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Banking

Emmbi Polyarns awarded the ‘Best Medium Enterprise’ at D&B-Axis Bank Business Gaurav SME Awards 2011

by NR INDRAN / INT Dun& Bradstreet, the world’s leading provider of global business information, knowledge and insight; and Axis Bank, the third largest private sector bank in India, announced the ‘D&B – Axis BankBusiness Gaurav SME Awards 2011’. The awards felicitated 34 of India’s leading Small and Medium Enterprises of India for their significant […]

Banking

Central Bank of India celebrates ‘Financial Literacy Day’

by NR INDRAN / INT Central Bank of India celebrated Financial Literacy Day in all the branches across the country on the occasion of Children’s Day on 14th Nov. 2011. Central Bank being the pioneering in the field of financial freedom for Indians and was first to inculcate the habit of savings in the masses. […]

Banking

Bank of Baroda – Challenges in imports & exports in current economic scenario

by NR INDRAN / INT Lucknow : State Level Banks Committee was organized by Bank of Baroda at Lucknow. The meeting focused on encouraging exports. Shri R K Bakshi, Executive Director – Bank of Baroda, highlighted the challenges in imports & exports in current economic scenario. He assured that the deliberations in the meeting will […]

Banking

RBI will only intervene to arrest volatility in forex market

The Reserve Bank on Tuesday said it will intervene in the foreign exchange market only to arrest volatility even as the Rupee weakened to 50.71 against a dollar. “We intervene when there is a very strong movement in a particular direction or extreme volatility and the objective is to smooth that volatility and not fix […]

Banking

RBI says, banking sector not facing any stress

The Reserve Bank has said that the Indian banking sector is not facing any stress, though state-owned lenders need capital infusion. RBI Deputy Governor Subir Gokarn told reporters on the sidelines of an ASSOCHAM event in Delhi that there are of course long term issues of capital. If the system is growing at 20 per […]

Banking

Bankers criticise Moody’s downgrading of Indian Banking sector

“Indian banking system is not at risk. The downgrade is not justified at this point of time because it is premature,” HDFC Chairman Deepak Parekh told reporters in Mumbai. He was responding to the decision of the US based ratings firm Moody’s to lower the outlook of the Indian banking system to “negative” from “stable”. […]

Banking

The Chairman of CaixaBank inaugurates the bank’s first representative office in India

by NR INDRAN / INT Mumbai – CaixaBank, the leader inretail banking in Spain and one of the ten largest banks in the Eurozone bystock market capitalisation, today inaugurated its new representative office inNew Delhi (India), which will provide support to the growing operations ofSpanish businesses in the Indian market. The inauguration, held in the […]

Banking

SBI posts 12.35 pc jumps in standalone Q2 profit to Rs 2,810 cr

The country’s largest lender State Bank of India (SBI) on Wednesday posted a 48.60 per cent jump in consolidated net profit to Rs 3,470.43 crore for the July- September quarter of the 2011-12 financial year. The bank’s consolidated net profit stood at Rs 2,363.95 crore in the second quarter last fiscal, SBI said in a […]

Banking

Rupee at 49.28 against US $

The rupee today weakened by 18 paise to trade at Rs 49.28 against the US currency as the dollar strengthened in the overseas markets. The rupee had strengthened by 4 paise to close at Rs 49.11 against the US dollar in the previous session on Friday.

Banking

Validity of cheques, drafts cut to three months

RBI has reduced the duration of validity of cheques and drafts from six months to three months. In a notification, RBI has said that from 1 st of April next year, customers will have to present the cheque and drafts for disbursement of cash with in three months. In its release the RBI has said […]