The rupee today depreciated by 22 paise against the US currency in early trade in line with weak stock markets.

Rupee down 22 paise to 46.38/$ in early trade

Press Trust of India

The US-based financial services major Moragn Stanley plans to hire several hundred traders over the next few years in an effort to boost its under performing securities business, says a media report.

Morgan Stanley plans to hire traders: report

Describing the third quarterly performance of the bank as &quot;very positive&quot;, ICICI Bank Managing Director and CEO Chanda Kochhar today said the bank has emerged stronger on all parameters recording an operating profit of 22 per cent minus treasury income.

ICICI emerges stronger in 2009; trends positive: Kochhar

Business Standard

With many countries piling up massive debts in the wake of the global crisis, the International Monetary Fund (IMF) has cautioned that &quot;fiscal sustainability&quot; is going to be a big problem for the coming several years.

'Fiscal sustainability' to be big problem: IMF

Public sector lender UCO Bank today said it will convene a meeting of its shareholders to decide whether it should come out with a follow-on public offer (FPO) or placement of shares to qualified institutional buyers to raise funds.

UCO Bank seeks shareholders' nod for fund raising

The Insurance Regulatory and Development Authority (IRDA) has made it mandatory for insurance companies to disclose the remuneration of independent directors as part of its steps towards improving corporate governance.

IRDA makes disclosure of independent directors' pay mandatory

Exchange-traded currency derivatives registered a significant jump in volume today with the introduction of three non-dollar contracts.

New currency pairs debut with a bang

Ignoring a government advisory, IDBI Bank has moved to a variable pay structure for its officers, who will now have a 70 per cent fixed salary component.

IDBI Bank gets variable pay surprise

Governor says inflation pressure may moderate after July, but will be a challenge.

RBI says policy change unlikely till April

State-owned Union Bank, which saw its non-performing assets (NPA) swelling in the last quarter, expects to restrict its gross NPA to be below 2 per cent for the rest of this fiscal.

Union Bank expects to restrict NPA below 2%

Mutual funds refrained from purchasing fresh papers on expectation the rates would rise by the end of this month once the two-staged Cash Reserve Ratio (CRR) takes effect, dealers said.

Rate rise hope keeps MFs off market

Public sector lender Bank of Maharashtra reported 7 per cent drop in net profit to Rs 112 crore for the quarter ended December 31, 2009 as against Rs 120.6 crore in the year-ago quarter.

Bank of Maharashtra net down 7%

RBI declines to loosen exposure limit rules for core sector lending.

Banks want farm targets delinked from infra loans

Citigroup Inc. plans to sell or split off its $10 billion Citi Private Equity unit, expanding the list of money-management businesses the US bank is disposing of to reduce debt, people familiar with the matter said.

Citi to plan sale of $10 bn private equity unit

Private bank Kotak Mahindra Bank is keen on expanding its footprint in Uttar Pradesh.

Kotak Mahindra Bank to expand footprint in UP

The refinance portfolio of Small Industries Development Bank of India (Sidbi) is likely to touch a figure of Rs 20,000 crore this financial year.

SIDBI's refinance portfolio to touch Rs 20,000 crore

Panel wants more mandatory checks for more transparency.

Rating cos' consultancy business under scanner

The rupee today appreciated by 14 paise against the US currency in early trade on capital inflows into the stock markets.

Rupee gains 14 paise at 46.23/$ in early trade

Banks have expressed concern over the Competition Commission's intervention on homeloan prepayment penalty issue as they fear that this would put pressure on costs, increase risk and even lead to higher lending rates.

Loan prepayment does not violate competition laws:Banks

Swiss banks are discovering that the biggest threat to client privacy is their own workers.

Swiss banks' Achilles heel is workers selling data

The country&rsquo;s third-largest private sector lender, Axis Bank, plans to ramp up its fledgling wealth management and private banking businesses and nearly triple the number of relationship managers over the next 12 months.

Axis looks to beef up affluent banking

Finance News: Latest investing news and finance headlines straight from Business Standard.

Page 2709 - Finance News