The first batch is likely to join the department of information and technology.

RBI board gives green signal for specialist outsiders

Business Standard

Axis Bank denies interest in the old-generation bank.

Karnataka Bank shares zoom on takeover buzz

The Indian arm of the world&rsquo;s third-largest reinsurance broker, Willis, is under the insurance regulator&rsquo;s scanner in two cases, resulting in a delay in renewing of its licence.

Willis India under Irda scrutiny before renewal of licence

Private equity firm New Silk Route (NSR) will spend up to $20 million (Rs 90 crore) to raise its holding in INX Media Ltd to 70 per cent. The firm will buy out stakes of two existing investors, Temasek, and Kotak Private Equity, while New Vernon is likely to continue to be invested in the company.

NSR to raise stake in INX to 70%, bring in Guha as chief

Foreign fund house Morgan Stanley Mauritius today raised its stake in financial services provider JM Financial to 4.80 per cent after acquiring additional shares worth Rs 68.24 crore through open market transactions. Morgan Stanley Mauritius has acquired an additional 18.4 million shares, or 2.45 per cent, stake in JM Financial at Rs 37.06 per share, totalling Rs 68.24 crore, according to details available on the Bombay Stock Exchange (BSE).

Morgan Stanley raises stake in JM Financial to 4.8%

Press Trust of India

Currency notes are the largest volume of payment instruments in the country despite growing use of credit cards and electronic payments, RBI Regional Director, Surekha Marandi said.

People transact more in currency than in credit cards: Marandi

3G outgo tightens liquidity further

The Reserve Bank of India (RBI) is moving to improve customer service at banks. The central bank has set up a committee that will have the mandate to look into interest rates and bank fees and charges.

Damodaran to head RBI panel on improving customer services

State Bank of India (SBI) Chairman Om Prakash Bhatt is set to take over as the new chairman of the Indian Banks&rsquo; Association (IBA).

Bhatt to take over as IBA chief next week

Bucking the trend of rising interest rates, the country&rsquo;s third-largest private sector lender, Axis Bank, has cut deposits rates by 25-50 basis points (bps) across select longer-dated maturities, saying the liquidity situation is less harsh than it had previously anticipated.

Axis Bank lowers deposit rates

Funds raise Rs 20,000 cr in last 3 years to invest in the sector.

PE players take fancy to infrastructure projects

LIC Housing Finance&rsquo;s (LICHF&rsquo;s) diversification juggernaut is finally rolling with a proposed venture capital fund.

LIC Housing appoints CEO of Rs 500 cr venture fund

This summer, public sector bank chiefs have a new destination on their travel schedule &ndash; Patna. That&rsquo;s because Finance Minister Pranab Mukherjee has decided to bring the bank chiefs face to face with chief ministers of nine states in Bihar&rsquo;s capital.

Bankers head to Patna to discuss state of the East, North-East

Haryana has failed to match the growth rate of agriculture productivity to the growth rate of agriculture advances extended by the financial institutions in the state.

Banks in Haryana need to gear up to provide better banking services

Public sector bank, Allahabad Bank is eyeing NRI accounts to shore up its business from the segment from the &lsquo;negligible&rsquo; level of Rs 400 crore.

Allahabad Bank eyeing NRI accounts

In a major initiative to encourage investors from the rural and semi urban areas to participate in the equity market, the National Stock Exchange (NSE) today announced reduction of connectivity charges and waiver of transaction charges.

NSE reduces charges for investors in rural, semi-urban areas

A Supreme Court bench today declined to hear a petition filed by minority shareholders of the Bank of Rajasthan, opposing the proposed merger of the troubled Udaipur-based lender with ICICI Bank.

Another SC bench refuses to hear plea against BoR

The recent past has seen quite a few senior employees of brokerages and investment banks switch jobs. The churn has been visible in both foreign and domestic entities.

I-bankers bet on good times, switch jobs

A day after the conclusion of the 3G auction process, the net borrowing by banks from the Reserve Bank of India (RBI) under the liquidity adjustment facility (LAF) doubled to Rs 12,775 crore from Rs 5,575 crore yesterday. However, bankers said the liquidity situation was not as tight as expected with call rates falling below the 5 per cent mark before markets closed for the day.

Banks borrow more from RBI as liquidity remains tight

The ongoing economic crisis in the euro zone may have at least one positive aspect &mdash; higher remittances to India. While, according to banks, there was at least a 10 per cent reduction in remittances in the last quarter, it is still expected that another crisis in the euro zone may lead to a rise in remittance inflows in the coming months.

Euro crisis may raise remittances to India

According to data released by the Reserve Bank of India (RBI), bank credit went up by Rs 2,406 crore to Rs 32,30,178 crore at the end of May 14. On a year-on-year basis, credit has grown by 18.04 per cent. During the fortnight ended May 7, banks lent an additional Rs 13,030 crore.

Bank credit up 18%; infra sector gets lion's share

Finance News: Latest investing news and finance headlines straight from Business Standard.

Page 2656 - Finance News