With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.
ICICI Bank, the country's second-largest bank, has stopped lending to borrowers from the sub-prime segment, while the biggest player in small loans, Citigroup, has made its processes more stringent.
Attacking the Bharatiya Janata Party for failing to bring back black money within 100 days of power, All India Congress Committee leader Rahul Gandhi claimed that administration was "an art that required patience and seriousness" and the BJP lacked the abilities.
'The government must find worthwhile private owners for some of the banks, increase the share of private sector banking in the system, and then ask the remaining government banks to face the discipline of the market and compete, or shrink into irrelevance,' says T N Ninan.
The booming consumer finance space and the growing opportunities in corporate finance is forcing foreign banks to set shop in India.
Smaller enterprises who are already fighting a losing battle on various fronts will see credit tightening.
'The banking sector appears to be on course to recovery,' declares the RBI governor.
UBS India, the domestic franchise of Swiss banking major UBS Group which last month surrendered its banking licence, has started laying off around 50 people, who are affected by the decision.
The Reserve Bank of India's (RBI) denial of permission to Swiss bank UBS to acquire Standard Chartered Asset Management Company has come as a blessing in disguise for Standard Chartered Bank.
Standard Chartered Bank is expected to seal the deal of its Mutual Fund business in the near future.
Finance Minister P Chidambaram asked Britain on Thursday to allow Indian banks to open more branches in that country.
SBI is keen on big overseas acquisitions that will give it a 'strategic fit' along with new products and access to cheaper capital. SBI is not keen on small foreign banks worth a few millions, chairman O P Bhatt said.
This is the second all-India bank strike in as many months.
Foreigners and NRIs will soon be allowed to book train tickets online for domestic travel in India from abroad using their credit or debit cards.
The commercial banks have begun issuing passbooks and account statements to the customers every month without charging any fees, following the diktat from the Reserve Bank of India.
According to dealers, the spot rupee would have reached higher but for the continuous Reserve Bank of India intervention in the foreign exchange market.
The results, while bringing the Congress back to power in this state, also end the rule of the 66-year-old BJP stalwart, who has earned several monikers during his 15-year-long tenure -- Doctor saheb being a trained Ayurvedic medical practitioner, chaur wale baba for his popular rice scheme and the 'Mobile Wale Baba' for giving free smartphones to 50 lakh women and students.
Traders will continue to focus on the measures new Prime Minister Narendra Modi-led government will take to bring down the fiscal deficit and fight inflation.
The RBI wants to include shares and options within the variable salary of the CEOs, proposed to be capped at 200 per cent of their fixed salary; the floor for it is 50 per cent.
The Supreme Court on Tuesday said it was more interested in getting the black money stashed abroad back to the country than the disclosure of names of illegal account holders in foreign banks.
Encouraged by the huge opportunities offered by the booming Indian market, UAE banks are looking at Asia's second-fastest growing economy for expansion.
The extraordinary admission on Tuesday came the same day as Trump's former campaign chairman, Paul Manafort, was convicted of five counts of tax fraud, two counts of bank fraud and one count of failure to disclose a foreign bank account. The jury was unable to reach a verdict on the remaining 10 counts, and the judge declared a mistrial on those charges.
Though interest rates have peaked, a hike in cash reserve ratio by the Reserve Bank of India cannot be ruled out in the first quarterly review of monetary policy later this month, a top official of a foreign bank said on Monday.
Finance Minister P Chidambaram has urged Britain to allow Indian banks to open more branches in that country.
The financial sector will have reason to cheer in the next few months, says the government
Forex dealers said besides capital inflows, selling of the US currency supported the rupee but a lower opening in the domestic equity market and dollar's strength against other currencies overseas capped the gains.
Forex dealers said though increased demand for the US currency from importers put pressure on the rupee but a higher opening in the domestic equity market and the dollar's rise against other currencies overseas, capped the losses.
The rupee recovered from more-than three months low of 63.15 in early trade on dollar selling by banks.
Standard Chartered Bank, the country's second-largest foreign bank, is removing the ceiling on its India exposure to tap into the 9 per cent economic growth and expand operations, especially in infrastructure funding.
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In New York market, the dollar lost ground against most major rivals on last Friday amid mixed US data on industrial production and consumer sentiment.
The Supreme Court appointed Special Investigative Team, which is looking into the black money cases, on Thursday said it will go after the offenders "big or small" but also made it clear that the confidentiality of account holders abroad will not be violated.
The Centre on Wednesday placed a list of names of 627 Indian account holders in HSBC bank, Geneva in the black money case before the Supreme Court which asked a Special Investigation Team to go through the list and take appropriate action in accordance with law.
Indian banks are facing restrictions in opening new branches in the US, Finance Minister P Chidambaram told the Rajya Sabha on Tuesday.
China's opening up of its banking sector to foreign competition has not brought cheers for the Indian banks as overseas banks seeking entry into the country must bring in 200 million yuan.
Govt agrees to guaranteed returns if staff pay more premium; CITU stonewalls proposal.
British bank Barclays Plc could jump into the league of top three foreign banks in India from 13 at present if it succeeds in merging its Dutch rival ABN Amro with itself in a deal that could create a combined entity worth $160 billion.
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