Contify Banking presents a summary of the most important news stories that made maximum impact on Tuesday from its banking, finance, insurance and economy portal.
Moody's to review ICICI Bank, HDFC Bank, Axis Bank for downgrade in line with sovereign rating
New Delhi: Global credit rating agency Moody's Investors Service Monday said that it has placed India's three major private sector lenders ICICI Bank, HDFC Bank and Axis Bank under review for a downgrade, making its intentions clear about rating lenders in line with the sovereign rating of the nations in which they are based.
Punjab National Bank revises interest rates on foreign currency deposits effective May 1
New Delhi: India's second largest state-run lender Punjab National Bank has revised interest rates on its Foreign Currency Non-Resident (B) deposit scheme (FCNR) with effect from May 1, 2012, it said in a statement Tuesday.
Punjab & Sind Bank trims base rate by 25 bps to 10.5%
New Delhi: Indian state-run lender Punjab & Sind Bank announced a reduction in its base rate -- yardstick for pricing all loans -- by 25 basis points with effect from Tuesday, May 1, following the Reserve Bank of India's (RBI) decision to slash the key policy rate by a higher-than-expected 50 basis points earlier last month.
RBI dy Sinha says closely watching 'shadow banking' activities; to tighten norms if needed
New Delhi: The Reserve Bank of India is closely watching "shadow banking" transactions and plans to strengthen norms to curb any such form of informal lending and borrowing business if necessary, Deputy Governor Anand Sinha said.
State-run banks team-up to install over 65,000 ATMs in FY13
New Delhi: Indian state-run lenders plan to jointly open more than 65,000 automated teller machines (ATMs) during the current financial year 2012-13, to cut their operating costs, The Economic Times reported Tuesday citing unidentified bank executives.
Union Bank of India to open 30 branches, 59 ATMs in Karnataka in fiscal 2012-13
New Delhi: State-run lender Union Bank of India plans to open 30 branches and 59 ATMs (automated teller machines) in the southern state of Karnataka during the current financial year 2012-13, Chairman and Managing Director D Sarkar said.
India's Mar oil imports up 32.45% on-yr to $15.83 bln
New Delhi: India's oil imports increased 32.45% to $15.83 billion in March from $11.95 billion in the same month a year ago, the government said Tuesday.
Bank of India Jan-Mar net profit nearly doubles on-yr to Rs 9.52 bln; stocks soar 4.59%
New Delhi: State-run lender Bank of India's fiscal fourth quarter (Jan-Mar) net profit nearly doubled to Rs 9.52 billion from Rs 4.93 billion in the same period a year ago driven by robust operating profit, it said Monday.
Oriental Bank of Commerce Jan-Mar net profit down 20.6% on-yr to Rs 2.64 bln
New Delhi: Indian state-run lender Oriental Bank of Commerce's fiscal fourth quarter (Jan-Mar) net profit fell 20.6% to Rs 2.64 billion from Rs 3.33 billion in the same period a year ago on account of high expenditure and muted contribution from the interest income front.
Karnataka Bank to announce Jan-Mar financial result on May 18
New Delhi: Indian private sector lender Karnataka Bank Ltd will announce its fiscal fourth quarter (Jan-Mar) financial results for fiscal 2011-12 on May 18, 2012.