The Indian rupee today moved further down by 18 paise against the US currency in opening trade on expectations of capital outflows by funds amid a weak dollar overseas.

Rupee down 18 paise at 47.85/ $ in opening trade

Business Standard

Employees of state-run banks continued their strike demanding higher wages for the second day today, hitting bulk cash and current account transactions, even as ATMs began running dry across the country.

PSU banks staff strike work for second day

Press Trust of India

Manipal (Karnataka)-headquartered Syndicate Bank is in the process of delisting its equity shares from the Bangalore Stock Exchange. The bank has already obtained the approval of the Board and the shareholders in this regard.

Syndicate Bank to delist from Bangalore Stock Exchange

The Royal Bank of Scotland(RBS), in which the British government has a majority stake, has posted a loss of 1.04 billion pounds for the first six months of 2009, bogged down by soaring bad debts.

RBS reports 1.04bn  pounds losses in H1'09

The Insurance Regulatory and Development Authority (IRDA) is thinking of increasing the lock-in period for Unit Linked Insurance Policies (ULIPs) by two years to five years. The regulator said it would help to bring down mis-selling.

IRDA for increasing ULIP lock-in period to 5 yrs

State Bank of India (SBi) plans to raise Rs 500-crore via perpetual bonds, a senior bank official said.

SBI to raise Rs 500-cr via bonds

Underscoring the need to improve banking facilities in rural areas, RBI today asked the banks to open more branches in the villages.

Open more branches in rural areas: RBI tells banks

India's largest bank, State Bank of India, today said that it was launching a three-month long home loan campaign at attractive interest rates and zero processing fee to facilitate home buyers during the forthcoming festival season.

SBI's launches 'My Home' campaign for home loans

Underlining the need for improving banking in rural areas, the Reserve Bank of India (RBI) today asked banks to open more branches in the villages.

Open more branches in rural areas: RBI to banks

A two-day strike by public sector bank employees demanding higher salaries ended today after nearly crippling business and retail transactions, but bankers were still unhappy with a 17.5 per cent wage hike offered by the management.

PSU banks employees strike ends

The lender has also announced reduction of one percentage point in lending rates for automobile loans.

IDBI lowers interest rates on deposit, auto loans

Swinging into the black for the first time in two years, embattled insurer American International Group (AIG) has posted a second-quarter profit of $1.8 billion.

AIG back in the black; reports $1.8 bn Q2 profit

Hitting out at rivals offering home loans at low interest during early years of credit period, mortgage leader HDFC today warned artificial rates could lead to a crisis like the US housing collapse.

HDFC warns teaser type home loans could lead to crisis

IDBI Bank has taken an initiative to strengthen its base in the mid-corporate, SME and retail sectors without compromising its pre-eminent position in the corporate banking business.

IDBI Bank aims to enhance base in SME, retail sectors

The country's third-largest public sector lender Bank of Baroda (BoB) today said it is open to overseas acquisition if a good opportunity comes across.

Bank of Baroda open to overseas acquisition

A Reserve Bank of India (RBI) occasional paper has mooted a special fund for self help groups (SHGs) to deal with regional imbalances in credit disbursement to poor, particularly in the eastern and central regions of the country.

RBI occasional paper moots for special funds for SHG

Insurance regulator Insurance Regulatory and Development Authority (IRDA) is ready with the final guidelines on corporate governance for the sector focusing on key areas such as lock-in period for promoters, whistle blowing policy, governance structure and disclosures.

IRDA sets rules for corporate governance for insurers

The Indian rupee today appreciated by 10 paise to 47.74 against the dollar in early trade on expectations of increased capital inflows as stock markets may open on a strong note in line with other Asian bourses.

Rupee up 10 paise at 47.74/$ in early trade

No interest will accrue on the bonds after September 25,2009 and the book closure of the 54th series will be observed with effect from August 26,2009, a bank press release said.

IDBI Bank announces repayment of 11.5% SLR bonds

The country's largest lender, State Bank of India (SBI), today said it is likely to start its general insurance business by March next year.

SBI may start general insurance biz by March 2010

The government has invited applications for the post of Chairman and Managing Director (CMD) of the Export Import Bank of India (Exim Bank).

Govt invites application for CMD of Exim Bank

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