Deal envisages one ICICI Bank share for every 4.72 of BoR&rsquo;s.

Bank of Rajasthan to merge with ICICI Bank

Business Standard

Indian Bank is planning to penetrate rural India through kirana stores, and plans to turn its retired employees into business correspondents in areas, where it does not have a branch.

Indian Bank to tap rural India

The bank said that while it has no need to raise capital at the moment, the purpose behind the issue of IDRs is primarily to enhance its market visibility and brand presence in India. &quot; India is a strategic market for us.

StanChart to raise Rs 2,700 cr through its maiden IDR issue

ICICI Bank&rsquo;s move to amalgamate Bank of Rajasthan (BoR) with itself at a 1:4.72 ratio indicates the bank would pay a premium of 89.4 per cent to Bank of Rajasthan&rsquo;s closing stock price on Tuesday.

ICICI-BoR merger: Look beyond the premium

The UK-based bank, which is looking at raising up to $750 million through issue of Indian Depository Receipts (IDR), currently employs 17,500 people in India.

StanChart to raise India headcount by 2,500

Press Trust of India

Magma Fincorp Limited, one of India's leading retail asset finance companies, has set a loan disbursal target of Rs 311 crore in Orissa in 2010-11.
If achieved, this would be 88.48 per cent surge over the disbursal figure of Rs 165 crore which the company had achieved in 2009-10.
Of the total disbursal figure of Rs 165 crore, car loans had the biggest share of the pie at Rs 58 crore followed by construction equipment at Rs 54 crore, commercial vehicles at Rs 40 crore and tractor loans at Rs

Magma eyes Rs 311 cr loan disbursal

Reserve Bank of India (RBI) Governor D Subbarao today said inflation was a big worry as demand side pressures were building up in the economy.

Inflation a big worry, demand side pressures building up: Subbarao

According to data released by the Reserve Bank of India (RBI), bank credit rose Rs 13,029 crore to Rs 32,27,771 crore till May 7. On year-on-year basis, credit increased 17.25 per cent. During the previous fortnight ended April 23, banks had withdrawn Rs 26,483 crore. Food credit during the period went up by Rs 4,647 crore.

Bank credit rises to Rs 13,030 cr

Among the Karnataka headquartered banks, Canara Bank and Corporation Bank are expected to witness sound growth in the current financial year on the back of increase in interest income and improvement in net interest margin.

Canara, Corp Bank to see higher growth this  fiscal

The 0.1 per cent fall in the consumer price index was the first decrease since March 2009, figures from the Labor Department showed today in Washington. Excluding food and fuel, the so-called core rate was unchanged, capping the smallest 12- month gain in four decades.

US consumer prices drop in April

Court interventions turn the tables on forex derivative losses, as banks push for out-of-court settlements.

It's advantage clients in fight over derivatives losses

After witnessing a substantial growth in bad loans in 2009-10 due to economic slowdown, Indian banks are hoping for better days ahead, due to the improved economic climate, credit pick-up and better repayment behaviour.

After surge in bad loans, bankers hope for better year

After crossing the $4-billion (Rs 18,540 crore) mark in March, the money raised by Indian companies through external commercial borrowing (ECB) and foreign currency convertible bonds (FCCBs) dipped to $ 2.82 billion (Rs 13,056.6 crore) in April.

India Inc raises $2.82 billion through ECB, FCCBs in April

The employees of Bank of Rajasthan (BoR) today launched an agitation to protest against its proposed merger with ICICI Bank, the country&rsquo;s largest private sector bank.

BoR staff alarmed at merger with ICICI, stage protests

Companies may stay clear of debt markets for now, say bankers.

Credit spreads for Indian firms touch 6-month high

The rupee fell over 1.70 per cent against the US dollar today, weighed down by falling euro against the greenback and largescale selling by foreign institutional investors (FIIs) on stock exchanges.

Rupee falls 1.7% on euro blues

But, warns that trade and services exports may be hit.

Greek crisis may not have major impact on India, says Subbarao

Standard Chartered Plc, which will launch the first-ever Indian Depository Receipt (IDR) offer later this month, today said it was &ldquo;not overtly concerned&rdquo; about the impact of the euro zone crisis on the issue.

StanChart not concerned about euro impact on IDR

HSBC Holdings&rsquo; retail broking unit said it would stop merchant banking operations to focus on securities services for retail and corporate clients.

HSBC's retail broking unit to exit merchant banking business

State Bank of India (SBI) has swung into action to check its rising operating expenses, one of the key factors responsible for dragging down its fourth quarter profits.

SBI on cost-cutting drive, to go slow on branch expansion

Company borrowing costs jumped the most in two weeks after Germany&rsquo;s short-selling ban, wiping out declines triggered by Europe&rsquo;s $1 trillion aid package that was meant to halt contagion from the sovereign debt crisis.

Corporate borrowing costs rise as German ban saps confidence

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