All posts by banking

SIDBI, Bahrain bank in pact

Reported by | Updated: February 20, 2014

Small Industries Development Bank of India (SIDBI) and Bahrain Development Bank (BDB) signed a MoU under which SIDBI will provide technical assistance and facilitate activities of BDB Group in the areas of risk management and credit appraisal, training of BDB Group officials in SME credit risk appraisal and related areas, in framing a suitable monitoring […]

SBI Tower at GIFT City

Reported by | Updated: February 20, 2014

The State Bank of India will set up a commercial tower spread over 2 lakh sq ft at an estimated investment of Rs 150 c rore at the GIFT City in Ahmedabad. The state government of Gujarat is developing the state-of-the-art Gujarat International Finance Tec-City (GIFT CIty) in the state capital to serve as a […]

ICICI Bank’s ‘Branch on Wheels’ in Raipur

Reported by | Updated: February 20, 2014

ICICI Bank launched ‘Branch on Wheels’ in Chhattisgarh, as part of its financial inclusion plan that aims at providing banking services in villages which are so far devoid of banking facilities. The ‘Branch on Wheels’ is a first of its kind initiative by any private sector bank in India. It was inaugurated at Raipur by […]

UBI blames Infosys for NPAs

Reported by | Updated: February 20, 2014

United Bank of India has publicly blamed deficiencies in Infosys’s Finacle software for failing to identify non-performing assets in its small-loan accounts. However, Infosys dismissed the charge. A recent audit by the Reserve Bank of India has revealed the bank had followed a lax credit-appraisal process, which led to loans turning into NPAs, but the […]

2 Indian companies told to pay up defaults

Reported by | Updated: February 20, 2014

In a precedent-setting ruling, the High Court of Justice, London, ordered two Indian companies – software firm Geodesic and oil and gas exploration firm Shiv-Vani Oil & Natural Gas – to pay $171 million and $84 million respectively, (aggregating to Rs 1,600 crore) to its lenders along with interest by end of February. The two […]

RBS sells unit to BNP Paribas

Reported by | Updated: February 20, 2014

Royal Bank of Scotland Group has sold its equity derivatives and structured products unit to BNP Paribas. The proposed transaction is in line with the strategic repositioning and de-risking of the markets division of the RBS Group as announced in 2013, RBS said in a statement. The bank said it is exiting all structured products […]

Anshu Jain may be replaced

Reported by | Updated: February 20, 2014

Deutsche Bank is considering John Cryan, the former finance chief of UBS , as a potential replacement for co-chief executive Anshu Jain should he be implicated in an ongoing investigation into currency manipulation, according to a German magazine. The supervisory board of Deutsche Bank is discussing who could replace Jain, the former head of investment […]

Indian banks biz abroad improves

Reported by | Updated: February 19, 2014

Indian bank branches operating abroad have shown credit growth of 31.7% at Rs 5.86 lakh crore, or $107.7 billion, in 2012-13, while their deposits grew 45.5% to Rs 3.93 lakh crore, according to Reserve Bank of India (RBI) data. At the same time credit extended by foreign lenders operating in India increased by 27.5% to […]

ING Vysya to open more branches

Reported by | Updated: February 19, 2014

ING Vysya Bank plans to expand its branch network by a quarter within the next three years. The bank would have a focus on rural areas while undertaking the expansion. The bank’s country head for branch banking Brett Morgan said the bank plans to open 40-50 branches every year between 2014 and 2016 as its […]

Citi to open 3 branches in India

Reported by | Updated: February 19, 2014

Citibank India has received RBI approval to open three new branches. This will expand the bank’s presence to 45 branches in 33 locations across the country from the current 42 branches, says Anand Selvakesari, the country business manager for Citibank India. The new branches will be opened over the next couple of months in the […]

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