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  • Wednesday, September, 2018| Today's Market | Current Time: 08:32:18

    • Banking

    World Bank approves Country Partnership Framework for India to support its transition to higher middle- income country

    World Bank Board has endorsed an ambitious five-year Country Partnership Framework (CPF) for India, which aligns with New Delhi’s objectives of high, sustainable and inclusive growth. The move is aimed at supporting India’s transition to a higher middle-income country by addressing some of its key development priorities such as resource efficient and inclusive growth, job […]

    Banking

    Banks, financial institutions sign an agreement to speed up resolution of bad loans

    Nearly two dozen Banks and Financial Institutions, including SBI and LIC, have signed the inter-creditor agreement (ICA) framework to speed up the resolution of stressed assets which are under the 500-crore rupee bracket. The framework is part of the Project Sashakt, the report on bad bank drafted and submitted by the committee headed by Non-executive […]

    Banking

    Cabinet approves HDFC Bank’s proposal to raise additional share capital of Rs 24,000 crore

    Union Cabinet today approved the proposal for grant of permission to HDFC Bank to raise additional share capital of up to a maximum of 24,000 crore rupees. The composite foreign shareholding in the Bank will not exceed 74 percent of the enhanced paid-up equity share capital of the bank. Briefing media in New Delhi after […]

    Banking

    MARG ERP Limited partners with ICICI Bank

    New Delhi : Marg ERP limited, a leading Inventory and Accounting software solution company has partnered with ICICI Bank, India’s largest private sector bank by consolidated assets, to offer an integrated payments platform to Micro, Small and Medium Enterprise (MSME) customers, using MARG’s accounting software.   This integration aims to promote ‘Connected Banking’ and enables […]

    Banking

    RBI Governor asks for more powers to oversee PSBs in view of bad loans

    The Reserve Bank needs more powers to oversee Public Sector Banks (PSBs) amid bad loans in state-run lenders. This was stated by RBI Governor Urjit Patel when he appeared before Parliamentary Standing Committee of Finance in New Delhi today. During the meeting, sources said, the governor faced tough questions from lawmakers on bad loans, bank […]

    Banking

    All CSCs across the country will become Business Correspondents of Banks: Shri Piyush Goyal

    Union Minister for Electronics & IT and Law Justice, Shri Ravi Shankar Prasad today launched major services in a conference organized by CSC SPV showcasing the impact and progress made by the Village Level Entrepreneurs (VLEs) in promoting rural Wi-Fi network infrastructure. The services that were launched are:- 5000 Digital Villages in India: Through Wi-Fi […]

    Banking

    Reserve Bank to announce its second bi-monthly Monetary Policy of 2018-19 today

    The Reserve Bank of India (RBI) will announce its second bi-monthly Monetary Policy of 2018-19 in a short while from now. The Monetary Policy Committee, headed by RBI Governor Urjit Patel, held a three-day meeting in Mumbai.   The Markets opened higher with the BSE Sensex rebounding over 69 points in the opening trade today, […]

    Banking

    Top bankers to brief Parliamentary Standing Committee on Finance on mounting NPA, bank frauds

    New Delhi : Top officials of both public and private banks will brief the Parliamentary Standing Committee on Finance in New Delhi today on the issue of mounting Non-Performing Assets (NPAs) and bank frauds. The meeting is being called after the RBI Governor Urjit Patel said, the central bank does not have adequate powers to deal […]

    Banking

    Bank of India Net NPA’s in Q4 down by 2% QoQ

    By Sachin Murdeshwar     Mumbai  : Bank of India announced its audited results for the Q4 and FY 2017-18, following approval by its Board of Directors on May 28, 2018. BUSINESS: Global Business of the Bank stood at Rs.8,96,850 crore as on March 31, 2018 against Rs.933,820 crore as on March 31, 2017. The de-growth […]

    Banking

    CBI arrests four for cheating banks to the tune of Rs 2240 cr

    The CBI has arrested four persons including Directors of a Delhi based private

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