Banking news of the day

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

June 24, 2013 9:09 IST | India Infoline News Service
RBI easing KYC norms to remove hurdles in opening new bank accounts
The Reserve Bank of India is looking to remove hurdles faced by customers in opening new bank accounts. In its bid to make the process hassle-free, a team of senior officials from the RBI, including its Executive Director B. Mahapatra, Regional Director, Sadakkatadulla and the Banking Ombudsman Sujatha E. Prasad, were in the city to seek suggestions from the public. Coimbatore is the second city for the visiting team. (Source: The Hindu Business Line)

RBI advises retail depositors to play safe
With unregistered schemes and shady firms mushrooming in the form of finance companies, collective investment schemes (CIS), chit funds and multi-level marketing companies across the country, regulatory bodies are also getting active to eliminate the menace. (Source: The Hindu Business Line)

RBI’s monetary policy stance apt in current economic milieu
The Reserve Bank of India in its monetary policy review on June 17 kept the repo rate and the cash reserve ratio unchanged at 7.25 per cent and 4 per cent, respectively. (Source: The Hindu Business Line)

Won't consider incomplete bank licence applications: RBI
The Reserve Bank of India (RBI) said that applications for bank licences received after the last date of July 1 or incomplete applications will not be considered. (Source: PTI)

IDBI Bank blames project developer for delay in KMP expressway

In a rare instance of plainspeak by a banker, IDBI Bank, the lead lender of the Rs. 20 billion western peripheral expressway, has blamed the developer's lack of commitment for the project being delayed by over four years with no completion in sight. The developer has strongly refuted charges of lack of commitment on its part. (Source: The Economic Times)

State Bank of India to hire 10,000 in FY14

India's largest lender State Bank of India (SBI) plans to hire 10,000 officers and employees in the current fiscal year to spruce up its operations. (Source: PTI)

Chidambaram may back borrowers in July 3 meeting with bank chiefs
Finance Minister P. Chidambaram may come down heavily on public sector bank chiefs for not passing on to borrowers the benefits of RBI policy rate cuts. (Source: The Hindu Business Line)

Chidambaram says number of bank branches reflects growth, development
Union Finance Minister P. Chidambaram said the number of bank branches in a particular region is the indicator of its growth and development and not the extent of concessions and freebies given. (Source: The Hindu Business Line)

FREE Benefits Worth 5,000



Open Demat Account

  • 0

    Per Order for ETF & Mutual Funds Brokerage

  • 20

    Per Order for Delivery, Intraday, F&O, Currency & Commodity