Government-owned Union Bank of India has initiated preliminary discussions with three-four small-sized Indonesian banks for a possible acquisition, a top bank official said.

Union Bank in talks to buy Indonesian banks

Press Trust of India

The government has shortlisted around 40 general managers (GMs) from public sector banks to be interviewed for promotion as executive directors (EDs). The government will select 16-17 EDs from this list, the interviews for which will be held in February.

40 shortlisted for bank ED jobs

Business Standard

GMAT model finds favour with banks

The rupee today gained 21 paise at 45.40 against the dollar in late morning trade on persistent selling of dollars by banks due to the American currency's weakness in the global market and on hopes of more capital inflow into equity markets.

UPDATE: Rupee gains by another 21 paise vs $

South Indian Bank (SIB) reported a 15.8 per cent increase in net profit at Rs 62.46 crore in the third quarter of current financial year as compared to Rs 54.20 crore in the same period of last fiscal.

SIB Q3 net up 16% at Rs 62 cr

Foreign fund house Citigroup Global has sold shares valued over Rs 480 crore of 35 Indian companies, including bluechips like Reliance Industries, Wipro and Infosys.

Citigroup sells shares worth Rs 480 cr of 35 Indian cos

The country's largest lender, State Bank of India (SBI), has shortlisted 3-4 companies for its proposed joint venture to foray into the merchant acquisition business and hopes to finalise the partner by March, a top official said today.

SBI shortlists 3-4 firms for merchant acquisition JV

Leading bankers today asked the Reserve Bank of India (RBI) not to squeeze money supply through policy instruments in the forthcoming monetary policy review and sought reduction in the deposit rates for savings accounts.

Banks demand status quo on rates, lower savings rates

The European Central Bank today retained its key interest rate at 1 per cent to boost the region's economy, which is slowly coming out of recession.

European Central Bank holds key rate at 1%

Approaches government for fresh funds, conversion of bonds into equity.

Cash-strapped IDBI Bank seeks capital rejig

South Indian Bank (SIB) has clocked 15.8 per cent increase in net profit at Rs 62.46 crore in the third quarter of the current financial year against Rs 54.20 crore in the corresponding quarter last year. Profit before tax increased to Rs 98.74 crore against Rs 82.37 crore last year.

South Indian Bank net up 16 per cent

In a bid to deal with the asset-liability mismatch (ALM), banks today sought concessions from the Reserve Bank of India (RBI) for lending to the infrastructure sector.

Banks demand easier norms for infrastructure finance

The Reserve Bank of India (RBI) is likely to allow money withdrawals from the point of sale (PoS) terminals using prepaid cards issued by banks.

RBI likely to allow prepaid cards for PoS withdrawals

A third to a fifth of the incubated firms make it to the big league.

Vencap success rate comparable to US: study

India&rsquo;s 10-year bonds rose the most in four weeks after yields at their highest in 15 months lured buyers.

Bonds rise as yields at 15-month high

Erasing its early gains, the rupee was trading 11 paise down at 45.73 against the dollar in late morning deals on good demand from banks for the US currency that was going strong against its other major rivals.

Rupee erases earlier gains; drops 11 paise to 45.73/$

ICICI Bank, one of India's largest private sector banks, has invested Rs 250 crore in the Lavasa Corporation, which is a subsidiary of engineering and construction major Hindustan Construction Company (HCC).

ICICI invests Rs 250cr in Lavasa Corporation

The bank had reported a profit of Rs 621.74 crore during the same quarter a year ago, according to a statement to the Bombay Stock Exchange (BSE).

HDFC Bank Q3 net surges 32% to Rs 818cr

Axis Bank, India's third largest private sector bank today reported a rise of 31 per cent at Rs 655.98 crore in its net profit for the third quarter ended December 31, 2009 as against a net profit of Rs 500.86 crore reported in the same quarter a year ago.

Axis Bank Q3 net rises 31% to Rs 656 cr

Citigroup will limit the cash bonuses for its bankers at below $1,00,000 in a move to defuse public uproar over compensation, says a media report.

'Citi to cap cash bonuses below $1,00,000 level'

Hinduja group-promoted Indusind Bank today said its net profit rose by 95.38 per cent to Rs 88.04 crore for the quarter ended December 31, against Rs 45.06 crore in the same period a year ago.

Indusind Bank Dec qtr net up 95% to Rs 88 cr

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