All posts by banking

Arun Tiwari is CMD, Union Bank of India

Reported by | Updated: December 31, 2013

Union Bank of India today said Arun Tiwari assumed charge as its new chairman & managing director. He succeeds D. Sarkar, who retired from services on 30 November. Tiwari, who has over 30 years of experience, started his banking career with Bank of Baroda and was an executive director at Allahabad Bank prior to his […]

Banking sector risks are worrying, says RBI

Reported by | Updated: December 31, 2013

The Reserve Bank of India has warned that the banking industry in the country faces higher risks because of increasing bad loans and restructuring of debt by stressed corporate borrowers. The high level of inflation also is a cause for concern, the central bank sais in its biannual financial stability report. It said in fact […]

RBI move against Bitcoin

Reported by | Updated: December 30, 2013

The Reserve Bank of India has warned the public against the use of virtual currencies such as Bitcoin, pointing out that users expose themselves to potential financial, legal and security related risks. The public advisory comes after the borderless digital currency has begun to gain widespread acceptance in India. RBI also said that it had […]

Bank of India to launch merchant banking unit

Reported by | Updated: December 30, 2013

Bank of India is planning to enter the merchant banking space and it plans to do so through BOI Shareholding. The bank intends to buy Bombay Stock Exchange’s entire shareholding in the joint venture BOI Shareholding. The bank holds 51% stake in the subsidiary while the balance is held by the exchange.The bank wants to […]

Pradeep Kumar is MD, SBI

Reported by | Updated: December 30, 2013

P. Pradeep Kumar has been appointed managing director and group executive (Corporate Banking) of State Bank of India. He will be in charge of the corporate banking portfolio of the bank. He will hold the position till the end of October 2015. He has been the deputy managing director in chrage of corporate banking and […]

Banks on a branch opening spree

Reported by | Updated: December 30, 2013

Banks in India have opened more than 7,300 branches during calendar year 2013, the highest in the last decade. Canara Bank has set up 723 branches and State Bank of India 627, while ICICI Bank opened 587. One noteworthy feature is that most of these new branches were opened in non-metrocities. Banks maintian that the […]

CBI launches new mobile banking app

Reported by | Updated: December 24, 2013

Central Bank of India has launched a new Mobile Banking application and EMV compliant ‘RuPay’ debit card. Finance minister P Chidamabaram launched the scheme covering 103 branches and 103 ATMs of the bank through video conferencing. Rajeev Rishi, CMD of the bank, said the card would help traders to draw Rs 40,000 a day or […]

Doha Bank obtains India license

Reported by | Updated: December 24, 2013

Doha Bank has been granted licence to commence banking operations in India and has been permitted to open a branch in Mumbai to provide full-scale banking services. Chairman of the bank Sheikh Fahad Bin Mohammad Bin Jabor Al-Thani said in line with the bank’s strategy of expanding operations at the local, regional and international levels, […]

HDFC Bank facilitates online tax payment system

Reported by | Updated: December 24, 2013

HDFC Bank launched an online payment gateway for the Margao Municipal Council. Residents of Margao will now be able to make their house tax payments online in a quick and convenient manner, using any debit card, credit card or netbanking facility. This first-of-its kind initiative in Goa will reduce time spent commuting and queuing up […]

Banking services through Akshaya centers in Kerala

Reported by | Updated: December 24, 2013

Canara Bank is now offering its services through Akshaya centers in Kerala as part of its effort to extend banking services to rural areas. CMD of the bank R.K. Dubey said the project will enable the bank to offer its services at a point nearest to the customer. The Akshaya centers will act as hubs […]

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