Banknet India

Asian Banks have commenced preparations for Pillar2

Financial Insights Survey indicates that 90% of Asian Banks have commenced preparations for Pillar 2 (Basel II).

Summit to address the challenges in new age banking

Banknet CTO-CXO Summit to address the challenges in New Age Banking and Technology on 15th May 2008 at Mumbai.

Indian Government completes the Budgetary Exercise

The Finance Bill, 2008 receives the assent of the President of India and both the Houses of Parliament.

Banknet institutes Excellence Awards for bankers

Banknet Excellence Awards to be launched at CTO-CXO Summit on 15th May 2008 at Mumbai.

Defaults in U.S. to accelerate through 2008

U.S. Corporate defaults rev up as leverage unwinds says Standard and Poor's

Federal funds rate reduced to 2 percent

U.S. Federal Reserve in the seventh rate cut since September 2007, lowered the federal funds rates by 25 basis points.

RBI announce Annual Policy Statement 2008-09

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%.

Macroeconomic and Monetary Developments 2007-08

Macroeconomic and Monetary Developments 2007-08 released as a backdrop to Reserve Bank of India's Annual Policy Statement being announced on April 29, 2008.

Joint Forum releases Risk Concentrations paper

Paper highlights critical issues in firms ability to identify risk concentrations.

Banks to engage correspondents to extend services

Banks in India permitted to engage correspondents to extend banking services.

Measures suggested for improving SME credit

Reserve Bank of India has released Report of Working Group on Rehabilitation of Sick Small and Medium Enterprises.

Steps announced to strengthen the banking system

The Basel Committee has announced steps to strengthen the resilience of the banking system.

Citi reports first quarter net loss of $5.1bn

Citigroup Inc. reported a net loss for the 2008 first quarter of $5.1 billion, or $1.02 per share.

Facilitating Setting Up and Doing Business in India

Banknet has released the revised and updated second edition of its Bestselling publication 'Doing Business in India' which is available on www.banknetindia.com.

Indian Insurance Sector poised for 200% growth

Indian insurance sector is likely to register 200% growth and attain a size of Rs. 2000 bn by 2009-10, says assocham.

Indian mutual funds to sell government securities

SEBI allows mutual funds in India to sell government securities.

Reserve Bank of India hikes CRR by 50 bps to 8%

Reserve Bank of India has hiked cash reserve ratio (CRR) by 50 bps to 8% in two stages to contain inflation.

Global credit quality worsens in first quarter 2008

Overall credit quality for corporate, sovereign, and banking debt issuers on a global basis worsened says Moody's Investors Service.

Banks lack enterprise approach to fraud management

TowerGroup makes a case for enterprise approach to fraud management by Financial Institutions.

Revision in Differential Rate of Interest Loan Scheme

Eligibility for availing bank loan under DRI Scheme increased by Reserve Bank of India.

Higher defaults in Indian unsecured personal loans

Fitch Ratings expects delinquencies in the Indian unsecured personal loan sector to increase.

SEBI modifies provisions related to company directors

Securities and Exchange Board of India (SEBI) has made modifications to Clause 49 of the Listing Agreement.

Operational Risk Management market to reach $1.55bn

According to Chartis Research the operational risk management (ORM) market will grow to $1.55bn by 2011.

HSBC tops Forbes list, Citigroup slips to 24th rank

HSBC has jumped two places to top the latest Forbes 2000 list of the world's largest companies.

Core Banking system modernization is key to success

Banks should replace core banking systems to stay competitive, says Capgemini's new study.

Indian Mutual Funds can now invest US$7 bn overseas

Reserve Bank of India has raised the overall limit for overseas investment by domestic mutual funds to $7 billion.

Credit Risk Transfer Market-growth and innovation

The Joint Forum has released for consultation a paper on Credit Risk Transfer.

SBI first Indian issuer to tap Malaysian bond market

State Bank of India MYR500 million fixed-rate notes assigned 'BBB-' rating by Standard and Poor's.

