Page 1046 - Finance News
HDFC Bank cuts lending rate by 0.05%
The bank had last reduced its base rate to 9.35% in September this year
 "HDFC Bank cuts lending rate by 0.05%")
BNP Paribas to acquire 5% in Srei Infrastructure
The deal would give BNP access to a wider infrastructure finance market in India
 "BNP Paribas to acquire 5% in Srei Infrastructure")
Financial inclusion report suggests good time for small players
Payment banks, because of the low cost structure and mobility, are best suited to capitalise on the opportunity
Focus on last mile delivery for inclusion: RBI panel to banks
The panel also said that banks have to make special efforts to step up account opening for women
 "Focus on last mile delivery for inclusion: RBI panel to banks")
Around 340,000 bankers to strike work on January 8
An AIBEA leader said that to protest is the violation of bilateral settlement by the five associate banks of the State Bank of India
 "Around 340,000 bankers to strike work on January 8")
Bank employees to strike on January 8
The strike, set to affect normal services all over the country, is in protest against violation of bilateral settlement by 5 associate banks of SBI
 "Bank employees to strike on January 8")
Bad loans turn worse in 2015; Banks bet on 'rainbow' reforms
Commercial banking industry is also gearing up to face competition from payments and small finance banks
 "Bad loans turn worse in 2015; Banks bet on 'rainbow' reforms")
Deloitte, KPMG, PWC empanelled for RBI's information systems audit
Panel to remain valid for three years, subject to a condition that firms continue to be on panel of approved auditors released by CERT-In team
 "Deloitte, KPMG, PWC empanelled for RBI's information systems audit")
Over 9,500 complaints pending with banking ombudsmen: RBI
A reply to an RTI query reveals 9,508 complaints were pending for resolution
 "Over 9,500 complaints pending with banking ombudsmen: RBI")
Small finance banks in rush to beat deadline
Capital Local Area Bank could be first to start operations by April, a year ahead of the target date
 "Small finance banks in rush to beat deadline")
 "Indian firms enjoyed cheaper funds in 2015")
Forex reserves down $1.4 bn to $351 bn
The rupee saw volatility in the week ended Dec 18. The currency had dropped to about 67 to a dollar
 "Forex reserves down $1.4 bn to $351 bn")
Bhanushali to head tech for Fino's payments bank
He joins the company as vice president for technology
Bank of Baroda picks E&Y to review KYC systems
Appoints strategic advisor for restructuring to help improve profitability
 "Bank of Baroda picks E&Y to review KYC systems")
SBI raises Rs 4,000 crore via tier-II bonds
Shares of SBI were trading at Rs 228.95 apiece on the BSE, down 0.41 per cent from its previous close
 "SBI raises Rs 4,000 crore via tier-II bonds")
Rajan flags concerns over corporate risks
Weak corporate balance sheets need monitoring, says Reserve Bank's Financial Stability Report
 "Rajan flags concerns over corporate risks")
World Bank might support India Post's payments bank
17 other financial bodies eye tie-up with proposed bank
 "World Bank might support India Post's payments bank")
 "Pre-2005 notes can be exchanged till June")
India has to brace for more volatility, currency war
The report warned that the world is heading towards more uncertainties and India, expected to show gradual recovery, should be prepared
 "India has to brace for more volatility, currency war")
Products with post-retirement returns to subscribers needed
The report also explained there is a need to align the investment framework for government employees
 "Products with post-retirement returns to subscribers needed")