RBI to banks: Compensate customers for cheque clearance delay

Mumbai : In a big relief to the bank customers, the Reserve Bank of India on Monday has asked the banks to compensate them for delay in clearance of local cheques. Banks, as per the RBI directive, will have to pay the compensation at savings bank interest rate in absence of a specified rate, for […]

Govt asks public sector banks to open one account for each family

The government has asked state- owned banks to ensure one account per family to facilitate direct transfer of subsidy under 32 central schemes. In a communication to the public sector banks, the Finance Ministry has asked them to use the latest voter list as a reference for verifying that every household has a bank account. […]

State Bank of India announces Q1FY 2013 results

by NR INDRAN / INT Net Profit increased from Rs.1,583 crores in Q1FY12 to Rs.3752 crores in Q1FY13 (137% YOY growth) • Operating Profit increased from Rs.7,242, crores in Q1FY12 to Rs.8,177 crores in Q1FY13 (12.90%YOY growth). • Capital Adequacy Ratio of the Bank increased from 11.60% (Tier I: 7.60%) in June 11 to 13.17% […]

SBI Q1 profit jumps 137pc to Rs 3,752cr; NPAs cause of concern

Mumbai : State Bank of India (SBI) on Friday reported a 137 per cent jump in net profit at Rs 3,752 crore for the first quarter ended 30th June, 2012, though rising non-performing loans continue to be a cause of concern. The bank had a net profit of Rs 1,583 crore in the April-June quarter […]

American Express Rolls Out Platinum Corporate Card For Top Executives And Owners Of Mid-Sized Companies

New Delhi :  American Express now has a solution for travel managers’ biggest concern – making sure senior executives follow travel policies, while providing them with the premium services that they demand. American Express today announced the launch of its Platinum Corporate Card, which provides an in-depth array of business advantages and personal privileges to […]

RBI signs MoU with Central Bank of Russian Federation

The Reserve Bank has signed a memorandum of understanding (MoU) with the Central Bank of the Russian Federation. RBI in a statement said that the Reserve Bank of India and the Central Bank of the Russian Federation concluded a Memorandum of Understanding (MoU) to promote greater co-operation and sharing of supervisory information between the two […]

Dena Bank gives Dividend to Government of India

CENTRAL BANK OF INDIA revises interest rates upward on NRE time deposits W.E.F. 06.08.2012

by NR INDRAN / INT CENTRAL BANK OF INDIA HAS REVISED INTEREST RATES UPWARD ON NRE TIME DEPOSITS AS UNDER:- DEPOSITS UPTO LESS THAN RS. 15 LAC & DEPOSITS RS. 1 CRORE TO RS. 10 CRORE THE BANK NOW OFFERS INTEREST OF :- 9.25%(TAX FREE) FOR NRE TIME  DEPOSIT OF 1 YEAR TO LESS THAN 3 YEARS. […]

Dena Bank receiving 2nd prize for Rajbhasha Award

Indian banks need over Rs 1.5 lakh cr to meet Basel III norms: RBI

Reducing its stake in public sector banks to below 50 pc is an option before the government to enable them meet capital requirement norms under Basel III, Reserve Bank of India Governor D Subbarao said. He said Indian banks need to raise Rs 1.5 lakh crore to Rs 1.75 lakh crore as capital to meet […]