State Bank of India (SBI) Chairman Om Prakash Bhatt does not seem unduly worried about accretion of bad debt. For him, the immediate task is to get a go-ahead from the government to raise fresh equity.

Bhatt pitches for raising SBI equity

Business Standard

Anil Ambani Group's life insurance venture Reliance Life has sold the highest number of policies among private players in the first quarter of the current fiscal.

Reliance Life sold most policies among pvt players in Q1

Press Trust of India

The four state-owned general insurers will set up a common Third Party Administrator (TPA) as a joint venture to manage health insurance claims, a move that will end the dispute over excessive billing by hospitals.

PSU insurers to set up own TPA to vet mediclaims

The country's largest lender, State Bank of India, will decide on hiking interest rates by at least 25 basis points in a couple of days.

SBI to take call on raising rates in day or two

The Reserve Bank's proposal to cap foreign investment in new banks below 50 per cent is aimed at maintaining the diversity of the Indian banking sector by avoiding a repeat instance of local banks losing their Indian -owned tag.

New norms will help pvt banks retain their India tag

The government has invited applications for the post of Chairman and Managing Director (CMD) of Small Industries Development Bank of India (Sidbi), after its head R M Malla was appointed as Chief IDBI Bank.

Govt invites applications for post of Sidbi's Chairman

IDBI Bank paid a dividend of Rs 3 per share (30 per cent dividend on the face value of Rs 10) for the financial year ended March 2010 on the share capital of the bank held by the government, the bank said in a statement.

IDBI Bank pays Rs 114.5 cr dividend to govt

National bankers body, IBA, today said interest rates have to go up sooner than later as there is a decline in the growth of deposits, even as Finance Minister Pranab Mukherjee expressed confidence that banks will not revise upwards their lending rates soon.

Lending hike necessary as deposits slowing down: IBA

Indian Bank, which entered its 104th year of operations on August 15th, is planning to open 190 branches and 250 ATMs during the current year, mostly in the northern, western and eastern parts of the country.

Indian Bank to open 190 branches

Citigroup Inc, Deutsche Bank, Merrill Lynch and HSBC are among those planning to expand their private banking teams this year, sensing opportunity growing as rising stocks and a rebounding economy increase the number of affluent.

Wealth managers in hiring mode

The Reserve Bank of India has said it will address the concerns that banks have on the recent directive on sale of bonds in the held-to-maturity (HTM) category that are free from mark-to-market accounting rules.

RBI to address concerns on new HTM bond order

In a major fillip to the success of infrastructure bonds, the government has decided to exempt them from getting the credit ratings &mdash; which are mandatory for all the other kinds of bond issuances.

Govt exempts infra bonds from credit ratings

This amounted to a record 200 per cent growth over the previous year and both the banks registered 100 per cent utilisation, K C Shashidhar, Chief General Manager, Nabard-Kerala said in a press release here.

Nabard sanctions Rs 740 crore to RRBs

The regulator Insurance Regulatory and Development Authority (Irda) today asked the insurance companies not to provide &quot;fabricated sense of security&quot; through advertisements to allure customers towards Unit Linked Insurance Plans (Ulips) and other schemes, a move aimed at checking mis-selling of policies.

Irda asks insurers not to sell policies via misleading ads

ICICI Bank today raised its benchmark prime lending rate (PLR) by 50 basis points to 16.25 per cent, making home, auto and corporate loans costlier.

ICICI Bank raises lending rate by 50 bps

State Bank of India (SBI), the country&rsquo;s largest lender, announced sharp increases&mdash;by up to 150 basis points &mdash; in deposit rates, as banks aggressively compete for funds to meet burgeoning credit demand.

SBI increases deposit rates, ICICI ups PLR

Wall Street banks led by JPMorgan Chase &amp; Co and Morgan Stanley stand to make a combined $120 million on General Motors Co&rsquo;s initial public offering. If it weren&rsquo;t for Goldman Sachs, they could have made four times as much.

Goldman undercuts rivals in GM IPO as it loses top role

State Bank of India&rsquo;s (SBI) latest offering &ndash; to link deposit rates with base rate &ndash; is being viewed as a strategy to lure depositors in the current market scenario, when interest rates are moving upward. But bankers doubt if the product will still be accepted when the rate cycle changes.

SBI's new scheme links deposit rates to base rate

Private sector lender Yes Bank on Monday said it had raised Rs 665 crore of capital through two bond issues. The bank raised Rs 225-crore of perpetual Tier-I capital.

Yes Bank raises Rs 665 crore from bond issues

The Reserve Bank of India (RBI) must be watchful of possible conflict of interest and related-party lending while giving bank licences to non-bank finance companies (NBFCs), credit rating agency Moody&rsquo;s Investors Service said on Monday.

RBI should be cautious on new bank licences: Moody's

Punjab &amp; Sind Bank (PSB) has received fresh approval from the government for its initial public offering (IPO), a senior bank official said on Monday.

Punjab & Sind Bank gets fresh govt nod for IPO

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