banking News

Indian rupee down 10 paise against US dollar in early trade
PTI: Mumbai, May 20, 2013 at 1005 hrs ISTThe rupee weakened by 10 paise to 54.98 against the dollar on the Interbank Foreign Exchange market.
RBI likely to cut policy rates at its June 17 meeting: Experts
PTI: New Delhi, May 19, 2013 at 1135 hrs ISTBarclays further added that we expect the repo rate to be cut to 7 per cent (another 25 bp cut).
Saradha group chit fund scam: Sudipta Sen sent to judicial custody
Press Trust of India: May 18, 2013 at 1741 hrsPolice did not seek his further remand for Sudipta Sen, the chairman of the Saradha Group.
Cobrapost sting: NABARD chief gives clean chit to co-operative banks
PTI: Mumbai, May 19, 2013 at 1447 hrs ISTRBI has maintained that no transaction has happened while the sting also does not point to money laundering.
RBI or SEBI should create awareness against ponzi schemes: SBI
PTI: Kolkata, May 18, 2013 at 1656 hrs ISTRBI...or SEBI should begin a major campaign in line with Jago Grahak Jago, says Pratip Chaudhuri.
State Bank of India suggests RBI as single regulator for all home loans
Press Trust of India: May 18, 2013 at 1616 hrsA single regulator having same rules for all players would help remove regulatory arbitrage: SBI

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ATM heist: India's IT sector in unwelcome spotlight
Mumbai, Bangalore, May 19, 2013 at 0115 hrs ISTGlobal banks were already under pressure to step up oversight of back-office functions.
Indian rupee logs biggest fall in a week vs US dollar
Press Trust of India: May 17, 2013 at 1839 hrsIndian rupee commenced lower from previous close of 54.77 and immediately touched 55.00.
Overseas business margins under pressure: SBI
PTI: Kolkata, May 18, 2013 at 1453 hrs ISTState Bank of India today said it would review returns from its foreign and domestic business.
ABN AMRO to cut 400 jobs as profit plunges 17 per cent
Press Trust of India: Amsterdam/New Delhi, May 17, 2013 at 1635 hrs ISTThe bank announced reorganisation in the commercial and merchant banking divisions.
Vikram Pandit to take stake in Nimesh Kampani's JM Financial, take charge of banking foray
Reuters: Mumbai, May 16, 2013 at 2104 hrs ISTVikram Pandit and his business partner, Hari Aiyer to buy a 3% equity stake in JM Financial.
Oriental Bank of Commerce cuts fixed deposit rates by up to 1%
Press Trust of India: New Delhi, May 16, 2013 at 2054 hrs ISTFixed deposit rate for maturities ranging from 31-45 days has come down to 6 per cent.
Beyond the reach of banks, Indians targeted by outlaw fund scams
Reuters: Mumbai/Kolkata, May 17, 2013 at 1011 hrs ISTSaradha ran one of the thousands of unlicensed financial schemes in India.
Indian rupee edges up a paisa to end at 54.77 vs US dollar
PTI: Mumbai, May 16, 2013 at 1822 hrs ISTIndian rupee today closed just paise higher at 54.77 against US dollar on better local equities.

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