Sir Osborne Smith was the first governor of the Reserve Bank, serving from April 1, 1935, to June 30, 1937.
Citibank on Wednesday joined the list of foreign banks that have exited retail banking business in India. Mumbai-based Axis Bank completed acquisition of Citigroup's consumer business for Rs 11,603 crore. Under the deal, Axis acquired consumer banking businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans.
Citi Bank on Wednesday joined the list of foreign banks that have exited the retail banking business in India as the US-based banking giant announced selling its consumer banking portfolio to Axis Bank for an estimated Rs 12,325 crore. Global banking majors such as ANZ Grindlays, RBS, Commonwealth Bank of Australia have scaled down their operations in India. In a mega-deal announcement on Wednesday, Axis Bank and Citibank said their boards have approved acquisition of Citibank's consumer businesses in India by Axis Bank.
Commonwealth Bank of Australia on Wednesday opened its first Indian branch in Mumbai and became the only Australian bank to operate a full Indian banking licence.
Rediff readers tell us how they dress up while working from home.
Murali Venkatraman tells us how he met his Bengali wife Lalita.
A leading Australian bank announced on Thursday Ravindra Parankushan as chief executive of its Indian operations, as the financial institution prepares to open its first branch in Mumbai next year.
Controversy and Andrew Symonds can never be too far apart it seems with the latest being allegations that the Australian cricketer used his autographed bat to get a seven-figure loan sanctioned before investing the money in a failed company.
The price eclipsed the A$425,000 achieved by the late Don Bradman's baggy green when it was sold in 2003.
The exit of CBA comes hard on the heels of a court decision on Wednesday revoking the Australian government's environmental approva
Environmental campaigners say they hope two outstanding court cases can still stop India's Adani Enterprises Ltd from developing a A$10 billion ($7.6 billion) coal project.
The company has battled opposition from green groups since starting work on the project five years ago
Adani, which estimates its project will generate more than A$22 billion ($15.6 billion) in taxes and royalties, has yet to line up funding but is sticking to a late 2017 start date.
Adani's Carmichael project has been stuck in the approvals process for the past five years.
The incident, which Australian captain Steve Smith said involved senior players hatching a plan to tamper with the ball during a game against rival South Africa, also threatens to upset current negotiations over broadcast rights.
Market meltdown and volatility pushed many traders to the sidelines.
If indeed the issues involved between the government and RBI are of immense public interest, why not make public the arguments of both the government and the RBI, irrespective of the outcome of the process, says Tamal Bandyopadhyay.However, the Act is silent on what happens if the governor's views differ from that of the government. If Patel does not want to budge from his stance the government can either see merit in the Governor's arguments and decide against going ahead with its plan or overrule him. My guess is that the issues raised by the government need to be sorted out not at the November 19 board meeting but between the Governor and the government, says Tamal Bandyopadhyay.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
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