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Central Bank to sell 4% stake to LIC for Rs 581 cr

Central Bank to sell 4% stake to LIC for Rs 581 cr

Last Updated: Sunday, July 27, 2014, 11:54

The government has earmarked only Rs 11,200 crore for fund infusion into public sector banks this current fiscal, down from Rs 14,000 crore last fiscal.

CBI registers preliminary inquiry against Adani Group

Last Updated: Thursday, July 24, 2014, 22:57

CBI has begun an inquiry into the alleged inflated credit facility availed from banks by Adani Group by over-invoicing for importing power sector equipment to the tune of Rs 2300 crore.

EU to hit Russian banks over Ukraine: Reports

Last Updated: Thursday, July 24, 2014, 18:19

The European Union may go even further than the United States in hitting Russian banks with sanctions over the Ukraine crisis, curbing their ability to raise funds, reports said on Thursday.

RBI unveils framework for identifying systemically important banks

Last Updated: Tuesday, July 22, 2014, 19:25

To reduce risk of failure of large banks, Reserve Bank on Tuesday released a framework for identifying domestic systemically important banks, which would be required to provide additional equity capital for their risk weighted assets.

Axis Bank Q1 Net up over 18% at Rs 1,667 crore

Last Updated: Tuesday, July 22, 2014, 17:26

Private sector Axis Bank Tuesday reported 18.3 percent growth in net profit at Rs 1,667 crore for the first quarter ended June 2014.

PM Modi set to revamp financial inclusion; to unveil new scheme on August15

Last Updated: Sunday, July 20, 2014, 20:23

PM Modi is set to give a big boost to the ongoing financial inclusion drive by unveiling a comprehensive programme, to be announced at the Red Fort on the Independence Day.

Black money: Switzerland invites India for discussions

Last Updated: Sunday, July 20, 2014, 15:15

As India steps up pressure on Switzerland for details of alleged black money stashed there, Swiss authorities have invited Indian officials to Berne to discuss further cooperation in these matters.

Recapitalisation of PSU banks is on high priority: Jaitley

Last Updated: Saturday, July 19, 2014, 14:48

Finance Minister Arun Jaitley on Saturday said recapitalisation to the tune of Rs 2.4 lakh crore in public sector banks to meet Basel III norms is a 'high priority' item for the government.

Draft Cabinet note for govt stake dilution in SBI next month: Sandhu

Last Updated: Saturday, July 19, 2014, 14:26

Finance Ministry is likely to prepare draft cabinet note for government stake dilution in State Bank of India in August to enable it to raise capital for meeting Basel III norms.

'Small banks will provide big push to financial inclusion'

Last Updated: Friday, July 18, 2014, 18:38

The RBI said payment banks will need to have a minimum capital of Rs 100 crore as against Rs 500 crore required for full-fledged commercial lenders.

Muthoot, Manappuram surge up to 9% on RBI's draft guidelines

Last Updated: Friday, July 18, 2014, 14:00

Shares of non-banking finance companies Muthoot Finance and Manappuram Finance soared as much as 9 percent in morning trade Friday after the Reserve Bank released draft guidelines for licensing of both payments banks and small banks.

RBI issues draft norms for small banks, payment banks

Last Updated: Thursday, July 17, 2014, 19:06

A week after Budget announcement, the Reserve Bank on Thursday issued draft guidelines for setting up of 'local feel' small banks, which will disburse small-ticket loans to farmers and businesses.