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The Economic Times: Latest business, finance, markets, stocks, company news from India.



Last Build Date: Fri, 28 Apr 2017 06:36:03 GMT

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Kotak Mahindra Bank to buy out partner Old Mutual for Rs 1292 crore

Fri, 28 Apr 2017 04:02:41 GMT

(image) The buyout is subject to regulatory and other approvals, and will result in the Kotak Mahindra Group holding 100 per cent equity in Kotak Life



PSU banks may be asked to take over non-performing assets

Thu, 27 Apr 2017 20:15:45 GMT

(image) "We will be asking the concerned administrative ministries to suggest measures and, if possible, then a state-run firm can take over these assets,” the official said.



One in three cyber attacks in banks are successful: Report

Thu, 27 Apr 2017 08:51:25 GMT

(image) The survey revealed that 78% of executives were confident about their overall security strategy, with more than half indicating high levels of comfort in their ability to identify the cause of breach.



No need to worry too much about NPAs, solution soon: Santosh Kumar Gangwar

Thu, 27 Apr 2017 07:41:58 GMT

(image) Bad loans of public banks rose by over Rs 1L cr to Rs 6.06L cr during April-December of 2016-17, the bulk of which came from power, steel, road infrastructure and textiles sectors.



Google-backed payment company Ripple in talks with NPCI, banks for account-to-account transfers globally

Thu, 27 Apr 2017 05:47:07 GMT

(image) Ripple is able to provide this service through the use of distributed ledger technology made famous by block chain, the technology behind bitcoins.



Screening panel to prune shortlist for Small Industries Development Bank of India, IFCI top posts

Wed, 26 Apr 2017 19:49:51 GMT

(image) "The BBB has suggested that finmin should set up a screening panel and identify the most eligible six or seven candidates, who will be then called for interviews."



Bank credit demand inches up 5.5 per cent in first fortnight of FY18

Wed, 26 Apr 2017 17:04:08 GMT

(image) It can be noted that the credit growth in FY17 was the lowest since fiscal 1954 when it had inched up by a paltry 1.7 per cent, according to the apex bank data.



IDFC Bank appoints Avtar Monga as its executive director

Wed, 26 Apr 2017 13:34:43 GMT

(image) With over 35 years of experience in the banking and financial services industry, Monga brings significant strategic insight and knowledge to the bank’s board.



YES Bank to become more vigilant on micro loans through business correspondents

Wed, 26 Apr 2017 09:37:35 GMT

(image) The Rana Kapoor-led bank is instead trying to be self sufficient in originating micro loans and to improve monitoring over the existing partner firms to minimise losses on possible default.



Banks finalise interchange fee for Micro ATM transactions

Wed, 26 Apr 2017 07:17:45 GMT

(image) These charges, which are mostly agreeable to the bigger banks, were decided after almost a month-long debate.



Banks levy numerous fees on customers for services. Is it cost cover or easy money?

Wed, 26 Apr 2017 01:51:52 GMT

(image) In the battle for fees, banks should realise that maximising profits is a short-term game and a fair game could sow the seeds of long-term profits.



Government giving top priority to addressing bad loans: Arun Jaitley

Tue, 25 Apr 2017 18:49:42 GMT

(image) It's not a problem spread over hundreds of thousands of accounts...And it's not impossible for a large economy like India to resolve 20 to 30 accounts, he said.



RBI’s tighter norms may not hit PSU banks immediately

Tue, 25 Apr 2017 18:38:41 GMT

(image) RBI can also use its discretionary powers to sack the bank management, supersede the board, restrict access to deposits, staff expansion, capital expenditure or restrict lending altogether.



RBI Governor Urjit Patel suggests merging public sector banks

Tue, 25 Apr 2017 05:28:49 GMT

(image) Do we need so many public sector banks, Patel asked while delivering the Kotak Family Distinguished Lecture at Columbia University in New York on Monday.



Maharashtra to get 50,000 new mini bank branches

Tue, 25 Apr 2017 04:59:28 GMT

(image) At the peak of the demonetization exercise last year, the government had announced that it will equip all 5.58 lakh ration shops across the country for cashless transactions.