Bank Of India

"Government Obsessed...": Manmohan Singh's Comeback To Finance Minister

India News | Edited by Deepshikha Ghosh | Thursday October 17, 2019

Manmohan Singh, responding to Finance Minister Nirmala Sitharaman's comment blaming him for the bank crisis, said today that the government "is obsessed with trying to fix blame on its opponents" instead of finding solutions. The former Prime Minister also referred to the Punjab and Maharashtra Co-operative (PMC) bank crisis, which has impacted 16 ...

Omission Of Irregularities In PMC Bank Working Will Be Probed: Mumbai Police

Mumbai News | Press Trust of India | Thursday October 17, 2019

The Mumbai Police will investigate how the Reserve Bank of India audit missed various irregularities in the PMC bank transactions, the metropolis police chief said on Wednesday.

Supreme Court To Hear Plea For Protective Measures Over PMC Bank Scam

India News | Press Trust of India | Wednesday October 16, 2019

PMC Bank Scam: The petition has sought a direction for issuance of an "exhaustive and comprehensive guideline" to safeguard the banking and co-operative deposits in the eventuality of emergency financial crisis where citizens are financially stranded by the acts of few "unscrupulous persons".

Raghuram Rajan "Chose" To Head RBI At A Time...: Nirmala Sitharaman's Jibe

India News | Edited By Debanish Achom | Wednesday October 16, 2019

Finance Minister Nirmala Sitharaman said a "very democratised leadership led to a whole lot of corruption", days after former Reserve Bank of India Governor Raghuram Rajan criticised the government led by Prime Minister Narendra Modi for being "extremely centralised".

Banks' "Worst" Time Under Manmohan Singh-Raghuram Rajan: Finance Minister

India News | Edited By Debanish Achom | Thursday October 17, 2019

Finance Minister Nirmala Sitharaman has turned the tables on her macroeconomics opponents by pointing at a massive amount of bad loans in state-run banks when the United Progressive Alliance (UPA) was in power. She held "the combination" of former Prime Minister Manmohan Singh and former Reserve Bank of India Governor Raghuram Rajan responsible for...

IMF Cuts GDP Growth Forecast To 6% For 2019-20

Business | Indo-Asian News Service | Tuesday October 15, 2019

The IMF's outlook comes days after a World Bank report pegged India's growth rate in FY 2019-20 at 6 per cent, and the Reserve Bank of India's latest downward revision to 6.1 per cent.

SBI Begins Online Application Process For Specialist Cadre Officer (SCO) Recruitment

Jobs | Edited by Anisha Singh | Tuesday October 15, 2019

State Bank of India (SBI) has begun the online application process for the recruitment of Specialist Cadre Officer (SCO) advertised recently.

Wholesale Inflation At 0.33% In September

Business | Edited by Sandeep Singh | Monday October 14, 2019

The Reserve Bank of India (RBI) tracks consumer inflation primarily while formulating its monetary policy.

Over 200% Spike In Onion Prices Unlikely To Deter RBI From Rate Cuts

Business | Anirban Nag, Bloomberg | Monday October 14, 2019

Onions have a weight of 0.6 per cent in the overall inflation basket and contribute about 10 per cent to the vegetable basket. The inflation-targeting Reserve Bank of India expects food prices to stabilize, while forecasting headline inflation to stay well below its medium term target of 4 per cent for the rest of the fiscal year through March.

"Majoritarianism Taking India Down Dark, Uncertain Path": Raghuram Rajan

India News | Edited By Debanish Achom | Sunday October 13, 2019

Former Reserve Bank of India governor Raghuram Rajan in his latest criticism seen to be directed at the centre has warned of the ill effects of "divisive, populist majoritarianism". The former RBI governor whose policy thinking differs from that of the government led by Prime Minister Narendra Modi - Mr Rajan is a big critic of demonetisation - has...

"Justified Worries...": Finance Minister Speaks To RBI Chief On PMC Bank

India News | Edited By Debanish Achom | Saturday October 12, 2019

Finance Minister Nirmala Sitharaman today reached out to customers of the troubled Punjab and Maharashtra Cooperative (PMC) Bank amid concerns over long-term freeze on withdrawing funds from the bank. The Reserve Bank of India (RBI) - following demands from angry PMC Bank customers - had thrice raised withdrawal limit from Rs 1,000 to Rs 10,000 to ...

RBI Central Board Reviews Economic Situation, Co-Operative Banks

Business | Indo-Asian News Service | Friday October 11, 2019

The RBI Central Board met amidst weak growth estimates by global agencies and the RBI itself and also the recent fraud at the PMC Bank.

Foreign Exchange Reserves At New Life-Time High Of $437.83 Billion

Business | Press Trust of India | Friday October 11, 2019

The country's reserve position with the IMF also increased by $9 million to $3.61 billion, RBI data showed.

SBI Revises Fixed Deposit Interest Rates From Today

Business | Edited by Anshul | Thursday October 10, 2019

FD interest rates: State Bank of India FD rates have been lowered by 10 basis points (or 0.10 percentage point) across a select tenor in the retail segment.

As RBI Vetoes Lakshmi Vilas Bank, Indiabulls Housing Merger, What's Next

India News | Suvashree Ghosh, Bloomberg | Thursday October 10, 2019

Lakshmi Vilas Bank Ltd. said India's central bank rejected its proposal to combine with a shadow lender, a move that may delay its plan to raise capital.