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Bankers to strike work for five days in January

Chennai, Dec 20 : Unions in the banking sector have announced five day strike next month to demand early resolution of their wage hike negotiations, said the All India Bank Employees'Association (AIBEA).


SBI cuts fixed deposit interest rates

Chennai, Dec 5 : India's largest lender, State Bank of India (SBI) Friday announced its decision to cut interest rates on fixed deposits below Rs.1 crore of varying maturities.


Employees' stir paralyses banking in western India

Mumbai, Dec 5 : All banking activities were paralysed in western India as over 450,000 staffers went on a strike Friday in the last leg of a four-day nationwide agitation, an official said here.


Bank of America plans expansion in India

New Delhi, Dec 3 : Bank of America chairman and CEO Brian Moynihan Wednesday met Prime Minister Narendra Modi and said the bank will expand its banking activities in India, and its presence in capital markets, particularly in infrastructure and energy sectors.


Axis Bank keen to double its credit card customer base

Chennai, Dec 3 : Private sector Axis Bank is looking at doubling its credit card customer base to three million in three years, a senior official said Wednesday.


Cabinet approves amendments to Regional Rural Banks Act, 1976

New Delhi, Dec.3 : The Union Cabinet has approved the amendments in the Regional Rural Banks (RRBs) Act, 1976.


Cabinet approves changes to Regional Rural Banks Act

New Delhi, Dec 2 : The union cabinet Tuesday approved amendments to a law to strengthen the capital base and financial stability of Regional Rural Banks (RRBs).


Interest rates to remain unchanged, says RBI

Mumbai, Dec.2 : The Reserve Bank of India (RBI) on Tuesday decided to keep interest rates unchanged and to stay focussed on containing inflation.


Bankers strike work in southern states

Chennai, Dec 2 : Banking transactions were hit in the five southern states and the union territories of Puducherry and Lakshadweep Tuesday with around 150,000 bank staff striking work demanding early conclusion of wage revision, said a union leader.


Only 48 percent Indian adults have access to bank account: Survey

New Delhi, Dec 2 : Only 48 percent of Indian adults have access to a bank account, out of which almost half of the accounts lie dormant, a study showed here Tuesday.


High EMIs on loans to remain as RBI keeps lending rates intact

Mumbai, Dec 2 : High interest rates on automobile and house loans will continue as the Reserve Bank of India (RBI) Tuesday decided to keep key interest rates unchanged in its fifth bi-monthly policy review of the current fiscal.


Zonal strike to hit banking this week

Mumbai, Dec 1 : The United Forum of Banking Unions (UFBU) will go ahead with its relay zonal strikes in various parts of India starting Tuesday to press for wage revision, a union leader said Monday.


Mahila Bank targets deposit base of Rs.1,000 crore

Mumbai, Nov 29 : Around a year after its startup the all-woman operated Bhartiya Mahila Bank Saturday said it will target a deposit base of Rs.1,000 crore by the end of the current fiscal.


RBI allows banks to extend loan against long term bonds

Chennai, Nov 27 : The Reserve Bank of India (RBI) Thursday allowed banks to extend loans to individuals against long term bonds issued by them so as to provide liquidity to the retail investors.


RBI issues guidelines for 'niche' or payment banks

Mumbai, Nov 27 : The apex bank Thursday issued final guidelines for setting up of 'niche' or payment banks which will cater to needs of small savings accounts, remittance services, low income households, small businesses and other unorganised sector entities.


Kotak Mahindra Bank to foray into general insurance business

Chennai, Nov 25 : Private sector Kotak Mahindra Bank Ltd Tuesday announced its plans to enter the general insurance segment following the approval from Reserve Bank of India (RBI).


Rs. 30 lakh looted from Mathura bank

Mathura, Nov 21 : Six unidentified armed bandits looted Rs. 30 lakh in broad daylight from a branch of the Syndicate Bank on at Chaumuhan town on the Delhi-Mathura national highway, police said.


Kotak Mahindra Bank, ING Vysya announce merger

Mumbai, Nov 20 : Leading mid-size banks Kotak Mahindra Bank (KMB) and ING Vysya Bank Ltd Thursday announced a merger in an all-stock deal to become the fourth largest private bank in the country after ICICI Bank, HDFC Bank and Axis Bank.


Kotak Mahindra Bank and ING Vysya Bank to merge

Mumbai, Nov 20 : Leading mid-size bank Kotak Mahindra Bank Thursday announced the merger of ING Vysya Bank with it to emerge as the fourth largest private bank in the country after ICICI Bank, HDFC Bank and Axis Bank.


Stake sale in state-run banks an option to infuse capital

Mumbai, Nov 19 : Even as the capital requirement of state-run banks is adequate now, the government must pump in Rs.240,000 crore over the next five years to ensure their health, even as stake sale remains an option, a top central bank official has said.


Chintan wins Deutsche Bank Urban Age Award

New Delhi, Nov 15 : Chintan, a non-government organisation working with waste pickers, was conferred the Deutsche Bank Urban Age Award, 2014, for cleaning the New Delhi railway station, a statement said Saturday.


