The state-owned United Bank of India (UBI) plans to leverage the branch network of its four associate regional rural banks (RRBs) in the east and north-east sectors for business growth. These RRBs are located in the states of Tripura, West Bengal, Assam and Manipur.

United Bank to leverage RRB network for growth

Business Standard

The Reserve Bank of India (RBI) today prescribed enhanced security features and standardised fields for bank cheques to help straight-through-processing using optical technology.

RBI prescribes enhanced security norms for cheques

British banking major Lloyds Banking Group's chief executive Eric Daniels has become the latest banking boss to waive his 2.3 million pounds ($3.57 million) bonus in an attempt to defuse the political row over remuneration, says a media report.

Lloyds Banking CEO Daniels waives 2.3 mn pound bonus

Press Trust of India

Public-sector life insurer Life Insurance Corporation of India's new business premium declined 53.45 per cent at Rs 4,841,42 crore in January 2010, against the same period last year.

LIC's fresh premium declines 53.45% in Jan

Axis Bank's private equity arm Axis Private Equity is mulling to separate itself from the parent company in the coming weeks &mdash; a move that is part of the group's overall restructuring plan.

Axis PE may be spun off from parent co: CEO

When a congressional panel convened a hearing on the government rescue of American International Group Inc in January, the public scolding of Treasury Secretary Timothy F Geithner got the most attention.

Goldman Sachs minted most toxic CDOs

Foreign currency loans by the Indian companies declined 15.3 per cent to $1.32 billion (Rs 6,100 crore) in January 2010 from $1.56 billion (Rs 7,176 crore) a year ago, according to data released by the Reserve Bank of India (RBI). The external commercial borrowings (ECBs) fell as overseas markets re-opened after the holiday season.

ECBs decline 15.3% in January

Manipal Universal Learning, the corporate education arm of the Manipal Group, has raised Rs 200 crore from the private equity (PE) firm PremjiInvest, a $1-billion fund promoted by Wipro Group Chairman Azim Premji. The proceeds will be utilised for the company&rsquo;s expansion of its campuses and technology upgradation in India and abroad.

PremjiInvest to invest Rs 200 cr in Manipal Universal Learning

A village adoption scheme was introduced by the banks in 1960s in India with a view to enhancing their visibility besides encouraging agri-lending in a cost-effective manner.

SBI revives village adoption scheme

At least a dozen executive directors have also been shortlisted.

Govt finalises nine bank chiefs

These days bankers no longer perform the ritual of visiting the Capital with their quarterly performance files. And, they hardly miss that chore. Neither do they get moral persuasion doses (read diktat) at regular intervals from their owner on what their asset-liability committees should do.

Bankers' take on Pranab: Relaxed style, fast-track decisions

Large companies may be tempted to borrow abroad to cut their borrowing costs, which could go up once banks come up with new base rates by April, say finance managers.

Reluctant lenders hinder Foreign debt option

Thanks to the cap on overall charges on unit-linked insurance plans (Ulips), which was effective from the beginning of this year, life insurers posted lower incomes in January.

Life insurers report poor business in January

Cheques will have more security features like water marks and invisible logo with the Reserve Bank of India (RBI) deciding to ask banks to take additional measures to prevent forgeries and frauds.

New logo, watermark to make cheque safer: RBI

Finance Minister Pranab Mukherjee today said the fiscal stimulus greatly helped the economy withstand the impact of the slowdown and gave no hint of its possible rollback in the Budget.

Stimulus helped economy withstand slowdown, says FM

Exposure of Indian banks to crisis-hit Dubai World is in the range of $275-300 million and it will not have any material impact on the sector's performance this year, a senior official of the Reserve Bank of India (RBI) has said here.

Indian banks' exposure limited to Dubai World: RBI Gov

India's premier bank, State Bank of India (SBI), needs to raise around Rs 40,000 crore of capital over the next five-years and this would be done through a rights issue, a top bank official said today.

SBI needs to raise Rs 40,000 cr in five years, says Bhatt

Axis Bank announced the launch of mobile payment solution using its debit cards. The company claims that it is the first bank to provide a secure debit card-based payment service over interactive voice response (IVR).

Axis Bank launches mobile payment solution

State Bank of India (SBI) is eyeing a significant stake in Tata Motors Finance, a top bank official said.

SBI eyes significant stake in Tata Motors Fin

Association of Mutual Funds in India (Amfi) has created a post of chief executive officer and has appointed H N Sinor to this position.

H N Sinor to join Amfi as CEO

The bonuses doled out by Wall Street firms shot up 17 per cent in 2009, while entities such as Goldman Sachs and Morgan Stanley raised their overall compensation by 31 per cent during the same period.

Wall Street bonuses surge 17% in '09

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