Banking news of the day

Below is the snapshot of the latest banking news happening around the world.

June 10, 2013 9:30 IST | India Infoline News Service
RBI, SEBI oppose key suggestions to amend financial sector laws
India's lead financial regulators — the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) — have opposed some of the key recommendations of a commission constituted by the government to amend financial sector laws, saying they are ill-conceived and could undermine the authority of regulators. (Source: The Economic Times)

RBI to come out with paper on banking structure: D Subbarao
RBI will come out with a paper on the banking structure in the country discussing issues like consolidation even as it prepares to issue new bank licences after a decade. (Source: PTI)

Ponzi menace needs better surveillance, not new regulator: RBI
Amid huge amounts of public money being collected via various ponzi schemes, the RBI is of the view that setting up a new regulator might not solve the problem and such illegal activities can only be checked by stronger surveillance and better enforcement of laws. (Source: PTI)

RBI to intervene in forex market only to curb volatility: D Subbarao
Amid rupee crossing the 57 mark against US dollar, the Reserve Bank said it is not targeting any exchange rate but will intervene in the forex markets only to curb volatility and prevent disruption of macroeconomic stability. (Source: PTI)

Deepak Parekh backs Shagun Gogia for seat on Yes Bank board
Yes Bank's rejection in 2009 for its board the candidature of a double-graduate in economics and biology, a masters in business administration, with deal making experience at Rabo and ICICI Venture Funds, has brought to public glare yet another family feud in businesses. (Source: The Economic Times)

Surat Nagrik Sahkari Bank to be renamed in July
With Gujarat State Registrar of Cooperative Societies (RCS) finalizing the cut-off date for the merger of Surat Nagrik Sahkari Bank with Mehsana Urban Cooperative Bank on July 1, over 42,000 account holders and depositors would now be able to operate their accounts from the first week of July. (Source: The Times of India)

Dept of Posts to move cabinet note to apply for bank licence
The Department of Posts will move a Cabinet note in order to apply for a banking license by the stipulated deadline of July 1, a senior official has said, even as a top Finance Ministry went public with doubts over the efficacy of the post office being converted into a bank. (Source: PTI)

SBI opposes airline licence for new venture of Capt Gopinath
State Bank of India (SBI) has raised objections to the proposal of Captain Gopinath to float a budget airline saying that the company which he had led in the past is yet to repay loans. (Source: PTI)

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