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SBI union rejects new wage pact

The AISBOF rejected the proposed 17.5 percent wage hike and pension benefits and demanded a separate wage revision for them.

credit exposure to UAE insignificant: SBI

India’s premier lender, State Bank of India, said its exposure to Dubai firms are insignificant and ruled out any cause of concern due to the debt crisis there.

RBI to ask banks about their exposure in Dubai World

RBI will ask Indian banks to furnish details regarding their exposure in the Dubai World.

EPFO asks ICICI Pru, SBI to improve returns

Unhappy with the performance of ICICI Pru AMC and State Bank of India--two of its two fund managers--during the first half of this fiscal, the EPFO has asked them to submit an action plan on earning better returns.

No material exposure to Dubai corporates: ICICI

Amid fears of a debt crisis in Dubai, ICICI Bank said it does not have any significant exposure to Dubai corporates.

RBI studying Dubai World default impact: Subbarao

The Reserve Bank India said it is examining the impact of the Dubai government's decision to suspend debt payments by Dubai World, which led global stock markets to tumble amid fears of widespread default.

Banks should reach unbanked areas: Patil

Patil asked banks to extend credit to farmers to improve productivity of the agricultural sector.

RBI fixes reference rate for US dollar and Euro

RBI fixed the Reference rate for dollar at Rs 46.27 per dollar and for Euro at Rs 69.88 per euro.

SBI cashier held for Rs one crore fraud

Meghalaya police arrests a cashier of SBI for withdrawing over 1 cr from customers' accounts.

RBI fixes Reference rate for US dollar and Euro

RBI fixed the Reference rate for the US currency at Rs 46.34 per dollar and European unit at Rs 69.50 per euro.

Infrastructure financing a big challenge for banks: Subbarao

The Reserve Bank asked banks to take due care while lending to infrastructure sector, as any asset-liability mismatch may lead to defaults.

J-K Cooperative Bank earns record profit of Rs 3.86 crore

Jammu and Kashmir Cooperative Bank earned a record net profit of Rs 3.86 crore in the last financial year.

Banks need to buffer capital base: RBI chief

Banks need to buffer their capital base and upgrade risk management systems: RBI governor.

India pays Rs 117 cr commitment fee to ADB, WB

The commitment charges have been paid by India to multilateral lending agencies like World Bank and Asian Development Bank in the last fiscal.

PNB to spend $18-20 mn to acquire Dana bank

Public-sector lender Punjab National Bank said it will complete acquisition of Kazakhstan-based Dana bank this fiscal for a consideration of 18-20 million dollars.

Bank of India cuts deposit rates across select maturities

Public sector lender, Bank of India today reduced deposit rates in select maturities by 0.25 per cent from Friday.

Barclays starts semi-fixed loan against property

Barclays Global Retail Bank (GRB) India said it has launched semi-fixed loans against property.

SBI hopes to get RBI nod for Doha branch soon

SBI expects to receive the Reserve Bank's and Doha government's approval to set up a branch there by the first week of December, a top SBI official said.

Kotak Mahindra receives $ 51 mn credit from WB entity

As a first initiative of its kind in India, a World Bank entity will provide credit facility of up to USD 51 million to Kotak Mahindra Bank to help small and medium enterprises, hit hard by the global financial crisis, meet their export and import obligations.

PNB for stake in Kazakhstan-based bank

Punjab National Bank plans to acquire a majority stake in a Kazakhstan-based bank

ICICI Bank raises $750 mn through bond issue

ICICI Bank has raised $750-million through the issue of five-year bonds.

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