Government said ICICI and HDFC are not Indian banks

The government on Friday said ICICI Bank and HDFC Bank cannot be called Indian-owned banks after a debate over the nationality of India’s top two private sector lenders. “At best, the two can be called as Indian-controlled banks,” said R P Singh, secretary of Department of Industrial Policy and Promotion, who had been asked by…

Banks refuse to give details on Satyam’s accounts……

Bankers of scam tainted Satyam Computer on Friday declined to comment if the IT major’s accounts have been frozen, citing client confidentiality. “We cannot comment on the matter due to client confidentiality,” the Citi Bank spokesperson said, responding to reports that the lender has frozen 30 trade receivable accounts of the Hyderabad headquartered software firm.…