Taking note of non-adherence by some banks to rules on sending confirmation of payments made through the National Electronic Funds Transfer (NEFT) system, the Reserve Bank of India (RBI) has directed lenders to put in place a system for issue of such ..

Taking note of non-adherence by some banks to rules on sending confirmation of payments made through the National Electronic Funds Transfer (NEFT) system, the RBI has directed lenders to put in place a system for issue of such receipts.In a circular, ..

Disallows capital for going to low-yield assets, wants details of priority lending plan this year.The Union finance ministry has asked public sector banks (PSBs) not to invest in low-yielding assets, saying capital should be used judiciously to ensur ..

UBS AG, Switzerland’s biggest bank and a unit of ING Groep NV, started the New Year by selling top-rated covered bonds to cut funding costs while satisfying investor demand for the safest securities.UBS issued euro 1.5 billion ($2 billion) of f ..

If the Basel III guidelines are implemented as per the proposed deadline set by the Reserve Bank of India (RBI), banks will require up to Rs 2.7 lakh crore in fresh capital, says a research by the leading financial services firm Crisil.The report not ..

The Reserve Bank of India (RBI) today announced it would purchase government securities worth Rs 12,000 crore on Friday through open market operations (OMOs) to boost liquidity in the economy."Consistent with the stance of monetary policy and ba ..

The Reserve Bank of India is of the opinion that more than account number portability, customer would be better served by a facility to shift accounts without having to repeat the "know your customer procedure".There have been reports that  ..

India's top seven public sector banks, Life Insurance Corporation of India, and India Infrastructure Company Ltd are planning to join forces to give a fillip to large infrastructure projects.State Bank of India, Punjab National Bank, Bank of Baro ..

A consortium of public sector banks has begun putting out orders for supply of automated teller machines (ATMs)/cash dispensers.Hitherto, these banks placed orders for purchase of ATMs on an individual basis.About 40,000 ATMs are expected to be order ..

NASA kicked off the new year with a pair of probes circling the moon in the latest mission to understand how Earth’s closest neighbour formed.There was no champagne popping in the mission control room at the NASA Jet Propulsion Laboratory when  ..

The RBI sought to end speculative trading seen in the currency market in the November-December period, by announcing measures such as withdrawal of the facility to cancel and rebook forward contracts by resident and foreign institutional investors an ..

 State Bank of India, the country's largest lender, expects the government to inject capital "any time", although it is yet to get a formal commitment on the amount, a senior official said on Friday."We have received formal co ..

State Bank of India (SBI) and Kotak Mahindra Bank today raised interest rates on non-resident deposits.SBI said interest rates on non-resident (external) rupee (NRE) term deposits would be raised by up to 574 basis points across maturities from Janua ..

Banks will have to set aside extra capital for equity investment in financial entities, even if the latter were exempted from capital market exposure norms.The Reserve Bank of India has said such exposure will attract a 125 per cent risk weight or wh ..

 The Reserve Bank will shortly issue Rs 500 notes which will have the rupee symbol. The Rs 500 notes will be of the Mahatma Gandhi-2005 Series bearing the signature of Reserve Bank of India  (RBI) governor D Subbarao and with the year of pr ..

RBI  has said that consolidation in the banking sector would pave the way for stronger financial institutions with the capacity to meet corporate and infrastructure funding needs, and to rescue distressed lenders. However, it has prescribed a &# ..

Declaring 2012 as the ‘National Mathematical Year’ as a tribute to maths wizard Srinivasa Ramanujan, the Prime Minister, Dr Manmohan Singh, has voiced concern over the “badly inadequate” number of competent mathematicians in t ..

Private sector banks have started increasing interest rates on non-resident deposits, barely a week after these rates were deregulated by the Reserve Bank of India (RBI).HDFC Bank, the country’s second-largest private lender, was the first majo ..

The Reserve Bank of India today released the final guidelines for banks wishing to migrate to the internal rating based (IRB) approach for calculating their capital charge for credit risks across asset classes.The 'Implementation of the Internal  ..

The Reserve Bank of India (RBI) on Wednesday said banks could use their excess holdings under the statutory liquidity ratio (SLR) to borrow funds from the marginal standing facility (MSF). Currently, the MSF rate is 9.5 per cent."It has been dec ..