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According to ICICI Bank, the unexpected drop in international crude prices is likely to compel the RBI to change its stance from calibrated tightening to neutral.
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The ministry said the Reserve Bank of India (RBI) had permitted banks to fix charges on various services rendered by them, as approved by their boards.
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Most of the banks had already informed their customers about the one-day strike, called by AIBOC, and its impact on their normal banking operations.
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The bank has been improving its impetus on deploying technological solutions for business growth and increasing their digital footprint.
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The strike, by the All India Bank Officers' Confederation (AIBOC), impacted trading volumes in foreign exchange and debt markets, said traders.
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State-run lenders control 70 percent of banking assets, and 11 out of 21 of them are facing lending curbs.
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Latest available data shows that farm related non-performing assets in Madhya Pradesh doubled to 10.6% of advances in a little over three years between 2014-15 and June 2018.
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“There have been instances of financial institutions converting into a bank or promoting one,” said V Vaidyanathan.
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The money will be infused strategically — to support lenders under the Reserve Bank’s PCA regime that have shown improvement and to shore up others that are at risk of slipping into the programme.
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Sources within EY said the firm is looking for more acquisitions in the digital space to fill in the gaps in its digital service bouquet.
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With 7 states writing off farm loans, the amount of waiver could rise to Rs 1.5 lakh cr, pressurising banks.
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The falling rates have weighted on the commercial paper market.
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IIML manages private equity funds, infra debt funds, among others and has assets under management of around Rs 13,340 crore.
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In the previous fortnight ended November 23, credit had risen by 15.09 percent to Rs 91.32 trillion, while deposits surged 9.43 percent to Rs 118.13 trillion.
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The government on Thursday said it will enhance the capital infusion in public sector banks to Rs 83,000 crore, taking the total to Rs 1.06 lakh crore for the fiscal.
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While BoI owns 28.96 percent in the JV, UBI holds 25.10 percent, and Dai-chi is the singel largest shareholder with 45.94 percent stake.
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Both Iffco Tokio General Insurance and Royal Sundaram General Insurance face similar charges of settling lesser amounts than the insured declared value in case of motor vehicle total loss/theft claims.
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Banks may remain closed from December 21 (i.e. tomorrow) till December 26, barring Monday.
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The fund size could go up to $950 million with the firm’s four partners also planning to contribute $50-100 million, the people added.
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LAP clocked a 33% increase in accounts till end-September 2018, while credit cards came in second with a 32% growth rate.
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Despite calls by President Donald Trump for the Federal Reserve to stop raising interest rates, the US central bank on Wednesday raised the key lending rate to a range of 2.25 percent to 2.50 percent.
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The banks will remain closed on December 22 and 23 on account of fourth Saturday and Sunday respectively. December 25 will be national holiday for Christmas.
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The increase was a result of a 28% year-over-year increase in total account volumes accompanied by 5% decline in average balance per account, the report found.
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Besides, the Reserve Bank's decision on Tuesday to increase liquidity infusion by Rs 10,000 crore to Rs 50,000 crore in December buoyed sentiment. The central bank had earlier announced to infuse liquidity amounting to Rs 40,000 crore through the purchase of government securities under open market operations (OMOs) during December.
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Asian Paints, ITC, SBI, Axis Bank, Maruti and Hindustan Unilever were among the top performers on the BSE index, rising as much as 2.01 per cent. On NSE, sub-indices Nifty PSU Bank and FMCG tracked major gains, up as much as 1.67 per cent.
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The merged entity will serve 7.2 million customers through its 203 bank branches, 129 ATMs, 454 rural business correspondent centres across the country’s urban and rural geographies.
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The government has not sought funds from surplus reserves of the Reserve Bank to meet fiscal deficit, minister of state for finance Pon Radhakrishnan has said. The RBI has massive Rs 9.59 lakh crore reserves, and the finance ministry and independent director S Gurumurthy want it to be lowered in line with global practices
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Canara Bank is among the top 5 banks and the position is open to all eligible candidates, including from the private sector.
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Sun Pharma, PowerGrid, Mahindra and Mahindra, Vedanta, Asian Paints and L&T were among the major gainers on the BSE platform with their stocks rising as much as 2.98 per cent. On NSE, sub-indices Nifty PSU Bank and Metal tracked major gains, up as much as 1.26 per cent.
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The Chairman post fell vacant after resignation of Ashok Chawla in November following issues related to probity.
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The resolutions have already been done in a few cases, while they were in an advanced stage in a few others, Gupta said.
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Even as it is projected to overtake China by GDP in the coming year, India jumped 23 spots in the World Bank's Ease of Doing Business rankings.
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Borrowers that are facing challenges in the credit market are finding solace in dollar-denominated loans, even as non-performing debt at local banks, volatile rupee and 2019 national elections add to pressure on financing costs. The downfall of IL&FS group has fueled concerns about default risks, making banks pushing up the cost some firms pay for loans at home.
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The plan will also help telecom companies, banks and financial technology firms, which were worried about massive paperwork after the Supreme Court ordered that Aadhaar could not be mandatory for services other than direct benefit transfer, social welfare schemes or issuing of permanent account number (PAN) by the income tax department.
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Infosys, Wipro, ONGC, HDFC, Yes Bank and TCS were among the major losers on the BSE index, sliding as much 1.94 per cent. On NSE, sub-indices Nifty Metal and IT tracked major losses, down as much as 1.43 per cent.
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In some cases, even the operational creditors’ debt is huge but at present they don’t have a say in the resolution process, a two-judge bench led by Justice RF Nariman said.
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Moving away from the tradition, deputy managing directors (DMDs) of SBI were appointed managing directors in several nationalised banks earlier this year. Now, the government has allowed vice versa, by making EDs eligible to become MDs of SBI.
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The bank in a regulatory filing said that as per the government guidelines for rationalisation of overseas presence, increase in efficiency and profitability of the overseas offices, it will close down branches in Guyana, Trinidad and Tobago and Ghana by June 30, 2019.
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On the BSE index, Tata Motors, PowerGrid, HDFC, Coal India, Vedanta and ICICI Bank were among the major gainers with their stocks surging as much as 4.34 per cent. On NSE, except for Nifty Realty, all other sub-indices ended in green, rising as much as 2.02 per cent.
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The Bhartiya Reserve Bank Note Mudran (P) Limited, a wholly owned subsidiary of the Reserve Bank of India (RBI), claimed that the printing of currency and related activities cannot be shared with people as it will result in "proliferation of counterfeit currency and economic chaos, it observed.
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Fears over reduced autonomy are overblown. The changeover at the RBI could be something else entirely.
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Mastercard said all new Indian transaction data is being stored at its technology centre in Pune as of October 6, as required by an RBI directive.
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The government has proposed to merge three public sector general insurance companies -- National Insurance Company, Oriental Insurance Company and United India Insurance Company.
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ED said on Saturday it has seized assets worth Rs 10.28 crore of Shravan Gupta, former MD of realty major Emaar MGF, in connection with its FEMA probe in the HSBC black money list unearthed a few years ago. The ED said it has seized an agricultural land worth over Rs 10.27 crore in Delhi's Bijwasan area as an equivalent amount of the asset held abroad.
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