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About 25 results for "Direct And Commercial Bank"

'Govt banks rarely take note of RBI directives'
Rediff.com

'Govt banks rarely take note of RBI directives'

'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.''PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.' IMAGE: Central Bureau of Investigation agents escort a Punjab National Bank employee allegedly accused of steering fraudulent loans to companies linked to billionaire jeweller Nirav Modi outside a Mumbai court, March 3, 2018. Photograph: Francis ... Rediff.com, 3 weeks ago

Exclusive: RBI turns up heat on lenders after $2 billion loan fraud

NEW DELHI/MUMBAI (Reuters) - The Reserve Bank of India has asked commercial lenders to provide it with details of all letters of undertaking - a form of credit guarantee at the centre of an alleged $2 billion fraud - issued by them in the past several years, ...
 Reuters1 month ago
Rediff.com

Canara Bank to shut three overseas branches

And will sell its 50 per cent stake to State Bank of India in Russia as part of rationalisation of overseas branch network. Canara Bank will close its three foreign branches - Leicester (UK), Bahrain, and Shanghai - and sell its 50 per cent stake to State Bank of India (SBI) in Russia as part of rationalisation of overseas branch network.   Rakesh Sharma, bank’s managing director and chief executive officer, told Business Standard that the board of directors had given a nod for ...
 Rediff.com1 week ago

Home loans taken before April 2016 now cheaper

Consumers who took home loans before April 1, 2016, will pay lower interest rates from Sunday. This is because of commercial banks shifting to a new methodology of setting interest rates, based on the directives of the Reserve Bank of India (RBI). Under the ...
 Deccan Herald2 weeks ago
Rediff.com

Why FY18 was a defining year for India Inc

The financial year ending Saturday saw such big-ticket events that set the directional tone for the country’s business journey.  Illustration: Uttam Ghosh/Rediff.com. Beyond the hoopla on buoyant markets, the big bank scam at Punjab National Bank, the roll-out of the goods and services tax, leadership changes at two of the country’s respected companies, Infosys and the Tata group, the bloodbath in the telecom sector, and some known companies going belly-up, the last financial ...
 Rediff.com3 weeks ago

Finally, Urijit Patel opens up on banking frauds, crony capitalism and the RBI's limited authority

The over $ 2-billion-dollar Punjab and National Bank (PNB) scam involving Nirav Modi and Mehul Choksi had led to many questioning the Reserve Bank of India's failure to stop the misuse of the SWIFT (Society for Worldwide Interbank Financial Telecommunication) ...
 Sify1 month ago
Rediff.com

SC bars foreign law cos, advocates from practising in India

The apex court, however, said foreign lawyers could not be barred from coming to India and conduct international commercial arbitration proceedings.  The Supreme Court has ruled that foreign law firms may not set up offices in India and nor may foreign lawyers practise in Indian courts. They may only give advice to Indian clients on a ‘fly-in and fly-out’ basis. And, if they do it on a regular basis, it would amount to practice of law.  The court directed the central ...
 Rediff.com1 month ago

Naval chopper tender: AgustaWestland withdraws plea from HC on bank guarantee

Italian helicopter manufacturer AgustaWestland has withdrawn from the Delhi High Court a plea against invocation by the Indian Navy to buy 56 naval utility choppers.of its Rs 3-crore bank guarantee deposited to bid for a tender floated The company withdrew ...
 Deccan Herald2 months ago

Xi Jinping's Speech in Focus; L&T;, ICICI Bank Among Top Stocks in Action Today

Posted by Equitymaster Indian stock markets ended higher on Monday taking cues from their Asian counterparts. The S&P BSE Sensex ended at 33,788, up 162 points while the broader Nifty 50 index settled at 10,379, up 48 points. Among sectoral indices, the Nifty ...
 Equitymaster.com1 week ago

Google integrates State Bank of India on to payments app Tez

State Bank of India announced that it has officially partnered with Google Tez to bring it’s services to the search giant’s UPI based payments app. This will allow customers of India‚Äôs largest commercial bank to transact money and make payments ...
 Medianama1 month ago
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