Tamilnad Mercantile Bank (TMB) is targeting a business of Rs 50,000 crore by 2012-13 for which it would require around Rs 1,000 crore capital.

TMB to raise Rs 1000 crore

Business Standard

Credit rating agencies are expected to do brisk business in the fourth quarter, with more and more small and medium (SME) companies queuing up for ratings, according to DR Dogra, managing director and chief executive officer, Care Ratings.

Credit rating firms eye brisk business in Q4

City-based Kanakamahalakshmi Co-operative Bank (KCB) has received Reserve Bank of India&rsquo;s nod to take over loss-making Palakol Cooperative Urban Bank.

Kanakamahalakshmi to take over Palakol co-op bank

British banks fear their fragile recovery will grind to a halt over the next few months, according to a survey by employers' organisation the Confederation of British Industry (CBI).

British banks to see recovery falter: survey

Financial services major Goldman Sachs plans to expand a programme that would require executive and top managers to give a certain percentage of their earnings to charity, as it tries to soften criticism over bonus issue, says a media report.

Goldman plans to expand charity programme: report

Press Trust of India

Citigroup has replaced Douglas Peterson, the head of the bank's business in Japan, with Darren Buckley, a media report says.

Citi replaces its Japan unit head: WSJ

The rupee today rallied by 42 paise to close at a 16-month high of 45.34 against the US dollar on heavy selling of the American currency by exporters and banks amid flat local equity markets.

Rupee at 16-month high, rises to 45.34/$

Canara Bank will soon become the sixth major Indian bank to open a branch in the East Midlands town of Leicester, which has a large population of Indian origin and has close business links with India.

Canara Bank to expand in UK

The Reserve Bank of India (RBI) today said the banking system may increasingly face the problem of staff-attrition in the period ahead and banks will have to gear up to tackle the issue.

Attrition to be a big problem for banks: RBI

PSU lender Indian Overseas Bank (IOB) today said its bad loans are likely to increase in the December quarter but would stabilise in the January-March quarter.

NPAs may escalate in Dec quarter: IOB

Public sector banks have almost given up on meeting the 20 per cent credit growth target they had set at the start of the current financial year. And, unlike the past, they are now acknowledging about missing the target.

Finally, banks admit they will miss credit targets

State Bank of India (SBI), the country&rsquo;s largest lender, is expected to set aside more funds to meet the new norms that mandate 70 per cent provision coverage for non-performing assets (NPAs).

SBI may provide more to cover bad assets

&ldquo;We are keen on having a centralised PE enterprise which will help incubate stand-alone and partnership funds,&rdquo; Yes Bank Managing Director and CEO Rana Kapoor told Business Standard. The bank is in the process of closing a $200-million (over Rs 900 crore) cleantech private equity fund with US private equity investor Global Environment Fund.

Yes Bank to set up PE firm

Candidate may not need two-year residual service.

Govt may relax rules for appointing bank chiefs

Banks continued to place certificates of deposit (CDs) on the view that rates may rise in near future if the Reserve Bank of India (RBI) hiked cash reserve ratio, dealers said.

CD issuances continue on rate-rise talk

Life Insurance Corporation (LIC), India&rsquo;s largest life insurer, said the company would be able to meet the current financial year&rsquo;s target of Rs 48,000 crore in new business premium (NBP) income. The corporation has already met 51 per cent of its target by December-end.

LIC meets 51% of new premium income target

IFCI was not planning to apply for a banking licence as of now and was targeting to raise around Rs 1,200 crore in January-March through a mix of bond issue and market borrowings, Chief Executive Officer Atul Kumar Rai said on Monday.

IFCI puts bank plan on hold, to raise Rs 1,200 cr

The rupee today depreciated by 16 paise to 45.50 a dollar in early trade as the US currency strengthened against major world currencies.

Rupee down 16 paise at 45.50/$ in early trade

The US Federal Reserve has made a profit of a whopping $45 billion in 2009, a record in the 96-year history of the central bank, says a media report.

US Fed makes a profit of $45 bn: report

The government today said that it would act as a patriarch and bless public sector bank mergers that are based on synergy.

'Govt to act as patriarch, bless bank mergers'

IDBI Bank Chairman and Managing Director Yogesh Agarwal today said that the public sector player had completed due diligence on a private bank for possible acquisition.

IDBI in talks to buy private bank

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