By contrast the AIIB has been fast. The Bank, to be headquartered in Beijing, is expected to be operational by next year.
Guernsey is a tax haven that lies within the common travel area of British Isles and part of the European community for the purposes of free trade in goods.
If the proposal is implemented, FIIs could get more headroom for purchases.
Anshu Jain, whotook over as co-CEO of Deutsche Bank on June 1, 2012, will receive no severance pay nor the remaining salary of about 7 million euros per year because he initiated his own departure.
As regards the transmission of rate cuts by the Reserve Bank, Jaitley said the banks gave detailed presentation on how each one of them reduced their lending rates.
The cuts are the latest in a series of heavy staff reductions and will leave HSBC with around 208,000 full-time equivalent staff
The nation's largest lender State Bank of India on Tuesday reduced its base rate by 15 basis points after the RBI cut repo rate by 25 basis points.
The bank’s asset quality improved in the period under study as net non-performing assets (NPAs) declined to 2.12 per cent of net advances.
Rajan made a strong case for the IMF to analyse each new unconventional monetary policy, including sustained unidirectional exchange rate intervention.
The chief minister reiterated that Maharashtra was keen on partnership with China on developing infrastructure.
The new Insurance Act allows entry of branch operations of foreign reinsurance giants and 49 % foreign equity in place. As a result, global reinsurers who were so far operating through their service companies will be setting up their full-fledged India operations soon
It will end the right of the Indian partners to nominate a director on the bank board under the articles of association of the bank , court said.
Centre had decided to infuse R6,990 cr in 9 PSBs out of current year’s budget
Rajan said it is a very complicated issue that should neither be taken lightly nor should an easy and rushed explanation be offered to the tragic incidents of suicides.
The RBI is planning to allow business correspondents of one bank to offer payment services to other lenders for better efficiency and optimisation.
At the Interbank Foreign Exchange (Forex) market, the domestic currency commenced weak at 62.54 a dollar from last close of 62.36.
He stated that he is looking into matter to find solutions.
These have been prosecutable offence with rigorous imprisonment up to 10 years.
Stressing that “big bang unthinking reforms” will only lead to problems later on, the Reserve Bank of India (RBI) Governor Raghuram Rajan said the central bank is instead keen on implementing “steady regular reforms at a measured pace”, including ensuring over time a fully convertible rupee and thereby a completely open capital account. In Washington […]
The IMF and the World Bank have forecast that India’s growth rate would be fastest in the world.
The government has also asked banks and insurers to develop a common infotech module by June.
The apex bank has received 72 applications for small finance bank.
HDFC has also revised downwards its deposit rates across various maturities.
Rajan hinted that RBI might issue licenses for setting up of payment banks, small finance banks and a postal bank.
According to a DBS Bank official, benefits of easier monetary policy have yet to reach the real economy.
SBI, HDFC Bank cut lending rates by 15 bps each; ICICI slashes by 25 bps.
On inflation, the RBI said it will stay focussed on ensuring that the economy disinflates gradually and durably.
Gross collections for KVP were as high as Rs 21,631.16 crore in 2010-11, which was the year before it was discontinued.
The repo rate will continue to be at 7.5 per cent and the cash reserve ratio will remain at 4 per cent.
Foreign investors are not shy of investing in rupee debts even in overseas locations, Padmanabhan said.
Mumbai is also likely to report a lower collection than its target of Rs 2.30 lakh crore for FY15.
Jaitley said key challenges before the govt remain maintaining focus on infrastructure, increasing investments in agriculture and manufacturing.
SBI chief Arundhati Bhattacharya’s proposal came after the finance ministry complained to top bankers that banks are not meeting the credit needs of stalled projects.
The Micro Units Development Refinance Agency (MUDRA) Bank Bill will now give finality to the plan for regulation of the sector.
The RBI had lowered its policy rate by 25 basis points to 7.5 per cent on March 4.
Reserve Bank of India is unlikely to lower the interest rates during its annual monetary policy review on Tuesday.