After shaking up the banking industry with the merger of Centurion Bank of Punjab last month, private sector HDFC Bank is planning to start a non-banking finance company.
It's official: HDFC Bank will merge Centurion Bank of Punjab, a bank one-fifth its size in terms of assets, with itself in the biggest consolidation seen in private-sector banking in India in recent times.
The online banking service for Citizens Bank is currently down, and the following message has been posted: 'We are sorry that Citizens Bank Online is not available at this time.
Federal Bank, one of the largest in the old private banking space, is hunting for acquisitions and various strategic investments in financial services.
The Indian banking system has not been destabilised to the point where there is a compelling case to raise the threshold on bank deposit insurance, says Axis Bank chairman and CEO P J Nayak.