Drawing from a trove of 2.5 million secret files, a group of international journalists has exposed hidden dealings of politicians, con artists and the mega-rich in more than 170 countries, including India.
There is a good news for around 200 million post office saving bank account holders. The Department of Posts has launched a project to provide account holders with ATM facility. Under the project, all post offices throughout the country will be connected through an IT network.
If you have a loan of Rs. 1 crore and above or are planning to apply for one, chances are that your financial portfolio will be under the constant supervision of your bank.
Suggesting a level-playing field for financial sector entities, a government-appointed panel has made a strong pitch for converting State Bank of India (SBI), Life Insurance Corp (LIC) and few other firms into ordinary companies under the Companies Act.
Consumers looking at retirement products for pension planning will have a lot to choose from with a number of life insurance companies planning to launch pension products, following recent guidelines issued by the Insurance Regulatory and Development Authority (IRDA) on pension products.
Avanti Kumar, 48, had a health insurance policy with a public sector general insurance company. While renewing the policy in October 2012, she had to pay about 50% more — rather than Rs. 15,000, she had to pay Rs. 22,000.
The life insurance industry comprising over 20 companies, including the public sector LIC, saw a dip of over 6% in premium income in the last 11 months with Reliance Life recording the steepest fall.
Canara Bank, ICICI Bank, Axis Bank and 10 other lenders to Deccan Chronicle Holdings (DCH) are likely to soon meet soon to decide on their future course of action. The ailing media group, which publishes Deccan Chronicle, Asian Age, Financial Chronicle and Andhra Bhoomi newspapers, has defaulted on loans of about R5,000 crore.
Finance Minister P Chidambaram today said there was a rising demand for opening bank branches and expressed confidence the bankers would respond positively to
it.
Banks, hit by a liquidity crunch, are raising interest rates on fixed deposits (FDs) to meet credit demand in a move that will also help depositors earn more.
Sachin Kumar reports.
Deposits vs loansHDFC Bank has decided to cut its benchmark lending rates by 0.1% with effect from March 30.
Millions of small savers and PPF account holders will earn less on their post office savings schemes, with the government deciding to reduce interest rates on them marginally by 0.10%.
A government-appointed panel on Friday suggested merging the oversight functions of regulators into a single agency, while leaving the banking regulation under the Reserve Bank of India.
HT reports.
RBI on Thursday pooh-poohed money-laundering allegations against three private sector banks — ICICI Bank, HDFC Bank and Axis Bank — saying that a recent sting by Cobrapost involved no real violation of law.
HT reports.
The Reserve Bank of India (RBI) has launched investigation into allegations of money laundering against three private sector banks.