Tag Archives: SBI

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 September 15th to September 21st 2014

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India: RBI

  • RBI will issue the final guidelines on universal banking licences on tap before the end of this fiscal
  • RBI cancels licence of Ajmer Urban Cooperative Bank
  • RBI: banks free to charge ATM users
  • RBI asks banks to roll out Point of sale (POS) machines for debit cards

India: SEBI

  • SEBI relaxed its proposed corporate governance norms by bringing related-party transaction norms in line with the Companies Act
  • SEBI to soon notify norms for Real Estate Investment Trusts
  • SEBI pulls up mutual funds over high commissions

India: Finance Ministry

  • Finance Ministry: Government to pay 2% commission to banks for direct benefit transfers

India: Banking Development

  • South Canara District Central Cooperative (SCDCC) Bank launched “bank-cum-ATM on wheels”
  • Axis Bank launches e-surveillance facility at ATM locations
  • Canara, HSBC, Oriental Bank of Commerce, Life Insurance launched CHOICeNET, a portal that will allow bank employees to provide end-to-end information for their customers’ life insurance policies
  • Federal Bank launches new version of e-passbook

India: Banking Expansion

  • SBI associate banks to raise Rs33, 000 crore capital in next 5 years
  • South Indian Bank plans to raise ₹500 crore via QIP
  • ICICI Bank Ltd signed a framework agreement with the Export-Import Bank of China (China Exim Bank) for $1 Bn
  • Axis Bank signs MoU with China Development Bank
  • SBI signed an agreement with China Exim Bank for a Line of Credit of $ 1.8Bn for imports of raw material, energy, equipment, mechanical and electronic products, among others from China

India: General banking

  • Banks open 4 crore accounts under Jan Dhan Yojana; mobilize Rs 3,700 crore
  • EPFO mandates firms to provide workers’ bank account numbers for easy PF transfer
  • Japan’s Mizuho Bank to open branch in Ahmedabad by mid-2015
  • State Bank of Hyderabad launches settlement scheme for NPAs
  • The Export Import Bank of India has extended a USD 62.95 Mn Line of Credit (LOC) to Republic of Senegal for a rice self-sufficiency programme

India: Frauds

  • In Vadodara, Four persons were arrested and accused for duping loan seekers in the United States (US) through tele-calling and amassed around Rs 3 crore

India: They said it

  • K Sinha, SEBI Chief: Work in progress for guidelines on wilful defaulters
  • The International Monetary Fund (IMF): RBI needs to further increase policy rates to bring down inflation on a sustained basis

India: Forex reserve

  • India’s foreign exchange (forex) reserves dipped US$ 1.62Bn to US$ 315.698 Bn in the week ended 12 September 2014

International:

  • China’s central bank is injecting a combined 500 Bn Yuan ($81.35 Bn ) of liquidity into the country’s top banks
  • G20 finance ministers agreed on allowing automatic sharing of all bank information with tax authorities at the end of each year, starting 2017