Current challenges in the global financial markets

Financial Stability Forum (FSF) meet in Rome to discuss the current challenges in financial markets.

US Mortgage Fraud: Types,Trends and Detection Tools

Losses resulting from mortgage fraud in US will reach $2.5 billion in 2008, according to TowerGroup.

India to remain fastest growing IT Services country

India to remain the fastest growing IT Services country in Asia Pacific, according to a report.

Banking hours extended for the annual closing

Banking hours extended for annual closing of government accounts and tax payments.

Indian Govt creates Farmers' Debt Relief Fund

Indian Government creates Farmers' Debt Relief Fund with initial corpus of Rs. 10,000 crore.

Guidelines on Recovery Agents engaged by banks

Reserve Bank of India issues second draft of Guidelines on Recovery Agents engaged by banks.

Into the mind of the Indian ATM User

Banknet has launched 'ATM User Survey 2008', which is being conducted online on www.banknetindia.com.

Banknet Group expands its own consulting wing

After almost a decade in the industry, Banknet Group expands its own consulting wing.

US Fed reduce rates sixth time in six months

US Federal Open Market Committee has lowered federal funds rate 75 basis points to 2-1/4 percent.

Subprime write-downs could reach $285 billion

Subprime write-downs could reach $285 billion, but are likely past the halfway mark, says Standard and Poor's.

Banknet India launches Campus Zone

Banknetindia.com has launched Campus Zone, a collaborative platform for colleges.

Appointment of NGOs as Micro Insurance Agents

IRDA has clarified on appointment of NGOs as Micro Insurance Agents.

BPO sector to strengthen security at workplace

Nasscom to further strengthen work parctises and security in the Indian BPO sector.

Indian Banks and Basel II norms, a study

With capital adequacy intact, Basel II norms overlooked by NPA ridden Indian banking sector, says a Assocham study.

IMF on dealing with the global financial turmoil

IMF has outlined actions to address global financial and economic challenges.

Use of other bank ATMs in India to be free

Reserve Bank of India has laid down a framework of uniform service charges for ATM usage.

SBI now has the second largest branch network

State Bank of India (SBI) has become the second bank in the world to have more than 10,000 branches.

Revised norms for classification of banks

RBI has amended the definition of Tier I banks for regulatory purposes.

Puducherry to get a Regional Rural Bank

Indian Union Territory of Puducherry will get a Regional Rural Bank, sponsored by Indian Bank.

Norms announced for Letters of Comfort by banks

RBI has announced prudential norms for issuance of Letters of Comfort (Loc) by Indian banks to their subsidiaries.

Indian fiscal improvement remains firmly in place

Indian budget suggests that fiscal improvement remains firmly in place, but are slower than expected, says Fitch Ratings.

Indian Industry Associations welcome Budget 2008

Industry associations have generally welcomed Indian Union Budget 2008-09.

Indian IT-BPO industry disappointed with Budget 2008

Indian IT-BPO industry has expressed their disappointment with the Indian Union Budget 2008.

Finance Minister presents Indian Union Budget 2008

Finance Minister, Shri P. Chidambaram presented Indian Union Budget 2008 on 29th February 2008.

Optimism, but with caution as the watchword

Optimism, but with caution is the watchword of Indian Economic Survey 2007-08, says Finance Minister, Shri P. Chidambaram.

Indian Economic Survey tabled in Parliament

Indian Economic Survey 2007-08 presented on 28th February 2008 has projected GDP growth to be 8.7%.

Despite populist overtones,a good budget

Despite the populist overtones due to compulsions of election, Indian Railway Budget 2008-09 is a good budget.

Fitch Ratings on HDFC Bank affirmed

Fitch Ratings has affirmed HDFC Bank ratings post merger announcement.

Indian Railway Budget 2008-09 presented

Shri Lalu Prasad has presented Indian Railway Budget at Lok Sabha (Parliament) on 26th February 2008.

HDFC Bank Rating unaffected by proposed merger

Standard and Poor's ratings and outlook on India's HDFC Bank not immediately affected by proposed merger.