.
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan's entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country's microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
In an interview with Manojit Saha and Somasroy Chakraborty, executive director Paresh Sukthankar says the bank is adequately capitalised to meet the growth targets for at least a couple of years.
The International Financial Services Centre Authority (IFSCA) plans to operationalise the framework for direct listing of companies at International Financial Services Centre (IFSC) exchanges by the end of the year, said Chairperson K Rajaraman. He added that the amendments would be notified within three months. Further, the GIFT City regulator is also considering the launch of separate payments system regulations - similar to that of the real time gross settlement (RTGS) for banking within a few months.
Arundhati Bhattacharya is a strong contender for chairperson post, after Pratip Chaudhuri retires in September.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
'We found certain banks having lakhs of such accounts with apparently no valid reason.'
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
