bank of india

West Bengal exhorts financial players to invest in state


August 23rd, 2012 - 6:52 pm ICT by IANS
New Delhi, Aug 23 (IANS) The union urban development ministry and the West Bengal government Thursday exhorted banking and financial institutions to set up their branches at its International ... Read more...

Posted in Business |

Bank strike hits customer services in Karnataka


August 23rd, 2012 - 6:20 pm ICT by IANS
Bangalore, Aug 23 (IANS) Customer services in both state-run and private banks across Karnataka were severely affected for the second consecutive day Thursday as thousands of their employees and ... Read more...

Posted in Business |

SBI favours phasing out of CRR


August 23rd, 2012 - 5:16 pm ICT by IANS
Kolkata, Aug 23 (IANS) The country's largest public sector lender State Bank of India has strongly proposed phasing out of Cash Reserve Ratio (CRR) from the banking system, its ... Read more...

Posted in Business |

926 bank branches to accept advance income tax


August 22nd, 2012 - 8:47 pm ICT by IANS
Mumbai, Aug 22 (IANS) In a bid to make tax filing easier, the Reserve Bank of India (RBI) Wednesday directed 926 branches of public and private sector banks in Mumbai ... Read more...

Posted in Uncategorized |

Reliance Life Insurance in talk with banks for tie-up


August 19th, 2012 - 5:52 pm ICT by IANS
Bangkok, Aug 19 (IANS) The Reliance Life Insurance Company, a unit of the Anil Ambani-led Reliance Capital, is in talks with several public and private sector banks to utilise ... Read more...

Posted in Business |

Coin shortage makes everyday life difficult in West Bengal


August 19th, 2012 - 5:34 pm ICT by IANS
Kolkata, Aug 19 (IANS) School teacher Nandita was surprised when a teenager manning the cash counter at a coffee shop in a private hospital offered her two bubble gums ... Read more...

Posted in Business |

Public sector bank’s non-performing assets not alarming: FM


August 18th, 2012 - 5:30 pm ICT by IANS
New Delhi, Aug 18 (IANS) Finance Minister P. Chidambaram Saturday said non-performing assets (NPAs) of public sector banks (PSBs) have risen marginally in the last fiscal and there ... Read more...

Posted in Business |

UBI to seek Rs.1,000 crore from government


August 16th, 2012 - 7:09 pm ICT by IANS
Kolkata, Aug 16 (IANS) Public sector lender Union Bank of India (UBI) will seek capital investment up to Rs.10 billion from the central government to clock around 18-20 percent growth ... Read more...

Posted in Business |

Customs down Central to emerge champions


August 15th, 2012 - 9:48 pm ICT by IANS
Mumbai, Aug 15 (IANS) Mumbai Customs clinched top honours in the annual Independence Cup Football Tournament organised by the Mumbai District Football Association, Parel Wednesday.In the final, Customs, who finished ... Read more...

Posted in Sports |

Inflation down by 6.87 percent


August 14th, 2012 - 4:33 pm ICT by IANS
New Delhi, Aug 14 (IANS) India's headline inflation fell to 6.87 percent in July from 7.25 percent in the previous month, putting pressure on the Reserve Bank of India to ... Read more...

Posted in Business |

India’s forex reserves rise to $289.15 bn


August 11th, 2012 - 5:30 pm ICT by IANS
Mumbai, Aug 11 (IANS) India's foreign exchange (forex) reserves grew by $502.2 million to $289.15 billion for the week ended Aug 3, 2012, the Reserve Bank of India's (RBI) data ... Read more...

Posted in Business |

Don’t draw unwarranted conclusions, PM tells rating agencies


August 11th, 2012 - 3:38 pm ICT by IANS
New Delhi, Aug 11 (IANS) Prime Minister Manmohan Singh Saturday took international rating agencies to task for cutting India's growth forecast and asserted that the fundamentals of the economy ... Read more...

