For commercial banks to float subsidiaries, approval from the Reserve Bank of India (RBI) may not remain mandatory, according to highly placed sources.
Consensus remained elusive on a common BRICS currency as business leaders from the five-bloc nations debated the pivotal issue at a business forum on the periphery of a summit of the five-member bloc being hosted here by South Africa. In their two addresses at the Summit so far, the leaders of Brazil, Russia, India, China and South Africa have made no or scant references to the issue either. "The BRICS Business Forum discussed the international payments system in detail. "Participants also debated the question of whether a BRICS currency is possible or desirable, with strong views expressed both for and against and little consensus reached," Sim Tshabalala, chief executive of Standard Bank Group, told several hundred captains of industry from the partner countries and over 40 other nations across the globe at the Summit.
'We started affordable housing loans that has good traction and the books have grown to Rs 750 crore as of the end of last quarter.'
Kallis is the latest high-profile name to be inducted in South Africa's coaching set-up after Mark Boucher's appointment as head coach
Cricket South Africa (CSA) on Monday announced a new partnership with dairy major Amul for the T20I series in India.
Bankers said India's structural story from medium to long term was intact and they were optimistic about the future.
The company agrees to give interim funding till the airline gets an equity partner
Speaking at the Business Standard Banking Round Table in Mumbai on Monday, five of the six bank chiefs said 'no' when asked whether RBI should raise rates in the second quarter review of the monetary policy on October 25.
Cricket South Africa (CSA) will honour Indian cricket legend, Sachin Tendulkar, at the historic Standard Bank International Pro20 match at the Moses Mabhida stadium in Durban on January 9, 2011.
Bollywood stars, Shahrukh Khan, Anil Kapoor and Priyanka Chopra will bid farewell to retiring South African fast bowler Makhaya Ntini at a glittering concert in Durban on January 9. The 33-year-old pacer has decided to retire from all forms of cricket.
The biggest challenge was the large government borrowings that are likely next year to finance the government's fiscal deficit, bankers said at the Business Standard Banking Round Table in Mumbai on Tuesday. According to initial estimates put out by the government, the fiscal deficit will be 5.5 per cent of gross domestic product.
The 34-year-old replaced Iftikhar Ahmed, who managed only 44 runs in four innings in the recent tour of Australia where Pakistan lost both Tests.
Reader Pradyumna sent us this picture from Johannesburg.
Cricket South Africa has instructed its players to return home after the India Test series to play the semi-finals and final of the Standard Bank Pro20 tournament before competing in the IPL.
The challenge for banks is to facilitate transactions among people who are part of the informal and cash-oriented economy.
Kundapur Vaman Kamath, managing director and chief executive officer of ICICI Bank, has been chosen Business Standard's Banker of the Year for 2005-06.
Under this service, SBI will give services in person or through remote mode.
The fast bowler announced his retirement from cricket after featuring in 33 Tests and 161 ODIs for India.
Total holdings of the top eight gold ETFs have risen by 3.8 million ounces so far this year
Rodney Hartman, a former sports editor of leading South African newspapers, will research and write it.
The Standard Bank had sent beef cubes in a promotional advertisement package to Hindu clients.
As a step to protect its interest as a lender, SBI will look at the financial stability and corporate governance practices in companies where it has exposure.
A Europe-like cyber security defence alliance is the need of the hour, say banking technology experts.
This week, as the I-T department scanned the deposits, reality hit them: Only a minuscule percentage of the Jan Dhan accounts had been used for money laundering.
The rouble has fallen about 45 per cent against the dollar this year.
CEOs of leading banks say third straight rate hike by RBI inevitable, though not desirable.
The official twists and turns have raised questions on the government's credibility and its ability to pull the nation out of the demonetisation quagmire. To keep up with the new rules, the government has issued an updated FAQ on demonetisation.
Say 30 days not enough to resolve stress; want higher provision norms deferred till economy picks up
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