Process to set up payment banks to begin soon

Mumbai, Nov 13 : The Reserve Bank of India (RBI) will invite applications for setting up of small and payment banks by the end of this month, the apex bank's governor Raghuram Rajan said here Thursday.


Banking operations hit by staff strike

Mumbai/Chennai/New Delhi, Nov 12 : Banking operations across India were hit Wednesday as more than 800,000 employees went on a day's strike to seek a salary hike and other benefits, union leaders said.


Banking operations in India hit by staff strike

Mumbai/Chennai/New Delhi, Nov 12 : Banking operations in India were hit Wednesday as more than 800,000 employees went on a day's strike to seek a salary hike and other benefits, union officials said.


Employees' strike affects Indian banking

Mumbai, Nov 12 : Banking operations were affected all over India Wednesday as over a million bank employees went on a day's strike in support of their various demands, including pay revision, an official said here.


World Bank arm raises Rs.1,000 crore for infra development

Mumbai, Nov 11 : World Bank private sector financing arm, the International Finance Corp. (IFC), Tuesday raised Rs.1,000 crore (USD 163 million) through a 10-year bond to finance infrastructure in India by mobilising international capital markets.


Bankers to strike work Nov 12

Chennai, Nov 10 : With failure of the wage talks in the banking sector, around one million bank employees will go on strike Nov 12 bringing the banking operations to a grinding halt, said a union official.


RBI revises norms for non-banking financial companies

New Delhi, Nov 10 : The Reserve Bank of India (RBI) Monday issued the revised Regulatory Framework for Non-banking Finance Companies (NBFCs), with a view to streamlining the regulations for the sector, an official statement said.


Punjab NRI Commission slaps notice on HDFC Bank for fraud

Chandigarh, Nov 5 : The Punjab Commission for Non-Resident Indians (NRIs) has issued notice to the HDFC Bank after a Britain-based NRI alleged that an amount of Rs.70 lakh was siphoned off from his account allegedly by an official of the private bank, the commission said Wednesday.


'Fill top posts in nationalised banks'

Chennai, Oct 24 : With six major nationalised banks remaining headless and a couple of others without executive directors, the All India Bank Employees' Association (AIBEA) has urged the central government to fill up the vacancies.


Himachal cooperative bank to open more branches

Shimla, Oct 20 : The Himachal Pradesh State Cooperative Bank will open four more branches and nine extension counters this fiscal, Chief Minister Virbhadra Singh said Monday.


SBI's 209 of 225 branches operational in storm-hit Andhra Pradesh

Mumbai, Oct 20 : The State Bank of India announced here Monday that it has restored normal operations in almost all the 225 branches hit by the cyclone Hudhud in Andhra Pradesh.


RBI holds key rates, policy to be inflation-data driven

Mumbai, Oct 1 : In its fourth bi-monthly monetary policy, India's central bank Tuesday kept key interest rates unchanged in a bid to maintain financial and price stability with Governor Raghuram Rajan saying further policy will be contingent on relevant data coming in.


Axis Bank signs MoU with China Development Bank

New Delhi, Sept. 18 : Axis Bank, India's third largest private sector bank, on Thursday signed a Memorandum of Understanding (MoU) with China Development Bank (CDB), one of the largest policy banks in China.


SBI controls half the mobile banking share

Mumbai, Sep 18 : With a whopping 11.5 million (1.15 crore) registered users, State Bank of India (SBI) generates around 50 percent of all mobile banking transactions, RBI data revealed here Thursday.


Jammu and Kashmir Bank makes 312 branches, 189 ATMS operational in valley

Srinagar, Sep 17 : The Jammu and Kashmir Bank Wednesday said it has made 312 branches and 189 automated teller machines (ATMs) functional in the Valley.


SBI's new fixed deposit rates effective from Thursday

New Delhi, Sep 17 : Anticipating a lower credit offtake than what was expected, State Bank of India (SBI) has revised its fixed deposit rates Thursday onwards.


RBI to issue final norms for 'on tap' bank licenses

Mumbai, Sep 16 : The Reserve Bank of India will issue the final guidelines for "on tap" universal banking licences within the current fiscal, it said Tuesday.


RBI governor counsels keeping FII debt limits

Mumbai, Sep 16 : Reserve Bank of India (RBI) Governor Raghuram Rajan Tuesday counselled continuing with limits on overseas investments in debt to curtail the country's reliance on foreign debt.


Axis bank joins ETC implementation plan of road transport and highways ministry

New Delhi, Sept.16 : Indian Highways Management Company Limited (IHMCL), an NHAI promoted company and Axis Bank have signed an agreement for the provision of Central Clearing House (CCH) services and sale of FASTag, for the Electronic Toll Collection (ETC) at the Toll Plazas on the National Highways.


HDFC Bank goes green, sends debit card PIN by SMS

New Delhi, Sep 14 : In a novel green initiative, HDFC Bank has launched a system of sending the personal identification number (PIN) for debit card holders through SMS instead of the usual despatch by post.


