Ratings agency Standard & PoorĆās (S&P) expects the performance of Indian banks to improve only in 2014-15. The agency feels that till then the banking sector would continue to face hurdles, in terms of asset quality and earnings. In 2013-14, the agency expects improvement in the economic growth and corporate performance aided by vario
Tag: Banking
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Indian Bank reduces interest rate on loans
In a company statement, state-run lender Indian Bank said it would reduce base rate by 0.30 per cent to 10.20 per cent from the existing 10.50 per cent, with effect from February 9, 2013. The statement also shows that the bank reduced its Benchmark Prime Lending Rate by 0.25 per cent from the existing 14.75 per cent to 14.50 per cent per annum with effect from February 9,
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Banker stresses on timely nod for projects
Chanda Kochhar, MD and CEO of ICICI Bank stressed on the need to ensure that the projects under implementation get the necessary last mile clearances and linkages so that the assets become productive on schedule. She said this to a leading news agency when asked about banks' exposure to large infrastructure and indus
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RBI, fin min in talks on capital norms for banks
Reports suggest that the union finance ministry is in talks with the Reserve Bank of India (RBI) to relax capital adequacy norms for banks. The finance ministry wants the central bank to relax the norms in line with the recommendations made by the Basel Committee on Banking Supervision
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RBS in talks with YES Bank to sell retail assets
Royal Bank of Scotland (RBS) is in the early stage of discussion with private sector lender YES Bank to sell its India retail assets. The India retail and commercial operations accounted for less than 0.5 per cent of RBS' non-core asse
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RBI may soon release final norms on bank licences
Anand Sinha, Deputy Governor of the Reserve Bank of India (RBI) informed media persons that the central bank would soon release the final guidelines on new banking licences. He said this while speaking to reporters on the sideli
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RBI may soon release final norms on bank licences
Anand Sinha, Deputy Governor of the Reserve Bank of India (RBI) informed media persons that the central bank would soon release the final guidelines on new banking licences. He said this while speaking to reporters on the sideli
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Ministry seeks nod for Rs 120 bn capital infusion
DK Mittal, Secretary, Department of Financial Services (DFS) informed that the finance ministry has sought the formal approval of the cabinet for infusing a total of Rs 12,000 crore capital into various public sector banks (PSBs). The department has already firmed up the list of 12 banks that would get capital support. The funds are likely
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IFC may participate in Religare’s banking foray
Financial services firm Religare, which plans to apply for a new banking licence, may receive equity contribution from the International Finance Corporation (IFC), an arm of the World Bank. Reports suggest that IFC is willing to invest in ReligareĆās proposed banking entity. IFC
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Bank to raise corporate business
Bank of Maharashtra aims to increase the share of corporate sector in its overall business to 50 per cent this financial year from the current 42 per cent