Posted in Business |

Central Bank plans JV or subsidiary to enter Mozambique


August 10th, 2012 - 8:14 pm ICT by IANS
Kolkata, Aug 10 (IANS) State-run Central Bank of India is planning to form a joint venture with the Punjab National Bank (PNB) or set up a wholly-owned subsidiary to enter ... Read more...

Posted in World |

SBI profit more than doubles to Rs.3,751.56 crore


August 10th, 2012 - 4:13 pm ICT by IANS
Mumbai, Aug 10 (IANS) The country's largest lender State Bank of India (SBI) Friday said its net profit more than doubled to Rs.3,751.56 crore for the quarter ended June ... Read more...

Posted in Business |

Factory output dips by 1.8 percent in June (Roundup)


August 9th, 2012 - 8:23 pm ICT by IANS
New Delhi, Aug 9 (IANS) India's industrial output dropped 1.8 percent in June, the third time in four months, due to a sharp contraction in manufacturing production, government data ... Read more...

Posted in Business |

Textile firms’ loans of Rs.35,000 crore to be restructured


August 8th, 2012 - 9:23 pm ICT by IANS
New Delhi, Aug 8 (IANS) The government has directed public sector banks to restructure loans worth Rs.35,000 crore to textiles firms, which are facing financial problem, Minister of State for ... Read more...

Posted in Business |

ATM with Rs.30 lakh destroyed in fire


August 8th, 2012 - 10:22 am ICT by IANS
Agra, Aug 8 (IANS) A State Bank of India ATM loaded with Rs.30 lakh in cash was destroyed after it caught fire in a Uttar Pradesh town Tuesday night, ... Read more...

Posted in Uncategorized |

Textiles firms seek loan restructuring


August 7th, 2012 - 8:35 pm ICT by IANS
New Delhi, Aug 7 (IANS) Apparel Export Promotion Council (AEPC) Tuesday urged the government to direct banks to restructure loans to textiles industry, which is reeling under Rs.155,809 crore ... Read more...

Posted in Business |

Chidambaram’s efforts will help revive growth: FICCI


August 7th, 2012 - 8:10 pm ICT by IANS
New Delhi, Aug 7 (IANS) Enthused by Finance Minister P. Chidambaram's assurance of fine-tuning policies, industry body FICCI Tuesday said this would help revive economic growth."It is quite obvious ... Read more...

Posted in Business |

Employees Provident Fund approves Reliance-Nippon stake deal


August 7th, 2012 - 6:27 pm ICT by IANS
New Delhi, Aug 7 (IANS) The Employees Provident Fund Organisation (EPFO) Tuesday gave its nod to the 26 percent stake sale by Reliance Capital Asset Management Company to Japan's Nippon ... Read more...

Posted in Business |

Crisil cuts India’s growth forecast to 5.5 percent


August 7th, 2012 - 4:54 pm ICT by IANS
Mumbai, Aug 7 (IANS) Research and ratings agency Crisil Tuesday cut India's economic growth forecast to 5.5 percent for the 2012-13 financial year from its earlier estimate of 6.5 percent, ... Read more...

Posted in Business |

Sensex up 166 points; auto, bank, IT stocks soar


August 7th, 2012 - 3:37 pm ICT by IANS
Mumbai, Aug 7 (IANS) A benchmark index of Indian equities markets was trading 166 points up around 1.30 p.m. Tuesday, on good buying in auto, bank, information technology (IT) ... Read more...

Posted in Business |

Sensex snaps 3-week losing streak; up 359 points (Weekly market review)


August 4th, 2012 - 6:06 pm ICT by IANS
Mumbai, Aug 4 (IANS) Snapping a losing streak of three straight weeks, Indian equities markets benchmark indices gained more than two percent in the weekly trade on the back ... Read more...

