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Bankers welcome Raghuram Rajan's successor Urjit Patel

Bankers welcome Raghuram Rajan's successor Urjit Patel

Banking industry captains on Saturday welcomed Urjit R. Patel as Raghuram Rajan`s successor at the Reserve Bank of India (RBI).

Raghuram Rajan wants individual bankers to take onus for large loans

Raghuram Rajan wants individual bankers to take onus for large loans

Reserve Bank Governor Raghuram Rajan on Tuesday said there is a need to shift loan sanctioning process from the present committee-based approach to single banker taking up the responsibility as well as rewarding the person if the project goes on well.

 

Bankers says cheaper money still some time away

Bankers says cheaper money still some time away

Ruling out any immediate transmission of rates despite RBI chief Raghuram Rajan blaming them of passing benefits "only modestly", bankers on Tuesday said interest rates will fall once credit growth picks up.

Bank employees to observe one-day strike on July 29

Bank employees to observe one-day strike on July 29

Public and private sector bank employees have decided to observe a day-long strike on July 29 to oppose the "anti-people" banking reform policies of the Centre, AIBEA said Wednesday.

 

Credibility low as bankers have cried wolf too often: Raghuram Rajan

Credibility low as bankers have cried wolf too often: Raghuram Rajan

Bankers may have a low credibility for having "cried wolf too often", RBI Governor Raghuram Rajan said even as he appeared favouring their case for easing of strict capital control measures to boost growth.

 

Bankers pitch for raising 80C tax deduction limit to Rs 2.5 lakh

Bankers pitch for raising 80C tax deduction limit to Rs 2.5 lakh

Suggestion regarding enhancing limit to Rs 2.5 lakh or Rs 3 lakh under section 80C were made apart from proposal to bring down lock-in period on tax free fixed deposits to one year from 5 years.

Banks using RBI rate cuts to their advantage: Ind-Ra

Since January 2015, the RBI has cut policy rates by a cumulative 125 basis points (bps), while banks have cut one-year deposit rates by an average 130 bps and lending by 50 bps, which includes the base rate cuts in the last one week.

 

Bankers want Centre to pay DBT commission on time: Chanda Kochhar

Bankers on Monday urged Finance Minister Arun Jaitely to release on time the commissions paid to them for Direct Benefit Transfer (DBT) transactions.

Lower inflation ups bankers' hopes for more rate cuts by RBI

Bankers on Thursday said the sharp fall in inflation to 3.78 percent for July has raised hopes of another rate cut by the Reserve Bank at the September review of the policy.

Pressure rising on RBI to cut rate tomorrow

Most bankers and experts believe that the possibility of an interest rate cut by the Reserve Bank on August 4 is very low as retail inflation remains high.

Global equity market deals top $500 billion but banker fees fall

Money raised in global equity capital markets rose in the first half of the year to top USD 500 billion, but bankers` fees fell as secondary share sales supplanted lucrative stock market listings as the dominant deals.

Ahead of FM meet, Yes Bank feels scope of 0.25% rate cut

A day ahead of a meeting between Finance Minister Arun Jaitley and top bankers, private sector lender Yes Bank on Thursday joined its peers in promising to deliver a rate cut soon.

RBI may cut policy rate to spur investment: Bankers

Industry and bankers are hopeful of a rate cut as the government has also been able to rein in fiscal deficit within 4 per cent of GDP in 2014-15 providing room for easing of monetary policy.

Maharashtra finance minister meets bankers to promote PMSBY

Maharashtra Finance Minister Sudhir Mungantiwar Wednesday said that he had taken a review meeting of bankers last week to promote the 'Pradhan Mantri Bima Suraksha Yojana' (PMSBY) which will be launched by Prime Minister Narendra Modi on May 9 along with two other ambitious schemes.

Finance Ministry initiates process of identifying chairmen for PSU banks

The Finance Ministry has initiated the process of identifying persons like retired bureaucrats and bankers who could be appointed as non-executive chairmen of various public sector banks.

Don't outsource loan processing tasks: RBI to bankers

Concerned over the rising number of loan default cases, the Reserve Bank on Monday warned lenders against outsourcing their credit processing activities to third-party entities.

Bankers hint at lowering lending rates

After RBI's second surprise rate cut in as many months, bankers on Wednesday hinted at lowering lending rates, but stressed monetary policy gets transmitted with a lag.

China machinery firms turn bankers, tractor makers as wheezing economy hits profits

Chinese construction machinery makers are opening banks, designing tractors and abandoning core business deals in an effort to diversify and stay profitable as China`s sputtering economy brings a sustained downturn to a once-booming market.

HSBC gets summons from Indian Tax Dept; fears significant fines

HSBC gets summons from Indian Tax Dept; fears significant fines

The bank said it is being probed by tax authorities in many other countries as well with regard to alleged irregularities by its Swiss banking unit and there could be "significant" amounts of fines, penalties and/or forfeitures imposed on it.

HSBC condemns past practices as pressure grows over Swiss accounts

HSBC condemns past practices as pressure grows over Swiss accounts

HSBC has been in the spotlight after the media published allegations based on information supplied by Herve Falciani, a former employee of the bank.