State-owned bank officers' union in India calls strike over mergers

Workers at India’s state-owned banks called a nationwide strike on Friday in protest at proposed mergers that could cause job losses and demanded immediate wage rises.The strike organised by All India Bank Officers’ Confederation (AIBOC), impacted...

Christian Michel

India extradites UK businessman in AugustaWestland scam

Christian Michel, 57, is a British businessman who has been extradited to India to face prosecution for alleged bribery in connection with New Delhi’s $720m acquisition of 12 VIP helicopters. On Tuesday night, while Sushma Swaraj, India’s foreign...

According to data compiled by ratings agency ICRA, Indian banks are set to report a fresh spike in bad loan numbers based on new RBI norms that require lenders to classify loans, henceforth restructured as non-performing assets.



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