Jan Dhan opens 3 crore accounts, collects Rs.1,500 crore

New Delhi, Sep 11 : Banks have collected deposits of close to Rs.1,500 crore under the Jan Dhan scheme, while a survey of unbanked households is expected to complete by mid-October, the government Thursday said.


Lakhsmi Vilas Bank measures employee happiness

Chennai, Sep 11 : Perhaps for the first time in Indian banking history, Lakshmi Vilas Bank is measuring the happiness of its employees with a Happiness Index, said a senior official of the private sector bank.


Lakshmi Vilas Bank targets to double net profit

Chennai, Sep 11 : Doubling the net profit, logging 20 percent business growth, launching credit card, expanding branch and automatic teller machine (ATM) network, and hiring around 400 persons are among the Lakshmi Vilas Bank's plans this year, said a top official here Thursday.


USD 6.5 a unit gas price must for Reliance exploration: Deutsche Bank

New Delhi, Sep 9 : While the stakeholders keenly await the government to notify new prices of natural gas soon, a Deutsche Equity Research report says USD 6.5 per unit is a must for Reliance Industries to profit from deep water discoveries.


ICICI Bank board approves five-for-one stock split

New Delhi, Sep 9 : India's top private sector lender, ICICI Bank's board has approved five-for-one stock split, the company said in a filing in the Bombay Stock Exchange (BSE) Tuesday.


Dena Bank readies forensic audit report

Chennai, Sep 6 : Dena Bank is now monitoring all transactions of over Rs.5 crore online even as the forensic audit of the bank's Malabar Hill branch in Mumbai, involved in the alleged siphoning off of funds, is expected to be ready soon, said a top official.


RBI likely to hold rates in policy review this month: Report

New Delhi, Sep 5 : The Reserve Bank of India (RBI) is expected to hold its key interest rate in its policy review due on Sep 30 and is expected to lower rates from February, a Bank of America (BofA)-Merrill Lynch report said Friday.


Axis Bank once again features in Forbes Asia's FAB 50 list

Mumbai, Sep 4, : Axis Bank which is India's third largest private bank has been featured in Forbes Asia's FAB 50 list of 2014. This is the fourth time that Axis Bank has been featured and is amongst the only two banks in this renowned list.


Indian Bank opens 7.58 lakh Jan Dhan Yojana accounts

Chennai, Aug 30 : Public sector lender Indian Bank Saturday said it has opened 758,000 basic savings bank deposit (BSBD) accounts under the Pradhan Mantri Jan Dhan Yojana.


SBI rationalises home loan interest rates, slabs

Chennai, Aug 26 : The State Bank of India (SBI) Tuesday rationalised its home loan slabs from two to one and brought in one uniform interest rate, the bank said.


Court orders FIR against ICICI CEO Chanda Kochchar

Lucknow, Aug 22 : A court here has asked police to file a case against ICICI bank CEO Chanda Kochchar and the private bank's head of card operations Vinay Valse.


Syndicate Bank bribery case: Accused to be declared absconding

New Delhi, Aug 22 : A court here Friday initiated proceedings to declare as a proclaimed offender an accused in Syndicate Bank bribery case.


Be ready to pay if your ATM withdrawals exceed five a month

Mumbai, Aug 14 : You may have to pay up to Rs.20 for every ATM withdrawal if the number of such transactions from your own bank exceeds five a month, the Reserve Bank of India (RBI) said Thursday.


Frame conduct rules for bank executives: Staff union

Chennai, Aug 2 : A bank union has demanded that the government frame conduct regulations in the wake of top bank executives getting caught in corruption cases and some escaping punishment.


'State Bank of Patiala ready to merge'

By Gyanendra Kumar Keshri, New Delhi, July 30 : One of the five associate banks of the country's top lender, the State Bank of India (SBI), is set to merge with the parent this fiscal. State Bank of Patiala is the most likely suitor, a top banker has said.


India's youngest bank Bandhan to empower women, rural folk

By Sujit Chakraborty, Agartala, July 20 : Innovative microfinance company Bandhan will operate as a bank from October next year and focus on empowering women and rural people, says its chairman and managing director Chandra Shekhar Ghosh.


State-run banks' capital to be raised

New Delhi, July 10 : The capital of state-run banks will be raised through sale of shares to the public, Finance Minister Arun Jaitley announced Thursday while presenting his maiden annual budget.


ICICI Bank launches 'ICICI Bank Unifare Card' in partnership with DMRC

New Delhi, June 25 : ICICI Bank Limited, India's largest private sector bank, and Delhi Metro Rail Corporation (DMRC) Wednesday announced the launch of the 'ICICI Bank Unifare Card', co-branded debit and credit cards in association with MasterCard, offering exceptional value to commuters of Delhi Metro.


Make top executives of government banks accountable: Union

Chennai, June 21 : To reign in the ballooning non-performing assets (NPA) in public sector banks, chairman and managing directors (CMDs) and executive directors (EDs) should be made accountable, a leading bank union has demanded.


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