Everything you need to know about Bank Street: news, reviews, in-depth analysis, opinion and more
Everything you need to know about Bank Street: news, reviews, in-depth analysis, opinion and more
The Reserve Bank of India is all set to cap banks' large exposure (LE) to each counterparty, including a group of connected counterparties, at 25 per cent of their Tier 1 capital. It has been come into light by the new announcement made by RBI.
Mumbai, May 3 (IANS) The share price of banking stocks fell sharply Thursday, a day after the Reserve Bank of India (RBI) announced guidelines for implementing Basel III norms that mandate lenders to keep aside a higher percentage of capital that may hit their profits.
Mumbai, May 3 (IANS) A benchmark index for Indian equities markets was trading 126 points down at around noon Thursday, led by selling pressure in auto, realty and banking stocks due to sluggish global cues.
Washington, May 3 (ANI): A senior aide to US Republican presidential contender Mitt Romney has reportedly said that British Prime Minister that David Cameron was 'taken for a ride' by Barack Obama when he praised the president during a recent visit to the White House.
London, May 3 (IANS/RIA Novosti) Britain has refused to grant political asylum to two former officials of a Moscow bank, after they were placed on the Interpol wanted list on charges of fraud involving government funds.
Paris, May 2 (ANI): French far-right leader Marine Le Pen has said that she would cast a 'blank ballot' in Sunday's presidential elections, delivering a strong message that she does not back either candidate.
New Delhi, May 2 (IANS) Finance Minister Pranab Mukherjee is scheduled to visit Manila this week to attend the annual board of governors' meet of Asian Development Bank (ADB).
Dhaka, May 2 (IANS) Bangladesh's foreign currency reserves rose to $10.19 billion in April after the International Monetary Fund (IMF) handed over the first instalment of its loan to the country.
New York, May 2 (ANI): The Dow Jones industrial average reached its highest close in more than four years following an accelerated growth in its manufacturing within 10 months, an industry survey firm has revealed.
Washington, May 2 (ANI): The roadshow for social networking giant Facebook's Initial Public Offering has been scheduled to start on Monday, according to a report.
Dubai, May 1 (IANS/WAM) The Emirates Islamic Bank announced Tuesday that its operating profits rose to 138 million dirhams (about $16 million) at the close of the first quarter of 2012.
Sydney, May 1 (IANS) Australian coach Mickey Arthur said Tuesday that former captain Ricky Ponting was very much in the reckoning to play in next year's Ashes series in England.
Colombo, May 1 (Xinhua-ANI): Sri Lanka's annual inflation rate rose to 6.1 percent last month reaching a seven-month high compared to 2011, showed latest data on Tuesday.
Colombo, May 1 (Xinhua-ANI): The mobile telephone users in Sri Lanka have increased rapidly over the year 2011 with more than 105 telephone connections for 100 people, a spokesman said on Tuesday.
Damascus, May 1(ANI): Deadly twin suicide bombings in Idlib, Northwest Syria have suggested the growing role of al Qaeda and radical Sunni Islamist groups in the ongoing protests, a report has said.
Colombo, May 1 (IANS) The mobile telephone users in Sri Lanka have increased rapidly over the year 2011 with more than 105 telephone connections for 100 people, authorities said Tuesday.
Sydney, May 1 (IANS) The Reserve Bank of Australia (RBA) announced Tuesday that it decided to cut the official interest rate by 50 basis points.
Manila, May 1, (Xinhua-ANI): Delegates have begun arriving at the Philippine International Convention Center to register for the Asian Development Bank's (ADB) 45th Annual Meeting of its Board of Governors, which begins Wednesday, a ADB statement said Tuesday.
London, April 30 (IANS) Millions of credit and debit card users could be "robbed by radiowave" because of a new contactless technology, the Daily Mail reported.
Bangalore, April 30 (IANS) State-run Vijaya Bank posted net profit of Rs.181 crore for the fourth quarter (January-March) of fiscal 2011-12, registering a whopping 235 percent jump from Rs.54 crore the same quarter an year ago (2010-11) and 46 percent increase sequentially from Rs.124 crore in third quarter (Oct-Dec) of FY 2012.
