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

Press Trust of India

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

The Reserve Bank of India (RBI) today said it may come out with guidelines on new banking licences in about three months.

RBI norms on new banking licences likely in 3 months

The State Level Bankers&rsquo; Committee (SLBC) today approved the road map for Financial Inclusion Plan (FIP) to provide banking services in the unbanked villages of Orissa having a population of more than 2000 as per the 2001 Census.

SLBC approves financial inclusion road map

Business Standard

The performance of twelve banks under the Prime Minister&rsquo;s Employment Generation Programme (PMEGP) was below the state average of 83.06 percent during 2008-09.
These banks are Indian Overseas Bank (77.26 percent), Syndicate Bank (68.28 percent), Rushikulya Gramya Bank (58.34 percent), Union Bank of India ( 57.85 percent), Baitarani Gramya Bank ( 51.34 percent), Indian Bank (51.19 percent), Canara Bank (35.12 percent), Dena bank (33.65 percent), Utkal Gramya Bank ( 29.84 percent),

12 banks fail to achieve PMEGP target

Factoring in the government&rsquo;s push to improve its finances and higher growth, Standard &amp; Poor's today revised the outlook on India&rsquo;s sovereign credit rating to stable from negative.

S&P upgrades India outlook

RBI guidelines on new banking licences likely in 3 months

Mahindra &amp; Mahindra Finance Services Limited (MMFSL), the financial services arm of the Mahindra group, on Thursday launched its new loan against gold product in Kerala. The product has been specifically designed to provide liquidity against gold ornaments without selling them.

M&M Fin launches loan against gold product

Global investment bank Morgan Stanley today named P Jayendra Nayak, the former chairman and chief executive officer of Axis Bank, as its new chief executive and country head for India.

Nayak to head Morgan Stanley India

Accounts for more than half the money raised through disinvestments.

LIC plays disinvestment saviour

The Reserve Bank of India (RBI) on Thursday signaled a rate hike to calm rising inflation. RBI Deputy Governor KC Chakrabarty said the central bank was exploring all options to tackle inflation, including an action even before its April policy review, if the situation demanded so.

All options open to tackle inflation: RBI

State-run United Bank of India on Thursday made an impressive debut on the exchanges by closing 4 per cent higher than its issue price.

UBI closes 4% higher on Day 1

Officials from the finance ministry and the Reserve Bank of India (RBI) will meet tomorrow in Mumbai to finalise new technological models for spreading banking activities in unbanked areas.

Ministry, RBI meet on financial inclusion today

Banks today parked over Rs 25,000 crore with the Reserve Bank of India (RBI), signalling some ease in liquidity after the payment of the last installment of corporate advance tax.

Liquidity eases, banks park over Rs 25,000 cr with RBI

The US regulator, Securities and Exchange Commission (SEC) and Federal Reserve were warned by Wall Street rival Merrill Lynch that Lehman Brothers was incorrectly measuring its liquidity position months before its collapse in 2008, says a media report.

Alarm was raised by Merrill on Lehman: report

Rising inflation might put upward pressure on interest rates in the near future, said public sector lender Bank of Baroda (BoB) Chairman and Managing Director M D Mallya.

BoB chief sees interest rates hardening soon

The Reserve Bank of India (RBI) today raised key policy rates by 25 basis points (bps) to mark a reversal of its easy monetary policy regime to tame inflation and anchor inflationary expectations.

RBI hikes repo, reverse repo rates by 25 bps

India is likely to witness an over 8 per cent economic growth in the fiscal 2010-11, driven by good investment and consumption demand, says a report by Dun &amp; Bradstreet (D&amp;B) India, a global business information provider.

Economy likely to grow by 8.3% in FY11: D&B

Morgan Stanley Asia Chairman Stephen Roach said that Paul Krugman&rsquo;s call to push China to allow a stronger yuan is &ldquo;very bad&rdquo; advice and that increased Chinese spending is a better way of reducing trade imbalances.

Roach spars with Krugman over call to pressure China on yuan

Public sector lender UCO Bank has firmed up plans to raise funds through a follow-on public offer (FPO) by issuing 60 million equity shares.

UCO Bank for FPO, issue by May-end

Surprises market with 25-basis-point rise; banks not to increase rates immediately.

RBI raises repo, reverse repo

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