All posts by banking

UEFA Champions League debit cards from ING Vysya

Reported by | Updated: January 7, 2014

ING Vysya Bank and MasterCard has jointly launched UEFA Champions League themed debit cards. This is the first time that an Indian bank has launched an official UEFA Champions League branded debit card. A series of six new UEFA Champions League themed debit card designs will be added to the existing image gallery of over […]

J&K Bank to increase credit level

Reported by | Updated: January 7, 2014

J&K Bank will continue to stake steps to further improve and increase credit levels to over Rs 25,000 crore from the current Rs 18,000 crore. The bank’s chairman and CEO Mushtaq Ahmad said in next two to three years, the bank’s credit book will increase beyond Rs 25,000. Delivering the inaugural lecture at valedictory function […]

Nepal bank taken over

Reported by | Updated: January 6, 2014

Nepal’s central bank Nepal Rastra Bank (NRB) has taken over the board of directors of Nepal Credit and Commerce (NCC) Bank. The board meeting of NRB decided to suspend the board of of NCC, sensing that serious disputes and problems within the bankĀ“s board could have negative impact on the confidence of public depositors and […]

2-day strike by public sector bank employees

Reported by | Updated: January 6, 2014

Employees of public sector banks and regional rural banks will strike work for two days on 20 and 21 January following a call given by the United Forum of Banks Unions, demanding wage rvision and settlement of several pending issues. The strike is likely to cripple banking operations. The national convener offorum M V Murali […]

New EDs for BoM, OBC

Reported by | Updated: January 6, 2014

R.K. Gupta has assumed charge as ED of Bank of Maharashtra. He was general manager at Dena Bank. He will hold the position for a period of five years. Oriental Bank of Commerce has a new ED, Suresh N. Patel, who has come in the place of V. Kannan, who has moved to Vijaya Bank […]

AIA, Citi in bancassurance tie-up in Asia

Reported by | Updated: January 6, 2014

Hong Kong-based insurer AIA Group has entered into an exclusive deal to sell its insurance products through Citibank’s Asian-Pacific retail branch network. The deal, described as a bancassurance arrangement, is valued at more than US$4 billion over its 15-year lifespan and is one of the biggest of its kind. It will enable AIA access nearly […]

Break up JPMorgan Chase, says Goldman

Reported by | Updated: January 6, 2014

Goldman Sachs says JPMorgan Chase Bank would be worth 25% more if it were split into different units. Goldman wants a complete breakup of the US bank saying the boost in returns from a split would far outweigh the synergies that JPMorgan claims it gets from its current size. In a report, Goldman said JPMorgan […]

Break up JPMorgan Chase, says Goldman

Reported by | Updated: January 6, 2014

Goldman Sachs says JPMorgan Chase Bank would be worth 25% more if it were split into different units. Goldman wants a complete breakup of the US bank saying the boost in returns from a split would far outweigh the synergies that JPMorgan claims it gets from its current size. In a report, Goldman said JPMorgan […]

CCI rejects plea by NDFC against 12 banks

Reported by | Updated: January 6, 2014

The Competition Commission of India (CCI) has rejected charges raised by Muthoot Mercantile against 12 banks of cartelisation in the agri-gold loan business. The company had alleged that the banks had followed anti-competitive practices by giving the same interest rate in the agri-gold loan business. The banks include State Bank of India, Canara Bank, Indian […]

Investec eyes Coutts

Reported by | Updated: January 5, 2014

The Anglo-South African financial services group Investec has joined several international banks eyeing bids for the international arm of Coutts, the wealth management unit of RBS. At least half a dozen parties have expressed interest in buying Coutts International, which has been put up for sale by RBS. Coutts International is expected to change hands […]

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