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

Press Trust of India

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

Bolstered by a four-fold jump in treasury gains, India's top 12 banks clocked a 55.2 per cent jump in net profits in the quarter ended June 30, but high cost of funds hit their net interest margins, rating agency CARE said in a report today.

Top 12 banks clock 55% jump in Q1 net: CARE

The Indian rupee today depreciated by 22 paise to 48.02 against the US dollar in early trade on expectations of more capital outflows and dollar demand from importers.

Rupee depreciates by 22 paise in early trade

The Indian rupee today depreciated by 20 paise to trade at almost two-week low of 48.16 against the $ for the second straight session in early trade on importers' demand for the US currency, which was also strong against other Asian currencies.

Rupee at two-week low, falls by 20 paise in early trade

Former ICICI Bank veteran Shikha Sharma will take home a hefty pay packet as Axis Bank Managing Director and CEO that will be in excess of Rs 2 crore a year, if one counts allowances and other perquisites.

<b>Axis Bank Chief Shikha Sharma to get Rs 2 cr package</b>

To track terror funding, the Reserve Bank of India (RBI) has directed banks to submit reports on accounts relating to persons and organistions having links with Al-Qaeda terror group that includes underworld don Dawood Ibrahim and Lashker-e-Taiba Chief Hafeez Saeed.

RBI asks banks to report suspect transactions

At the current market price of Rs 870.55 per share, the bank is expected to mobilise about Rs 940 crore from its promoters.

Axis Bank to raise Rs 940 cr from promoters

The Indian rupee today depreciated by another 21 paise to trade at 48.15 against the $ on sustained capital outflows amid heavy $ buying.

Re falls by 21 paise in early trade

Saving for the future in insurance, provident fund and pension schemes may get more attractive with a higher relief at Rs three lakh against the present provision of Rs one lakh if the proposed Direct Taxes Code becomes a law.

Greater incentives for savings in new tax code

Following State Bank of India's footsteps, Punjab National Bank (PNB) today slashed home and car loans by 50 basis points.

PNB cuts home, car loan rates by 50 bps

An expected recovery in the bank credit in the next few months may push up interest rates in the later part of the current fiscal, a top foreign banker today said.

Interest rates likely to move up this year: Kidwai

HSBC InvestDirect today said its Singapore-based wholly owned subsidiary IL&amp;FS Investmart Asia Pacific will surrender the capital markets services license granted by the Monetary Authority of Singapore.

HSBC InvestDirect's S'pore arm to give up dealing rights

Bank of Baroda (BoB) is planning to raise about Rs 1,500 crore in the next seven months from bonds to meet capital requirement.

BoB to raise Rs 1,500 cr from bonds in FY10

India's foreign exchange reserves fell for the week ended August 7 to $271.239 billion compared to $271.641 billion in the year-ago period.

Forex reserves down at $271.239 bn

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