But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
The annual earnings of a non-executive chairman of a PSB is capped at Rs 10 lakh, inclusive of fees for attending board meetings. This is way below the compensation of the chairman of any private bank, reveals Tamal Bandyopadhyay.
The other board members will be Sunil Mehta, former non-executive chairman of Punjab National Bank, as the non executive chairman of Yes Bank, Mahesh Krishnamurthy and Atul Bheda as non-executive directors.
Soon after the lifting of the 13-day moratorium at 6 pm, some customers took to social media complaining that they were not able to access certain services, including internet and mobile banking.
Stocks such as ICICI Bank, Axis Bank, State Bank of India, Bank of Baroda and HDFC Bank are among the top banking picks of analysts for 2017. A decline in cost of funds and treasury gains are expected to help stabilise their net interest margins
The incidence of corruption cases can be checked to a large extent if the suggestions already available with RBI and the government are taken seriously, says Shyamal Majumdar.
Mint Road, on December 21, 2023, flagged the role of self-regulatory organisations (SROs) in strengthening the compliance culture in regulated entities (REs) and providing a consultative platform for policymaking. It also decided to issue an omnibus framework for SROs.
Deloitte India on Friday said it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India's economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services. With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said.
A public interest litigation was filed in the Delhi high court on Monday against permission to exchange Rs 2000 banknotes without obtaining any requisition slip and identity proof.
The minister said this in response to his detractors' claims that the state was reeling under the heavy debt burden.
Axis Bank recently informed the Reserve Bank of India that it had experienced a cyber attack, while the State Bank of India said it was re-issuing over 600,000 debit cards because of a potential security breach.
India on Monday asserted that its friendly ties with the Maldives will continue as Prime Minister Narendra Modi and President Mohamed Muizzu unveiled a blueprint for comprehensive economic and maritime cooperation, signalling a reset of the relationship that had hit a rough patch last year due to anti-New Delhi rhetoric.
Banks looking to raise capital via bond sales to fund decade-high credit growth were compelled to put some of these debt issuances on hold amid a sharp rise in yields since late September, sources told Business Standard. A major private lender, Axis Bank, has not yet followed through with a planned issuance of infrastructure bonds worth around Rs 3,000 crore. This is because volatility in the bond market in late September led to investors seeking higher yields, sources said.
In advanced economies where the financial system is more matured, the form of shadow banking is more of risk transformation through securitisation.
The Reserve Bank of India's ongoing inspection of the book of accounts of Syndicate Bank is unconnected with last week's arrest of S K Jain, its chairman and managing director.
Retail inflation slipped to seven-month low of 3.61 per cent in February mainly due to easing prices of vegetables, eggs, and other protein-rich items, creating space for the RBI to go for another cut in interest rate next month.
Tata Steel was the top laggard in the Sensex pack, cracking over 6 per cent, followed by SBI, IndusInd Bank, HDFC, ICICI Bank and ONGC. Bajaj Auto, Maruti and Asian Paints were the only gainers.
Partha Pratim Sengupta, who will be taking charge as the MD & CEO of Bandhan Bank in early November, has his task cut out. The Kolkata-based lender, which converted itself from a microfinance institution to a universal bank, is in its 10th year of operation. The bank was able to cut down the share of the micro loan book over these years.
Monetary transmission has been an issue for the Indian banking sector.
India Inc on Wednesday said the Reserve Bank's move to cut interest rate by 0.50 per cent is "pro-growth" and exhorted banks to transmit the lower interest rate to borrowers to revive demand and kick-start the investment cycle.
The central bank gave 11 entities licences to start payments banks.
The staff of public sector banks had gone on a nationwide strike for two days beginning February 10 after discussions with the IBA failed.
'Investors' decisions should reflect their financial goals, risk tolerance, and the amount of gold already present in their portfolio.'
The country's largest insurer had been keen to run a bank for a long time to manage the large premium collection and claim settlement work.
For banks to give debt requires equity from promoters, Kumar said, adding that the number of people or business houses who have that capability to invest has shrunk.
A list of lesser-travelled destinations in India that you must explore this year!
The Supreme Court on Thursday refused to examine a public interest litigation (PIL) seeking a judicial probe into the April 22 Pahalgam terror attack in which 26 people were killed.
'Facilitating conversion of well-run NBFCs into banks is urgently needed.'
Tomato prices have been on the boil for more than a month. Data from major cities show that the spike has been between 125 and 150 per cent at the wholesale level. Soaring vegetable prices, including tomatoes, pushed the retail inflation rate to a nine-month high of 5.49 per cent in September, according to government data. Though reports say prices are expected to come down in the next few weeks after supplies improve from Madhya Pradesh and Himachal Pradesh, how long will the respite last is anybody's guess.
The reason why private banks will play the deposit pricing game strategically is the weakening of banks' deposits base given the competition from MFs and insurance companies due to tax-savings schemes.
India decisively withstood global headwinds in 2023 and is likely to remain as the world's fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent.
The rift between the Congress Party and Nationalist Congress Party seems to have found a new battleground Maharashtra State Cooperative (MSC) Bank.
Shortly after the Reserve Bank of India cut its signaling rates and the announcement of stimulus package, leading lenders HDFC Bank and Union Bank of India on Monday reduced their benchmark prime lending rates (PLR).
A proposal discussed by the RBI brass with key finance ministry functionaries in Delhi last week has favoured merger of large public sector banks with small state-run entities and private players, sources close to the development told Business Standard. It has also identified the potential partners for a merger based on the RBI's inspection report for the last two-three years, they added.
The Delhi Commission for Women has issued a notice to Indian Bank seeking withdrawal of its new recruitment guidelines which prevents a woman, who is three or more months pregnant, from joining service.
SBI has announced an investment of Rs 7,250 crore in Yes Bank through the acquisition of 725 crore shares at Rs 10 each.
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
The police said that the threat email was sent from the accused, Mohammed Arshil's ID.
Market downturns or regulatory shifts can reduce liquidity, making it harder to buy or sell assets when needed.
The rupee has already shed around 3.3 percent over the last five sessions.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances