Category: Banking

Rs. 1000 cr Syndicate Bank scam: CBI raids 10 locations registers case against bank officers and others

  Newsroom24x7 Desk New Delhi: The Central Bureau of Investigation today conducted raids and mounted a big search oepration at 10 locations including Jaipur, Udaipur and New Delhi which led to recovery of incriminating documents and registered a case against a couple of Syndicate Bank officers, and private persons for causing an alleged loss of

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Indian banks more stable but challenges stay

Newsroom24x7 Desk Mumbai: Capital-raising will be a key theme for Indian banks, as asset-quality pressures gradually stabilise and banks look to revive credit growth in support of a recovering GDP outlook. However, there will be challenges for state-owned banks in particular, given weak core capitalisation and expectations of slow earnings recovery due to high credit

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Masala Bonds Offer India Firms Funding Diversification

Newsroom24x7 Desk Mumbai/Singapore: The opening of a ‘Masala’ bond market, where Indian firms issue bonds offshore in rupee, will provide an opportunity for some larger issuers to diversify funding sources without taking on currency risks, says Fitch Ratings. The ability to diversify funding, according to Fitch, would be credit positive, but in the early stages of

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Government and RBI are taking measures to restore sustainable growth: Raghuram Rajan

Newsroom24x7 Staff Mumbai: Raghuram Rajan, Governor, Reserve Bank of India today underscored the economic problems of the recent past and said they arose because India outgrew its institutions. The Government and the Reserve Bank are both taking measures to restore sustainable growth by building the necessary institutions. The RBI Governor was addressing FIBAC 2015 today.

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RBI imposes Monetary Penalty on Krishna Mercantile Co-operative Bank

Newsroom24x7 Desk Mumbai: The Reserve Bank of India has imposed a monetary penalty of  Rs. 5 lakh on the Krishna Mercantile Co-operative Bank Ltd. of Bhopal. RBI has imposed the fine on Krishna Mercantile Co-operative Bank under powers vested in it under the provisions of Section 47A (1)(b) read with section 46(4) of Banking Regulation Act, 1949 (As Applicable to

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RBI seeks inputs on converting a UCB into a commercial bank

Newsroom24x7 Desk Mumbai: The High Powered Committee on Urban Co-operative Banks (UCBs) has recommended that the business size of Rs 20,000 crore may be the threshold limit beyond which a Urban Cooperative Bank (UCB) is expected to convert itself into a commercial bank. The conversion will not be de jure compulsory. However, the types of

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Equity shares of Bank of Baroda can be acquired through primary market and stock exchanges

Newsroom24x7 Desk Mumbai: The Reserve Bank of India has notified that the aggregate share holdings by Foreign Institutional Investors (FIIs) – Registered Foreign Portfolios Investors (RFPIs), Non Resident Indians (NRIs) and Persons of Indian Origin (PIO) under Portfolio Investment Scheme in Bank of Baroda have gone below the prescribed threshold caution limit under the extant

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Indian Banks Report Card: Challenges for India’s state bank sector despite improving macro

Newsroom24x7 Desk Mumbai/Singapore: The performance of India’s state bank sector remained challenged in FY15 (to end-March 2015), with continued pressure on asset quality and weak capital, according to Fitch Ratings’ Indian Banks Report Card FY15 published on 6 July. Capital needs are likely to increase substantially each year up until FY19. There are few indications

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Sectoral deployment of bank Credit in India: Deceleration in credit growth in all sectors

Newsroom24x7 Staff Mumbai: From the data on sectoral deployment of bank credit collected on a monthly basis from select 46 scheduled commercial banks, it emerges that on a year-on-year (y-o-y) basis, non-food bank credit in India increased by 8.9 per cent in April 2015 but this increase was considerably less as compared with the increase

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RBI will exchange information and seek mutual assistance from Central Bank of Seychelles

Newsroom24x7 Staff New Delhi: The Reserve Bank of India has signed a Memorandum of Understanding (MoU) on “Exchange of information and mutual assistance in banking sector supervision” with Central Bank of Seychelles (CBS). This MoU is obviously, part of the drive to unearth black money and the global war against the menace of money laundering. The MoU

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Outlook stable for India’s EXIM and HUDCO

Newsroom24x7 Desk Singapore/Mumbai: Fitch Ratings has affirmed the ratings of Export-Import Bank of India (EXIM) and Housing and Urban Development Corporation Ltd (HUDCO) at ‘BBB-‘ and described as Stable the Outlooks on the ratings of the two policy institutions. The Key Rating Drivers used by Fitch to affirm the ratings of EXIM and HUDCO are –

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Residential Property Price Index moved up to 172 in Q3:2014-15 from 107 in Q1:2010-11

Newsroom24x7 Desk Mumbai: The Reserve Bank of India has placed on its website, an article titled ‘Recent Trends in Residential Property Prices in India: An exploration using housing loan data’ based on the results of its ‘Residential Asset Price Monitoring Survey’. The salient findings of the survey covering housing loan transactions during Q1: 2009-10 to

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General level of activity in the Indian economy is still very low

Newsroom24x7 Desk Mumbai: Ten months after the formation of the Narendra Modi led Central Government, the members who attended the thirty-eighth meeting of the Technical Advisory Committee (TAC) on monetary policy of Reserve Bank of India last month felt that the general level of activity in the Indian economy is still very low and except for railways and power (transmission and distribution),

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RBI directions for Reporting under FDI Scheme on the e-Biz platform

Newsroom24x7 Mumbai: Reserve Bank of India today issued directions to all Category – I Authorised Dealer Banks and informed them that the financial aspects for using the Virtual Private Network (VPN) accounts obtained from National Informatics Centre (NIC) for accessing the e-Biz portal have now been finalised in consultation with Government of India, Department of Industrial Policy

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