New York, Apr 30 (ANI): A mystery buyer has bought Katy Perry's luxurious, 1,500-square-foot TriBeCa duplex penthouse.
London, April 30 (ANI): Millions of shoppers are now able to buy goods by simply waving their card in front of a reader at the tills, even if it is still in a wallet or a purse, thanks to a new contactless technology being brought in by banks.
London, Apr 30 (ANI): British Prime Minister David Cameron has said that there was no agreement between him and media tycoon Rupert Murdoch to support News Corp's business interests in return for favourable coverage.
Mumbai, April 30 (IANS) Led by good buying support for information technology (IT) and bank scrips, a benchmark index for Indian equities markets was trading 76.94 points higher around the 2 p.m. trade session Monday.
Cairo, Apr 30 (ANI): Egypt's ruling military has said that it would appoint a new cabinet in the next 48 hours, apparently conceding to the Islamist-dominated parliament's demand for a new government.
Washington, Apr 30 (ANI): 'The Five-Year Engagement', pegged by some to rule the rankings, managed only a fifth-place debut at the weekend box office, while the surprise romantic-comedy hit 'Think Like a Man' was a surprise number 1 for the week in a row.
Mumbai, April 30 (IANS) Global ratings agency Moody's Investors Service said Monday it has placed on review India's three top private sector lenders ICICI Bank, HDFC Bank and Axis Bank for possible downgrade.
Mumbai, April 30 (IANS) State-owned Bank of India Monday reported an increase of 93 percent in net profit at Rs.952.73 crore for the quarter ended March 31 against Rs.493.64 crore during the like period of the previous financial year.
Mumbai, April 30 (IANS) A benchmark index for Indian equities markets was trading 160.85 points higher in the afternoon session Monday, led by good buying support for information technology (IT) and bank scrips.
Google has released a report in connection with the charge by US Federal Communicating Commissions enquiry
Lahore, Apr 29(ANI): Pakistan Prime Minister Yousuf Raza Gilani has said he does not need any opposition leader's permission to enter the National Assembly (NA), as he was a unanimously elected prime minister and member of parliament.
Cairo, Apr 29 (ANI): Saudi Arabia has closed its embassy in the Egyptian capital and recalled its ambassador in the wake of protests over the arrest of a human rights lawyer.
Washington, April 28 (IANS) The US Secret Service, disgraced by a prostitution scandal, Friday promulgated a set of new conduct guidelines for its agents, as it emerged that agents had in 2000 visited a Moscow nightclub known for raucous parties.
Moscow, April 28 (IANS/RIA Novosti) Ahead of a state visit to Russia by then president Bill Clinton, US Secret Service agents had visited a downtown Moscow nightclub known for raucous parties in 2000, the Wall Street Journal has reported.
New Delhi, April 27 (IANS) India remains the top recipient of money from diaspora as total remittance flow to the country is estimated to reach $64 billion in 2011, almost three percent of the country's gross domestic product (GDP), according to World Bank data.
Mumbai, April 27 (IANS) A benchmark index for Indian equities markets Friday closed flat amidst choppy trade. ICICI Bank emerged the top gainer after the private lender announced robust fourth quarter earnings.
London, Apr 27 (ANI): Michael Jackson's brothers are set to record their first new material together in almost 25 years after their summer tour, Jackie Jackson has revealed.
Mumbai, April 27 (IANS) India's largest private sector lender ICICI Bank Friday posted an increase of 31 percent for the quarter ended March 31 at Rs.1,901.76 crore due to a decline in bad debts.
Mumbai, April 27 (IANS) A benchmark index for Indian equities markets was trading 19.46 points down around 2.00 p.m. Friday. Amidst the choppy session of trade, ICICI Bank's scrip came out the top gainer after it lender announced robust fourth quarter earning results.
Chennai, April 27 (IANS) Tamil Nadu Chief Minister J.Jayalalithaa Friday urged Prime Minister Manmohan Singh not to raise the interest rates on loans provided under the Rural Infrastructure Development Fund (RIDF).
