-
Posted Date : 14-Oct-2011 , 08:10:13 am | Posted By CASANSAAR
The performance of the new State Bank of India Management is under the scanner, given the steep rise in the provisioning levels and the manner in which the country's largest lender handled the Moody's ratings downgrade. Top government officials are blaming the new management comprisin...
Continue Reading... Category : Banking | Comments : 0 | Hits : 318
-
Posted Date : 02-Oct-2011 , 04:36:46 pm | Posted By CASANSAAR
The government plans a whopping Rs 2 lakh crore capital infusion into the state-owned banks spread over 10 years, to help them meet fund requirement and comply with the Basel-III capital adequacy norms. "[Capital infusion is] estimated at Rs 2 lakh crore by 2020 in public sector banks," D K...
Continue Reading... Category : Banking | Comments : 0 | Hits : 280
-
Posted Date : 16-Sep-2011 , 05:39:57 pm | Posted By CASANSAAR
Liberalising the foreign exchange rules, the Reserve Bank today allowed NRIs to hold joint account with Indian residents, a move that would help increase remittances. The central bank has also permitted sale proceeds of foreign investments in India to accrue to NRE/FCNR accounts after tax deduct...
Continue Reading... Category : Banking | Comments : 0 | Hits : 408
-
Posted Date : 09-Sep-2011 , 04:21:33 pm | Posted By CASANSAAR
Country's largest private lender ICICI Bank will recruit up to 6,000 people this fiscal to help its business growth and expansion, a top official said today. "Our business is growing between 18 to 20 per cent and we are also adding branches...its expected that we would hire between five to six t...
Continue Reading... Category : Banking | Comments : 0 | Hits : 967
-
Posted Date : 08-Sep-2011 , 07:48:23 am | Posted By CASANSAAR
Cautioning that the economy is passing through turbulent times, Finance Minister Pranab Mukherjee today asked banks to maintain a strict vigil on the quality of their loan portfolio. "The commitment to moderate levels of inflation has led to higher interest rates. In this environment, banks need to...
Continue Reading... Category : Banking | Comments : 0 | Hits : 296
-
Posted Date : 07-Sep-2011 , 07:22:10 am | Posted By CASANSAAR
It's good news for those thinking of prepaying their home loans to lessen the EMI burden. The Reserve Bank of India (RBI) on Tuesday directed banks not to impose pre-payment charges on floating rate loans, a decision taken at its annual conference on banking ombudsman held on Monday. Banks can, how...
Continue Reading... Category : Banking | Comments : 0 | Hits : 768
-
Posted Date : 05-Sep-2011 , 07:15:39 pm | Posted By CASANSAAR
Parliament on Monday passed a Bill which seeks to transfer powers to the Central Government from the Reserve Bank with regard to SBI subsidiary, State Bank of Hyderabad. The Lok Sabha approved the amendment made by the Rajya Sabha and passed the Bill. Though the Lok Sabha had already passe...
Continue Reading... Category : Banking | Comments : 0 | Hits : 577
-
Posted Date : 30-Aug-2011 , 07:44:23 am | Posted By CASANSAAR
After years of intense lobbying, business houses wanting to set up banks are spotting a ray of hope. The Reserve Bank of India is slowly opening the doors for corporates to enter the highly-regulated industry, but with caution, conditions and caveats. In draft guidelines issued on Monday, the ba...
Continue Reading... Category : Banking | Comments : 0 | Hits : 608
-
Posted Date : 29-Aug-2011 , 07:46:24 am | Posted By CASANSAAR
The government has decided to sanction Rs 2,000 crore to some public sector banks as part of its recapitalisation drive. “We are in the process of sanctioning Rs 2,000 crore to a few public sector banks, but the the disbursement would take place at later date,” official source...
Continue Reading... Category : Banking | Comments : 0 | Hits : 366
-
Posted Date : 27-Aug-2011 , 11:49:54 am | Posted By CASANSAAR
The Reserve Bank of India on Friday said banks can now replenish their automated teller machines (ATMs) with cash by borrowing up to 100 million rupees at one go from the central bank if a banking sector strike or any natural calamity creates a situation where ATMs may run out of cash. "Depending u...
