Zurich Financial Services, Switzerland&rsquo;s largest insurer, agreed to pay as much as $2.1 billion for 51 per cent of Banco Santander&rsquo;s insurance business in Brazil, Mexico, Chile, Argentina and Uruguay.

Zurich to buy 51% of Santander's Latin America insurance unit

Business Standard

The Indian rupee opened 2 paise lower at Rs 45.28 per US dollar in early trade on the Interbank Foreign Exchange today amid foreign fund outflows.

Re falls by 2 paise against US dollar in opening trade

Press Trust of India

International Finance Corporation (IFC) will extend $50 million worth of loans to PTC India Financial Services for development of clean energy projects in the country.

IFC to extend $50 mn loan to PTC Financial

Country's largest lender State Bank of India (SBI) plans consolidation of remaining 5 associate banks with itself in the next 12-18 months.

SBI plans 5 associate banks merger in 12-18 months

Private sector lender Kotak Mahindra Bank today launched its' 300th branch and announced plans to reach the 500th branch mark by 2012 as part of its growth strategy to &quot;deepen and broaden its network&quot;.

Kotak Bank opens 300th branch, plans 500 by 2012

Rating agency Fitch today upgraded long-term rating of Indusind Bank by one notch on the back of its strong capitalisation and better asset quality management.

Fitch upgrades Indusind Bank on strong capital, asset quality

Country's two leading private sector lenders ICICI Bank and HDFC Bank today increased their lending rates by up to 50 basis points (bps), making home, auto and commercial loans dearer.

ICICI, HDFC Bank hike lending rates by up to 50 bps

&quot;We think interest rates are still on their way up. We see a movement of anywhere between 75 and 100 basis point from here in calendar 2011,&quot; said Executive Vice-Chairman and Managing Director Uday Kotak.

Interest rates may go up 75-100 bps in 2011: Uday Kotak

Take a host of initiatives to ramp up presence in rural markets.

Banks confident of meeting agriculture lending targets

The gross premium income of the general insurance industry increased 38.4 per cent in January as compared to the year before.

Gross premium income of general insurers rises 38%

The country&rsquo;s largest lender, State Bank of India (SBI), is planning to merge the remaining five associate banks with itself in the next 12-18 months.

SBI plans merger of 5 associate banks in 12-18 months: Govt

Entry of well-known groups, high returns are key attractions.

Restaurant chains turn hot picks for PE investors

State Bank of India (SBI) on Wednesday said it had not sought a blanket approval from the government for merging the remaining five subsidiaries with itself. SBI Chairman O P Bhatt said both the mergers done till now &mdash; State Bank of Indore and State Bank of Saurashtra &mdash; were with prior permission on a case-to-case basis from all the concerned bodies, such as the respective boards, the government and the Reserve Bank of India (RBI).

No blanket nod sought for mergers: Bhatt

Will be allowed to hedge, not as market makers, say draft norms.

RBI favours FII entry into credit default swap market

To fund infrastructure projects in the public-private-partnership model, the forthcoming Budget could lay down some broad contours on the setting up of debt funds, which will provide investment for the core sector. The sector is devoid of a long-term financing pattern owing to asset-liability mismatch fears among banks.

Guidelines on infra debt funds likely

Thane Janata Sahakari Bank Ltd. (TJSB), a multi-state scheduled bank, is planning to open 12 new branches at select locations by the end of next FY 2011-12. The Bank is eyeing 20 per cent year-on-year business growth for the next two years.

Thane Janata Bank to open 12 new branches by March 2012

IDBI Bank, which six years back had transformed into a universal bank, is betting big on North-East. Besides infrastructure sector, the bank has expressed its keenness to finance the region&rsquo;s MSME sector.

IDBI bets big on North-east infra, MSMEs sectors

Following the footsteps of bigger rival State Bank of India, the country&rsquo;s top two private banks, HDFC Bank and ICICI Bank, have decided to increase their lending rates by 45-50 basis points (bps) from Thursday.

Top private banks to raise lending rates by 45-50 bps

The Indian rupee fell by 14 paise to Rs 45.26 per US dollar in early trade at the Interbank Foreign Exchange today on sustained demand for the American currency and dollar gains overseas.

Rupee sheds 14 paise against $ in opening trade

Vijaya Bank is planning to raise Rs 368 crore through preferential allotment of equity shares.

Vijaya Bank to raise Rs 368 cr via preferential allotment

South-based Dhanlaxmi Bank today increased interest rates on term deposits by up to 3% depending on maturities.

Dhanlaxmi Bank ups deposit rates by up to 3%

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