Eurozone finance ministers approve reform proposals submitted by Greece

Eurozone finance ministers have approved reform proposals submitted by Greece in order to obtain a four-month extension of its bailout. The Eurogroup said it has agreed to begin national procedures, parliamentary votes in several states to give the deal final approval. The measures offered by Greece...

JP Morgan Chase unveils plans to eliminate hundreds of retail branches

JP Morgan Chase has unveiled plans to eliminate hundreds of retail branches and some 100 billion US dollar in deposits, according to a presentation ahead of an investor day. It also announced nearly 5 billion dollar in cost cuts in the next three years. The move comes as large banks continue to face...

India must cut fiscal deficit, deliver on reforms to upgrade ratings: S&P

The leading credit indexing agency Standard and Poor's has opined that India shall require four to five years to improve its rating. In a report released yesterday, it pointed out that the government must boost growth, cut its fiscal deficit and fulfill promises of financial and fiscal refo...

TRAI removes interconnection charges; Call tariffs may drop

In a bid to boost fixed line phone connections in the country, telecom regulator TRAI has removed charges that a landline service provider has to pay to the other service providers for transmitting its customers'phone calls. The move is likely to lead to lower tariffs. Now, calls made from ...

Turkey wants to be part of `Make in India' drive

Lauding the Narendra Modi-led Government for providing stability and predictability in policies, Turkey said it wants to be part of the 'Make in India' programme, which could help treble the currently low bilateral trade volume. In an interaction with PTI, the visiting Turkish Fina...

PSU bank employee unions withdraw strike call, settle wages

Employee Unions of public sector banks today withdrew their four-day nation wide strike proposed from the 25th of this month. The bank unions have called off their strike following an agreement with the management on 15 per cent wage hike in their pay-packets. At a meeting in Mumbai, PSU banks&a...

IBA agrees to meet bank unions on Monday to avert strike

The Indian Banks Association has decided to hold further talks with leaders of public sector bank unions who have given a call for four-day nation-wide strike from February 25. United Forum of Bank Unions (Maharashtra) and All-India Bank Employees Union vice-president Vishwas Utagi said that the IBA...

FDI almost doubled to $2.16 bn in December 2014

Foreign direct investment, FDI, in India almost doubled to 2.16 billion dollars in December 2014, compared to 1.10 billion dollars in the same month of 2013. The data by Department of Industrial Policy and Promotion showed that during the April-December period of current fiscal, FDI rose by 27 per c...

SBI to provide finance to small tea growers in Assam

RBI deputy governor warns banking sector to brace for higher attrition levels

RBI deputy governor R Gandhi has warned the banking sector to brace for higher attrition as the sector is being thrown open to niche and more private players. Addressing a seminar in Mumbai yesterday, Mr. Gandhi said he foresees the demand for expertise, knowledge and specialisation; adding that in ...