After witnessing a robust growth for four consecutive fortnights, loans growth saw a decrease in the latest fortnight ending October 23. Though the bankers are optimistic that the growth in the second half of the fiscal would be better than

The government has parked idle funds worth Rs 61,343 crore in its account with the Reserve Bank of India. The idle money with RBI increased from Rs 12,837 crore in June 2009 to Rs 80,775 crore by end-September, and has

Bihar's deputy Chief Minister, Sushil Kumar Modi's announcement to entitle the state Bataidars (sharecroppers) and landowners to Kisan Credit Cards has led to protests from the state legislators. The legislators are demanding his resignation. Kisan Credit cards are becoming increasingly

Nation's largest lender, State bank of India, said that it might not withdraw the home loan offer immediately. The home loan offer charges interest rates as low as 8 percent for the first year of repayment.As per the scheme, customers

An official from finance ministry said that the government has planned to make an amendment in the law regarding its stake in India largest lender, State Bank of India (SBI), thereby enabling the bank to raise funds.Currently the government is

The centre is in talks with the banking regulator, RBI to ease foreign direct investment norms for banks having over 50 percent foreign ownership but operated by Indians. These banks include ICICI bank and HDFC bank amongst others.ICICI bank had

Reserve Bank of India has decided to carry out an audit in order to measure the transparency in all financial operations of foreign banks in India. The reason behind this is to ensure that these banks do not pose any

According to a report on trends and progress of banking in India released by RBI only 1.2% of Urban Cooperative banks (UCBs) held deposits greater than Rs. 1000 crore as on March 2009. These banks constituted 33.6% in the entire

RBI has bought 200 tonnes of gold from International Monetary fund (IMF). This would not just help in diversifying India's foreign exchange but also help in enhancing value of reserves.Gold prices have been rising at a faster pace than most

Air India has managed to procure a Working Capital loan worth Rs. 500 crore from SBI. The loan would be used in payments of delayed allowances and incentives to the employees. AI was in urgent need of loans worth Rs.