The Bank of England kept its benchmark interest rate at a record low as policy makers chose to set aside concerns on rising inflation pressures to support the UK economic recovery.

Bank of England keeps asset plan, interest rate steady to aid recovery

Business Standard

ICICI Bank, the country&rsquo;s largest private sector lender, and the Anil Ambani Group are looking at CLSA and Cheuvreux, the broking franchises of French financial conglomerate Credit Agricole, according to international media reports. Both franchises put together may be valued at $3.5 billion.

ICICI, Reliance Cap look at $3.5 bn brokerage buy

The country's foreign exchange reserves surged by $1.8-billion to $302.59-billion driven by a healthy increase in foreign currency assets.

Forex reserves up by $1.8 bn at $302.59 bn

Press Trust of India

The interest rates on big-ticket deposits may ease from April on the back of improvement in liquidity and fall in credit demand during early months of financial year 2011-12, according to a State Bank of India (SBI) official.

Bulk deposit rates to ease from April: SBI official

The Insurance Regulatory and Development Authority (Irda) is considering allowing insurers to trade in gold exchange-traded funds and equity derivatives. It may also allow them to take part in the securities lending and borrowing (SLB) segment.

Irda to give more investment options

Japan&rsquo;s central bank pledged to ensure financial stability after the strongest earthquake in at least a century forced Toyota to shut some plants, knocked out oil refineries and sparked a plunge in stocks.

BoJ pledges support,Toyota halts output at some plants

State Bank of India (SBI) Chairman O P Bhatt is visiting Lucknow on March 14 on the occasion of the completion of 150 years of its operation in Uttar Pradesh. Bhatt will inaugurate 21 new branches and 51 new ATMs through video link. A Heritage Gallery commemorating the occasion will be inaugurated by UP Governor B L Joshi and Bhatt. The country&rsquo;s biggest lender has about 1,600 branches in the state at present.

SBI Chairman O P Bhatt in Lucknow on Mar 14

Urge Irda for a 3-5 yrs horizon to adopt revised norms on Ulips.

Pvt insurers seek level playing field with LIC

The Financial Inclusion Plan (FIP) in Orissa is progressing at a sluggish rate. Out of the 1878 unbanked villages identified in the state under FIP, progress for opening of bank branches has been made in only 270 villages till the end of December last year.

Tardy progress of Financial Inclusion in Orissa

The Securities and Exchange Board of India (Sebi) is jointly working with other regulators to enhance norms for wealth management, which has been under the regulatory scanner since the Rs 400-crore Citibank India scam was exposed in December last year. According to a Sebi official, there is an urgent need for regulators to integrate at both operating and surveillance levels, to counter harmful product innovation.

After Citibank scam, new wealth watch norms

European and US reinsurers may sidestep costs tied to Japan&rsquo;s strongest earthquake in a century as the country&rsquo;s government, its carriers and uninsured property owners absorb most of the losses. Global reinsurers may face losses &ldquo;somewhere in the $10 billion range&rdquo; after Japan&rsquo;s primary insurers and a reinsurance program backed by the government pay their share, said Meyer Shields, an analyst with Stifel Nicolaus &amp; Co. Commercial and industrial lines risks are &ldquo;significantly underinsured&rdquo; in Japan, according to a statement from Newark, California-based Risk Management Solutions Inc.

Reinsurers may sidestep costs as govt, uninsured absorb most losses

Japan&rsquo;s central bank pledged to ensure financial stability after the nation&rsquo;s strongest earthquake on record forced Toyota Motor Corp to shut some plants, shut down oil refineries and sparked a plunge in stocks.

BoJ pledges support to business units as output halted at factories

Perched on a chair overlooking a wood panel-lined room in Dublin&rsquo;s High Court, a bespectacled Judge Elizabeth Dunne has become all-too-used to hearing from the victims of Ireland&rsquo;s economic meltdown.

Irish banks see losses on home mortgages rise

The Insurance Regulatory and Development Authority (Irda) on Saturday directed the general insurance companies to augment the Indian Motor Third Party Insurance Pool (IMTPIP) reserves to maintain a solvency ratio of 150 per cent by March 2014 from the present 126 per cent in order to meet the cost of higher compensation to be paid to road accident victims.

Irda wants 150% solvency ratio by 2014

Germany and France are fighting global rules that would force lenders like Deutsche Bank AG and BNP Paribas SA to reveal their reliance on debt, according to an internal note prepared by the European Commission.

Germany, France may fight Basel bank-leverage disclosure

The country's second largest private sector lender, HDFC Bank, has decided to hike fixed deposit rates by up to 100 basis points and lending rates by 50 basis points in line with industry trend.

HDFC Bank's interest rates may go up by 100 bps

The total number of branches of the 32 foreign banks operating in India as on March 31, 2010, stood at 306, which is a small rise of 4.4 per cent over the figure of 293 in the previous fiscal.

Now, foreign banks have more branches in India

Expect rate rise pause, amid market expectations to the contrary.

Bankers hope for surprise from RBI

The message is loud and clear out there - change or perish. With opening of Indian financial sector to private players two decades back, public sector banks are facing tough challenge not only to retain their market share, but also to attract country&rsquo;s young and upwardly mobile mass into their fold.

PSU banks gun for biz from GEN-Y

In initial signs of easing liquidity, the rates on certificates of deposit (CDs) have cooled from 10 per cent levels.

CD rates down on improved liquidity

Bangalore-based public sector lender, Vijaya Bank is planning to expand its corporate branch network in the country by opening three corporate banking branches in Pune, Hyderabad and Chennai during the current year.

Vijaya Bank plans expansion of corporate banking

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

Page 2188 - Finance News