India has pitched for a sovereign credit rating upgrade with Fitch Ratings
Deceleration in credit growth to the industry was seen in all major sub-sectors, except construction, beverages and tobacco and mining and quarrying.
Cash-strapped SpiceJet's troubles seem to be far from over as the AAI has agreed to extend credit facility to the airline only for 15 days till December 31.
Top private sector lender HDFC Bank has said a merger with parent HDFC makes sense in long-run, but there is no proposal on the table and regulatory clarity is required to make such a deal "more beneficial".
Having cut its deposit offering by up to 0.50 per cent, the country's second-largest private sector lender HDFC Bank will be cutting its lending rate by March, a top official said today.
India's largest public sector lender State Bank of India (SBI) has cut interest rates of three retail term deposits below Rs 1 crore by 25 basis points with effect from December 8.
Two of the biggest private sector lenders ICICI Bank and HDFC Bank have effected a cut of up to 0.50 percent in term deposit rates following tepid credit growth and ease in money market rates.
Bank credit continued its tepid growth yet again, notching up a low 11.17 per cent to Rs 62,72,621 crore.
The US growth was a clear function of the loan growth in the pre-financial crisis years. Now that the loan growth has slowed down so has economic growth. Can this growth return?
Prime Minister Narendra Modi had launched this ambitious scheme of financial inclusion on August 28.<br />
In an email to bank officers and staff, he hailed their contribution in "successfully" rolling out the scheme but added a word of caution against slackening.<br />
The Jan Dhan scheme was announced by Prime Minister Narendra Modi during his Independence Day address and was formally launched on August 28.<br />
The US-based firm has also raised the rating outlooks on 10 other Indian banks and financial institutions to stable from negative.<br />
The existing account holder need not open another bank account to avail of benefits under Pradhan Mantri Jan Dhan Yojana
On the asset quality, he said the Indian banking system is probably going through the most challenging time on the whole non-performing asset side.<br />
The main features of the Jan Dhan Yojana include a Rs 5,000 overdraft facility for Aadhar-linked accounts and a RuPay Debit Card with an in-built Rs 1 lakh accident insurance cover.<br />
The first phase of Pradhan Mantri Jan Dhan Yojana (PMJDY) is scheduled to be completed by January 26, 2015, as against original plan of August 15, 2015.<br />
The benefit of Pradhan Mantri Jan Dhan Yojana (PMJDY) can be extended to existing account holders without opening a new account.<br />
Currently, ONGC and Oil India share the fuel subsidy burden with the government on an ad-hoc basis as decided by the government