Citigroup Inc, the third-biggest US bank by assets, will let managers of its hedge funds own part of the business, ahead of rules that limit shareholders&rsquo; cash in the unit, said chief operating officer John Havens.

Citi managers to own part of hedge fund unit

Business Standard

As part of its programme to infuse liquidity, the Reserve Bank has bought bonds worth Rs 9,857.42 crore through open market operations (OMO) against a target of Rs 10,000 crore.

RBI buys bonds worth Rs 9,857 cr under OMO

Press Trust of India

After rising for two years, interest rates have finally started softening, providing the much-needed relief to retail customers.

Home, study loans become cheaper

Inflation is likely to be in the range of 6.5-7.6% during next few months and the moderation is expected to prompt the Reserve Bank to cut policy rates by 100 basis points during 2012, according to global finance major Citigroup.

RBI may cut interest rate by 100 bps in 2012: Citi

State-owned Indian Bank has introduced account portability feature which allows its customers to retain the account number even if they change the branch.

Indian Bank introduces account portability facility

To prop up the sagging home loan market, state-run lenders Central Bank of India (CBI) and Bank of Maharashtra (BoM) have announced interest rate cuts by up to 0.25% on select loans and to waive off the processing fee.

2 banks cut home loan rates by 0.25%, waive fee

With a couple of auctions remaining in the government&rsquo;s market borrowing plan for the current financial year, higher demand for the papers may help keep the yields in check, say traders.

Bond yields may ease on demand

China&rsquo;s central bank cut the amount of cash banks must hold in reserves on Saturday, boosting lending capacity by an estimated 350-400 billion yuan ($55.6-$63.5 billion) in a bid to crank up credit creation as the world's second-biggest economy faces a fifth successive quarter of slowing growth.

China acts to crank up credit as economy slows

State-owned Syndicate Bank today said it would raise up to Rs 539 crore through issue of preferential shares to the government of India.

Syndicate Bank to get Rs 539 cr fund infusion from govt

With Interbank Mobile Payment Service (IMPS) in place, banks are now leveraging their existing corporate clientele to replace day-to-day cash dealings at the ground level with mobile transactions.

Mobile banking seeks boost

The Punjab National Bank (PNB), India&rsquo;s second largest bank, has done a business of Rs 14500 crore till December, 2011, registering a growth year-on-year growth of 24 per cent in Uttarakhand.

PNB shows 24% growth in Uttarakhand

A Reserve Bank panel on priority sector lending today recommended retaining the existing 40% ceiling for the segment while creating a sub-head of micro enterprises within the micro and small enterprise (MSE) sector.

RBI panel for retaining priority sector target at 40%

In mid-2011, with the US economy at risk of a new recession, top Federal Reserve officials began to explore a different way to shore up the recovery: looking for fixes for the battered housing market.

Fed's housing blueprint lost in political din

Reuters 

The Reserve Bank of India said on Tuesday that banks need to maintain additional liquid assets as part of Basel III guidelines, over and above previously mandated levels.

Higher liquidity must for Basel III: RBI

State Bank of India (SBI), the country's top lender, has not given fresh loans to debt-crippled Kingfisher Airlines, an official said, denying reports that the state-owned creditor was close to offering a bailout loan package.

No fresh loans given to Kingfisher: SBI

Foreign banks may soon have to bring their targets for lending to the priority sector on a par with the targets of domestic banks. The M V Nair Committee, constituted for re-examining and suggesting revised guidelines for priority sector lending, has said it is time the differential treatment between foreign and domestic lenders on priority sector lending is brought to an end.

Foreign banks must raise targets: Panel

During its interactions with banks, the M V Nair Committee, set up to review priority sector norms, found most wanted to do away with the 40 per cent priority sector lending obligation.

Banks wanted to do away with 40% priority sector target

Thrissur-based South Indian Bank (SIB) has revived its plan for a qualified institutional placement (QIP) of Rs 1,000 crore. The bank has decided to complete the issue in the current financial year, according to sources.

South Indian Bank to launch QIP by March

As a liquidity crunch continues in the banking system, the Reserve Bank of India (RBI) has said it will consider infusing liquidity by further reducing the cash reserve ratio (CRR) to help banks tide over the deficit.

RBI open to another CRR cut, says Gokarn

UBS AG's decision to become first-confessor as regulators probe the alleged manipulation of interest rates will ratchet up the risks for other banks that set the benchmark for $360 trillion of securities worldwide.

Whistleblower UBS in Libor probe

Rating agency Fitch on Tuesday downgraded Dhanlaxmi Bank's subordinated debt (Rs 17 crore) to 'BBB-' from 'BBB' as the old-generation private lender posted a net loss in the third quarter.

Fitch cuts Dhanlaxmi Bank rating

Finance News: Latest investing news and finance headlines straight from Business Standard.

Page 1881 - Finance News