State Bank of India (SBI) will issue equity shares to the Union government on a preferential basis at Rs 2,191.69 a share. This includes a premium of Rs 2,181.69 on a share with a face value of Rs 10 each.

SBI to issue equity to govt

Business Standard

US banks pushed regulators to widen proposed restrictions on trading and hedge-fund ownership by foreign firms, then encouraged governments around the world to complain about the rule's reach.

Bank lobby widened Volcker rule before inciting outrage

Citigroup is looking to exit Housing Development Finance Corp (HDFC) completely. The financial major has invited bids to sell its entire stake, 9.85 per cent, on Friday.

Citi's HDFC stake on block for Rs 10,200 cr

State-run National Bank for Agriculture &amp; Rural Development (Nabard) has justified its restructuring and repositioning exercise, based on the recommendations of the Boston Consulting Group.

Repositioning will improve operations: Nabard

RBS paid its investment bankers an average of about 112,000 pounds ($176,108) each including salary, bonus and pension, spokeswoman Linda Harper said by phone on Thursday, a drop of 26 per cent from 152,000 pounds last year. Prime Minister David Cameron's government and the opposition Labour Party have made common cause in demanding pay restraint from banks bailed out.

RBS cuts investment banker pay

Royal Bank of Scotland Group Plc, Commerzbank AG of Germany and France's Credit Agricole SA booked losses on their Greek government debt two days after creditors agreed to the biggest sovereign restructuring in history.

RBS, Commerzbank, Credit Agricole take Greek hit after deal

Public sector Canara Bank is providing more thrust on loans to self-help groups in Andhra Pradesh as well as in the country. &ldquo;Our recovery percentage in SHG loans is more than 95, so we are giving more emphasis on lending to SHG groups,&rdquo; S Raman, chairman and managing director, Canara Bank, told mediapersons here on Thursday.

Canara Bank gives thrust on SHGs

The time is ripe for the Reserve Bank of India (RBI) to start the rate reversal cycle. economists say. This is because owing to a high base effect, inflation is expected to remain low for a few more months. Economists expect a cut in the repo rate, or the rate at which banks borrow from RBI, in at least one of the two policy review meetings scheduled for the March-April period.

RBI may cut rates on respite from inflation

ArthVeda Fund Management, the PE arm of Dewan Housing Finance Limited (DHFL), has tied up with Credit Analysis &amp; Research Ltd (CARE) to rate major investments by ArthVeda&rsquo;s new real estate fund ArthVeda Star, the Rs 200-crore real estate fund with a greenshoe option of Rs 100 crore.

Projects of DHFL's pvt equity fund to get CARE ratings

The Reserve Bank of India (RBI) today said the stress being faced by lenders from their exposures to the aviation sector is a &quot;manageable problem&quot;.

Aviation NPAs a manageable problem: RBI

Press Trust of India

The rupee today ended below 49-mark at 48.93/94 -- its three-week high level -- against the American currency on sustained dollar selling by exporters and some banks.

Rupee up 26 paise, ends at 3-week high

The government has nominated D K Mittal, secretary, Department of Financial Services, as a director on the board of Reserve Bank of India, the central bank said in a release.

Govt nominates DK Mittal on RBI board

India's foreign exchange reserves rose $56 million to $293 billion for the week ended February 17. According to the Reserve Bank of India, the increase was primarily aided by revaluation in foreign currency assets, which rose $87.5 million to $259.5 billion. The rupee rose from 49.41 to 49.27 per dollar during the week.

Forex reserves up $56 mn

Citigroup Inc, the third largest lender by assets in the US, on Friday sold its entire 9.85 per cent stake in the country&rsquo;s biggest housing finance company, Housing Development Finance Corporation (HDFC), for Rs 9,550 crore ($1.9 billion). The exit was meant to help the US bank shore up its balance sheet to meet the tighter Basel III requirements.

Citi exits HDFC with $722-million gain after tax

While lenders are keen on diverting basic banking facilities from the traditional branch model to the automated electronic route, the area needs more attention in terms of efficiency, according to the annual report on the banking ombudsman released by the Reserve Bank of India (RBI). The report also said call centres set up by banks to address customer grievances are not able to fulfil their objective effectively.

Concerns on ATMs, credit & debit cards top complaints

The MF Global saga could soon become a legal battle between hedge funds and the futures brokerage's shortchanged customers, with more than a billion dollars at stake.

Battle lines forming between MF Global customers, hedge funds

Reuters 

Global hedge fund assets may rise 12 per cent this year to a record $2.26 trillion, as investors reduce cash and seek returns, according to an annual survey of investors by Deutsche Bank AG. The industry may attract $250 billion of new capital this year, according to the survey. The number of investors with 10 per cent to 30 per cent of their holdings in cash is expected to halve in the next six months, helping free up $39 billion for potential hedge fund investments, the survey showed.

Hedge fund assets may see record rise 

Most Asian currencies strengthened this week, with the Thai baht climbing to a five-month high, as upbeat US economic data and monetary easing in China spurred demand for riskier assets.

Asian currencies rise this week on US recovery

IDBI Bank's infotech subsidiary on Saturday said it is in the process of partnering with business analytics software and services firm SAS to offer data mining and business analytics solutions to the banking sector.

IDBI Intech to offer data mining, business analytics solutions 

Leading brokerage firm Enam Securities has said it is hopeful of its sale to Axis Bank -- pending for the last 16 months -- going through before the end of the fiscal.

Enam Sec hopeful of RBI nod for Axis deal by FY12-end

The Reserve Bank of India (RBI) has said banks should ensure that loan defaulters are not put to embarrassment while debts are recovered.

Ensure borrowers are not put to embarrassment: RBI

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