Tag Archives: finance news

The World of Finance: Week of September 22nd to September 28th 2014

the-world-of-finance-week-2014-Oct-01

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India: RBI

  • RBI panel outlines steps to help PSU banks manage talent better
  • RBI released the issuance calendar of Government bonds for the second half of this fiscal year

India: SEBI

  • SEBI appoints Gyan Bhushan as Chief vigilance officer
  • MCX Stock Exchange Ltd (MCX-SX) receives approval from SEBI to change its name to Metropolitan Stock Exchange of India Ltd, or mSXI
  • SEBI wants SMEs to get listed for more gains

India: Finance Ministry

  • The Finance Ministry is pushing for further easing of rules for foreign direct investment
  • The Finance Ministry has opposed a proposal to supply domestically produced coal to power plants that do not have a fuel supply agreement (FSA)

India: Banking Development

  • IDFC Bank to kick-start banking operations by Oct 1, 2015
  • SBI, ICICI allow kids to operate bank accounts
  • Banks get a push from RBI to mine social media, know customers better

India: Banking Expansion

  • FIPB to decide on HDFC Bank proposal to increase foreign investment limit
  • IDFC raised Rs 1000 Cr through qualified institutional placement (QIP) after selling 7.3 crore shares for Rs 137 each
  • Rs 1,500 crore deposited in banks under Jan Dhan Yojana
  • Already about 4  Crore new bank accounts have been opened under Jan Dhan Yojana

India: General banking

  • Board of Bank of Baroda approves  stock split of 1 equity share into five equity shares, subject to regulatory approvals
  • Bank unions plan protests from Oct 10
  • State Bank of India likely to hold the subsidiary banks’ merger plan
  • Calcutta HC stays United Bank of India’s declaration of Kingfisher Airlines as wilful defaulter
  • IDBI Bank approves raising rupee borrowing limit to Rs 15,000 crore
  • Syndicate Bank terminated its suspended CMD Sudhir Kumar Jain’s term

India: Frauds

  • The Visakhapatnam branch of CBI has registered a case against the chief manager of the Indian Bank at Narasaraopet in Guntur for allegedly entering into a criminal conspiracy with a few companies and persons to defraud the bank of Rs 10.49 lakh

India: They said it

  • Raghuram Rajan, RBI Governor: Macro indicators improving but rate cut still away
  • Raghuram Rajan, RBI Governor: Need to tackle ‘persistent’ inflation
  • Raghuram Rajan, RBI Governor: India needs “sensible” regulations to spur growth
  • RBI Deputy Governor: Discussions are going on to Join Euroclear

India: Forex reserve

  • India’s forex reserves fell by $101.3 Mn in the week ended September 19 to $315.59 Bn

International:

  • A China-led effort to launch the Asian Infrastructure Investment Bank has attracted the interest of 21 countries
  • Banks shut branches over Hong Kong protests

The World of Finance: Week of July 07th to July 14th, 2013

The World of Finance

  • Mandatory E-Filing of Income Tax returns must for income 5 lakh
  • Finance Ministry sends proposal for disinvestment in NHPC to raise Rs. 2000 Crore
  • Bank Internasional Indonesia launches its banking operations in India
  • AXIS Bank has been granted banking license in Britain
  • New India Insurance impact due to Uttarakhand tragedy at ~150 Crore
  • Temple boards of Tirupathi, Shirdi, Golden Temple and others take insurance covers against losses due to flood, fire, earthquake and even loss due to theft of idols, ornaments, hundi and crowns and even the golden covering on domes

India: Foreign Trade 

  • India ready for investment treaty talks with US:  Finance Minister
  • FDI rises 25% to six month high of $2.32B in April
  • Forex reserves reach 3 year low at $280.2B
  • India assured continued credit lines to Ethiopia
  • Abu Dhabi’s ADIA invests $200 million in Indian real estate

India: Other News

  • India’s trade deficit narrowed to $12.24B from $20.14B in May, mainly due to fall in Gold and Silver imports
  • Plastic money gains acceptance in rural India
  • India forex reserves drop $10.5B over three weeks
  • Nearly $100M forex debt of India Inc is unhedged : CRISIL
  • IRDA may allow banks to be insurance brokers
  • RBI asks banks to strictly adhere to KYC and AML norms for walk in customers for selling any products greater than 50,000 rupees

Worldwide

  • Finance set to surpass tech as most-profitable U.S. Industry
  • China’s economic growth dropped to 7.5 per cent in the second quarter of this year
  • Eurobank, one of Greece’s biggest lenders, on Saturday acquired the country’s postal bank

Wordwide Fraud Watch

  • Fraudsters snatch £150m a year from unwary investors
  • $15,000 disappears from Dubai expat account after Email hacked