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'Raghuram Rajan being attacked for fighting crony capitalism'

'Raghuram Rajan being attacked for fighting crony capitalism'

Rajan has been under attack from the ruling party BJP's Rajya Sabha MP Subramanian Swamy, among others, for what they term as the RBI Governor's failure to effect necessary interest rate cuts to boost the economy.

Government to crack down on savings scams as PM Modi backs banking for all

Government to crack down on savings scams as PM Modi backs banking for all

New Delhi: India plans legislation to close a regulatory loophole that has made it possible for fraudsters to dupe millions of savers, as Prime Minister Narendra Modi strives to bring the rural poor into the mainstream banking system.

RBI to announce new credit policy tomorrow

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Banks impaired asset ratio to rise to 12.5% by FY17: Ind-Ra

Stressed assets in the banking system is likely to rise to 12.5 percent by the next fiscal against an estimated 12 percent in the current financial year, India Ratings said today.

New banks to complement existing banking system: Chanda Kochhar

New banks to complement existing banking system: Chanda Kochhar

Ruling out any competition to full-service banks from payments and small finance banks, top banker Chanda Kochhar has said they can actually complement the existing banking system and ICICI Bank will explore opportunities for mutually beneficial partnerships.

MP govt gears up to launch financial literacy project in schools

Madhya Pradesh government is all set to launch financial literacy in all higher secondary schools of the state.

Need to check flaws in banking system: Rajan

Need to check flaws in banking system: Rajan

The banking sector is currently struggling with high non performing assets (NPAs).

Stressed assets likely to come down: SBI

Country's biggest lender State Bank of India (SBI) on Friday said stressed assets in the system are likely to see a decline due to reforms in power distribution companies and pick up in rural power demand.

Bank of India says "worst is over" after bad debts jump

Bank of India reported its first quarterly loss in more than two decades on Thursday, weighed down by a larger than expected increase in bad debts, sending its shares down more than 8 percent.

Bonds drop, call rates end slightly higher

Government bonds (G-Secs) dropped further on sustained selling pressure from banks and corporates while the overnight call money rate ended higher at the money market due to good demand from borrowing banks amid tight liquidity in the banking system.

Splitting CMD post of PSBs a dangerous proposition: Assocham

Bifurcation of Chairman and Managing Director's post may not augur well for the public sector banks as it may lead to inefficiencies and bureaucratic hassles rather than improvement, Assocham said in a report.

China's 'real' economy wants to be neither borrower nor lender

Beijing is pushing trillions of yuan into its banking system to boost business investment and arrest slowing growth, but a combination of unwilling borrowers and selective lenders is blunting its efforts.

RBI allows banks to invest in long-term infrastructure bonds

In a bid to boost infrastructure investment, the Reserve Bank on Tuesday allowed banks to invest in long-term infrastructure bonds issued by other 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.

'Inter-connectedness exposes banking system to contagion risk'

The Indian banking system faces a possible contagion risk in case of trouble at one bank given the inter-connectedness between some lenders, the Reserve Bank said Monday.

RBI for closer examination of promoters' share pledging

With banks in India facing deteriorating asset quality, RBI on Monday said certain corporate practices of using multi-layered structures and pledging of shares to raise funds from banking system need to be examined.

Moody's retains negtive outlook on banks for highcorp leverage

International rating agency Moody's Wednesday retained its negative outlook on the domestic banking system, citing high leverage in the corporate sector that may prevent any meaningful recovery in asset quality.

Counterfeiters lapping up Rs 100, 1,000 bills: RBI

The banking system detected over 2.52 lakh pieces of counterfeit notes of Rs 500 denomination in FY14 as against the 2.81 lakh the year before.

Amid fighting Ukraine rebel statelet plans banking system

Even as the fighting rages in east Ukraine, the unrecognised Donetsk People`s Republic says it`s pushing on with ambitious plans to roll out a fully independent financial system within two months.

Set up National Asset Mgmt Co to take over bank NPAs: Ficci

In view of the mounting bad loans of banks, Ficci has suggested setting up of a National Asset Management Company (NAMCO) to take over stressed assets from the banking system for effective recovery and rehabilitation.