Public sector lender Bank of India (BoI) today said its board has approved raising up to Rs 10,286 crore through Tier-I and Tier-II capital.

Bank of India to raise up to Rs 10,286 cr

Press Trust of India

Citigroup, 18 per cent owned by the US government, is testing a website to let millionaires&rsquo; children manage their allowances, while alerting parents and bankers when scions blow through cash too quickly.

Citi millionaires' heirs get website for allowances

Business Standard

Insurers want to encourage persistency in agents.

Commission on Ulip renewal may go up

The Reserve Bank of India (RBI) on Thursday said it had approved the proposed merger between ICICI Bank and Bank of Rajasthan (BoR).

RBI okays ICICI Bank-BoR merger; takes effect today

Switzerland-based lender Credit Suisse today announced that it had received a licence from the Reserve Bank of India (RBI) to open a bank branch in Mumbai.

Credit Suisse gets commercial banking licence

Prudential Plc, the UK insurer that failed to buy AIA Group earlier this year, said it won&rsquo;t make another bid for the American International Group unit as it posted earnings that beat analysts&rsquo; estimates.

Prudential rules out another AIA bid

Vacancies, NPS to be taken up in a meeting tomorrow.

Banks to discuss human resource issues with FM

With Parliament on Thursday passing an enabling bill for reduction of government stake in the country&rsquo;s largest lender, decks have been cleared for the State Bank of India (SBI) to raise fresh funds from the capital market.

Parliament allows SBI to raise funds from market

The Life Insurance Agents&rsquo; Federation of India (LIAFI), which has 1,000 branch associations affiliated to it, on Thursday sought exemptions in the draft policy note of the Insurance Regulatory and Development Authority (Irda), which states that an agent should complete 20 different lives a year with the minimum first year premium income to be procured by him being Rs 1.5 lakh. &ldquo;Many agents are objecting to this.

Life agents' body seeks exemptions

Loans to infrastructure segments like power, telecom, roads and ports led the growth in bank credit in 2009-10, when the Indian economy was emerging from shadows of the global financial crisis.

Infra demand led bank credit growth in 2009-10

State Bank of India (SBI) on Thursday said consolidated net profit for the group went up by 21.99 per cent to Rs 3,356.26 crore during the quarter ended June, compared to Rs 2,758.5 crore during the corresponding period last year.

SBI net grows 22%, shares touch 19-year high

State Bank of India (SBI), the country&rsquo;s largest lender, today said interest rates were headed upwards and it would soon decide on revising its deposit rates and the benchmark prime lending rate (BPLR).

SBI to decide on rate rise soon

Breaking its silence over debt recast for the airline industry, State Bank of India (SBI), the country&rsquo;s largest lender, today said it was awaiting a decision from the Reserve Bank of India (RBI) to restructure loans and yet treat them as standard assets.

Awaiting RBI decision on airline debt recast: Bhatt

One of the most recognisable faces in the country&rsquo;s financial services sector, Naina Lal Kidwai is one of the few women to have made a mark in the ultra-competitive world of investment banking.

Upwardly mobile banker

Private sector lender HDFC Bank is likely to raise interest rates on auto loans by 0.50 per cent in the next 7-10 days, a senior bank official said today.

HDFC Bank, Kotak Mahindra to hike auto loan interest rates

Despite uncertainty in the regulatory environment that shrouded unit-linked insurance policies (Ulips), life insurance companies have continued to produce numbers -- indicative of the strong connect with grassroot investors, an insurance industry body said.

Growth of life ins cos indicate grassroot connect: Council

The Reserve Bank of India (RBI) today said persons charged with violation of the Foreign Exchange Management Act (FEMA) should apply for compounding, which is paying a sum to get relief from punitive action under the act, at the earliest.

Pay up for violation of forex rules or face action: RBI

But bankers assert the worst is behind them.

Listed banks; NPAs swell by over Rs 5,000 cr in Apr-June

Bank of Rajasthan (BoR) shares rose to their highest level since November 1995, a day after the Reserve Bank of India (RBI) approved its merger with ICICI Bank. The RBI&rsquo;s decision finally brought the curtains down on a three-month process, marred by shareholder protests and which required the central bank&rsquo;s intervention.

BoR stock hits 15-year high

The country&rsquo;s foreign exchange reserves went up by $3.17 billion &ndash; the biggest increase in six weeks &ndash; to reach $287.36 billion during the week-ended August 6. The spike was mainly on account of a revaluation of currencies, especially the dollar, and an increase in the share of the reserve position in the International Monetary Fund.

Forex reserves up $3.2 bn, highest jump in 6 weeks

The economic recovery almost two years after the manifestation of global crisis has been uneven and the outlook for the global economy is unclear, said YV Reddy, former Reserve Bank of India governor.

Global outlook unclear: YV Reddy

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