The central bank's staff had gone on one-day leave to press for better retirement benefits and restoring the RBI's powers on monetary policy and public debt management.
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RBI said on Thursday investors seeking to buy at least 5 percent in shares or convertible debt of a private sector bank in the country will first need to obtain its approval, as it seeks to tighten the criteria for ownership of lenders.
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The bailout of Lloyds and its rival, Royal Bank of Scotland, caused Britain's public debt to balloon, prompted lasting public outrage at bankers, and triggered a revamp of British financial regulation
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The British bank is also removing a head of global electronic trading for foreign exchange-related misconduct, the New York Department of Financial Services (NYDFS) said. The person's identity was unclea
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Payworld has proposed to install cash out facilities (Chota ATM) at all the retail outlets under its coverage who show interest
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Standard Chartered Plc named Zarin Daruwala, a senior banker at India's ICICI Bank, as new chief executive of its India operations on Tuesday as the British bank looks to halt rising losses on loans in the country
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New business models, enabled by digital technologies, are helping banks write a new rulebook for what is possible
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Eight investment banks including HSBC and ICICI Securities and SBI Capital have submitted bids to manage a 10-percent stake divestment in state-owned Coal India, IFR reported, citing a person close to the deal. The stake sale, valued at about $3.2 billion at the current stock price, is part of New Delhi's aim to raise 695 billion rupees ($10.52 billion) by March by selling minority stakes in government-owned companies. Other investment banks who have submitted bids for the share offering are Axis Capital, Elara Capital, Edelweiss, Kotak Investment Banking and JM Financial, IFR, a Thomson Reuters publication, said. The Department of Disinvestment, which oversees stake sales in state firms, and all eight banks did not immediately respond to Reuters request for comment. The deadline for submitting bids for Coal India share sale was extended thrice as global investment banks came under pressure from environmental groups to steer clear of the share sale, sources told Reuters last month.
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