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ADB trims developing Asia growth forecast; India on track

ADB trims developing Asia growth forecast; India on track

ADB on Monday marginally cut economic growth projection for Asia and Pacific region for 2016, though India is likely to meet 7.4 percent and 7.8 percent growth forecast for this and the following year.

Strike deferred, banks to be open on Tuesday, Wednesday

Strike deferred, banks to be open on Tuesday, Wednesday

Banks will be open and operations normal on Tuesday and Wednesday after a section of the public sector bank employees on Monday deferred their proposed two-day nationwide strike following the intervention of the Delhi High Court.

SBI has enough talent to replace me: Bhattacharya on extension

SBI has enough talent to replace me: Bhattacharya on extension

Amid reports that she may get an extension, State Bank of India (SBI) Chairperson Arundhati Bhattacharya Thursday said there is enough talent within the bank who are capable of holding the reins.

IOB to issue over 9 crore equity shares to raise Rs 261 crore

IOB to issue over 9 crore equity shares to raise Rs 261 crore

Indian Overseas Bank today said it will issue over 9 crore equity shares to qualified institutional buyers (QIBs) to raise about Rs 261 crore.

China's Bank of Tianjin faces $121 million fraud

China's Bank of Tianjin has been defrauded of more than USD 120 million, it said, the third such giant crime against banks in the country this year.

Money can buy happiness if you spend it right

Money can buy happiness if you spend it right

Money can buy happiness, if those purchases fit your personality, says a study, adding it may be strongly linked to greater life satisfaction than your total income and total spending.

Muthoot Microfin to divest 15% stake for 150 crore

Muthoot Pappachen Group firm Muthoot Microfin today said it is looking to divest up to 15 per cent stake to an overseas private equity firm for around Rs 150 crore by the first quarter of the next fiscal

Bank credit grows 11.62%, deposits at 11.02%

Bank credit grows 11.62%, deposits at 11.02%

Bank credit growth continued to remain in double-digits clipping at 11.62 percent year-on-year to Rs 71,72,740 crore for the fortnight ending February 19, according to the Reserve Bank data

Vinod Rai appointed first Chairman of Banks Board Bureau

Vinod Rai appointed first Chairman of Banks Board Bureau

Former CAG Vinod Rai was Sunday appointed first Chairman of the Banks Board Bureau, which will advise the government on top-level appointments at public sector lenders and ways to address the bad loans problem among other issues.

After Roti Bank, 'Kapda Bank' opened in Aurangabad for needy

After launching a ‘Roti Bank’ in Maharachtra's Aurangabad last month, the Haron Mukati Islamic Centre on Tuesday inaugurated a ‘Kapda Bank’ intended to provides clothes to the poorest of poor.

Axis Bank Q3 net grows 15% to Rs 2,175 crore

Axis Bank Q3 net grows 15% to Rs 2,175 crore

Total income of the bank rose to Rs 12,531 crore, from Rs 10,929 crore in the year-ago period.

China-backed AIIB to open for business in mid January

China-backed AIIB to open for business in mid January

China-sponsored Asian Infrastructure Investment Bank (AIIB) in which India is a founder member along with other 56 countries will open in mid-January next year, an official has said.

Dena Bank to seek board approval to dilute govt stake

State-owned Dena Bank Tuesday said it will seek board approval on Thursday to dilute government stake up to 52 percent.

Raghuram Rajan expects banks to clean up bad loans by March 2017

Reserve Bank of India Governor Raghuram Rajan said on Tuesday he expects bad debt-burdened banks to clean up their balance sheets by March 2017, warning the central bank would monitor whether concessions made to lenders were being misused.

Credit, deposits growth decline in Q2: RBI

The growth rate of deposits and credit was 12.3 percent and 9.5 percent, respectively, in the same quarter last year.

Bank credit grows 9.54% to Rs 67,83,127 crore

Schedule commercial banks' credit increased by 9.54 percent to Rs 67,83,127 crore in the fortnight ended October 16, according to RBI data.

IDFC Bank goes live with 'soft launch' of 23 branches

IDFC Bank goes live with 'soft launch' of 23 branches

IDFC Bank Thursday went live with a "soft launch" at 23 locations, including 15 branches in rural Madhya Pradesh, becoming the 91st scheduled commercial bank in the country.

ICICI Lombard in bancassurance tie-up with CSB

The company will able to offer general insurance solutions to the bank's customer base in Kerala, Tamil Nadu, Karnataka and Maharashtra.

Banks to remain closed on 2nd, 4th Saturdays starting September

Bringing cheers to lakhs of bank employees, the government has accepted the long-pending demand of workers to declare second and fourth Saturdays as holidays, with effect from September 1.

RBI grants in-principle approval to 11 cos for payments banks

The Reserve Bank of India (RBI) on Wednesday granted `in-principle` approval to 11 entities, including Reliance Industries, Aditya Birla Nuvo and Department of Posts, to set up non-lending payments banks as part of the financial inclusion drive.