HSBC Holdings on Wednesday said it would sell a part of its cards and retail services businesses in the US to Capital One Financial Corporation for $32.7 billion in a cash-and-shares deal. The move is in line with the bank's decision to streamline its non-strategic businesses.

HSBC sells credit card and retail services businesses in US

Business Standard

Transactions worth Rs 7,191 crore were carried out using credit cards in the country in June, 2011, translating into a growth of 30% over the same month last year.

Credit card transactions up over 29% in June

Press Trust of India

The nation's largest lender State Bank of India (SBI) today hinted at increasing both its lending as well as deposit rates, following the recent 50 basis points tightening by the Reserve Bank of India (RBI).

SBI hints at rate hikes

Bank of Baroda (BoB) today said it was expanding its overseas presence in Kenya, Uganda, Australia, New Zealand and Gulf countries with 15 more foreign branches by March 2012 despite economic uncertainty in the US and Europe.

Global uncertainties not to impact overseas expansion: BoB

Country's top two lenders State Bank of India (SBI) and ICICI Bank today announced a hike in lending rates by 50 basis points each, making their home, auto and corporate loans dearer.

SBI, ICICI Bank up lending rates by 50 bps

Tells banks monetary tightening will continue; food inflation nears 10%.

RBI dashes hopes of pause on rate hikes

Rather than cheap money promise, experts say markets want cues on US action to address debt and deficit levels over long term.

Little new comfort from Fed assurance 

It feels eerily familiar: Stocks are plummeting. The economy is slowing. Politicians are scrambling to find solutions but are mired in disagreement.

Financial turmoil evokes comparison to 2008 crisis

HDFC RED (Real Estate Destination), an online information hub for the buyers of residential properties, has added Nashik city on its portal that will provide information of residential properties in the city on its portal.

Nashik properties on HDFC Red's portal

State Bank of India (SBI), the country&rsquo;s largest lender, has scaled down the requirement of funds from the government for its proposed rights issue.

SBI scales down rights issue proposal

The country's top two banks, State Bank of India (SBI) and ICICI Bank, on Thursday announced 50-basis point increases in their minimum lending rates, or base rates, to 10 per cent. The rate rises are effective from Saturday.

SBI, ICICI Bank raise base rates by 50 bps to 10%

Gold loan provider Manappuram Finance plans to raise Rs 750 crore through the sale of secured redeemable non-convertible debentures (NCDs), with an over-allotment option of Rs 350 crore at 12 per cent for 400 days, and up to 12.2 per cent for two years.

Manappuram Finance to raise Rs 750 crore 

The stage is set for the country's top two private banks to test their skills in pursuit of market share. After consolidating its balance sheet for 18 months, ICICI Bank now plans to be more aggressive, while HDFC Bank is in no mood to allow its bigger rival regain lost market share.

ICICI, HDFC banks battle for mkt share

The Union government&rsquo;s chief economic adviser, Kaushik Basu, on Thursday said India's credit rating could rise relatively after the recent US sovereign rating downgrade, as India may attract investments if the domestic economy continues to strengthen.

US downgrade could boost India's credit rating, says Basu

The Reserve Bank of India&rsquo;s transferable surplus dipped by 20 per cent to Rs 15,009 crore for the year ended June. This is the second time in a row that the central bank has reported a drop in the surplus, which is transferred to the government.

RBI surplus profit dips 20%, liquidity overhang blamed

The Insurance Regulatory Authority of India (Irda) today made it mandatory for insurers to seek prior approval in case of stake transfer to domestic entities or financial institutions and set guidelines for seeking approval.

Irda releases norms for stake transfer by insurance firms

Country's second-largest private lender HDFC Bank has decided to raise its lending rates by 50 basis points in line with its peers making its home, auto and corporate loans more expensive.

HDFC Bank to raise lending rates by 50 bps from tomorrow

Thrissur-based gold loan company Manappuram Finance Ltd expects no impact from rising prices of the precious metal.

Gold prices not to impact M'puram margins

The six largest US money market funds have eliminated their lending to Italian and Spanish banks, reduced investments in French banks and are favoring Swiss securities for their $511 billion of assets.

US money funds shun Italian, Spanish banks

Public sector Canara Bank is eyeing an increase in its business portfolio in Uttar Pradesh to Rs 25,000 crore in the current financial year.

Canara Bank eyes Rs 25,000-cr business portfolio in UP

The Reserve Bank of India (RBI), which is accused of hurting growth by a spree of policy rate increases, on Friday said economic expansion may be slower due to the tight monetary policy in the short term, but there was no question of a long term trade-off between the two.

No trade-off between growth, inflation, says RBI

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