Posted in Business |

Indian banks need to raise Rs.1.75 trillion capital by 2018: RBI


August 4th, 2012 - 5:44 pm ICT by IANS
Hyderabad, Aug 4 (IANS) Reserve Bank of India Governor D. Subbarao Saturday said the Indian banks will have to raise an additional capital of Rs.1.6 trillion to Rs.1.75 trillion ... Read more...

Posted in Business |

India’s forex reserves rise by $1.31 billion


August 4th, 2012 - 3:39 pm ICT by IANS
Mumbai, Aug 4 (IANS) India's foreign exchange (forex) reserves grew by $1.31 billion to $288.64 billion for the week ended July 27, 2012, Reserve Bank of India data showed.The forex ... Read more...

Posted in Business |

Four executives held for illegal money transfers in Odisha


August 4th, 2012 - 12:53 pm ICT by IANS
Bhubaneswar, Aug 4 (IANS) Four senior officials of a private financial management company in Odisha have been arrested for their involvement in illegal money circulation in the state, police said ... Read more...

Posted in Uncategorized |

United Bank Q1 net up by 31 percent


August 3rd, 2012 - 7:38 pm ICT by IANS
Kolkata, Aug 3 (IANS) State-run United Bank of India Friday reported a 31.28 percent jump in net profit to Rs.1.72 billion for the quarter ended June 30, 2012, from Rs.1.32 ... Read more...

Posted in Business |

Need to shift from cash to electronic payment: Subbarao


August 3rd, 2012 - 7:35 pm ICT by IANS
Hyderabad, Aug 3 (IANS) Reserve Bank of India Governor D. Subbarao Friday stressed the need for transforming India into a less cash-handling society like other emerging economies through innovation in ... Read more...

Posted in Business |

SBI cuts interest rates on term deposits


August 2nd, 2012 - 5:19 pm ICT by IANS
Mumbai, Aug 2 (IANS) The country's largest lender State Bank of India (SBI) Thursday said it will reduce interest rates on domestic term deposits of five year period or ... Read more...

Posted in Business |

RBI keeps key rates unchanged, cuts SLR by 1 percent (Roundup)


July 31st, 2012 - 9:32 pm ICT by IANS
Mumbai, July 31 (IANS) The Reserve Bank of India (RBI) Tuesday kept key policy rates unchanged for the second time since June saying lowering them would raise inflationary pressure without ... Read more...

Posted in Business |

WIPRO computerises five cooperative banks


July 31st, 2012 - 7:55 pm ICT by IANS
Bangalore, July 31 (IANS) IT bellwether Wipro Ltd Tuesday said it has deployed its core banking solution in five state-run cooperative banks across five country under the National Bank for ... Read more...

Posted in Sci-Tech |

Experts’ views on RBI monetary policy review


July 31st, 2012 - 7:40 pm ICT by IANS
Mumbai, July 31 (IANS) The Reserve Bank of India (RBI) kept key policy rates unchanged in the first quarter review of monetary policy announced Tuesday. Following are the comments from ... Read more...

Posted in Business |

Economic growth will fall below 6 percent: Kaushik Basu


July 31st, 2012 - 6:35 pm ICT by IANS
New Delhi, July 31 (IANS) India's economic growth will fall below 6 percent in the first half of the current fiscal but would pick up thereafter and inflation would moderate ... Read more...

Posted in Business |

Subbarao sees scope to cut rates in 2012


July 31st, 2012 - 6:17 pm ICT by IANS
Mumbai, July 31 (IANS) Reserve Bank of India (RBI) Governor Duvvuri Subbarao Tuesday said persistent high inflation did not allow the central bank to cut interest rates immediately but there ... Read more...

Posted in Business |

RBI cuts SLR by 1 percent


July 31st, 2012 - 5:24 pm ICT by IANS
New Delhi, July 31 (IANS) The Reserve Bank of India (RBI) Tuesday announced a reduction in the statutory liquidity ratio (SLR) from 24 percent to 23 percent with effect from ... Read more...

Posted in Business |

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