Punjab National Bank has set up a committee to evaluate the prospects of entering the life insurance business after its earlier attempt to enter the sector along with US-based Principal fell through.

PNB to decide on life insurance foray in next 3 mths

Press Trust of India

State Bank of Hyderabad (SBH) posted an 82.55 per cent rise in net profit to Rs 201.24 crore for the quarter ended June 30, 2010, as compared with Rs 110.24 crore in the corresponding quarter of the previous year. Its total income during the quarter increased 16.7 per cent to Rs 2,012.62 crore from Rs 1,724.41 crore in the same period last year.

SBH net up 82.55%

Business Standard

Prime minister helps rework June 18 ordinance on regulators&rsquo; committee.

North Block reassures Mint Road

Will deploy funds for global lending, to acquire targets abroad.

SBI raises $1 bn in overseas bonds issue

Lower cost of funds and higher income gave a boost to both Allahabad Bank as well as UCO Bank in the quarter ended June.

Lower cost of funds increases Allahabad, UCO banks' net

Sun Life Financial&rsquo;s president, Jon Boscia, sees Asia as the growth opportunity over the next half century and expects it to emerge as a key market. Sun Life plans to grow into pension, health insurance and wealth management in India.

Q&A: Jon Boscia, President, Sun Life Financial

Ahead of Tuesday&rsquo;s first quarter review of the Annual Policy Statement, the Reserve Bank of India governor today met Finance Minister Pranab Mukherjee and other senior officials in North Block.

Subbarao meets FM, officials ahead of credit policy

It had a net profit of Rs 331.66 crore during the corresponding quarter of the last fiscal, Indian bank said in a filing to the Bombay Stock Exchange.

Indian Bank Q1 net profit up by 11%

Public sector lender United Bank of India today reported a jump of 53.49 per cent in its net profit for the first quarter ended June 30, at Rs 107.86 crore.

UBI Q1 net profit up 53%

The total size of unregistered chit funds is almost Rs 30 lakh crore.

Unregistered chit funds having a field day

Indian Bank&nbsp;on Friday&nbsp;reported an 11 per cent rise in net profit to Rs 368.15 crore for the first quarter ended June 30 as compared to Rs 331.66 crore during the corresponding quarter of the last financial year.

Indian Bank posts 11% growth in net profit

Lower interest outflow helped Kolkata-based United Bank of India (UBI) post a 53.50 per cent rise in net profit for the quarter ended June 2010 to Rs 107.86 crore, against Rs 70.28 crore in the same period last year.

UBI net profit up 53.5%

Disagreeing with the Reserve Bank, interim pension watchdog PFRDA today said that the autonomy of the regulators will not be encroached upon by a recent ordinance on resolving disputes over hybrid products.

PFRDA okay with ordinance, says watchdogs' autonomy safe

Fears of another round of hikes in RBI's policy rates and rising borrowing costs have shaken the confidence of the industry, which had started to rebound after the global downturn, a Ficci survey said.

Rate hike fears have dented industry confidence: Ficci

Faced with the menace of double-digit headline inflation, the Reserve Bank is likely to increase key policy rates by at least 25 basis points in its first quarterly review of the monetary policy on Tuesday, say bankers.

Bankers see RBI raising key policy rates Tuesday

Anil Ambani Group firm Reliance Life Insurance has tied up with a financial services distribution company NetAmbit.

Reliance Life, NetAmbit in distribution tie up

Mahindra Finance, the financial services arm of auto major Mahindra and Mahindra, today said it expects regulatory approval for entering into the asset management business during the fiscal.

Mahindra Finance to enter mutual fund biz by Mar 2011

Citigroup, Bank of America and 15 other bailed-out financial services companies overpaid their top executives by $1.6 billion during the height of the financial crisis, a review by the US government on top executives' compensation has found.

Citi, 16 others overpaid top execs during crisis: report

The Reserve Bank of India (RBI) may increase its key rates for a fourth time this year to contain inflation and ensure the economic growth, which is getting back on track, doesn&rsquo;t get derailed.

RBI may stay on course with 25 bps rise in key rates

Indian Bank, the Chennai-based public sector bank, is planning to restructure its subsidiaries by bringing in strategic partners and reverse mergers. The company has three arms for its mutual fund, merchant banking and housing loan businesses.

Indian Bank to restructure subsidiaries

Punjab National Bank (PNB) has set a target of Rs 5,250-crore business in its Orissa circle during the current financial year. The target is Rs 1314-crore (about 33 per cent) more than the bank&rsquo;s total business in the state last year.

PNB eyes Rs 5,250 cr business in current fiscal

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