APN News » Finance
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SBI Q4 FY13 net profit down by 19% at Rs32.99bn
May 24, 2013By Our Representative Mumbai : Public sector lender State Bank of India (SBI) net profit declined 19% to Rs. 32.99 billion for the quarter ended March 31, 2013 from Rs. 40.50 billion for the same period previous fiscal. The number has come in higher than IIFL’s expectations of Rs. 37.84 billion. Total income increased to [...]
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Indian Bank Net Profit Down15.4 per cent @ Rs 292.12 crore
May 23, 2013By Sachin Murdeshwar Mumbai : Chennai based, Indian Bank has reported 15.4 per cent fall in net profit at Rs 292.12 crore for the fourth quarter ending March 31, 2013. The city-based public sector bank’s net profit stood at Rs 345.41 crore during the corresponding period of previous year. The drop in net profit is [...]
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FM for plugging regulatory gaps in financial sector
May 23, 2013Amid outcry over Ponzi schemes causing huge losses to common people, Finance Min P Chidambaram has said there are regulatory gaps and efforts are being made to frame a new law to oversee financial sector. “The present arrangements have a number of gap areas, where no regulators are unambiguously in-charge, such as issue of regulatory [...]
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QNB Group gets nod for India subsidiary
May 22, 2013The Qatar National Bank (QNB) Group has announced that it has received all regulatory approvals to establish a fully owned subsidiary under the name of QNB (India) Private Limited, which is expected to commence its operations during the 3rd quarter of 2013. “QNB(India) will take the role of extending consultancy and advisory services in the [...]
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Central Bank of India’s “FIRST WOMEN’S BRANCH” in Madhya Pradesh inaugurated
May 21, 2013Central Bank of India’s first Women’s Branch in the State of Madhya Pradesh, situated at Arera Colony, Bhopal, was inaugurated by Shri M.V. Tanksale, Chairman & Managing Director of the Bank. Addressing a large gathering of customers and citizens on the occasion, Shri Tanksale stated that earlier also the Bank had taken the initiative to [...]
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SIDBI to promote Women Entrepreneurship
May 21, 2013Mumbai : This week, Small Idustries Development Bank of India (SIDBI) has launched a series of residential training programme to train officials of Regional Rural Banks (RRBs), Non Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs), apart from its own select officials. The purpose of the training programmes is to make officials of these [...]
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Exim Bank signs Memorandum of Co-operation with UKTI
May 21, 2013By Our Correspondent Mumbai : Export-Import Bank of India (Exim Bank) and UK Trade and Investment have signed a Memorandum of Co-operation to promote business and investment opportunities and facilitate better co-operation between companies from the two countries. Mr. Nick Baird, Chief Executive, UKTI and Mr. Vikramaditya Ugra, Chief Executive, London Branch of Exim Bank [...]
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Chidambaram for merger of banks to create 2-3 global entities
May 21, 2013Finance Minister P Chidambaram on Monday favoured mergers in the banking industry so that India can have two-three global sized banks. “There are other sectors that may well need restructuring …. For example, some banks, including some public sector banks among 26 public sector banks that we have, may be better off merging”. “The need [...]
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IL&FS signs MoU with Industrial and Commercial Bank of China (Asia) Ltd
May 20, 2013By Our Correspondent Mumbai : Infrastructure Leasing & Financial Services Limited (IL&FS), one of India’s leading infrastructure development and finance conglomerates, signed a Memorandum of Understanding (MOU) with Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia)), one of the leading banks in Hong Kong and also a wholly owned subsidiary of Industrial and [...]
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Central Bank of India launched RuPay Debit Card and Wonder Card
May 14, 2013by Sachin Murdeshwar Central Bank of India has launched RuPay Debit Card and Wonder Card. In a glittering function held here recently. Bank of India launched RuPay Debit Card and Wonder Card. RuPay debit card is the debut card launched by Central Bank of India on RuPay Platform (Swadeshi Platform) under National Payments Corporation of [...]
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