The a/c holder will have to mention the date of opening of foreign a/c.
Tag for defaults on nearly Rs 7,000 cr loans to long-grounded Kingfisher Airlines
The consortium led by SBI has also initiated the process of recovery.
Bankers on Tuesday said the RBI's decision to hold key rates, coming after a decisive mandate received by the Narendra Modi government, was on expected lines and interest rates won't change even though the central bank's SLR cut infuses additional liquidity into the system.
In similarly-worded notices of attachment dated October 17, Sebi asked 11 banks, including ICICI Bank, Bank of Baroda, HDFC Bank, IDBI Bank, Indian Overseas Bank and Standard Chartered Bank, to attach the accounts of the three individuals.
A few state-owned banks such as IDBI Bank, Union Bank, Indian Overseas Bank have announced results for FY14.
Telecom operator Reliance Jio Infocomm has arranged credit facilities worth $1.5 billion with lenders, including Bank of America and Barclays, to refinance existing loans.
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
My NPAs are reducing and recovery is going up. This will help us to augment our revenue, says R Subramaniakumar of IOB.
Mixed global cues and decline in crude oil prices further dent the sentiments.
In a surprise move, the Reserve Bank on Wednesday left the repo rate unchanged at 7.75 per cent, while the cash reserve ratio too is retained at 4 per cent.
The billionaire jeweller, who has fled the country, in the letter also disagreed with the loan default amount of Rs 11,400 crore and pegged the amount his companies owe to the bank at under Rs 5,000 crore.
Asset quality stress has ballooned recently, as growth slowed and interest rates continued to rise.
As a nationwide strike of trade unions hit banking and other services on Wednesday, business chambers pegged the loss to the economy at a staggering Rs 25,000 crore and said such "disruptive" actions can hit India's image as an attractive business destination.
12 out of 21 public sector banks reported declines in their loan books in the last financial year against seven such banks in 2015-16 and none in 2013-14.
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After scrapping the selection of six UPA-appointed bank chiefs, the government has now decided to make significant changes to the selection process.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
Subramanian Swamy said if income tax is abolished, middle class will deposit money in banks which can be invested in manufacturing.
Mergers to create at most six state banks
Bank of India, Canara Bank, Dena Bank, Corporation Bank and Andhra Bank are among the lenders that received capital infusion from the government.
RBI would like to work on examining the regulatory framework for the voluntary withdrawal by the entrepreneur.
A mix of industrialists and businessmen, who have inherited riches or rose from humble backgrounds and even endured boom and bust cycles, the top five MPs are illustrative of how the political stock of the wealthy is increasing rapidly.
Bharti Airtel , RCom and Tata Communications ended down between 0.1-1%.
The fair market value of an immovable property will be higher from the acquisition cost.
The S&P BSE Sensex closed 318 points at 24,455 and the Nifty50 shed 99 points to end at 7,438.
The government may delay Rs 14,000 crore (Rs 140 billion) fund infusion in the public sector banks in view of volatile market conditions.
The S&P BSE Sensex dropped 1 points to end at 26,396 and the Nifty50 slipped 2 points to end at 8,109.
Mundra fills the vacancy created by the retirement of KC Chakrabarty in April, two months before his five-year tenure was come to an end.
Noting that tax evasion is not a criminal offence in Switzerland, a senior Swiss official has acknowledged differences with India on what can be made public about Indians having unaccounted money parked in Swiss banks.
Eleven years on, while 80% of scam-hit investors have been fully compensated, more than 50% of the sum is yet to be distributed.
Broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.8%-1%.
This was among the few times that TCS had to deploy rapid application development mode, which means changes in the application happen on-the-go.
Undisclosed overseas assets such as immovable property, jewellery, shares and art works will be valued at fair market price for the purpose of tax and penalty under the new black money law.
Of the 700-odd Indians having foreign bank accounts, not all can be deemed to be operating these illegally.
Participants are keenly waiting for the January IIP.
Banks are seeking an order that Mallya should appear in person before the court.
Asian shares ended higher after a string of positive US economic data.
Meet to review progress on lending, impact of recent rate cuts and what is being done on NPAs, among other things
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
Some lenders in talks with LIC for pvt placement
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