The State Bank of India Staff Association (SBISA) today deferred the proposed strike on September 1 in Delhi Circle following assurances from the management to consider demands pertaining to

SBI's Delhi circle staff calls off strike

Press Trust of India

Interest spreads of banks are likely to recover in FY07, according to research by ratings agency Crisil. According to the agency's comprehensive review of the Indian banking system, interest

Banks' interest spreads to recover in FY07: Crisil

Business Standard

Former SBI Mutual Fund executives, Ajay Bodke and Rajat Jain, may come under pressure to quit from their respective positions at Stanchart Mutual Fund and Principal PNB Mutual Fund after the Central

Funds back executives named by CBI in KP scam

The Reserve Bank of India (RBI) is seeking to have a greater say in the appointment of directors and CEOs of government-owned banks, as it has in private sector banks. The central bank enjoys

RBI seeks more authority over PSU banks

All commercial banks will have to adopt Basel-II norms from March next year, the Reserve Bank has said in its Annual Report for 2005-06. "All commercial banks in India are required to start

Banks to adopt Basel II norms from Mar '07:RBI

RBI gives in-principle nod to Tata, Prizm, Srei and AGS for rollout

Japan's 7-Eleven eyeing Indian white label ATM space

The troubles for the Indian banking system are likely to increase in the next 12 months due to slow economic growth and sluggish fiscal reforms. However, the situation is likely to improve in the fiscal year ending March 31, 2015, according to a report by Standard & Poor's Ratings Services published today.

Banking sector likely to see revival in FY15: S&P Report

BS Reporter

The Reserve Bank of India (RBI) today directed ailing Pune-based Rupee Co-operative Bank not to allow depositors to withdraw more than Rs 1,000 from savings, current or other deposit account.The directions have been issued from the close of business on February 22, it added. The bank will, without prior approval in writing from RBI, also not be able to grant or renew any loans and advances, make any investment, incur any liability including borrowal of funds and acceptance of fresh deposits. Besides, it won't be allowed to disburse or agree to disburse any payment whether in discharge of its liabilities and obligations or otherwise, enter into any compromise or arrangement and sell, transfer or otherwise dispose of any of its properties or assets, RBI said.RBI, however, clarified that issue of the directions should not be construed as cancellation of banking licence. "Rather, Rupee Co-operative Bank will continue to undertake banking business but with restrictions till its financial po

RBI imposes Rs 1,000 withdrawal limit on Rupee Co-op Bank

The Chennai-based Rs 60,000 crore diversified Shriram Group, has said it would like to set up a new bank, instead of converting one of the non-banking financial companies (NBFCs) to a bank. The group is one of the business conglomerates which has shown interest for banking licence.If the group gets a separate licence from the regulator, then it would run both a bank and NBFC. It may be noted the Reserve Bank of India has said NBFCs will not be allowed to undertake a business that a bank can do.According to industry experts, this will be a major challenge for the Group's aspiration.At present the group has two NBFCs  Shriram Transport Finance Corporation (STFC) and Shriram City Union Finance (SCUF)  which have assets under management (AUM) to the tune of around Rs 50,000 crore and Rs 15,000 crore respectively. These two companies fund businesses, which provides livelihood to the borrowers. Group Director of Shriram Group G S Sundararajan, who was identified by the Group to head the Bank

Shriram Group to enter the fray

South Indian Bank (SIB) is planning to hit the capital market with a follow-on public offer of equity shares to raise about Rs 150 crore to augment its capital base. The premium on shares of Rs

SIB follow-on offer opens on Feb 10

The board of directors of South Indian Bank, which met today, finalised a price band of Rs 60-66 per share for the public offer that opens on February 10, 2006. According to a release issued by

South Indian Bk offer in Rs 60-66 band

Crisil has placed the Rs 700 crore certificate of deposit programme of IndusInd Bank, which has a rating of P1+, under rating watch with developing implications. According to a release issued

Crisil puts IndusInd Bk ratings under watch

State Bank of India (SBI) is planning more overseas acquistions, and some buy-outs were already in the pipeline. Speaking to reporters here today, T S Bhattacharya, managing director of SBI,

SBI planning more global buys: Bhattacharya

ICICI Bank is planning to increase its home loan rates by 50 basis points "anytime before the end of the current fiscal." Speaking to reporters on the sidelines of a conference here, V

ICICI Bk to hike home loan rates by 50bps

Tennis star Sania Mirza will be appointed the brand ambassador by Deutsche Bank, which started its India operations some time back. The announcement is expected soon.

Sania to be Deutsche Bank ambassador

Joseph Ackermann, chairman of Germany-based Deutsche Bank, arrived in India today on a two-day visit - his first after the bank launched retail operations in the country in October. Coinciding

Deutsche Bank chairman on 2-day India visit

Export-Import Bank of India (Exim Bank) raised Yen 23 billion (approximately $&nbsp;168 million) by issuing 5-year Samurai bonds at 62 bps over Yen Libor today. According to a release issued by

Exim Bank raises Yen 23bn via Samurai bonds

Union Bank of India (UBI) has announced its price band for its forthcoming follow-on public issue. 


Union Bk follow-on offer in Rs 100-110 band

Education loans at Rs 8,000 crore, sticky assets touch 6-8 per cent. Students seem to be giving bankers a run for their money, literally. Stung by a growing number of sticky educational loans,

Bankers trip over student loans

The board of directors of Indian Overseas Bank (IOB), which met today, approved a proposal to buy shares of Bharat Overseas Bank (BOBL) held by other shareholders at Rs 155 per share.


IOB to buy BhOB shares at Rs 155/shr

Proposal under review to help banks keep pace with credit growth.


Long-term bank deposits likely to get tax break

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