Page 1130 - Finance News
RBI approves ING Vysya-Kotak Mahindra merger
Acquisition will make Kotak Mahindra fourth largest private sector lender in the country, with a total business of Rs 2.25 lakh crore
 "RBI approves ING Vysya-Kotak Mahindra merger")
Central bank scraps ceiling on buyer's credit for project exports
The step has been taken to further liberalising the procedures for export of goods and services
Banking units in IFSC must have capital of at least $20 mn
An International Financial Services Centre is being set up at Gandhinagar, Gujarat as part of an SEZ
 "Banking units in IFSC must have capital of at least $20 mn")
RBI mandates 100% provisioning for fraud cases
The entire amount due to the bank, for which the bank is liable, is to be provided for over a period not exceeding four quarters
 "RBI mandates 100% provisioning for fraud cases")
Bank credit growth likely to fall to 20-year low
Meanwhile, for the fortnight ended March 20, deposits grew 11.42% y-o-y
 "Bank credit growth likely to fall to 20-year low")
 "ICICI Bank to remain open in most states today")
New norms to appoint PSB non-official directors
Any director in non-official capacity will be appointed for up to six years or two terms
 "New norms to appoint PSB non-official directors")
RBI says rupee transactions will not be allowed in international centres
The banking units will also have to follow the same rules applicable to Indian banks
 "RBI says rupee transactions will not be allowed in international centres")
SBI to extend banking hours in Maharashtra on April 4
Banking hours will be extended by two hours on April 4 at branches in Maharashtra
 "SBI to extend banking hours in Maharashtra on April 4")
HDFC Bank raises Rs 3,000 crore via bonds on pvt placement
The Bank's scrip was trading at Rs 1,028.20, up 0.52%, on the BSE in the afternoon
 "HDFC Bank raises Rs 3,000 crore via bonds on pvt placement")
Citi India Chief Economist Rohini Malkani steps down
Economist Anurag Jha will continue to cover India economics research at Citi India
 "Citi India Chief Economist Rohini Malkani steps down")
Catholic Syrian Bank files for up to $64 million IPO
This is the first listing by a local bank in more than four years
 "Catholic Syrian Bank files for up to $64 million IPO")
HSBC Bank Oman completes sale of India assets to Doha Bank
Shareholders of Doha Bank had approved the purchase in December 2014
Call money rates shoot up to 15% intra-day
Banks rush for funds ahead of a series of holidays beginning Wednesday
 "Call money rates shoot up to 15% intra-day")
Loan restructuring shifts to joint lenders' forums
Between July 2014 and February this year, commercial banks formed 355 JLFs for troubled cases
 "Loan restructuring shifts to joint lenders' forums")
 "RBI revises capital adequacy norms")
 "RBI liberalises norms for taking position in exchange-traded currency derivatives")
 "Canara Bank to raise funds from LIC")
 "Run-up to the monetary policy: Fuelling growth, a national priority")