Archive for the ‘Banking’ Category

SBI branches stop Iran cos’ dollar transactions

State Bank of India has directed its overseas branches to stop transactions with Iranian entities. An internal circular issued by India’s largest bank to its branches last month shows India has also tacitly joined international sanctions against the ... Full story

Microfinance institutions set for pain

India's MFIs surged to prominence post-SKS Microfinance IPO, but pain starts now. Full story

RBI warns of salary accounts fraud

In a bid to check money laundering Reserve Bank today asked banks to seek valid documents besides certification by employer while opening accounts of salaried employees. Full story

Finmin examining SBI rights issue proposal

The government holds 59.41 pct stake in the bank, after acquiring RBI's stake in 2007. Full story

Can’t sell? Don’t split

Everyone and his uncle has made forecasts on when the US housing market is likely to revive, but what Deutsche Bank... Full story

Law keeps Infy’s Murthy bound to SKS

Infosys' N R Narayana Murthy said exit from SKS Microfinance was legally not possible. Full story

Govt won’t crackdown on MFIs

Govt is not looking to crackdown on microfinance institutions, indicated Pranab Mukherjee. Full story

Central Bank of India Q2 net up 21 pct

Full story

PSU banks to recruit 85,000 staff in next 3 years

Job seekers in the banking sector would have something to cheer about. Full story

Need country-specific action on current accounts: FM

Pranab said action taken by individual nations to address current account balances should not hurt the economies of other countries. Full story
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