Banks general
Panel suggests freedom for public sector banks to employ, fix wages
30 Jun 2010
The committee headed by A K Khandelwal, former chairman of Bank of Baroda, also suggested according `Maharatna' status to the State Bank of India and `Navaratna' or `Miniratna' status to other PSBs on the basis of their strengths.
Bank of America tops magazine ranking of 1,000 banks
30 Jun 2010
The Banker magazine's 2010 ranking of the world's banks places Bank of America on top on the basis of the strength of its capital while Industrial and Commercial Bank of China (ICBC) tops the profit league.
Kotak Mahindra Bank to sell 4.5 per cent stake to Japan's Sumitomo Mitsui
30 Jun 2010
Sumitomo Mitsui Financial Corporation, Japan's third largest bank, is expected to pay Rs1,366 crore ($296 million) for the 4.5 per cent stake.
RBI asks banks to reserve 60 per cent of MSME credit to micro sector
30 Jun 2010
RBI has asked banks to ensure that 40 per cent of the total MSE credit goes to micro units with Rs5 lakh or less investment and 20 per cent to MSEs with investments up to Rs25 lakh.
RBI to launch housing start-up index as construction indicator
30 Jun 2010
The Reserve Bank of India will soon launch a ‘housing start-up index’ to help gauge activity in the construction sector, and in turn help gauge the state of the real estate sector.
SBI sets base rate for lending at 7.5 per cent
29 Jun 2010
Banks, both state-run and private, are expected to operate in a 7.5-8.5 per cent band as they switch from BPLR system to a base rate system from 1 July.
EU to put banks under ‘stress test’ for worst-case scenario
25 Jun 2010
The EU is preparing to put its 25 biggest banks under a ‘stress test’ scenario in a bid to gauge whether their balance sheets are strong enough to cope with another sharp deterioration in the economy.
World Bank to offer access to files under RTI
24 Jun 2010
RBI revises norms for non-convertible debenture issue
23 Jun 2010
Companies should have Rs4 crore minimum net worth and sanctioned working capital limit or term loan by banks or all-India financial institutions to be eligible to issue non-convertible debentures of up to one year maturity.