Page 1027 - Finance News

Major push for financial reforms: Rashesh Shah

Says FM has provided much-needed tax incentives for new manufacturing companies and reforms for start-ups

Axis Bank hikes stake in Max Life to 5.99%

The deal values the insurance insurance company at Rs 1,918 cr

Indian Oil Corp buys Russian Urals crude in rare tender : Sources

IOC bought a Urals cargo in April last year for processing at its Panipat refinery in northern India.

Budget is a let-down for banking sector, says banks' union

Banks see no drastic measure in Budget to recover bad loans

Budget 2016: Arun Jaitley moots new commodity products, deeper corporate bond markets

A framework for an electronic platform for repo market in corporate bonds will be developed by RBI

Budget 2016: Jaitley allots Rs.25,000 crore for state-run banks' recapitalisation

As per estimates, PSBs would need additional capital of up to Rs 240,000 crore by 2018 to avoid 2008 US recession like situation

Budget 2016: Govt to amend RBI Act to add monetary policy framework

Under the framework, RBI will be responsible for meeting inflation targets, which the central bank expects to contain at 4%

Budget 2016: Govt moves towards privatisation of IDBI Bank

To bring stake in the bank below 51%; stock shoots up 8%

Publish list of loan defaulters, AIBEA asks Centre

The association said govt should book a criminal case and initiate stringent action against the defaulters

Vinod Rai appointed first Chairman of Banks Board Bureau

To advise top-level appointments at PSBs and ways to address bad loans problem among other issues

Telenor looking to start payments bank this year

Telenor, along with Dilip Shanghvi of Sun Pharma and IDFC, had received RBI's approval to set up payments bank

Yes Bank targets 2.5% market share by 2020, retail big thrust

The bank will launch its credit card services in the first quarter of next fiscal

Room for rate cut by RBI as inflation is low: CEA

Retail inflation for next fiscal expected to be between 4.5-5%, which is below RBI's projection

Karvy to set up housing finance company

Company is looking at setting up a separate housing finance company as the cost of funds that it can tap through the National Housing Board is lower

SBI employees threaten to go on strike on Budget Day

A bank officers' body has threatened to go on strike to protest termination of P V Mohanan, general-secretary of Dhanlaxmi Bank

Stressed PSBs, corporate houses coming in way of complete recovery: Economic Survey

Banks must value their assets, as far as possible, close to the true value, as the Reserve Bank has been emphasising, the Survey said

Andhra Bank to allot 28.8 million shares to LIC on preferential basis

The bank intends to raise an additional equity capital of Rs 136 cr by allotting shares for cash at Rs 47.30 per share to the life insurance company

RBI asks banks to increase provisions in debt-for-equity swaps

Central bank asks lenders to build up over 4 quarters provisions amounting to at least 15% of the loan for SDR

SDR made easier for banks, but provisions rise

The central bank also extended the SDR scheme benefit to ARCs which are members of any Joint Lenders Forum mechanism

House panel raps RBI over NPAs

Moily-led panel says RBI should not be a passive regulator