New era: After 10 years the RBI has decided to issue licences to private companies again. With some of India's biggest corporate houses in fray, the race is hot. Mahua Venkatesh looks at the factors in play that are likely to decide the final winners.
Finance minister P Chidambaram on Wednesday asked government-owned banks to reduce their base rates, which in turn would help ease lending rates and boost credit growth.
Institutional investors are tripping over themselves to buy so-called peer-to-peer loans offered by a new breed of internet lending companies, a development that could transform the nascent sector into significant player in the credit markets.
The Reserve Bank must tender accountability in order to claim and enjoy autonomy from the government, governor D Subbarao today said.
Global rating agency Fitch today said the 26 applicants for new bank licences in India face tough requirements that are likely to lead to only a limited number receiving licences and developing into substantial banks.
Soon you may never have to shell out more for withdrawing money from the ATM (automated teller machines) of another bank. Sachin Kumar
The Reserve Bank of India (RBI), on Friday, said that the credit information bureaus should use Aadhaar number to check the cases of frauds in the banking sector.
Life Insurance Council (LIC) has advocated that a bank should be allowed to sell products of five different insurance companies. It would soon send a note on this to Insurance Regulatory and Development Authority (IRDA), which is yet to come up with a guideline on bancassurance (refers to selling of insurance policies).
Unfazed by volatile stock markets, insurance behemoth Life Insurance Corp (LIC) plans to to invest Rs. 250,000 crore in both equity and bonds this year.
Tightening their noose on loan defaulters, banks have decided to 'name and shame' the guarantors of such borrowers as well by publishing their photographs and other details in newspapers and at notice boards of bank branches and community centres.
India’s central bank has tabled reforms to the funding practices of non-bank lenders in a move that some observers believe underlines its determination to limit the growth of a shadow-banking system.
The Reserve Bank of India today imposed penalties ranging from Rs. 50 lakh to Rs. 3 crore on 22 banks, including State Bank of India, Canara Bank, Punjab National Bank, Deutsche Bank and Kotak Mahindra for violating customer identification and anti-money laundering rules. HT reports.
The Reserve Bank does not have any target in mind on the number of banking licences to be issued in this round, a senior official of the central bank said today.
Bombay High Court today allowed Madhu Kapur to file an amended petition that seeks to revoke the appointment of three new whole-time directors and questions the modalities by which Yes bank appointed three other directors recently.
In a move to stem the continuing fall of rupee, the RBI tonight came out with a slew of measures including hiking the lending rates for banks and sucking up of Rs.
12,000 crore, to make the currency dearer. Why you should worry | Rupee still undervalued?