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Govt to launch campaign to open workers' bank accounts today

Govt to launch campaign to open workers' bank accounts today

Labour Ministry will launch a campaign in association with Department of Financial services to open bank accounts of workers, who do not have one till date, in the organised as well as unorganised sector on Saturday.

Kotak Mahindra shares end flat

After falling 2 percent to Rs 1,263.75, shares of Kotak finally ended at Rs 1,290.90, up 0.09 percent on the BSE.

Kotak Mahindra Bank shares down 2%

The stock slipped 1.83 percent to Rs 1,266 at the BSE.

FIPB again defers Kotak bank proposal for raising FII limit

The Foreign Investment Promotion Board (FIPB) had taken up the application in its meeting, but the decision was deferred in want of comments from the Department of Financial Services (DFS), sources said.

Loans to small businesses may double to Rs 1lakh cr: Jaitley

Officials from the Department of Financial Services (DFS) updated the Finance Minister on the subsequent steps taken in this regard following the setting up of MUDRA Bank.

Appointment of 5 PSU bank heads: SC seeks Centre's response

The Supreme Court Tuesday sought responses from the Centre and Reserve Bank of India on a PIL challenging the appointment process of heads of five public sector banks and reducing the cut-off age from 58 to 55 years.

Govt renews search for five PSU bank chiefs; norms relaxed

As it continues its search for chiefs at five public sector banks, the government has relaxed eligibility criteria with regard to age and experience of applicants.

Deutsche Bank to pay $2.5 bn fine for interest rate-rigging

Deutsche Bank has agreed to pay a $2.5-billion fine to settle US and British accusations that more than 20 employees engaged in a "widespread effort" to rig benchmark interest rates for profit between 2005 and 2009, officials said on Thursday.

74% accounts in Jan Dhan Yojana are with zero balance

The data provided by Department of Financial Services says that as on November 7, 2014 a total of 7.1 crore bank accounts have been opened of which 5.3 crore were accounts with 'Zero balance'.

Standard Chartered fined $300 mn over laundering controls

New York's banking regulator hit Standard Chartered Bank with a USD 300 million fine and restrictions on its dollar-clearing business Tuesday for inadequate controls on money laundering.

Internal report on SBI graft case misses deadline

An internal panel constituted by the State Bank of India to probe allegations of bribery against its deputy managing director Shyamal Acharya has not submitted its report by the deadline, a senior bank official said Monday.

Rajiv Takru is the new Financial Services Secretary

Senior IAS officer Rajiv Takru on Friday took charge as Secretary in the Department of Financial Services.

Banks should be asked to follow RBI norm on loans to MSEs: Min

The ministry has been talking to Department of Financial Services (DFS) to impress upon banks to provide loans without collateral to such units, Secretary in the Micro, Small and Medium Enterprises (MSME) Ministry Vivek Rae told reporters on the sidelines of a CII function here.