Ruling out all the speculations and the demands of industries to reduce higher interest rate, the Reserve Bank of India (RBI) - the Master Bank - Tuesday has kept all key policy rates and reserve ratios unchanged in a review Tuesday in order to arrest inflation. However, the apex bank has also said that its focus now shifts towards spurring growth that has taken a hit in recent months.
The Lok Sabha Tuesday passed the Banking amendment bill & Companies bill by voice votes while voting for passing these bills in Rajya Sabha will be held. The Banking Laws (Amendment) Bill, 2011 seeks to attract more foreign investments & pave way for issuance of new licences and consolidation in the sector while Companies Bill aims to protect interest of employees & small investors while encouraging firms to undertake social welfare voluntarily instead of imposing that through "inspector…
The World Bank said Tuesday that the financial head of Societe Generale will join the bank as managing director for finance and chief financial officer. The Washington-based global lender announced in a statement the appointment of Bertrand Badre, a French national who is currently serving as the chief financial officer at Societe Generale. Badre will take up the new position March 1, 2013.
The Reserve Bank of India (RBI) - India's master bank - Friday released the final guidelines for issuing new bank licences, paving the way for corporate firms to enter the sector. As per the final guidelines, the minimum capital requirement for opening a bank is Rs.500 crore. Foreign shareholding in the new bank is capped at 49 percent.
The Reserve Bank of India (RBI) has asked to lending banks to consider to issue debit cards with printed customer's photograph in order to prevent the misuse of stolen cards and other fraudulent to the customers.
The investors who have invested their hard earned money in Public provident Fund (PPF) and various small saving schemes conducted by post office, would now earn lesser benefit as government has announced to cut the given interest rate by 0.1 percent.
IBPS CWE Clerk II Online exam result 2012 has been declared. The announcement of the results has ended the wait of the candidates who had appeared for the online exam held by IBPS on 15th, 16th , 22nd , 23rd , 29th and 30th December 2012.
After slumping down due to effect of global meltdown, India is set to grow upwards, predicts World Bank. According to prediction of World Bank, India can grow at 6.4% rate in the financial year (FY) 2013-14 which further can rise to 7.3% in the next fiscal. At present, due to slow down, it seems very difficult for India to achieve its projected growth rate of 5.4% in this fiscal.
Reserve Bank of India has cut Repurchase Rate, or the interest on short-term borrowings by commercial banks from 7.75 percent to 7.5 percent and the Reverse Repurchase Rate, or interest on short-term lending to 6.5 percent against 6.75 percent. Reserve Bank of India (RBI) Governor D. Subbarao took the decision during a mid-quarter review of the monetary policy for the current fiscal on Tuesday. India, Asia's 3rd largest economy is growing at its slowest at around 5% in the fiscal year…
The Reserve Bank of India (RBI) Tuesday left all key policy rates unchanged to support the battered rupee and said the recent liquidity tightening measures will be rolled back when stability returns to the currency markets.