In a move that could boost the cash-starved infrastructure sector, the Cabinet Committee on Economic Affairs on Tuesday gave its clearance for infrastructure debt funds (IDFs) to take over existing bank loans.
The Reserve Bank of India kept interest rates unchanged on Monday after cutting them in each of its previous three policy reviews, warning of upward risks to inflation posed by a falling rupee and increases in food prices.
The proposed all women’s bank, slated to be set up by this year, may not land up being a bank manned primarily by women staff or one having only female customers. The bank is likely to recruit eligible candidates in a gender-neutral manner and cater for all customers –men and women, sources said. Mahua Venkatesh reports.
Global banking behemoths HSBC and Standard Chartered, whose employees were today accused of participating in money laundering in the latest sting operation by investigative website Cobrapost, have launched probes into the allegations. HT reports.
With the RBI set to issue new licences to a host of private companies, around 50,000 jobs are likely to be created over the next two years in the sector, say analysts and headhunters. Mahua Venkatesh and Himani Chandna Gurtoo reports.
It could be felicitation time for honest bank executives. The finance ministry has asked Cobrapost to provide details of banking executives who carried out their duty diligently, without compromise. Mahua Ventakesh writes.
Britain will examine whether to break up Royal Bank of Scotland (RBS), finance minister George Osborne said on Wednesday, after acknowledging its re-privatisation remains a long way off.
Swiss banking major UBS has decided to surrender its banking licence in India
Bank customers in India are becoming security conscious with their ATM (automated teller machines) transactions. Instances of change in debit card PIN (personal identification number) numbers by bank customers has risen by more than 100% in the last one year. Sachin Kumar reports.
State Bank of India plans to hire 10,000 officers and employees in the current fiscal to spruce up its operations.
In a major shift in stance, the finance ministry has itself initiated discussions on mergers of public sector banks (PSBs) instead of leaving it to bank boards. Mahua Venkatesh reports.
Capital market regulator Securities and Exchange Board of India (SEBI) today announced a catalogue of measures including simplifying rules and registration procedures for foreign investors aimed at attracting dollars, vital to spin jobs and multiply income in a slowing economy.
Known traditionally for snob value in catering only to wealthy customers, American Express is now looking at the middle-income segment to expand its base in India.
Private sector companies that are in the fray for banking licences seems to be holding off till the last moment to apply.