Banks in Nebraska, Mississippi and Illinois were shut yesterday, according to statements on the Federal Deposit Insurance Corp&rsquo;s website. The failures drained $313.6 million from the FDIC&rsquo;s deposit-insurance fund.

Banks seized in Nebraska, Mississippi, Illinois

Business Standard

Deepak Parekh, HDFC's non-executive chairman, has urged the government to overcome the coalition pressures and allow higher foreign direct investment (FDI) in the insurance sector and enable the industry to go public as all private insurers are making losses.

Parekh for fast-tracking insurance FDI

Press Trust of India

IT major Mastek is eyeing an acquisition in the insurance vertical in North America as well as the UK, and could spend up to $50 million for the same, a senior company official said.

Mastek eyeing insurance buyout in N America, UK

Fearing court cases after the implementation of the base rate regime next month, public sector banks have decided to go for a legal check on loan documents signed by them.

Ahead of base rate rollout, banks seek legal check of loan papers

The State Bank of Hyderabad (SBH), an associate bank of SBI, will recruit 2,000 clerical and 600 supervisory staff during the present financial year, about 300 of whom will be deployed in rural branches to develop the bank&rsquo;s agricultural loan portfolio.

SBH to recruit 2,600 in FY11

Bond traders will be eagerly waiting for the outcome of the meeting of the empowered group of ministers on freeing oil prices on Monday, since an increase in petroleum could push yields up.

Bond traders to watch out for EGoM on oil prices

Insurance company AEGON Religare Life Insurance (ARLI) today said it is targeting a total received premium of Rs 500 crore in the 2010-11 financial year compared to Rs 166 crore in the 2009-10 fiscal.

AEGON targets total received premium of Rs 500 cr in FY11

Tamil Nadu-based private sector Karur Vysya Bank (KVB) today entered into a Memorandum of Understanding (MoU) with Unit Trust of India (UTI) for distributing the investement company's mutual fund products.

KVB inks pact with UTI for MF products

The Insurance Regulatory and Development Authority (Irda) has not cleared any unit-linked insurance plans (Ulips) for nearly two months, following the recent changes to the norms and the regulatory tussle over the investment-cum-insurance products.

Turf war, new norms hold Irda from clearing Ulips

Banks raised nearly Rs 62,000 crore on a net basis today through the two liquidity-adjustment facility (LAF) operations conducted by the Reserve Bank of India to tide over the liquidity crunch.

Banks tap RBI for Rs 62,000 cr

Ongoing sovereign debt crisis in some of the European economies has not adversely impacted the business of Exim Bank as of now, though volatility of the Euro remains a matter of concern for the lender.

Not adversely hit by EU debt crises: Exim Bank

Andhra Bank has tied up with UAE Exchange Centre WLL, Kuwait, for speed remittance arrangement from Kuwait to all its customers. Under this arrangement, non-resident Indians (NRIs) in Kuwait can remit amounts from any UAE Exchange Centre in Kuwait.

Andhra Bank ties up with UAE Exchange

Deputy Governor says stance appropriate for local, global situation.

Monetary-tightening pace to remain moderate: RBI

After Ratan Tata, now the bankers have started appreciating the beauty of small things.

Small is beautiful: Bankers go the Nano way

As many as seven public sector banks (PSBs) might get additional capital from the government shortly, financial services Secretary R Gopalan said.

PSBs may get more funds soon: FinMin

RBI aims to upgrade due diligence by banks, NBFCs; analysts say hit on retail loans might ensue.

Loan sell-downs may take a hit

The Reserve Bank of India (RBI) has asked non-scheduled banks to review their deposit exposure to other non-scheduled banks.

UCBs asked to review deposit exposure with one another

Bank of America (BofA) will pay $108 million to settle the US Federal Trade Commission's charges that Countrywide Financial Corp, which it acquired in 2008, had collected excessive fees from hundreds of thousands of customers facing foreclosure of their home loans.

BofA to pay $108 mn to settle FTC case

The country's largest lender, State Bank of India (SBI), today said it is awaiting the Reserve Bank of India's (RBI) approval for picking up a stake of about 30 per cent in Tata Motors Finance.

SBI awaits RBI nod for acquiring stake in Tata Motors Finance

Bhatt will take over the reins of the bank association from Union Bank Chairman and Managing Director M V Nair.

Bhatt is new Indian Banks Association Chairman

Union Finance Minister Pranab Mukherjee today described human resource management as the most &quot;daunting&quot; task facing banks in the coming years.

HR mgmt most daunting task facing banks: FM

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