Irish bond yields jumped to the highest since May after Standard &amp; Poor&rsquo;s cut the country&rsquo;s credit rating one step by to AA- on concern the rising cost of supporting its struggling banks will swell the budget deficit.

Ireland credit rating cut by Standard & Poor's

Business Standard

ICICI Bank today said it has alloted shares of the bank to shareholders of Bank of Rajasthan (BoR) following the amalgamation of the two private lenders.

ICICI Bank allots shares to BoR shareholders

Press Trust of India

With India and China poised to over take US in the field of training more highly proficient computer scientists, a top US Defence official has said that America must confront the cyber defence challenge with a focus on superior technology and productivity.

US needs to focus on superior technology: Pentagon

Amid concerns raised by the Reserve Bank of India (RBI) over its autonomy, the central bank has for the first time sought the Finance Ministry's nod for wage revision in the apex bank.

RBI seeks FinMin nod on employees pay revision

Jammu &amp; Kashmir Bank (J&amp;K Bank) Chairman Haseeb Drabu has been asked to resign, highly placed sources said tonight.

J&K Bank Chairman Haseeb Drabu asked to resign: official

With a view to fund solar power projects, bankers want the government to allow them to issue tax-free bonds, which work as stream for stable and long term resources.

Bankers bat for tax-free bonds to fund solar projects

A year after the financial crisis subsided, the $2.5 trillion private equity (PE) industry is finding the easy money may be gone.

PE loses fund commitments as Tony James woos Oregon

City-based Indian Bank has said it expects around 30-35 per cent growth in lending to small and medium enterprises (SMEs) during the current year. Last year, the bank registered a growth of around 34 per cent and expects to continue at the same pace in the current fiscal.

Indian Bank eyes 35% growth in SME lending

Sanjeev Bajaj is rejoining Credit Suisse Group AG from JM Financial as head of fixed income in India, according to an internal memo seen by Bloomberg News.

Sanjeev Bajaj joins Credit Suisse from JM

Rising interest rates also trigger trend.

MFs prefer short-term debt to bypass mark-to-market rule

Issuances of certificates of deposit (CDs) rose on Thursday because mutual funds and banks were keen on investing in short-term papers due to excess liquidity in the banking system, dealers said.

CD issues rise as investors buy on excess cash

The moratorium period on most restructured loans will be completed by the next quarter and it remains to be seen if banks can control and restrict the slippage.

Bank gross NPAs to touch 3.5% by March 2011: CARE

UNIFI Capital (P) Ltd has launched Insider Shadow Fund with a corpus of Rs 100 crore. This will be the Chennai-based fund management company's sixth fund, which has total assets under management (AUM) of around Rs 500 crore.

New fund from UNIFI that tracks insider transactions

The Insurance Regulatory and Development Authority (Irda) has imposed a penalty of Rs 10 lakh each on Bharti Axa Life Insurance Company Limited (BALIC) and Bharti AXA General Insurance Company Limited (BAGIC) for violating the provisions of registration regulations and not voluntarily intimating the changes in the ownership pattern.

Irda imposes penalty on Bharti AXA Life

ICICI Bank on Thursday said it had allotted its shares to the shareholders of Bank of Rajasthan (BoR) following the amalgamation of the two private lenders. As much as 25 shares of ICICI were allotted for 118 shares of BoR, ICICI informed the Bombay Stock Exchange.

ICICI allots shares to BoR shareholders

Progress made by commercial banks on releasing funds for micro, small and medium enterprises (MSMEs) would be reviewed at a meeting between Planning Commission member Arun Maira and the Indian Banks&rsquo; Association (IBA) here tomorrow.

Maira to meet IBA today on credit availability to MSMEs

State Bank of Mysore (SBM), the Bangalore-based associate bank of State Bank of India, today launched a crop loan scheme for farmers, under which it will charge only 2 per cent Interest. This is the first time in the history of Indian banking that a public sector bank is offering such a low rate of interest, a top bank official said.

SBM offers lowest rate for crop loans

Lending in affluent states way below target.

Banks fall short in lending to minorities in 2009-10

The Reserve Bank of India (RBI) has asked banks that while they should ensure opening of no-frill accounts by members of the minority communities, know-your-customer (KYC) norms should also be properly followed.

Open no-frills a/cs for minorities but adhere to KYC norms: RBI

After 90 long years of banking, State Bank of Indore (also known as Indore Bank) has now merged into State Bank of India today as per the Gazette Notification issued on July 28 by the Department of Financial Services.

SBI-Indore Bank merge in MP

&quot;The next edition of Consolidated FDI Policy Circular -- Circular 2 of 2010 -- will be issued on September, 30, 2010, which will incorporate all the changes effected in FDI policy post issue of Circular 1 of (March) 2010,&quot; the Department of Industrial Policy and Promotion (DIPP) said today.

Revised consolidated FDI policy document on Sep 30

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