Page 1587 - Finance News
Chidambaram to meet heads of PSU banks tomorrow
The broad agenda of the meeting include direct benefit transfer, deteriorating asset quality and credit growth
 "Chidambaram to meet heads of PSU banks tomorrow")
SBI to open 1,200 branches, 8 overseas offices next fiscal
Plans are afoot to open two branches each in Bangladesh, UK, and one each in China, Neatherlands, South Korea, Sri Lanka
 "SBI to open 1,200 branches, 8 overseas offices next fiscal")
RBI likely to cut key policy rates by 0.25% on Mar 19: experts
Narrower Feb tarde deficit, adherence to fiscal deficit target in FY13, slow GDP growtt, fall in core inflation to below 4% for the fist time since Apr 2010
 "RBI likely to cut key policy rates by 0.25% on Mar 19: experts")
China central bank head to spur reforms via tough waters
Zhou Xiaochuan reappointed central bank chief
HDFC Bank appoints Deloitte for forensic probe into allegations
After Cobrapost sting, RBI has asked the three banks - HDFC Bank, ICICI Bank and Axis Bank - to submit details of their findings
 "HDFC Bank appoints Deloitte for forensic probe into allegations")
Pvt banks may be brought under financial inclusion
Unbanked villages scheduled to be covered beyond 2015 will now have to be covered by March 2013
 "Pvt banks may be brought under financial inclusion")
ICICI suspends 18; Axis removes tainted staff from key roles
Other private lenders warn staff of zero tolerance
 "ICICI suspends 18; Axis removes tainted staff from key roles")
Borrowings by banks under LAF to remain high
The situation is expected to improve once government starts spending
 "Borrowings by banks under LAF to remain high")
 "Home loans see near-flat growth in April-January")
Black money exposé hits private bank stocks
ICICI Bank fell 3.9%, HDFC Bank declined 1.1% and Axis Bank dropped 0.90% on Friday
 "Black money exposé hits private bank stocks")
AP grameena bank opens 135 ultra small branches in a day
The bank is also planning to install ATMs at all its branches during the next fiscal
 "AP grameena bank opens 135 ultra small branches in a day")
Black money: pvt banks warn staff of zero tolerance
ICICI Bank reiterated it had been; would conduct its business adhering to high standards of compliance to law, regulations
 "Black money: pvt banks warn staff of zero tolerance")
It's up to RBI to decide on policy rate cut: Rajan
Hints room for more accomodative policy
 "It's up to RBI to decide on policy rate cut: Rajan")
Deutsche Bank sees 25 basis point rate cut next week
However if CAD, inflationary pressure do not abate, research raises concern on future rate cuts
 "Deutsche Bank sees 25 basis point rate cut next week")
Banks advised to issue debit, credit cards with photo
Banks have been advised by RBI to also consider cards with PIN and signature laminated cards or any other advanced methods
 "Banks advised to issue debit, credit cards with photo")
SBI sponsored rural bank opens 135 ultra small branches on a single day
With this, total tally of the bank USBs will cross 400 mark in the current fiscal
 "SBI sponsored rural bank opens 135 ultra small branches on a single day")
Top banks come under black money cloud
Staff caught on camera offering money-laundering solutions in Cobrapost sting; ICICI, HDFC Bank and Axis Bank initiate inquiries; FM steps in to stem panic
Bank borrowing zooms to Rs 1,35,000 cr
This may nudge RBI to cut CRR by 25 bps on Mar 19 to release funds, dealers say
 "Bank borrowing zooms to Rs 1,35,000 cr")
Govt probing money laundering accusations
Goldman Sachs, meanwhile, said the allegations, if proven, could slow growth for private sector lenders in India
 "Govt probing money laundering accusations")