The BP Plc oil spill in the Gulf of Mexico will push up the price of insurance on offshore drilling, said Lloyd&rsquo;s of London Chief Executive Officer Richard Ward.

Ward says insurance rates must rise after BP spill

Business Standard

Baring Private Equity Partners India, an India-focused fund, is understood to be close to investing Rs 370 crore in Oriental Tollways, part of the Rs 1,000-crore, New Delhi-based, Oriental Structural Engineers (OSE), a company focused on infrastructure development, specialising in highways and runways.

Baring Private Equity may invest Rs 370 cr in Oriental Tollways

Followed by private limited companies, partnership firms.

Default risk highest among proprietary firms: Survey

The All India Regional Rural Bank Employees Association (AIRRBEA) has urged the finance minister Pranab Mukherjee to give more autonomy to the regional rural banks (RRB) to open branches in rural areas.

RRB employees body seeks more autonomy

French insurance major Axa will sell some of its British businesses to English firm Resolution in a 2.75 billion pounds deal.

Axa to sell part of its British biz for 2.7 bn pounds

Press Trust of India

The Dutch financial services major ING today exited private sector lender Kotak Mahindra Bank by selling its entire stake in a block deal for Rs 801.1 crore.

ING exits Kotak Bank, sells stake for Rs 801 cr

HDFC ERGO General Insurance, which expects to chart 35 per cent growth in premium collections in 2010-11, aims to achieve breakeven next fiscal.

HDFC ERGO General hopes to breakeven by FY12

Aegon Religare Life Insurance (ARLI) has chalked out an aggressive business plan this fiscal, besides increasing its topline backed by expansion of its current distribution network. North-East is also &quot;on the radar&quot; of the company as it aims big in the region in future and at least a four-fold increase in its business this fiscal.

Aegon Religare Life bets big on North-East

City Union Bank Ltd is planning to seek the approval of its Board of Directors for a proposal to raise around Rs 250-300 crore by way of Qualified Institutional Placement (QIP).

CUB to raise up to Rs 300 cr via QIP

The committee members asked if SBI was waiting for private sector banks to announce their rates before it takes a call on the issue. The bank assured the committee that it would file a written reply soon. SBI had earlier hinted at a base rate of 7.5-8 per cent.

House panel quizzes SBI on base rate

Punjab National Bank (PNB) will enhance its total business in Kerala to over Rs 5,000 crore in the current financial year, from Rs 4,700 crore in 2009-10. The bank has also set a target of Rs 1,000 crore in NRE deposits from the current level of Rs 300 crore.

PNB aims at Rs 5,000 crore business from Kerala

Compensation for the shareholders of the erstwhile Nedungadi Bank will be paid only after completing the due diligence process and obtaining an approval from the Reserve Bank of India (RBI), said KR Kamath, chairman and managing director of Punjab National Bank (PNB).

Nedungadi share settlement after RBI approval

The Reserve Bank of India (RBI) has said that loans for which banks avail of subvention from the government will be out of the base rate regime.

RBI keeps farm loan, export credit out of regime

Capping a week of high drama, the board of Bank of Rajasthan (BoR) has decided to send the application for merger with ICICI Bank to the Reserve Bank of India (RBI) and let the banking regulator decide whether the vote conducted in the absence of the bank management at the shareholder meet is valid or not.

BoR to forward merger proposal to RBI

Some liquidity is expected to come back by the second week of July.

Bankers to take up fund crunch with RBI

Reflecting tight cash conditions, net borrowing by banks at the Reserve Bank of India&rsquo;s liquidity adjustment facility (LAF) surged to Rs 82,490 crore.

Banks step up borrowings at repo window

The Reserve Bank of India (RBI) may raise key repo and reverse repo rates in the first half of July to contain inflation, four of the six economists surveyed on Thursday said.

RBI may raise rates early if liquidity eases: Economists

ING Bank NV today sold its entire stake of 3.07 per cent in Kotak Mahindra Bank Ltd, valued at about Rs 801 crore, according to data posted on the National Stock Exchange.

ING sells 3.07% in Kotak Bank for Rs 801 crore

Against minimum 5 per cent annual stake sale, want more flexibility.

Bankers, firms press for change in new public float rules

The company, a 74:26 joint venture between Bharati Group and the French multinational insurer AXA Group, posted a turnover of around Rs 300 crore in the last fiscal and expects to reach a turnover of Rs 510 crore by the end of the current financial year.

Bharati AXA eyes 70 per cent surge in turnover

The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 282.82 crore this year with loan assistance to the Government of Karnataka for building up of rural infrastructure projects. With current year&rsquo;s sanction under RIDF XVI to Karnataka, the cumulative sanctions to the state is expected to reach Rs 710 crore, an official statement said.

Nabard sanctions Rs 283 cr to state

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