Mutual funds (MFs) saw a turnaround in 2009 with net resources mobilised rising to Rs 1.43 lakh crore compared to withdrawals in 2008 led by strong inflows into private fund houses, the Economic Survey said today.

MFs see turnaround in '09; mobilise Rs 1.43 lakh cr: Eco Survey

Press Trust of India

The government today said it has accepted recommendations of the 13th Finance Commission, which called for greater share of states in central tax proceeds, despite strains on its finances.

Govt accepts 13th Finance Commission proposals

Citigroup today said it has appointed Joanne Allen as Head of Human Resources (HR) for its Australia and New Zealand operations.

Citi ropes in Allen as HR head of Australia, NZ ops

Signalling hardening of interest rates in the industry, India's largest private sector lender, ICICI Bank today hiked its deposit rates in select tenures by upto 0.50 per cent with immediate effect.

After HDFC Bank, now ICICI hikes deposit rates

Global financial services major Citigroup's India equities Head, Nikhil Nagle has resigned from his position.

Citigroup's India equities Head quits

The Royal Bank of Scotland (RBS), in which the UK government owns majority stake, saw its loss narrowing down to 765 million pounds in the fourth quarter of 2009 and plans to dole out bonuses worth 1.3 billion pounds.

RBS Q4 loss shrinks to 765 mn pounds

RBI faults bank on KYC, anti-money laundering counts.

Bank of Rajasthan fined for violating norms

Business Standard

Title sponsor Hero Honda is leaving no room for losses from the Hockey World Cup.

Hero Honda takes Rs 8 crore cover for hockey world cup

As part of its recast, the bank has divided its global businesses into a core group, which the bank plans to retain and the for-sale non-core division. In India, the global banking and markets (GBM) and global transaction services (GBS) divisions are part of the core group while consumer banking and commercial banking businesses are part of the non-core group.

RBS slashes exposure to India by a third

P J Nayak, former chairman and CEO of Axis Bank, is the Business Standard Banker of the Year for 2009. Nayak was the unanimous choice of a five-member jury led by H N Sinor, former CEO of the Indian Banks&rsquo; Association.

P J Nayak is BS Banker of the Year

The country&rsquo;s largest private sector lender, ICICI Bank, today raised deposit rates by 25-50 basis points (bps), a week after HDFC Bank raised rates for long-term maturities by 25-150 bps. The rate for the 390-day bracket went up from 6.5 to 6.75 per cent, and from 6.25 to 6.75 per cent for 590 days.

ICICI raises deposit rates

The rupee appreciated against the dollar by 9 paise to 46.31 in early trade today, tracking other firming Asian currencies.

Rupee gains 9 paise at 46.31/$ in early trade

The only worry is rising inflation, which may push the cost of funds for companies.

Borrowings not to hit Private firms

The debt market sprung a surprise with hardening of bond yields as market players were gripped by inflation fears on account of higher excise duty and petroleum prices.

Bond yields rise marginally

Financial sector laws to be rewritten

Financial Stability Development Council won&rsquo;t affect independence: Thorat.

RBI rules out simpler norms for bonds

The Finance Minister has been proactive in providing Rs 16,500 crore for capitalization of banks. It would ensure both the growth, as well as availability of growth capital, as the rebound in the economy continues and demand picks up.

Budget is a triumph of ground-up economics

Someone once said a Budget should not aspire to be a dream Budget &ndash; dreams are ephemeral &ndash; but should aspire to be a good balancing act. By giving top priority to fiscal consolidation, without compromising on allocations to sectors which will drive growth, the finance minister has done exactly this and more.

There is something for everyone

With an eye on being an enabler, the government has focused on more equitable development, more social spends, increasing the people&rsquo;s investment and purchasing power, and improving the investment environment by judicious management of its finances.

The key now lies in execution

Debt relief scheme extended for another six months.

FM message: Pay on time, pay less

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