Business & Economics
Banking
Business & Economics
Cut in repo rate may lead to cheaper home, vehicle loans
NEW DELHI (TIP): The cut in repo rate, measures to enhance liquidity in the banking system and the new methodology to calculate lending rates will give banks a freer hand in transmitting the reduction in […]
Indian Americans
Indian-American Girl Creates Doll to Reflect Ethnic Diversity
NEW YORK (TIP): An Indian-American Harvard University graduate has come up with a new series of seven dolls that represent common girls with ethnic diversity and celebrate them for their brains, talents and leadership. Neha […]
Africa
Bank of Baroda’s innovative approach to success
PROFILE At a time when majority of foreign banks in USA are struggling to cope with federal regulations, Bank of Baroda is forging ahead with innovative programs to help its customers. Not many banks can claim […]
Business & Economics
RBI relaxes norms for firms raising foreign funds for infrastructure
MUMBAI (TIP): The Reserve Bank on Wednesday relaxed overseas borrowings norms to help companies raise funds for infrastructure projects in the country. The central bank said it has reviewed the extant external commercial borrowing (ECB) […]
Indian Americans
Kamala Harris likely to become 1st PIO senator in US
LOS ANGELES (TIP): California‘s attorney general Kamala Harris may become the first Indian-American senator in the US Congress after she won Democratic Party’s endorsement for the seat. Harris (51) and Loretta Sanchez were vying for […]
Asia
Western retirees busted for playing bridge in Thailand
BANGKOK: Add aging western bridge players to the list of desperadoes in Thailand’s seaside resort of Pattaya, a sin city rife with prostitution, corruption and foreign and home-grown gangsters. The bridge players, mostly British but […]
United States
In taking economic war to Islamic State, US developing new tools
WASHINGTON (TIP): Since last month, US warplanes have struck Islamic State’s oil infrastructure in Syria in a stepped-up campaign of economic warfare that the United States estimates has cut the group’s black-market earnings from oil […]
Business & Economics
WORLD BANK SEES INDIA GROWING AT 7.5% IN FY16
NEW DELHI (TIP): The World Bank has maintained its growth forecast for the Indian economy for the current fiscal year and expects it to expand by 7.5% in 2015-16. It has backed implementation of three […]
Business & Economics
RBI allows NRIs to subscribe to National Pension System
MUMBAI (TIP): To enable Indians living abroad to access old age income security, Reserve Bank has allowed non-resident Indians (NRIs) to subscribe to the National Pension System (NPS). “It has now been decided, in consultation […]
Business & Economics
BARCLAYS NET PROFIT RISES AS NEW CEO APPOINTED
LONDON (TIP): British lender Barclays, fresh from appointing new chief executive James ‘Jes’ Staley, on Thursday logged rising third-quarter net profit boosted by its investment banking division. The appointment of 58-year-old American investment banker Jes Staley […]
Business & Economics
Indian American Ex-Goldman Banker to Plead Guilty in Regulatory Leak Case
NEW YORK: In a rare criminal action on Wall Street, an Indian-origin former Goldman Sachs banker suspected of taking confidential documents from a source inside the government has agreed to plead guilty. Goldman Sachs is also facing an array […]
Business & Economics
New accounting norms may add to banks’ bad loans
MUMBAI (TIP): There is a new twist to the issue of rising bad loans in the banking sector. Under the new global accounting norms that banks have to adopt from April 1, 2018, the gross level […]
Business & Economics
RELIANCE CAPITAL ANNOUNCES RS 150-CR ESOP SCHEME
MUMBAI (TIP): Financial services major Reliance Capital on October 15 announced a major ESOP scheme under which select employees across all major operating businesses would be granted stock options with a notional value of Rs […]
United States
HAB Bank Felicitates Muhammad Habib and Customers
NEW YORK CITY, NY (TIP): HAB Bank invited some key clients to a business lunch with Mr. Muhammad Habib (Owner of Habib Bank) on October 13th, 2015 at Junoon Restaurant in Manhattan. Mr. Saleem Iqbal, President […]
United States
US ex-speaker to plead guilty in hush-money case: Lawyer
CHICAGO (TIP): Former House Speaker Dennis Hastert intends to plead guilty in a federal hushmoney case linked to allegations of sexual misconduct from decades ago, his attorney told a federal judge on Thursday. Hastert, a […]
Business & Economics
AXIS BANK ADDS MOBILITY TO CORPORATE BANKING
MUMBAI (TIP): Axis Bank has become the first lender to offer corporates a mobile-based solution that fully integrates with the company’s own back-end computer networks. This offering, aimed at beefing up the bank’s transaction banking […]
Business & Economics
Business & Economics
RBI EASES NORMS FOR BANKS TO GRANT LOANS TO THEIR CEOs, DIRECTORS
MUMBAI (TIP): Reserve Bank relaxed norms for banks to grant certain loans to their CEOs and directors by doing away with the prior approval requirement. Section 20 of Banking Regulation Act, 1949 (B.R. Act, 1949) […]
Business & Economics
US court rejects plea for attachment of Sahara hotels
NEW YORK (TIP): In a relief to Sahara, a US court has rejected a plea seeking to attach the Indian group’s prized Plaza and Dream Downtown hotels here. Hong Kong-based JTS Trading had approached the […]
Business & Economics
Indian Americans
Chanda Kochhar & 2 Indian Americans Selected For Asia Game Changer Awards
NEW YORK: ICICI bank CEO Chanda Kochhar is among three Indians selected for this year’s Asia Game Changer awards given by Asia Society to honour “true leaders making a positive contribution to the future of Asia.” […]
Business & Economics
Indian American father-daughter Bankers team revolutionizes banking via mobile app
A mobile app launched by Indian American banker Jay Sidhu and his daughter Luvleen can revolutionise the global banking industry into completely phone-app based banking system, a media report said. Jay Sidhu, chairman and CEO of […]
India
Business & Economics
Global Indians – 13 Global CEOs
Prime Minister Narendra Modi has all along been appreciative of the struggles and achievements of NRIs. His close association with a number of NRIs all across the world is well known. There is no country in […]