After witnessing continuous decline for the past four years, credit card issuance in India has shown a turnaround. Card issuance by banks and financial institution grew by 11% to 19.6 million in 2012-13 according to the Reserve Bank of India (RBI) data.
The Reserve Bank of India (RBI) has moved to hold senior banking officials directly accountable for violations of supervision lapses under their nose that lead to money laundering and other wrongdoings.
Public sector lender State Bank of India chairman Pratip Chaudhuri today said the lender's margins in overseas business were under pressure. However, NPA levels of the bank in the fourth quarter last fiscal remained low compared to third quarter.
The return of Vikram Pandit to India amid an expected flurry of new licences in the banking sector got a welcome salutetoday, as shares of his partner Nimesh Kampani’s JM Financial surged by 13%.
HT reports.
Do you feel duped after you made any investment or bought a financial product lured by advertisement? Such misleading fine print or advertising copy with incorrect information may soon be a thing of the past. Himani Chandna Gurtoo and Mahua Venkatesh report.
Royal Bank of Scotland says it is cutting 1,400 jobs from its retail banking operations over the next two years.
The Reserve Bank of India (RBI) will launch inflation-indexed bonds (IIBs), beginning June 4, aimed at attracting household savings of up to
Rs. 15,000 crore during 2013-14 and dissuade people from locking up their surplus money in assets such as gold.
The Reserve Bank of India (RBI) and the government could look at reinstating audit system even in “smaller” branches with advances below Rs. 20 crore following rampant violation of know your customer (KYC) norms by banks revealed by investigative website Cobrapost. Mahua Venkatesh reports.
The Reserve Bank of India, which had stepped in after investigative website Cobrapost alleged few executives at private sector lenders Axis Bank, HDFC and ICICI Bank have been indulging in money laundering activities, has found violation of know your customer (KYC) norms by these banks.
ElectraCard Services processes prepaid travel cards for National Bank of Ras Al Khaimah PSC (RAKBANK), one of two Middle Eastern banks named by US prosecutors.
It was a 21st-century bank heist where the criminals didn’t come with Tommy guns, ski masks or screeching getaway cars. There were just a bunch of men walking into ATMs around the world and leaving with backpacks full of cash.
Public sector lender Central Bank of India on Friday announced a net profit of R169 crore for the quarter ended March 31 against a loss of R105 crore in the corresponding quarter of the previous fiscal helped by higher interest income and lower provisions for bad loans.
The Reserve Bank of India (RBI) could look at giving in-principle approval to companies seeking banking licenses, based on their proposals, reports Mahua Venkatesh.
Public sector lender Union Bank of India posted a 2% year-on-year rise in its net profit to Rs. 789 crore for the quarter ended March due to below-than-expected credit growth and pressure on profit margins, from Rs. 773 crore during the corresponding quarter in the previous year
Banks, which have come under scrutiny following allegations of money laundering by investigative portal Cobrapost, have blamed pressure from the government to meet increased deposit and lending growth targets for relaxing know your customer (KYC) norms.