ICICI Bank has doubled the minimum quarterly average balance to be maintained in a savings account to Rs 10,000 from Rs 5,000 now. 


ICICI Bank doubles balance for SB account

Business Standard

Kotak Mahindra Bank today said companies, which have reaped the benefits of derivatives deals in the past, should not blame banks when the deals have not been favourable to them. 


Can`t blame banks for derivatives loss: Kotak

<P>Finance Minister P Chidambaram said the Reserve Bank of India (RBI) will take appropriate steps to contain inflation, which had surged toan over three-year-high of 7.41 per cent by the end of March.

RBI to take apt steps to tame inflation: FM

Amid the global debate on sovereign wealth funds (SWFs), Reserve Bank of India Governor Y V Reddy has said that India is still weighing the pros and cons of setting up a government investment vehicle

Weighing pros and cons of SWF: RBI

Mangalore-based public sector Corporation Bank today launched Corp Shelter, the reverse mortgage loan scheme for senior citizens. Under the scheme, a borrower over 60 years of age can borrow a

Corporation Bank launches reverse mortgage scheme

Centurion Bank of Punjab has entered into an agreement with the India Post to provide foreign exchange services in Kolkata.


Centurion forex through post offices

RBI move aimed at curbing inflation, FMC too joins fight against price rise.


Credit flow to traders may tighten

Indias money, bond and currency markets have been stable and may be immune to the global credit crisis, according to Reserve Bank of India (RBI) Governor Yaga Venugopal Reddy in New York yesterday.

Markets not vulnerable to global crisis: Reddy

Standard and Poors today said India was largely insulated from problems posed by the financial crisis and the slowdown in the United States, but added that it had to grapple with its own set of

Local issues to impact India more: S&P`s

GE Moneys tie-up with Life Insurance Corporation for cards has not gone down well with State Bank of India. While SBI and GE Money have had a decade-long cards joint venture, the global giant in

GE`s tie-up with LIC for cards irks SBI

The government has asked the Reserve Bank of India to review the pending cases of alleged violation of the Foreign Exchange Regulation Act so that these can be dealt with under the more liberal

Relief in Fera cases likely

Norms for deposit-taking NBFCs need a fresh look, says RBI.


Policy review for NBFCs on the anvil

It is boom time for actuaries as demand for them is growing, especially from insurance and outsourcing companies. It is estimated that there is a 20-25 per cent shortfall of actuaries in the country.

Actuary shortfall hits insurers, BPOs

The Reserve Bank of India deputy governor, V Leeladhar on Thursday said that the derivative deals, some of which are locked in legal disputes, do not pose any systemic risks. 


Derivatives deals don`t pose any systemic risks, says RBI

The Hyderabad High Court yesterday said that the ICICI Bank cannot treat as non-performing assets the amount of money Hyderabad-based NCS Sugars owes the bank on account of losses on foreign exchange

HC to ICICI Bk: Derivatives loss not NPA

There may not be any legal obstacles to the State Bank of Saurashtras (SBS) merger with the State Bank of India (SBI) but it is the United Progressive Alliances (UPAs) political compulsions that

SBI-SBS deal hits political roadblock

State Bank of India (SBI) and ICICI Bank, the nations two biggest banks, will be worst hit by the central banks decision to increase the amount of cash they must hold with it, according to a Goldman

CRR hike to hit ICICI Bank, SBI most, says Goldman

Axis Bank today reported a 70.56 per cent increase in net profit during the fourth quarter of 2006-07 to Rs 361.4 crore mainly due to a steady rise in interest and fee income. 


Axis Bank Q4 net up 71%

Finance Minister P Chidambaram on Tuesday said that the government has received a proposal from the Prime Ministers Council on Trade &amp; Industry for setting up a $5 billion sovereign wealth fund.

PM`s council wants $5 bn sovereign wealth fund: FM

<P>Oriental Bank of Commerce (OBC) reported a loss of Rs 99.44 crore in the fourth quarter of 2007-08 compared to a net profit of Rs 54.86 crore in the corresponding quarter, as it wrote off the losses incurred by the erstwhile Global Trust Bank, which was merged with the public sector bank in 2004.

GTB write-off pushes Oriental Bank into loss

Indian Bank today reported near flat net profit growth during the fourth quarter of 2007-08 at Rs 241.67 crore compared with Rs 235.30 crore during the quarter ended March 31, 2007. During the period,

Indian Bank Q4 net flat at Rs 241.67 cr

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