The country's largest lender&nbsp;State Bank of India (SBI) today said it plans to hire this fiscal about 15,000 business correspondents, who will help people in the rural areas to open bank accounts.

SBI to hire 15,000 biz correspondents in rural thrust

Press Trust of India

The country's largest lender State Bank of India (SBI) has extended its 8 per cent special home loan scheme, popularly known as teaser rates, for a month, but has made some changes to it that could make the overall loan costlier for borrowers.

SBI extends teaser rates, but with changes

The Reserve Bank of India (RBI) will hike short-term lending and borrowing rates by 25 basis points each in its April policy review, Goldman Sachs ECS Asia Research said today.

RBI will hike policy rates by 25 bps: Goldman

The state-run lender Union Bank of India today said its total business since inception will soon cross the Rs 3-lakh crore-mark, thus joining the elite league of State Bank of India (SBI), Bank of India (BoI), Bank of Baroda (BoB) and Punjab National Bank (PNB).

Union Bank to cross Rs 3 lakh-cr biz soon: Nair

RBI may ask banks to keep hybrid instruments out of Tier-I capital.

Public sector banks may need more core capital

Business Standard

Investing in the new pension scheme (NPS) could become doubly profitable for unorganised sector workers.

States start offering Rs 1,000 per NPS account

Mergers and acquisitions gained momentum in the first quarter with more than 2,034 cross-border transactions and 10 hostile takeovers signaling a recovery from the worst deal market in six years.

Global M&As creep higher on cross-border, hostile deals

The country&rsquo;s largest private sector lender, ICICI Bank, on Thursday said credit offtake will pick from July putting pressure on lending rates.

ICICI expects lending rates to go up with higher credit growth

CLSA Capital Partners has bought a minority stake in Chennai-based Equitas Micro Finance India for $24 million.

CLSA Capital Partners invests $24 mn in Chennai microfinance co

Signaling a change in nature of complaints being filed with the Insurance Ombudsman for Orissa, there is a gradual increase in the number of life insurance related complaints compared to non-life complaints.

Complaints against life insurance firms on rise

National Bank for Agriculture and Rural Development (Nabard) has pumped into the rural banking sector of Madhya Pradesh a whopping Rs 2,385.39 crore as refinance, which is 5 per cent higher than the previous year.

Rs 2,385-cr Nabard grant for MP rural banking

After months of litigation and political scrutiny, the Federal Reserve yesterday ended a policy of secrecy over its Bear Stearns Cos. bailout.

Fed reveals Bear Stearns assets it swallowed in firm's rescue

Reserve Bank of India Governor D Subbarao today said the central bank needed to learn to manage economic and regulatory policies in a globalised environment.

'Centralbankspeak' can be counterproductive: Subbarao

Canada has called upon India to further open its banking and insurance sectors so that Canadian banks and insurance companies can increase their presence in India.

Canada calls for liberalising norms in banks, insurance

The district consumer redressal forum has directed the HDFC bank to pay a customer the total amount which had been transferred from his account without his authorisation.

Consumer Forum blames HDFC bank for illegal fund transfer

Japanese Finance Minister Naoto Kan said today he has no plans to pressure China to reform the yuan's exchange rate when he meets Chinese Premier Wen Jiabao and other top Chinese officials this weekend in Beijing.

Japan won't pressure China to reform yuan at meeting

The Reserve Bank has liberalised investment norms for Indian telecom companies by allowing them to invest in international submarine cable consortia through automatic route.

RBI relaxes overseas norms for telecom firms

Financial institution Small Industries Development Bank of India (SIDBI) today said it expects about $600 million from multi-lateral agencies, including the World Bank, during the current fiscal for providing credit to micro, small and medium enterprises sector.

SIDBI expects $300 mn World Bank loan

Deutsche Bank AG has completed the acquisition of Dutch bank ABN AMRO's commercial banking activities in the Netherlands.

Deutsche Bank completes buyout of ABN AMRO's banking biz

Market regulator Sebi has directed stock exchanges to post all their regulatory orders and arbitration awards on websites from this fiscal to ensure greater transparency for investors.

Sebi asks exchanges to post all orders on websites

Financial services major JPMorgan Chase's Chief Executive Office Jamie Dimon is believed to be preparing his succession plans and will restructure the roles of key executives, a media report said.

JPMorgan Chase's CEO mulls succession plan: report

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