Hemendra Kothari, the former chairman of DSP Merrill Lynch, is set to acquire Ambuja Cements&rsquo; stake in ING Vysya Life Insurance for around Rs 190 crore.

Hemendra Kothari to buy into ING Life

Business Standard

The country&rsquo;s leading bankers are optimistic about the long-term prospects but are unanimous in their opinion that the next financial year will be challenging.

Bankers see huge challenges in next financial year

The bank has 875 branches and 32 processing centres in the region.

SBI expands in North

Around 95 per cent will be paid in stock vesting over three years.

Bank of America to pay bonuses of more than $4.4 billion

The country&rsquo;s top lenders today said they would review the future of fixed-cum-floating rate schemes in March.

Banks to review teaser home loan plans in March

Insurer American International Group (AIG) is moving forward with its plans to pay out as much as $100 million in bonuses, despite drawing criticism from some lawmakers, a media report says.

AIG to dole out $100 mn in bonuses

Press Trust of India

SBH plans 200 new branches by March 2011

The rupee today depreciated by 8 paise against the US currency in early trade in line with weak stock markets.

Rupee sheds 8 paise to 46.05/$ in early trade

State-run Corporation Bank is considering launching a multi-utility cash card, which can be used as a debit, credit and pre-paid card, in the current year, a top official said.

Corp Bank mulling launch of multi-utility cards

Deutsche Bank today said it has returned to profit in the fourth quarter with a net income of euro 1.3 billion (about Rs 8,329 crore).

Deutsche Bank swings to profit of euro 1.3 bn in Q4

Although it recently offloaded its stake in commodity exchange MCX, the country&rsquo;s largest foreign lender, Citi, has no intention of selling its stake in Housing Development Finance Corporation (HDFC), according to its South Asia Chief Executive, Mark Robinson.

Citi to hold on to HDFC stake, says CEO

The European Central Bank (ECB) left its benchmark interest rate at 1 per cent, a record low, and will probably hold off unwinding any more emergency lending measures as Greece&rsquo;s budget deficit takes center stage.

ECB leaves rate at 1% as Greece takes centre stage

L&amp;T Finance, the financial services arm of engineering and construction major L&amp;T, plans to issue retail bonds, its second retail issue in less than six months.

L&T Finance to tap NCDs to raise Rs 500cr

State-run Corporation Bank is considering to launch a multi-utility cash card, which can be used as a debit, credit and pre-paid card, in the current year, a top official said.

Corp Bank to launch combo cards

Growth, rising incomes and financial inclusion imperatives fuel a felt need.

SBI decides to treble its branch network this decade

SBI delays acquisition plan, Union Bank still negotiating.

Indian banks run into high valuation wall in Indonesia

The country&rsquo;s largest private sector lender, ICICI Bank, does not see immediate pressure on interest rates, but expects them to rise from the second quarter (July-September) of next financial year due to increase in demand for credit.

Interest rates may rise from July: Kochhar

The rupee lost 26 paise against the US currency in early trade in line with a meltdown in stock markets.

Rupee down by 26 paise to 46.51/$ in early trade

The New York Attorney General has filed a lawsuit against the Bank of America (BofA) and its two former top honchos, including CEO Kenneth Lewis, for duping shareholders and the US government to complete a merger with Merrill Lynch.

NY Attorney General sues BofA, ex-honchos

Interest rates are likely to remain stable, but as liquidity dries up banks may hike the lending rates of short-term loans to companies, which are often 'mis-priced', a top central bank official today here said.

Short-term corp loans may become costlier: RBI

The increase in the cash reserve ratio (CRR) has started taking a toll on interest rates, with Axis Bank withdrawing its teaser home loan scheme two months before schedule.

Axis Bank kicks off teaser loan exit

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

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