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
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.
With barely five days to go before the deadline for submitting applications for new bank licences ends, companies are rushing in to meet rules through a flurry of deals.
Tata Communications Payment Solutionstoday launched the country's first ever network of white label ATMs called 'Indicash'. The company, a wholly-owned subsidiary of Tata Communications, set up the first ATM at Chandrapada in Thane district of Maharashtra today.
The interest-rate regime in Indian banks may finally see some movement.
It may cost Rs.
100-1,200 if you close bank accounts between 15 days and one year from the time of opening it
State Bank of India (SBI) customers will have to pay Rs. 60 per year for getting SMS alerts, a move which is likely to be followed by other public sector lenders.
Banks will need to create a subsidiary or a separate division for conducting wealth management services (WMS) according to the draft guidelines released by the Reserve Bank of India (RBI).
A number of surpise entrants including gold loan company Muthoot Finance and India's postal department — India Post — have joined the Tatas and the Birlas in the race to acquire banking licences.
The RBI today revised the Know Your Customer (KYC) guidelines and reiterated that banks should allot Unique Customer Identification Code (UCIC) to all their customers.
With 26 public and private sector companies applying for bank licences, finance minister P Chidambaram has said that there was no ceiling on the number of entities which can be permitted to operate a bank.
You could call it an election year double bill. The UPA government is set to create hundreds of thousands of jobs in rural areas, and in the process also fulfill its plan for financial inclusion that takes banking to the unbanked. And mobile ATMs are set to buzz around rural India. Mahua Venkatesh reports.