Banking news of the day

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

July 08, 2013 8:49 IST | India Infoline News Service
RBI top post: Saumitra Chaudhuri frontrunner
Planning Commission member Saumitra Chaudhuri has emerged as the frontrunner for the post of next Reserve Bank of India governor. The government plans to issue the orders once the appointment committee of the Cabinet formally approves Chaudhuri's name. (Source: Indian Express)

RBI, Sebi to issue fresh warnings on Iran funds
To check flow of Iran money into the Indian banking system and capital markets, financial regulators RBI and Sebi will soon issue fresh warnings asking entities under their respective jurisdictions to remain vigilant about entities and funds with Iranian links. (Source: PTI)

To stem rupee's slide, government set to repair ties with RBI
The government is moving to improve its relations with financial regulators, particularly the central bank, ahead of a possible coordinated effort to stem the rupee's slide. (Source: The Economic Times)

To save rupee, RBI may go for direct funding of crude buys, bond issue
The Reserve Bank of India may be forced to announce some measures in the next few days or weeks to arrest the rupee's slide, which is likely to worsen as the threat of the US Federal Reserve tapering bond purchases has triggered a flight of dollars back to America. (Source: The Economic Times)

Bank hopefuls have a tough battle ahead
While corporate heavyweights from the Tata, Birla and Bajaj groups to Anil Ambani's Reliance Capital are among those applying for the right to establish full-fledged banks, the pool of 26 hopefuls was smaller than analysts had expected. (Source: Reuters)

Yes Bank may sell stake to PE funds to raise $300 million
Yes Bank, the youngest among Indian lenders, may sell shares to two private equity investors to raise about $300 million as it attempts to raise its professional standards amid likely competition from new entrants. (Source: The Economic Times)

Jammu and Kashmir Bank signs MoU with IDBI for MF distribution
Jammu and Kashmir Bank has signed a memorandum of understanding with IDBI Bank for distribution of IDBI mutual fund schemes. (Source: PTI)

Bank loans to small units may get cheaper
To encourage flow of credit to micro and small enterprises, the trust that provides guarantee cover on collateral-free loans extended by banks is considering lightening the annual guarantee fee burden. (Source: The Hindu Business Line)

Deutsche Bank sees 6% GDP growth this fiscal
Foreign brokerage Deutsche Bank has pegged India's GDP growth rate at 6% this fiscal following the recent policy measures, even though vulnerabilities continue on the external front. (Source: PTI)

Battle against bulk deposits continues: Vijaya Bank CMD
Upendra Kamath, as Chairman and Managing Director, has steered Vijaya Bank through a difficult two years. During this period, he focussed mainly on rebalancing the portfolio — both on the assets and liabilities sides. Vijaya Bank was excessively reliant on bulk business — whether on the corporate lending side or on deposits. (Source: The Hindu Business Line)

Japan bank lending hits four-year high as BOJ pumps money
Japanese bank lending marked its biggest annual increase in four years in June, suggesting the central bank's aggressive monetary stimulus and brightening economic prospects are spurring fund demand for fresh investment. (Source: Reuters)

World Bank chief Jim Yong Kim: 'They said poverty would always be with us. Well, maybe not'
It is an unlikely mode for a saviour. Middle-aged, suited and bespectacled, staring out from a billboard erected over the warren of slums that surround Kinshasa, the chaotic capital of the Democratic Republic of Congo (DRC). The face is that of Jim Yong Kim, the first man from outside the discipline of economics to take the helm at the World Bank, an institution many observers have accused of lacking purpose. (Source: The Independent)

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