Collateral stocks sold at huge losses as defaults mount.
Ram Jethmalani has urged the Narendra Modi government to refer the long-pending Sino-India border dispute to the International Court of Justice for a decision.
The likely relaxation, however, will not apply to foreign banks.
Already the largest foreign bank in India, Standard Chartered has sought the Reserve Bank of India's permission to open 100 rural branches, which are in addition to its annual plan of 40 new branches and 300 ATMs this year, which it has submitted to RBI for approval. The bank, which now has 83 branches in 33 cities in the country, has announced that it is investing $250 million to take its total capital base in India to $1.9 billion.
On February 22, 2013, the Reserve Bank of India issued guidelines on 'Licensing of New Banks in the Private Sector'.
An early action to allow domestic banks to participate in the commodity markets would not only help in improving their competency but would also help in develop their trading and product development skills in commodity derivatives.
As yields rise, bond prices fall. Higher yields not only translate into losses for investors, it also pushes up borrowing cost for companies as well as government
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.
Year-to-date, the rupee is the worst-performing currency in Asia, weakening 4.184 per cent against the US dollar.
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.
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.
Reliance Jio to take over mobile business assets of troubled RCom at an estimated value of Rs 24,000-Rs 25,000 crore.
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.
Finance Minister P Chidambaram asked Britain on Thursday to allow Indian banks to open more branches in that country.
Standard Chartered Bank is expected to seal the deal of its Mutual Fund business in the near future.
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.
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.
Encouraged by the huge opportunities offered by the booming Indian market, UAE banks are looking at Asia's second-fastest growing economy for expansion.
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.
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.
This is the second all-India bank strike in as many months.
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 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.
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
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 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.
'The banking sector appears to be on course to recovery,' declares the RBI governor.
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.
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.
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.
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