Trading pattern of Raj Rajaratnam, founder of Galleon Group, was consistent with information that was already available to investors before the hedge fund billionaire allegedly received inside information, a witness testifying on behalf of the defence told a court.

Rajaratnam's trades based on available info: defence witness

Press Trust of India

Cheque transactions worth over Rs 7.97 lakh crore were carried out in the country during February, 2011, a growth of over 2.5% from the same month last year.

Cheque deals up 2.5%, tad shy of Rs 8,00,000 cr 

The premiums are being revised after a gap of four years, the sector watchdog Insurance Regulatory and Development Authority (Irda) said, adding, from now onwards the third-party motor insurance premium rates would be revised annually.

Third-party motor insurance premiums to go up by 65% 

National Insurance Company today said it has clocked a 32.32% growth in its total premium income to Rs 6,115 crore in 2010-11, with major business coming from health and motor segment.

Nat Insurance FY11 premium income up 32% to Rs 6,115 cr

The headline inflation (WPI) stood at 8.98% for March, much above the RBI's projection of 8%, fuelling speculation that the central bank may go in for another hike in the repo (lending) and reverse repo (borrowing) rates.

RBI may hike key rates by 25 bps

The Reserve Bank of India has said global rebalancing will require deficit economies to save more and consume less, while depending more on external demand.

Global rebalancing needs deficit economies to save more: Subbarao

Business Standard

State-run Indian Overseas Bank (IOB) raised $ 500 million (around Rs 2,250 crore) by way of senior unsecured bonds under its medium term note (MTN) programme of $ 1 billion (around Rs 4,490 crore), on April 12, 2011 through its Hong Kong branch.

IOB raises $500 mn in bonds

Yields on the new 10-year benchmark 7.80 per cent bond are expected to stay around eight per cent in the fortnight before the Reserve Bank of India (RBI) announces its annual monetary and credit policy for the current financial year.

Yields to stay sticky

State Bank of India (SBI), the country&rsquo;s largest lender, is set to increase its base rate &mdash; the benchmark rate for all loans &mdash; by 25 basis points.

SBI to make loans dearer, others to follow suit

Experts say the Rs will continue to rise against the dollar.

S&P US debt downgrade spooks world markets

HDFC Bank today reported net profit of Rs 1,114.7 crore for the quarter ended March 31, a rise of 33.2 per cent compared with the net profit of Rs 836.62 crore in the year-ago period. The rise in profit was fueled by accelerated growth in non-interest income. Stable margins, growth in interest income and lower provisions also contributed to the bank's earnings.

HDFC Bank fourth quarter net rises 33%

HDFC Bank today said its board had approved a 5-for-1 stock split to increase retail participation in the bank's shares. One equity share of the bank with a nominal value of Rs 10 would now be converted into five equity shares of Rs 2 each, the bank said in a statement.

HDFC Bank plans 5-for-1 stock split

Income from core operations and fees saw IndusInd Bank's net profit for the quarter ended March 31 soar 75.34 per cent to Rs 171.76 crore. The bank's net profit in the year-ago period stood at Rs 97.96 crore.

IndusInd Bank net zooms 75%

Bank of America Merrill Lynch has sold out its Asia non-real estate private-equity assets to NewQuest Capital Partners, the Hong Kong-based PE firm set up by four private equity firms, including Paul Capital. The Bank of America Merrill Lynch Asia private equity team will continue to manage the portfolio as part of NewQuest Capital Partners. The financial terms of the deal are not disclosed.

NewQuest buys Bank of America Merrill Lynch's PE portfolio

Bangalore-headquartered public sector lender State Bank of Mysore (SBM) is planning to raise funds from the market through issuance of Tier-I and Tier-II bonds in the present financial year.

SBM to raise funds via tier-I, tier-II bonds

The proposed merger of the State Bank of Mysore (SBM) with State Bank of India (SBI) should be smooth on the back of various synergies between the two public sector lenders in the form of similar business philosophy, technology platform among others, a top SBI official said.

'Merger of SBM, SBI to be smooth'

Citigroup Inc, Deutsche Bank AG, Morgan Stanley, Bank of America Corp and bankers at the firms were acquitted by a Milan court in a market-abuse case relating to the 2003 collapse of Parmalat Finanziaria SpA, Italy&rsquo;s biggest dairy company.

Top banks cleared of Parmalat market abuse

Ahead of the monetary policy review on May 3, Reserve Bank of India (RBI) Deputy Governor Shyamala Gopinath today said inflation was a concern, mainly on account of the high prices of non-food manufacturing goods.

Inflation a concern for us: Gopinath

Private sector lender HDFC Bank today said it has appointed Rakesh Singh as Head of its investment banking division.

HDFC Bank appoints Rakesh Singh as i-banking head

State-run Punjab &amp; Sind Bank has reduced the interest rate by up to 1.25% on domestic term deposits of above Rs 1 crore.

PSB reduces interest rate on deposits over Rs 1 cr

Gold loan company Muthoot Finance Ltd, which is issuing 5.15 crore shares in an ongoing IPO, has said that the proceeds would used to maintain its capital adequacy ratio (CAR) above 15 per cent and would also be utilised to expand its lending further.

Muthoot to raise Rs 900 cr via IPO

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

Page 2178 - Finance News