Continue Reading... Category : Banking | Comments : 0 | Hits : 421
-
Posted Date : 26-Aug-2011 , 08:00:30 am | Posted By CASANSAAR
To the embarrassment of the Government, discussion on a SBI subsidiary bill was stalled in the Rajya Sabha today after an error was detected by the Opposition. As the debate was underway, BJP Deputy Leader SS Ahluwlaia pointed that a flaw in State Bank of India (Subsidiary Banks Laws) Amendment Bil...
Continue Reading... Category : Banking | Comments : 0 | Hits : 276
-
Posted Date : 22-Aug-2011 , 01:39:37 pm | Posted By CASANSAAR
Move aimed at speeding up process, checking corruption in funds’ transfer. The Union finance ministry has told all state-owned banks and financial institutions to make payments only electronically from next month. The move is aimed at checking corruption in transfer of funds ...
Continue Reading... Category : Banking | Comments : 0 | Hits : 670
-
Posted Date : 14-Aug-2011 , 04:29:44 pm | Posted By CASANSAAR
The National Payments Corporation of India (NPCI) has said any bank with round-the-clock core banking solution capabilities, with/out ATMs, can now join the national financial switch (NFS) through a sponsor bank. NPCI is an umbrella institution for all the Retail Payments Systems' in the country....
Continue Reading... Category : Banking | Comments : 0 | Hits : 400
-
Posted Date : 12-Aug-2011 , 08:26:32 am | Posted By CASANSAAR
The country's top two banks, State Bank of India (SBI) and ICICI Bank, on Thursday announced 50-basis point increases in their minimum lending rates, or base rates, to 10 per cent. The rate rises are effective from Saturday. The banks had kept their lending rates unchanged since early Jul...
Continue Reading... Category : Banking | Comments : 0 | Hits : 422
-
Posted Date : 12-Aug-2011 , 08:21:48 am | Posted By CASANSAAR
The finance ministry will clear guidelines for new bank permits by next week, potentially setting the stage for the Reserve Bank to roll out licences after a gap of eight years. Once the finance ministry gives its go-ahead, RBI is expected to make the norms public and invite applications for new ...
Continue Reading... Category : Banking | Comments : 0 | Hits : 403
-
Posted Date : 09-Aug-2011 , 09:57:40 pm | Posted By CASANSAAR
Following the announcement in the Annual Policy Statement for the year 2009-10, Reserve Bank of India (RBI) constituted a Working Group on Benchmark Prime Lending Rate (BPLR) to review the present BPLR system and suggest changes to make credit pricing more transparent. Based on the recommendations o...
Continue Reading... Category : Banking | Comments : 0 | Hits : 427
-
Posted Date : 09-Aug-2011 , 09:39:08 pm | Posted By CASANSAAR
The Gross Non-performing Assets (NPA) of Public Sector Banks (PSBs) for the period ending March, 2011 stood at Rs. 71,047 crore. The Gross NPA of State Bank of India for the period ending March, 2011 was Rs. 23,074 crore which constitutes 32% of total Gross NPAs of the PSBs. This infor...
Continue Reading... Category : Banking | Comments : 0 | Hits : 329
-
Posted Date : 05-Aug-2011 , 06:33:27 pm | Posted By CASANSAAR
Concerned over rising Non- performing Assets (NPAs) of public sector lenders, Finance Minister Pranab Mukherjee today said banks must tackle the problem seriously but without choking credit. "NPAs in public sector banks have witnessed an upward trend. I had a meeting with chiefs of these ba...
Continue Reading... Category : Banking | Comments : 0 | Hits : 461
-
Posted Date : 01-Aug-2011 , 09:42:50 pm | Posted By CASANSAAR
Five banks, including Indian Bank, Andhra Bank and Bank of Maharashtra, have raised lending rates by up to 50 basis points in line with other lenders. The hike in interest rates come within a week of the RBI raising its key policy rates by a hefty 50 basis points to check high inflation. With the hi...
Continue Reading... Category : Banking | Comments : 0 | Hits : 489
-
Posted Date : 22-Jul-2011 , 03:00:22 pm | Posted By CASANSAAR
Public sector banks have requested the government to extend the deadline for moving towards the system of technology-based identification of non-performing assets. Banks have asked that the deadline, which was scheduled to expire on September 30, be extended for another six months. Some ban...