New Delhi, April 27 (ANI): The Asian Development Bank (ADB) has said India requires to fast-track reforms and cut down fiscal deficit to support a slowing economy.
Mumbai, April 27 (IANS) A benchmark index for Indian equities markets was trading 22 points higher in the afternoon session Friday, led by good buying support in ICICI Bank scrips on expectations of robust earnings.
London, Apr 27 (ANI): David and Samantha Cameron have finally hired an Australian traveller as a nanny, after conducting a series of long distance interviews over the Internet.
Washington, April 27 (IANS) The World Bank will open an office in Myanmar in June, a bank official said Thursday.
Hyderabad, April 26 (IANS) The Reserve Bank of India (RBI) will not stop banks from collecting charges for various services or insist on a minimum balance, as it is the choice of the customer where to open account, Deputy Governor K.C. Chakrabarty said here Thursday.
Finance Minister Pranab Mukherjee Wednesday stated that credit rating agency Standard & Poor's (S&P) recent move to lower down India's rating from balance to negative is a timely warning signal, but he however assured that it is not a panic situation.....................
Hyderabad, April 26 (IANS) India's financial system was strong and there was nothing to worry about, Reserve Bank of India (RBI) Deputy Governor K.C. Chakrabarthy said Thursday after Standard & Poor's (S&P) scaling down of the country's credit rating outlook to negative.
Manila, April 26 (IANS) The Asian Development Bank (ADB) approved $21.72 billion in financing operations to Asian developing countries in 2011, a 14.5 percent year-on-year increase, according to its 2011 Annual Report.
Washington, April 26 (IANS) Global food prices rose by eight percent in the first three months of 2012 due to higher oil prices, adverse weather and strong demand in Asia, the World Bank said in its latest Food Price Watch report Wednesday.
Mumbai, April 25 (IANS) Global ratings agency Standard & Poor's Wednesday cut its outlook to negative from stable on 11 financial institutions, including the top three banks State Bank of India, ICICI Bank and HDFC Bank, to negative from stable, but kept their ratings unchanged.
Islamabad, Apr 25 (ANI): The Supreme Court (SC) which resumed hearing of the Asghar Khan case, pertaining to the alleged distribution of funds by the ISI to politicians, declared the report submitted by the Interior Ministry as unacceptable, saying that the report was based on memories of Interior Minister Rehman Malik.
Rome, April 25 (IANS/AKI) Salaries in Italy have touched their lowest in real terms in almost 17 years, according to fresh data.
Mumbai, April 25 (IANS) A benchmark index for Indian equities markets was trading 117.57 points lower in the afternoon session Wednesday, affected by a decline in the shares of IT and power firms whose share prices came down by over 7 percent.
Washington, Apr 25 (ANI): United States-based rating agency Standard and Poor's has revised India's economic outlook to negative from stable, citing a slowdown in investment and economic growth and a widening in the current account deficit.
Colombo, April 25 (IANS) Sri Lanka will install meters in Colombo's public places to measure blood pressure of people, in a country where at least 350 die every day due to heart attacks, hypertension and respiratory diseases.
New York, April 25 (IANS) US stocks ended mixed Tuesday as investors weighed stronger-than-expected corporate earnings against lackluster economic data.
London, April 24 (ANI): The teenage belly dancer allegedly paid by Silvio Berlusconi for sex told a friend that the former Italian prime minister offered her to give all the money she wants and to cover her in gold to keep silence about their relationship, according to newly emerged wiretaps.
New York, April 24 (IANS) US stocks slipped Monday as investors were concerned about new developments in Europe's debt crisis and political turmoil.
Mumbai, April 23 (IANS) The State Bank of India (SBI), the country's largest lender, said Monday that it will cut interest rates on term deposits by upto 1 percent.
London, Apr 23 (ANI): The volatile relationship between Mick Jagger and Keith Richards is going to be made into a film.
Islamabad, Apr 23(ANI): Former Pakistan army chief General (retd) Mirza Aslam Beg has opposed the idea of forming a judicial commission to probe the distribution of secret funds to politicians and accused former Mehran Bank head Younus Habib of prolonging the matter by forming the commission.
