19 cooperative banks in India go insolvent during 2008-09...Read more
Security, Privacy and Cost major barriers to adoption of mobile banking, says KPMG's survey...Read more
RBI asks banks in India to make RTGS transactions more customer friendly...Read more
FSF issues recommendations and principles to boost global financial systems...Read more
Inter-Bank usage of ATMs becomes free in India from 1st April 2009...Read more
Basel Committee taking steps to strengthen global regulation of banking sector...Read more
Indian Financial Sector Self Assessment Report finds System Broadly Robust...Read more
IMF overhauls lending framework and create new Flexible Credit Line (FCL)...Read more
RBI asks banks to make higher provisions for non performing assets (NPAs)...Read more
Reserve Bank of India, completes 75 Years, celebrates the year 2009-10 as its Platinum Jubilee Year.... click here
Shri V.P. Iswardas assumes charge on 21st Dec 2009 as Managing Director & Chief Executive Officer of Catholic Syrian Bank for 3 years. The bank has a pan India presence of 364 branches. Shri Iswardas with more than 33 years of experience was earlier functioning as Chief General Manager of CSB since April 2007.
Dr. Kaushik Basu joins as Chief Economic Advisor, Department of Economic Affairs, Ministry of Finance. He will hold this post from 8th Dec 09 in the rank of Secretary to the Government of India. Before this assignment, Dr. Basu was Chairman of the Department of Economics, Cornell University, USA. He has done his Ph.D in Economics from London School of Economics. Dr. Basu was awarded Padma Bhushan in 2008 and has extensively written on various issues relating to economy, trade, economic theories and development.
Mr. Keki M Mistry is the new Vice Chairman and Chief Executive Officer of HDFC Ltd w.e.f. January 1, 2010. Mr. Deepak S. Parekh will continue to be the Chairman of HDFC Ltd. Mrs. Renu Sud Karnad has been appointed as the Managing Director of the Corporation for a period of 5 years. Mr. V. Srinivasa Ranganhas been appointed as the Executive Director of HDFC Ltd.
Dr. Subir Gokarn takes over as Deputy Governor of the Reserve Bank of India
...Read more
Hemant Kaul, executive director of Axis Bank will join Bajaj Allianz General Insurance Company Ltd as managing director and chief executive officer effective from 1st December 2009.
Shri K.R. Kamath has been appointed by Govt. of
India as Chairman & Managing Director of Punjab National Bank from 28th October 2009 for a period of 5
years. Earlier, he was Chairman & Managing Director of Allahabad Bank. He will join
PNB tomorrow. Shri Kamath joined Corporation Bank as an Officer Trainee in 1977. Shri Kamath has been instrumental in bringing in perceptible change in corporate governance of Corporation Bank, Bank of India and Allahabad
Bank.
Mr. Deven Sharma, President of Standard & Poor's (S&P), has been appointed Chairman of the Board of Directors of CRISIL Ltd (CRISIL). Mr. Sharma took over as President of S&P in 2008. Earlier, in 2007, he joined S&P after five years at
The McGraw-Hill Companies as executive vice president in charge of global strategy.
DBS Group Holdings has appointed Piyush Gupta, 49, as Chief Executive Officer (CEO). Mr Gupta spent over two-thirds of his 27-year career in South East Asia and Hong Kong, including eight years in Singapore. Gupta is currently Citi’s CEO for South East Asia-Pacific. In this role, his responsibilities encompass all of Citi’s businesses including Financial Markets, Corporate and Investment Banking, Transaction Services, Credit Cards, Retail Banking and Wealth Management.
President Obama has confirmed his nomination of Ben Bernanke for another 4 year term as Chairman of the US Central Bank. Mr. Bernanke has been praised for taking action to bail out failing banks, which Mr. Obama believes has limited the effects of the economic crisis. Ben S. Bernanke was sworn in on February 1, 2006, as Chairman and a member of the Board of Governors of the Federal Reserve System. He was appointed as a member of the Board to a full 14-year term, which expires January 31, 2020, and to a four-year term as Chairman, which expires January 31, 2010.
Shailendra Bhandari, previously head of Centurion Bank of Punjab, has been appointed the Managing Director and Chief Executive officer of ING Vysya Bank for three years. He was also executive director and treasurer at HDFC Bank and MD & CEO at ICICI Prudential MF.
Mr Alok Kumar Misra, presently CMD of Oriental Bank of Commerce has been appointed Chairman and Managing Director of Bank of India.
Standard & Poor's has named Roopa Kudva as Region Head for South Asia. This is in addition to
her current responsibilities as Managing Director & Chief Executive Officer of CRISIL,
Ms. Kudva joined CRISIL in 1992 and was appointed head of its ratings business in 2000,
before becoming Managing Director & CEO of the company in 2007.