Continue Reading... Category : Banking | Comments : 0 | Hits : 666
-
Posted Date : 14-Jul-2011 , 07:03:00 am | Posted By CASANSAAR
As many as three state-owned banks including Oriental Bank of Commerce (OBC) and Indian Bank hiked interest rates by up to 50 basis points. While Indian Bank and Allahabad Bank raised base rate, or minimum lending rate by 25 basis points, OBC and IDBI Bank raised deposit rates by up to 50 basis poin...
Continue Reading... Category : Banking | Comments : 0 | Hits : 486
-
Posted Date : 13-Jul-2011 , 09:42:14 pm | Posted By CASANSAAR
The government is likely to consider merger of State Bank of India Commercial and International Bank Ltd (SBICI) with the country's largest lender SBI at the meeting of Union Cabinet tomorrow. SBICI is a wholly owned subsidiary of SBI and functions as a private sector bank offering the an array of f...
Continue Reading... Category : Banking | Comments : 0 | Hits : 632
-
Posted Date : 13-Jul-2011 , 11:30:06 am | Posted By CASANSAAR
A favourite of many global chief executives and celebrities, the American Express card, or Amex card, now has a competitor in India. HDFC Bank, the second-largest private sector bank in the country, on Tuesday launched 'Infinia' cards for the uber-rich, high net worth community in Ind...
Continue Reading... Category : Banking | Comments : 0 | Hits : 805
-
Posted Date : 09-Jul-2011 , 07:53:00 am | Posted By CASANSAAR
finance minister Pranab Mukherjee has cautioned all state run banks and financial institutions on the downward trend of asset quality. "They (banks) should to exert themselves to devise suitable strategies for containing and rolling back non performing assets," he said. Muk-herjee on Friday, took th...
Continue Reading... Category : Banking | Comments : 0 | Hits : 536
-
Posted Date : 08-Jul-2011 , 10:01:31 pm | Posted By CASANSAAR
Insurance regulator Irda today imposed a fine of Rs 70 lakh on SBI Life Insurance for paying excess commission to the agents in violation of the group insurance guidelines. "Considering the gross and continued nature of the violations, the Authority has come to the conclusion that it is just and pr...
Continue Reading... Category : Banking | Comments : 0 | Hits : 446
-
Posted Date : 08-Jul-2011 , 09:55:25 pm | Posted By CASANSAAR
he Reserve Bank today imposed a penalty Rs 5 lakh on Kolhapur District Central Co-operative Bank for violation of guidelines related to Know Your Customers (KYC) norms and Anti Money Laundering standards. "The RBI has imposed a monetary penalty of Rs 5 lakh on Kolhapur District Central Co-operative...
Continue Reading... Category : Banking | Comments : 0 | Hits : 411
-
Posted Date : 08-Jul-2011 , 09:52:46 pm | Posted By CASANSAAR
Adopting a cautious approach in the wake of Supreme Court asking the U P government to return land to original owners, country's largest lender SBI today said it will not finance real estate projects which are mired in disputes over acquisition of land. "...If in a particular area where there has b...
Continue Reading... Category : Banking | Comments : 0 | Hits : 458
-
Posted Date : 07-Jul-2011 , 05:07:48 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee will review the performance of all public sector banks next month after the release of financial numbers by the lenders for 2010-11 financial year. "We will have a review next month with the Finance Minister ... may be towards the end of May," Department...
Continue Reading... Category : Banking | Comments : 0 | Hits : 430
-
Posted Date : 05-Jul-2011 , 01:40:39 pm | Posted By CASANSAAR
Banking and financial activities have come to a standstill in the Telangana region due to the two-day bandh call given today and tomorrow by various political parties demanding the formation of a separate state of Telangana. According to the All-India Bank Officers Association, banking transactions...
Continue Reading... Category : Banking | Comments : 0 | Hits : 454
-
Posted Date : 02-Jul-2011 , 07:21:42 am | Posted By CASANSAAR
Banks have started hiking interest rates again following the recent Reserve Bank decision to hike key short-term rates by 25 basis points. After Canara Bank, Dena Bank, Indian Overseas Bank, ICICI Bank hiked its lending rates on Friday, making home, auto and personal loans costlier for customers. &...
Continue Reading... Category : Banking | Comments : 0 | Hits : 442
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
