The Dubai Financial Services Authority (DFSA) has upgraded the Hinduja Bank's licence, a move that will allow it to provide a whole range of financial services to clients in Europe, Middle East and South Asia.

Dubai allows Hindujas to offer full range of banking services

Press Trust of India

Mirae Asset Global Investments (India), today said that it has tied-up with the Bombay Stock Exchange (BSE) to provide its investors the facility to transact in Mirae Asset Mutual Fund units through the new mutual funds platform of the Exchange.

Mirae Asset MF schemes now available on BSE

Financial services firm, the Hartford Financial Services Group, has said it will raise about $3.05 billion in securities to repay the financial aid it received from the US government.

Hartford Financial plans to repay bailout fund

LIC to decide on entering banking: FinMin

On the heels of leading lenders raising the rates, the Chennai-based Indian Overseas Bank (IOB) today hikes its deposit rates by up to 50 basis points (bps).

IOB raises deposit rates by up to 50 bps

India-focused investor companies continue to face restive financiers.

The view of India still frays tempers, deals

Business Standard

A consortium of investors led by Morgan Stanley Infrastructure Partners and partnered by General Atlantic LLC (GA), Goldman Sachs Investment Management, Norwest Venture Partners, Everstone Capital and others has invested $425 million (around Rs 1,950 crore) in infrastructure company Asian Genco Pte (AGPL).

PE players invest $425 mn in Asian Genco

Banks may be allowed to invest, QIB cap to be raised.

IDR rules to be relaxed to boost participation

YH Malegam, chairman of the National Advisory Committee on Accounting Standards (NACAS), said the panel had sent its recommendations to the Ministry of Corporate Affairs.

IFRS rollout may be delayed for banks, insurers

Officials from the Reserve Bank of India (RBI) and the finance ministry will finalise the borrowing calendar for the next financial year on March 29. This is amid expectations the exercise will be front-loaded.

Borrowing calendar to be finalised on March 29

Banks are waiting for rates to soften further before reviving their foreign currency bond programmes, although credit spreads for large Indian lenders have eased by as much as 35-40 basis points (bps) in recent weeks.

Banks wait for dollar bond prices to ease further

The rupee strengthened and the benchmark stock index rallied on optimism that accelerating economic growth will attract overseas funds to local assets.

Rupee rises on growth hopes

The call rate went up marginally, as liquidity remained low in the system following the payment of the fourth installment of advance tax by companies.

Call rate eases on lower tax outgo

Banks have become more cautious in lending to sugar companies following a sharp fall in prices and are working on a fresh set of borrowing limits based on lower valuations. Companies borrow against sugar stocks to pay sugarcane farmers.

Banks cautious on further lending to sugar companies

In a move that took many insurance companies by surprise, the Insurance Regulatory &amp; Development Authority (Irda) today shifted disclosures regarding unit-linked insurance plans (Ulips) under the head of controlled fund.

Irda changes unit plan disclosure norms

The All India Regional Rural Banks Employees Association (AIRRBEA) has demanded that 82 regional rural banks across the country be amalgamated into state-level rural bank under National Rural Bank, as per the recommendation of Vyas Committee report, along with full autonomy to the board of management of the banks.

Amalgamate 82 RRBs: Rural bank employees

Deutsche Bank AG, JPMorgan Chase &amp; Co, UBS AG and Hypo Real Estate Holding AG&rsquo;s Depfa Bank Plc unit were charged with fraud linked to the sale of derivatives to the City of Milan.

Deutsche Bank, JPMorgan, UBS charged with derivatives fraud

United Bank of India (UBI) is negotiating with a clutch of asset reconstruction companies (ARCs) to sell bad loans worth Rs 100 crore for cleaning up its loan book, a senior bank official today said.

UBI in talks with ARCs to sell Rs 100 cr worth bad loans

Credit Information Bureau India (Cibil) today said it has entered into an agreement with 31 microfinance institutions to set up a credit information bureau.

Cibil in pact with 31 MFIs to set up credit bureau

Private sector lender Yes Bank today said it plans to recruit over 1,000 personnel, including 500 specialists, by year-end to drive expansion in key areas.

Yes Bank to recruit 1,000 by December

Wachovia Bank NA will pay $160 million to the US authorities to settle allegations related to its anti-money laundering compliance programme.

Wachovia reaches $160 mn settlement with US authorities

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