T S Narayanasami appointed Managing Director and Chief Executive Officer of United Stock Exchange of India (USE), the newest exchange opened for trading in financial derivatives by 12 banks. Mr Narayanasami has been Chairman of Bank of India, Andhra Bank and Indian Overseas Bank besides having been the Executive Director, Punjab National Bank.
President, Smt. Pratibha Devisingh Patil, presented the Indira Gandhi Prize for Peace, Disarmament and Development for the year 2007 to Mr. Bill Gates on the behalf of the Bill and Melinda Gates Foundation on July 25, 2009. Prime Minister, Dr Manmohan singh complimented Bill and Melinda Gates for their inspiring leadership and their deep humanism.
S. Vishvanathan assumes charge as Managing Director & CEO of SBI Capital Markets...Read more
Former Reserve Bank deputy governor Rakesh Mohan will join consulting firm McKinsey as a part-time global advisor from October 2009. Rakesh Mohan left Reserve Bank in June 2009, to join Stanford Centre International Development as a distinguished consulting professor.
Shri Jitendra Nath Gupta took charge as Executive Director, Securities and Exchange Board of India on July 09, 2009. Shri Gupta has held senior positions in State Bank of India, Grasim Industries Limited, Indo Gulf Fertilisers and Kazstroy Service Group.
Shri B. Sambamurthy, took over as Director, Institute for Development and Research in Banking Technology, on November 12, 2008. Prior to taking over as Director, Shri Sambamurthy, held the position of Chairman and Managing Director of Corporation Bank.
Shri Deepak Mohanty has been appointed Executive Director of the Reserve Bank of India with effect from October 13, 2008. Shri Mohanty has been given charge of Department of Economic Analysis and Policy (DEAP) and Department of Statistics and Information Management (DSIM).
Raghuram Rajan has been appointed honorary economic advisor to the Indian Prime Minister...Read more
Finance Secretary Duvuri Subbarao will be the next Governor of Reserve Bank of India...Read more
Mr. R. Ravimohan, Managing Director and Head of Standard & Poor’s, South and Southeast Asia, has been appointed Chairman of the Board of CRISIL. Dr. Nachiket Mor, President, ICICI Foundation for Inclusive Growth, has joined the Board as Independent Director.
Dr. Y.V. Reddy, Governor, RBI has been conferred the Honorary Fellowship of the London School of Economics and Political Science, London (LSE).The other prominent Honorary Fellows of the LSE from India include Prof. Sir Partha Dasgupta, Prof. Lord Desai, Mr. Nitin Desai, Dr. Jagan N. Khosla, Prof. Kakkadan N. Raj, Prof. Amartya Kumar Sen and Dr. Ratan N. Tata.
Mr C.B. Bhave is appointed the new Chairman of Securities and Exchange Board of India (SEBI) for three years.
...Read more
Reserve Bank of India credit policy announced on 29th April 2008, keeps repo rates unchanged but CRR is hiked by 25 bps to 8.25%.... For Full Text click here
The Reserve Bank of India on 28th April 2008 released the document “Macroeconomic and Monetary Developments in 2007-08”.... click here
Reserve Bank of India hikes cash reserve ratio (CRR) by 50 bps to 8% in two stages
.... click here
The Reserve Bank of India on 28th January 2008 released the document “Macroeconomic and Monetary Developments: Third Quarter Review 2007-08” to serve as a backdrop to the Third-Quarter Review of the Annual Policy Statement for 2007-08.... Click here
RBI announces the Mid term Review of its Annual Policy Statement for 2007-08 on October 30, 2007. Bank Rate, Repo Rate and Reverse Repo Rate kept unchanged. However CRR increased by 50 basis points to 7.5 per cent effective fortnight beginning November 10, 2007.... Click here
The Reserve Bank of India on 29th October 2007 released the document “Macroeconomic and Monetary Developments: Mid-Term Review 2007-08” to serve as a backdrop to the Mid-Term Review of the Annual Policy Statement for 2007-08 .... Click here
Banknet India 'Report on the Indian ATM Industry', has compiled a list of precautions for users to avoid an ATM fraud...Read more
Reserve Bank of India has announced revised guidelines for the implementation of the new capital adequacy framework
...Read more
Helpline for Credit Card Customers- A Special Feature...Read more
ZDNet Asia has announced its ZDNet Asia Smart50 2006 award winners, selected by an independent panel of judges, which included Anurag Khanna, MD & CEO of Banknet India...Read More
Banknet India's Exclusive Interview with
Finance Guru and co founder of the Quantum Fund JIM ROGERS ... Read More
For Special Section on Capital Account Convertibility in India
.....click here
Should foreign companies be allowed to borrow from domestic banks to fund acquisitions in India? Existing guidelines bar companies from outside India from borrowing from domestic banks, to buy a stake into a company in India. A Debate .....Read more
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