The 6-member Monetary Policy Committee, headed by Reserve Bank of India Governor Urjit Patel, in its fifth bi-monthly review, kept the repo rate unchanged at 6 per cent and reverse repo at 5.75 per cent.
Unions, which are protesting against FDI in the banking sector, are pressing for various demands.
Banking services across the country were hit on Wednesday by the day-long strike by 10 central trade unions and 14 bank unions, but workers of largest lender SBI and a few other banks stayed off the agitation.
The association also wondered how the brand value of Kingfisher was considered as a collateral while sanctioning a loan, and alleged that even when RBI knew that this was a "deliberate default", no action was taken by the banks.
The Reserve Bank of India (RBI) has sent showcause notices to ICICI Bank, HDFC Bank and Axis Bank, the three private lenders named in the first of three Cobrapost 'sting' cases.
Prime Minister Narendra Modi had announced a relief package of Rs 20 lakh crore or about 10 per cent or GDP last week. However, many of the measures unveiled have been in the form of moves like loan guarantees which do not entail an immediate fiscal cost.
RBI Governor Raghuram Rajan on Tuesday kept the repo rate unchanged 6.50 per cent.
'A loss of seats for the Trinamool in this election will weaken its hold in Bengal, which will not augur well before the assembly election in 2021.'
The most difficult case for the consumer is when your card is cloned and used online.
'We feel there is definitely something murky in the system.' 'Will anyone believe that Nirav Modi will go to a branch and bribe a low-level officer?' 'Just look at the people with whom he had moved around.'
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 pay hike has been made effective from January 1, 2016.
The 50-day window for depositing the old notes in bank accounts and post offices expires on Friday.
According to RBI data, it had 57 employees in India at the end of March 2012.
Axis Bank Managing Director & Chief Executive Officer Shikha Sharma on the new mechanism for non-performing loans, the bank's loan portfolio, industry outlook and the bank's future plans.
The Yes Bank Reconstruction Scheme 2020, shall come into force on March 13, the gazette notification said.
Privatisation or consolidation into half a dozen large banks might not rescue public sector banks from the crisis they find themselves in.
Faced with a nationwide strike by bank employees, the government on assured that proposed outsourcing would be implemented only under a well defined policy.
Industry fears waiver of interest on interest would distort credit culture, may encourage borrowers who can pay to defer repayment.
For protein rich items such as meat and fish, eggs as well as milk and products, the inflation in May slowed compared to last month
Yashwant Sinha explains where the Modi government has gone wrong in its handling of the economy.
Banks have started organising silent demonstration in front of houses of defaulters.
United Bank of India and Andhra Bank employees start organising silent protests.
'Prime Minister Modi stated several times that we shall not let this challenge go away without converting it into an opportunity to undertake systemic reforms.' 'And hasn't that been reiterated in action?'
It is only 'zero-cost' money from FPIs that is keeping the market afloat
On a daily basis, an average cash logistics company transports Rs 5,000-8,000 crore worth of cash nationwide.
To help revive the economy battered by COVID-19, Finance Minister Nirmala Sitharaman on Monday announced a slew of measures, including Rs 1.1 lakh crore credit guarantee scheme for improving health infrastructure, and enhancing the limit under the ECLGS by 50 per cent to Rs 4.5 lakh crore for the MSME sector facing liquidity crunch. Sharing the details of stimulus package, the finance minister said this comprises eight relief measures and other eight measures to support the economic growth. She announced Rs 1.1 lakh crore loan guarantee scheme for COVID-affected sectors, including health sector, which includes guarantee cover for expansion or for new projects. Besides, she said, additional Rs 1.5 lakh crore limit enhancement done for Emergency Credit Line Guarantee Scheme (ECLGS) scheme.
Banking system liquidity will experience transient frictional tightness ahead of the payment of arrears
While a pick-up in summer monsoon rains in recent weeks is expected to cool food inflation, most analysts don't anticipate another rate cut before a new governor is on the job
A large number of public sector bank employees, as a matter of routine, do not "take" promotions so that they are not transferred out of their hometowns. The eastern region is famous for this, but it is a common practice everywhere, says Shyamal Majumdar.
It is to keep labour unions away and make the employees feel important.
The jewellers and companies linked to Nirav Modi and Mehul Choksi had allegedly colluded with PNB officers to obtain fake bank guarantees to get loan from overseas branches of Indian banks including Allahabad Bank, Axis Bank and UCO Bank.
Amidst rising demand from banks that they be allowed to increase user fees and limit free ATMs, RBI Deputy Governor K C Chakrabarty said it is "ridiculous" for a bank to charge its own customers for these services.
The high court imposed various bail conditions on him, including that he shall not tamper with the evidence or influence witnesses, directly or indirectly.
We gave them (Twitter) three months' time. Others have followed, they haven't. Rule 7 of (IT) guidelines says if you don't comply then under Sec 79 you may lose intermediary status and may become liable to other laws including penal laws of the country
Amidst a debate in the government over investment of employees' provident funds in the stock market, former RBI Governor Bimal Jalan cautioned that any such move will have to be backed by a government assurance for making up for losses, if any.
Over 4 mn bank accounts could be dormant, suspects tax department.
In the first of a four-part series, Business Standard takes a look at how a mint in Salboni, West Bengal, is working overtime to print currency notes.
The interest offered is mostly 0.5 to 1 per cent more than what other banks offer. Moreover, customer service and long-term association spanning generations are also other reasons for the popularity.
