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India’s Largest Bank, the State Bank of India reported Q4FY11 PAT of Rs 209mn, 99% below consensus, primarily on lower NII, higher costs and provisions.

SBI has hiked lending rates by 100 bps (50 bps higher than other banks a catch-up rather than a proactive measure) in 1QFY2012 to offset some of the pressure in margins witnessed. The bank has now fully provided for pension liability of Rs117bn on account of wage hike Rs79 bn through reserves and Rs24.7 bn through profit and loss account during the

India’s central bank RBI argues for interest rate deregulation on savings account deposits which currently carries interest rates of 3.5% and has not been changed since March 1, 2003. According to the discussion paper,

it is necessary that all rates move in tandem with the policy rates and the regulated savings rate has adversely affected the transmission of monetary policy. The RBI has not provided any time frame for the deregulation. Given the discussion

Read moreRBI for Regime of Free Savings Bank Interest Rate

In the Monetary Policy Review, the RBI clearly stated it is concerned about the Twin Deficit-s Current Account as well as Fiscal. The RBI expected the overall current account deficit for 2010-2011 to be about 3.5% of GDP. It noted ‘A CAD of this magnitude is not sustainable.’ The RBI was also concerned about the financing of the current account deficit since the faster-than-expected global recovery may enhance the attractiveness of investment opportunities in

Mobile banking was a solution that fit developing world needs like a glove. Most developing countries have suffered from low penetration of banking and electronic cash. The model is being led by various types of entities: banks, mobile companies and third-party aggregators. In India, the push for mobile banking is coming from the banking regulator committed to financial inclusion.

The biggest GameChanger for mobile banking will be its ability to converge the twin objectives

We have obtained the list of all Private Sector Banks in India.

There are 25 private sector banks in India which are categorized by the RBI as Old Private Sector Banks and New Private Sector Banks. The 18 Old Private Sector Banks are as follows,

• Bank of Rajasthan [ Merger with ICICI going on]
• Bharat Overseas Bank
• Catholic Syrian Bank
• City Union Bank
• Dhanlaxmi Bank
• Federal Bank

Read moreList of Private Sector Banks in India

Nationalized Banks also known as Public Sector Banks Or PSU Banks are the Banks where Government of India has direct control in ownership and management. Advantage of banking with these financial institutions is that they don’t have hidden charges like most Private Sector and Foreign Banks do.

India has 26 Nationalized Banks and Here is the list of  these Banks where you can conduct your business,