India's banking system strong amid turmoil in global markets: PM Modi

New Delhi: India's economic and banking systems remain robust, even in the midst of the current turmoil battering global markets, Prime Minister Narendra Modi said on Saturday.

Indian Govt to reduce public sector banks from 12 to 5 : Report

New Delhi/IBNS: The Indian government has decided to privatise more than half of public sector banks to reduce their number to just four or five, a Reuters report said.

Indian Banks Association sends proposal to govt, RBI for setting up of 'Bad Bank'

Mumbai/IBNS: Indian Banks Association (IBA) has sent a proposal to set up a 'Bad Bank' to the Finance Ministry and the Reserve Bank of India (RBI), said a CNBC-TV18 report. A Bad Bank is named so as it houses all bad loans or non-performing assets.

RBI cuts repo rate to boost economy, ensures stability of Indian banking system

Mumbai: The Reserve Bank of India on Friday slashed the repo rate by 25 basis points to 5.15% in a bid to revive the sagging economy.