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Preview: Banking-Banking/Finance-News By Industry-News-The Economic Times

Banking-Banking/Finance-Industry-The Economic Times

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

Last Build Date: Wed, 29 Mar 2017 21:22:46 GMT

Copyright: Copyright:(C)2017 Bennett Coleman & Co. Ltd,

Axis Bank ties up with Wells Fargo for Inward remittances

Wed, 29 Mar 2017 14:14:57 GMT

(image) Under the arrangement, members of the Indian diaspora with an account with Wells Fargo will be able to transfer money to their relatives back home.

Nomura names Prabhat Awasthi as new India Head

Wed, 29 Mar 2017 08:55:39 GMT

(image) Awasthi, who is based in Mumbai, will be responsible for running Nomura India's franchise spanning fixed income, equities and investment banking, the firm said.

Centre to give Rs 10,000 cr relief to banks for sour loans of power projects

Wed, 29 Mar 2017 05:13:41 GMT

(image) The sources said the proposals could well be worth Rs 10,000 crore in relief, going by the current outstanding loans and their repayment status.

SBI to offer 'zero annual fee' credit cards to accounts with Rs 20,000

Wed, 29 Mar 2017 03:43:38 GMT

(image) This is the first major joint collaboration between Arundhati Bhattacharya-led SBI and SBI Card after the bank hiked its stake in the joint venture.

SBI to complete merger of 6 banks in three months

Tue, 28 Mar 2017 16:54:00 GMT

(image) SBI has sought three-month time from RBI for merger. It should be done by that timeframe, said SBI Managing Director (national banking group) Rajnish Kumar.

SBI to raise stake in SBI Card to 74% by June-end

Tue, 28 Mar 2017 16:01:37 GMT

(image) The board of SBI has already given approval for hike of the bank's stake in its two credit card joint ventures with General Electric Company to 74 per cent.

Esaf Small Finance Bank eyes Rs 5,000 crore business in first year

Tue, 28 Mar 2017 14:08:47 GMT

(image) As an MFI, the company is present in 11 states, which includes all the Southern states, barring Andhra Pradesh and Telengana.

Kotak Bank likely to buyout M&M Financial Services

Tue, 28 Mar 2017 12:32:14 GMT

(image) `Kotak Mahindra Bank may announce buying out Mahindra and Mahindra Financial Services in part cash and part stock deal,” said an investment banker based out of Mumbai.

Levy for not keeping minimum balance in banks should be reasonable: Govt

Tue, 28 Mar 2017 12:05:27 GMT

(image) Govt said banks can levy penal charges on the amount of difference between the actual balance maintained and minimum balance as agreed upon at the time of opening of account.

India to use regional-based model to consolidate public-sector banks - official

Tue, 28 Mar 2017 11:33:16 GMT

(image) Banks Board Bureau's chairman Vinod Rai said that it will avoid branch-based redundancies and create few strong banks in the west, north, south and east

SBI spent Rs 775 crore in maintaining Jan Dhan accounts: Santosh Kumar Gangwar

Tue, 28 Mar 2017 10:04:45 GMT

(image) Santosh Kumar Gangwar said the number of zero balance Jan Dhan accounts was 5.93 crore as on November 9, 2016, and 6.32 crore as on December 28, 2016.

ICICI Bank partners Truecaller for UPI-based mobile payment

Tue, 28 Mar 2017 09:06:49 GMT

(image) All transactions of Truecaller Pay, powered by ICICI Bank, follow two factor authentication as per RBI guidelines for secure transfer of money.

Banks looking for lower savings account interest rates

Tue, 28 Mar 2017 08:42:16 GMT

(image) According to the report, with falling loan:deposit ratios, weak loan growth and compressing spreads, banks are looking at the possibility of lowering the savings interest rates.

GVK asset sale: Syndicate Bank weighs fresh options to recover dues

Tue, 28 Mar 2017 06:05:27 GMT

(image) GVK Power & Infrastructure announced raising Rs 2,202 crore from Prem Watsabacked Fairfax India Holdings by selling a 33% stake in Bengaluru international airport.

Axis Bank to raise $10 million from Dubai centre

Mon, 27 Mar 2017 16:38:30 GMT

(image) Axis Bank said the capital will be raised through its Dubai International Financial Centre (DIFC) branch.