The Kerala High Court today adjourned a petition filed by Subramanian Swamy, a former Union minister, against the proposed commencement of an Islamic bank with state participation to January 5, for a detailed hearing.
State run lender Union Bank of India inaugurated its representative office in Sydney, Australia, on Wednesday and plans to upgrade its operations through a full-fledged branch or through a subsidiary bank in the country.
Union Road Transport Minister, Mr Kamal Nath, said after a meeting with World Bank President, Mr Robert Zoellick in New Delhi that The Road Transport and Highways Ministry would like to consult World Bank for technical, financial and legal inputs for the identified mega highway projects of the National Highways Authority of India and the proposed… Read More »
UTI Retirement Solutions, the pension arm of UTI Asset Management Company has outshined SBI Pension Fund and Life Insurance Corporation Pension Fund in the National Pension Scheme (NPS) for government employees. Under NPS, employees have to contribute 10% of their basic salary and dearness allowance with a matching contribution from their employers. It is estimated… Read More »
The Life Insurance Corporation of India has awarded Indian Overseas Bank, Coimbatore region, with the ‘Bima Region’ award for excellence in insurance business.
According to Economic Research Report by Macquarie, the Reserve Bank of India(RBI) may hike the Cash Reserve Ratio next month and policy rates by April in view of the rising inflation and excess liquidity in the money markets.
Bank of Baroda will soon be opening a foreign branch in Auckland, New Zealand, through a 100 per cent subsidiary of the banks, according to Mr M.D.Mallya, Chairman and Managing Director.
Union Finance Minister, Mr Pranab Mukherjee, said that the Government cannot allow commercial activities of banks to be supervised by representatives of people. Mr. Mukherjee was speaking in the Lok Sabha.
SBI Cards, one of the largest credit card issuers in the country is moving on to better times. The credit card major saw its non-performing assets (NPAs) fall to 9.77 per cent, as on September 30, against 10.5 per cent at the same time last year. Formerly, the NPA’s had reached an all time high… Read More »
In the near future, banks may be able to do away with the “know your customer” process. This is a possibility once a sizeable chunk of population gets a Unique Identification number. Addressing the press after attending a meeting organised by the Reserve Bank of India (RBI) on Friday on using UID for financial inclusion,… Read More »