New York, Apr 23 (ANI): The ensemble relationship comedy 'Think Like a Man' raked in a whopping 33 million dollars over the weekend box office, thus dethroning 'The Hunger Games' from the top spot.
Washington, Apr 23 (ANI): Michelle Obama has already outpaced former first ladies, such as Laura Bush and Hillary Clinton, in a number of TV appearances she's made over the first four years of a president's term.
Washington, April 23 (IANS) Finance Minister Pranab Mukherjee has rejected a suggestion from corporate America that a leadership "vacuum" was chipping away at India's investment climate and asserted that India has a "very powerful, strong and acceptable prime minister".
New Delhi, April 23 (IANS) The Indian economy and businesses are passing through difficult times due to lack of reforms and governance, but the sentiments are even worse than the reality, said Adi Godrej, chairman of the Godrej Group.
Washington, April 22 (IANS) In the face of US sanctions on Iran, India has significantly reduced its oil imports from the country, though rising oil prices have caused immense problems for the Indian economy, Finance Minister Pranab Mukherjee said here Sunday.
Washington, April 22 (IANS) Indian Finance Minister Pranab Mukherjee has urged lagging International Monetary Fund (IMF) members to move quickly to ratify quota and governance reforms that would give developing nations a greater voice in running the 188-nation global lender.
Washington, April 22 (IANS) Rejecting opposition charges of a policy paralysis on reforms back home, Finance Minister Pranab Mukherjee today that the United Progressive Alliance was going ahead with a series of reforms to spur the economy.
London, April 22 (ANI): A new study has suggested that anorexia may be triggered by a defect in the brain, offering new hope that the potentially deadly eating disorder can be treated.
Washington, April 22 (IANS) As the International Monetary Fund (IMF) doubled its lending power with over $430 billion pledged to a reinforced safety net to bail out countries during global financial crises, India stressed that contributions should be voluntary and not linked with future voice or governance reform and should be able to bail out "innocent bystanders" affected by them.
Washington, April 22 (Xinhua-ANI): The World Bank and the International Monetary Fund (IMF) have called for further efforts on inclusive growth and poverty reduction amid fragile global recovery.
London, April 22 (IANS) A convict on the run from a British jail was caught by police during a raid when it was found that he had framed his wanted poster by putting it on the wall of his hideout.
Chennai, April 21 (IANS) Privately-owned Yes Bank Ltd will train its focus on retail banking in order to grow its current account and savings account (CASA) portfolio, said a senior bank official here Saturday.
Film: '21 Jump Street'; Cast: Jonah Hill, Channing Tatum, Ice Cube; Director: Phil Lord and Chris Miller; Rating: ***1/2
Bhubaneswar, April 21 (IANS) Chief Minister Naveen Patnaik Saturday expressed shock over the murder i n the US of a 24-year-old student from Odisha.
Varanasi, Apr 21 (ANI): Bharatiya Janta Party (BJP) leader Murli Manohar Joshi on Saturday flayed the chief economic adviser Kaushik Basu for his remarks on economic reforms in the country, adding he was speaking the language of the International Monetary Fund (IMF) and World Bank.
New Delhi, April 21 (IANS) IDBI Bank Saturday reported a net profit of Rs.770.78 crore for the quarter ended March 31, against Rs.516.25 crore logged in the like period of the previous financial year.
Washington, April 21 (IANS) The International Monetary Fund has almost doubled its "fire power" to protect the world economy against deepening debt turmoil in Europe with the Group of 20 nations, including India, pledging $430 billion in new funding.
Washington, Apr 20 (ANI): Expressing concern over the current global economic scenario, Finance Minister Pranab Mukherjee on Friday said the G-24 nations will focus on job creation and effective social protection for the poor and the vulnerable.
Washington, Apr 20 (ANI): Following the controversy around the statement made at the Carnegie Endowment for International Peace on economic reforms in the country, Chief Economic Advisor, Ministry of Finance, Dr. Kaushik Basu on Friday clarified that the central message of his talk was the possible European crisis in 2014 and not India's 2014 general elections.
