Indian Banking Industry Updates - February 28, 2011
February 28, 2011‐ New Delhi, India
- Indian Union Budget 2011-12 highlights:
- Government to recapitalize Public Sector Banks by infusing Rs 6000cr to enable public sector banks to maintain a minimum of Tier I CRAR of 8 per cent
- Rs. 500 crore to be provided to enable Regional Rural Banks to maintain a CRAR of at least 9 per cent as on March 31, 2012
- Public sector banks to achieve a target of 15 per cent as outstanding loans to minority communities under priority sector lending at the earliest
- Target of providing banking facilities to all 73,000 habitations having a population of over 2,000 to be completed during 2011-2012
- Amendments proposed to the Banking Regulation Act in the context of additional banking licences to private sector players.
- Bank Of Baroda has informed the Exchange that the Bank has decided to revise rates of interest payable on Domestic Term Deposits of the Bank w.e.f. March 01, 2011.
- Punjab National Bank has informed the Exchange that Shri M.A. Antulay and Shri G.P. Khandelwal, Directors on the Board of the Bank appointed under Clause (3)(h) of Section 9 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 read with sub-clause (1) of Clause 3 of the Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970 ceased to be Directors on the Board of the Bank w.e.f. February 27, 2011 on completion of tenure of three years.
Other top banking news
- Bharatiya Mahila Bank aims at adding 55 new branches in FY 2014-15 (March 11, 2014)
- Indian banking sector to be hit with Microsoft withdrawal of support for XP (March 4, 2014)
- Withdrawal of old Currency Notes in circulation in India (February 22, 2014)
- Linking of MNREGS with the Banking System (February 22, 2014)