The government has decided to chalk out a two-year programme to push financial inclusion initiatives by banks to bring it in line with the unique identity plan for the country.

Govt to chart two-year plan for financial inclusion

Business Standard

Inks 10-year strategic tie-up with Axis Bank.

Max New Life eyes  20% growth in business

Foreign direct investment (FDI) norms that classify ICICI Bank as foreign-owned were unlikely to impede the group&rsquo;s expansion plans, said ICICI Bank Managing Director and Chief Executive Officer Chanda Kochhar. &ldquo;We are an Indian originated bank, controlled by an Indian management and governed by the Reserve Bank of India,&rdquo; Kocchar told reporters after inaugurating the bank&rsquo;s 2,000th branch in Mumbai on Monday.

ICICI Bank is an Indian-originated bank: Kochhar

UCO Bank Chairman and Managing Director SK Goel is set to take over as the new chairman of India Infrastructure Finance Company (IIFCL).

Govt homes in on heads for 3 institutions

The market saw few certificates of deposit (CDs) being issued on Monday, as banks preferred to remain on the sidelines noting the abundant liquidity in the banking system, dealers said.

Short-term debt issues fall

Three international exchanges of the Jignesh Shah-promoted Financial Technologies India (FTIL) are scheduled to go live this year.

FTIL's 3 global exchanges to go live this year

In the broadest sense of the word, it was possible to ascribe an absolute value to currencies as recently as 1971. However, it was only till the Great Depression of 1929 that this valuation was at its purest.

Just what is our currency worth?

Online banking frauds are on the rise, with the number of cases more than doubling over the past three years, Parliament was informed today.

Online banking frauds more than doubled in three yrs: Govt

Press Trust of India

Hive off infrastructure to attract funds, have a scalable model.

Schools turn smart to woo PEs

In April, 129 M&amp;A and PE deals amounted to Rs 9,800 crore.

PE, M&A deal makers look back at April with pleasure

Manipal-based public sector lender, Syndicate Bank, today reported an 18.5 per cent drop in net profit at Rs 168.2 crore for the fourth quarter ended March 31, compared to the corresponding quarter last year.

Syndicate Bank net drops 18.5%

The European economic crisis could be an opportunity for Indian corporate houses. Leading investment bankers say assets, globally, are available at attractive valuations and the rise in domestic stock prices has added more strength to balance sheets of Indian companies.

Investment bankers see Greek crisis as window of opportunity

Prudential Plc&rsquo;s largest stakeholder, Capital Group Cos, rarely makes a concerted push to influence corporate management. When it does, the world&rsquo;s biggest equity mutual-fund manager can be a force.

Prudential's top shareholder uses 'velvet glove' to seek change

The new norms for unit-linked insurance plans (Ulips) released on Monday are part of the periodic review of regulatory guidelines on various product portfolios, Insurance Regulatory and Development Authority (Irda) Executive Director A Giridhar said on Tuesday.

Latest guidelines part of periodic review of norms: Irda

The Reserve Bank of India (RBI) has asked banks to develop skill sets to make lending to the infrastructure sector more effective. The central bank also called for timely sanctions, especially to power projects &mdash; a concern that was earlier raised by power ministry officials in interactions with RBI officials.

Banks asked to upgrade skills for infra lending

State-owned Allahabad Bank is planning to add 90-95 branches to its existing network of 2,312 over the next three years, of which about 40 would come up in the four southern states, said its executive director MR Nayak.

Allahabad Bank to open 95 branches

Andhra Bank plans to add 15 new branches in the states of Punjab, Haryana, Uttaranchal, and Jammu and Kashmir next year. The bank, which has a strong branch network in south, is now working to consolidate its presence in North.

Andhra Bank to consolidate branch network

Certificates of deposit maturing up to six-months were mostly issued today because mutual funds (MFs) were only keen on investing in shorter-tenure papers, dealers said.

MFs buy up to 6-month corporate deposits

Singapore's state-owned investment house Temasek Holdings (Private) Ltd today said that it has received regulatory approvals to buy 5 per cent stake in the National Stock Exchange of India (NSE).

Temasek gets approval to buy 5% in NSE

Following changes in the forex rules, travellers going abroad can get up to $3,000 or its equivalent amount in other currencies from forex dealers without prior permission of the Reserve Bank.

RBI raises forex cap for overseas travellers to $3,000

Country's largest lender State Bank of India (SBI) today said it has selected US-based Elavon Incorporation and Visa International as its joint venture partners for merchant acquiring business.

SBI, Visa in JV for merchant acquiring biz

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