Shimla, April 20 (IANS) Himachal Pradesh Chief Minister Prem Kumar Dhumal Friday called for a cut in the interest rate on the National Bank for Agriculture and Rural Development (Nabard) loans saying high rates would hit rural projects in the state.
New Delhi, April 20 (IANS) The Deputy Chairman of the Planning Commission, Montek Singh Ahluwalia, Friday played down the row over Chief Economic Adviser Kaushik Basu's comment on the slow pace of economic reforms, saying reforms are always needed to be done and the government is focussing on bringing the economy back on track.
Washington, April 19 (Xinhua-ANI): The World Bank's Board of Executive Directors has approved in principle the creation of the Global Partnership for Social Accountability (GPSA), its latest effort to support civil society organizations (CSOs), the Washington-based Bank announced on Thursday.
Washington, April 19 (Xinhua): The global economic recovery is facing a critical moment although some optimism has returned in recent months, and collective global action is critical for sustaining the recovery momentum, World Bank chief economist Justin Yifu Lin has said.
Washington, April 20 (IANS) South Asia needs more political will to embrace regional trade cooperation for the benefit of the lagging region, said a senior World Bank official.
New York, April 20 (IANS) Bank of America Corp. released lower earnings for the first quarter Thursday, but the results still beat Wall Street's estimates as the credit quality improved.
Washington, April 20 (IANS) India has called upon G-20 nations, the world's top economies, to work out a "credible and ambitious" action plan to put the global economy firmly on the path of recovery as also promote strong, sustainable and balanced growth.
Mumbai, April 19 (IANS) Leading lenders including ICICI Bank and Punjab National Bank Thursday announced cut in both lending and deposit rates, just two days after the Reserve Bank of India lowered key policy rates.
Following the order of Finance Ministry to cut the lending rate as Reserve Bank of India, the master bank on Tuesday cut its policy rate more than expected to 50 basis points (bps), two state run and one private sector banks on Thursday announced to reduce their lending and deposit rates by 25 bps (0.25%)...................
Colombo, April 19 (Xinhua-ANI): Sri Lanka's Central Bank is under fire for allegedly rigging per capita income statistics to show a higher figure, a main opposition MP charged here on Thursday.
Cairo, Apr 19 (ANI): Former Egyptian foreign minister Amr Moussa has warned that if the Muslim Brotherhood's candidate wins the upcoming presidential elections, and if the political wing dominates the parliament, it may yield a one-party system that would brook 'no serious debate' in public.
Mumbai, April 19 (IANS) Private sector IndusInd Bank Thursday reported a 30.5 percent hike in net profit at Rs.223.38 crore during the quarter ended March 31 against Rs.171.16 crore in the like period of the previous financial year.
Paris, Apr 19 (ANI): French President Nicolas Sarkozy has lost ground to his Socialist Party opponent, Fran?ois Hollande, just days before the first round of voting in the presidential election, a latest poll has revealed.
Washington, Apr 19 (ANI): The 15 million dollar pay package of Vikram Pandit, Citigroup Inc. Chief Executive has been slammed by the bank's shareholders, who are demanding that it be toned down.
Washington, April 19 (IANS) Three out of five people in developing countries lack effective social safety net coverage as they struggle to forge ahead through global financial volatility and food and fuel price hikes, the World Bank said.
Washington, April 19 (IANS) A dozen US business groups have asked US Treasury Secretary Timothy Geithner to raise their concerns with New Delhi that some proposed changes in Indian tax laws, including retroactive tax collection, would spoil India's investment climate for them.
London, April 18 (IANS) Myanmar's pro-democracy campaigner Aung San Suu Kyi is to make a symbolic visit to Britain after accepting an invitation from British Prime Minister David Cameron.
Geneva, April 18 (Xinhua-ANI): The Swiss government on Wednesday announced its decision to extend its financial sanctions against Iran.
Washington, Apr 18 (ANI): The International Monetary Fund has warned that the European debt crisis might flare up again at any time and send the global economy back into deep recession.
Rio de Janeiro, April 18 (IANS) The brother of former Barcelona and AC Milan star Ronaldinho has been sentenced to five and a half years in jail after being convicted of money laundering.