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14 December, 2018 11:37 AM Understanding the Kotak-RBI battle – Letter, spirit, rules and a court petition

We examine the complications and implications – essentially the answer to the question: What is this Kotak’s Natak? Kotak Bank which was built by Uday Kotak was asked by RBI to pare down its promoter stake way back in 2012. THis is normal, as part of RBI norms, to “broadbase� the shareholding and to restrict individuals from holding large stakes 64

13 December, 2018 9:59 AM Jana Small Finance Bank Raises Interest Rates On Term Deposits

Jana Small Finance Bank, a small finance bank, on Thursday announced an increase in its interest rates on term deposits (fixed deposits and recurring deposits). The new interest rates will come into effect from Friday, Jana Small Finance Bank said in a statement. After the revision, Jana Small Finance Bank customers holding FD and RD accounts with the bank will earn interest 29

11 December, 2018 6:29 PM RBI slaps Rs 1 crore fine on Indian Bank for violating cyber security norms

Mumbai: The Reserve Bank of India Tuesday said it has imposed a fine of Rs 1 crore on Indian Bank for violating cyber security norms. The RBI has imposed, by an order dated November 30, 2018, a monetary penalty of Rs 10 million on Indian Bank for contravention of Circular on Cyber Security Framework in banks, the central bank said in a release. The contravention 48

6 December, 2018 11:59 AM Chennai-based MGM Healthcare to set up South India-focused hospital chain

MGM expects the two upcoming hospitals in Chennai to take its bed capacity to 1000 in the next two years. MGM Healthcare, the privately held company of Chennai-based MGM Group, is planning to set up chain of hospitals across South India, starting from Chennai. MGM will soon be launching a 400-bedded hospital in the heart of Chennai at Nelson-Manickam 47

5 December, 2018 7:10 AM Canara Bank PO Admit Card Out

Canara Bank PO exam is scheduled to be held on December 23, 2018. Canara Bank has released the admit cards or call letter for PO recruitment through Post-Graduate Diploma In Banking & Finance (PGDBF) Course. Candidates can download the PO admit card using their registration number or roll number and password or date of birth. Candidates who had applied 80

4 December, 2018 9:38 AM Latest Interest Rates, Minimum Balance Rules Of State Bank Of India (SBI)

Recently, State Bank of India (SBI) raised interest rates on fixed deposit accounts across select maturities. State Bank of India (SBI) has a deposit base of Rs. 28.07 lakh crore (as on September 2018). SBI, the largest commercial bank of the country in terms of assets, deposits, profits, branches, customers and employees, offers a range of services 48

4 December, 2018 7:11 AM China's Huatai Securities plans to list in London on December 14: Source

Chinese brokerage Huatai Securities plans to list on the London Stock Exchange on December 14 via the Shanghai-London Stock Connect, a person with direct knowledge of the plan said. Shanghai-listed Huatai, which counts Alibaba as a strategic investor, will soon publish a prospectus to issue Global Depositary Receipts (GDRs) in London, said the person 53

3 December, 2018 4:28 AM Buy HDFC Bank with target Rs 2,420: Anand Rathi

HDFC Bank is an Indian banking and financial services company headquartered in Mumbai, Maharashtra and has a presence in Bahrain, Hong Kong and Dubai. HDFC Bank is India’s largest private sector lender by assets. HDFC Bank provides a number of products and services including wholesale banking, retail banking, treasury, auto loans, two wheeler loans 53

1 December, 2018 1:16 PM Bankers threaten nationwide strike on December 26 to protest merger of banks

The government had in September approved the merger of three public sector lenders - Bank of Baroda, Dena Bank and Vijaya Bank.  NEW DELHI: Bank unions have called for a nationwide strike on December 26 against the proposed merger of Bank of Baroda, Dena Bank and Vijaya Bank. The strike is being organised by the United Forum of Bank Unions (UFBU), an umbrella 256

30 November, 2018 12:08 AM NHB disburses Rs 3,270 cr to 1.43 lakh beneficiaries under PMAY till Nov 28

NHB is the central nodal agency for the implementation of the CLSS. New Delhi: National Housing Bank (NHB) said Wednesday it has disbursed Rs 3,270 crore subsidy to more than 1.43 lakh households so far this year under the Credit Linked Subsidy Scheme (CLSS) of the PM Awas Yojana (PMAY). "This has exceeded the cumulative amounts over the past three years 46