The finance ministry has finalised the top-level reshuffle in public sector banks.
This shortfall could continue to hurt loan growth in 2016-17.
Bankers have read the Reserve Bank of India's (RBI) comments on foreign banks' market share in India as an indication that the promised review of policies on the presence of overseas banks in 2009 is unlikely to yield any greater leeway within which they can operate.
The six banks that have joined the major league are Syndicate Bank, Indian Overseas Bank, UCO Bank, Oriental Bank of Commerce, IDBI Bank and Allahabad Bank.
Global rating agency Fitch has upgraded its support ratings for several Indian banks, including ICICI Bank, HDFC, Punjab National Bank, Canara Bank, Bank of India and IDBI among others.
Less than a month after five financial institutions sold 20 per cent in the National Stock Exchange, a consortium of five stakeholders led by State Bank of India are looking to sell an 11 per cent stake in the exchange.
Indian Overseas Bank has posted a net profit of Rs 1169.52 million for the quarter ended December 31, 2002 as compared to Rs 455.71 million in the quarter ended December 31, 2001.
India will allow three major Singapore banks to set-up wholly owned subsidiaries in the country to boost investments as part of the bilateral comprehensive economic cooperation agreement cleared by the cabinet on Monday.
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.
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 cases were reported by the ICICI Bank.
'The snakes and ladders game will continue till the consolidation process is complete simply because we don't know how bad the scene is, with some of the banks being merged,' says Tamal Bandyopadhyay.
It is difficult to say if the banking sector will see the worst behind it by March 2020, warns Tamal Bandyopadhyay.
The Reserve Bank of India also banned with immediate effect issuance of letters of comfort which, like LoUs, are used by importers to fund their overseas purchases.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
Judge Andrew Henshaw refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that a consortium of 13 Indian banks were entitled to recover funds amounting to nearly $1.55 billion.
Will the Financial Resolution and Deposit Insurance Bill endanger our bank deposits?
Publicly traded banks in India added Rs 1 trillion in bad loans for the quarter ending December 31, 2015.
Chennai-headquartered Indian Overseas Bank has launched a five-year tax saving deposit scheme at an interest rate of 8.15 per cent per annum.
The National Criminal Intelligence Service has warned people of cheats out to make a quick buck by proclaiming they are raising money for tsunami victims.
Central Bank of India's 21.5 per cent assets are either bad or have been restructured.
Leading US-based money changer Western Union on Wednesday announced a strategic tie-up with Indian Overseas Bank to provide money transfer service to Indian diaspora.
That's the government's goal for the Unified Payment Interface by March. Are they close? A P Hota, the man at the helm, answers.
Punjab National Bank has embarked on a five-pronged strategy for improving its financial position to become the 'best bank' in the country.
A series of failed loan recast programmes continues to haunt banks.
A major reshuffle of top executives in 11 PSU banks is on the cards with the chairmen of Allahabad Bank, Corporation Bank, Syndicate Bank, Union Bank of India and Vijaya Bank slated to retire between March-July 2006.
Why doesn't anybody ask the PSU State Bank of India under RTI on how much they are spending on legal fees trying to recover money from me in the UK when I have offered 100 per cent payback in India, asked Mallya.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
The money is expected to be disbursed by the lenders consortium led by SBI after the Jet management submits an operational plan on how it intends to use the money till May 7.
Banks in the tsunami-hit Nagapattinam district have opened 1200 new bank accounts in the last two weeks to enable the victims deposit the relief money distributed by the government.
Public sector banking major Indian Overseas Bank on Wednesday launched an Internet-based online remittance product 'e-Cash Home', providing a fast channel for the United States-based non-resident Indians to remit money back home.
Banks have chosen Chennai-based Integrel Hitech Ltd's Easitax software package as their e-filing solution.\n\n
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