In the backdrop of raging debate on huge bonus payouts, American Express has raised the annual base salary for its Chief Executive Officer Kenneth I Chenault by 60 per cent to $2 million.

American Express CEO gets 60% hike in base salary

Press Trust of India

Public sector Andhra Bank has set up the Rs 1.30 lakh crore business target by the end of the current financial year.

Andhra Bank sets up Rs 1.3 lakh biz target

Extending yesterday's gains, the rupee today rose by 11 paise to 46.40 against the dollar in early trade on hopes of more capital inflows by foreign funds and strong Asian cues.

Rupee up 11 paise at 46.40/$ in early trade

Kerala-based Dhanalakshmi Bank has received RBI approval to raise FIIs and NRIs percentage holding in the bank to 49 per cent and 24 per cent respectively.

Dhanalakshmi Bank gets approval to raise FII limit

Dubai World Group has confirmed that its debt restructuring process of $26 billion would apply only to the Dubai World and the Nakheel and Limitless.

Dubai World debt restructuring to total $26 bn

The government today said a proposal for $2.97 billion loan from the World Bank has been formulated and the same will be taken up with the President of the bank visiting India shortly.

Govt to take up $2.97 bn loan with World Bank chief

The government today said the Reserve Bank of India (RBI) had not approved appointment of financial consultancy and auditing firm PwC as auditors for commercial banks from the financial year 2009-10 in the wake of alleged irregularities on its part in the Satyam fraud.

RBI does not approve appointment of PwC as auditors for banks

Kerala-based South Indian Bank (SIB) has scaled up business target by Rs 1,500 crore and is looking at a total volume of Rs 37,500 crore by this fiscal-end.

South Indian Bank scales up biz target by Rs 1,500 cr

The government today said credit growth from banks has slowed down to 9.8 per cent till November 6 in the current fiscal against 27.7 per cent in the corresponding period a year ago.

Credit offtake growth slows to 9.8%

State-run, Union Bank of India has revised its interest rates on foreign currency deposits with immediate effect.

Union Bank revises rates on FCNR deposits

Pvt player to launch credit cards, education, personal loans in 3 yrs.

Yes Bank set for mega retail push

Business Standard

Banks&rsquo; association says the process needs a huge effort.

More time for IFRS rollout: banks

The Reserve Bank of India&rsquo;s (RBI&rsquo;s) next policy move is likely to indicate a shift in stance, newly-appointed Deputy Governor Subir Gokarn has said.

Gokarn hints at reversal in policy stance

With its micro finance portfolio expected to cross Rs 500 crore, Ahmedabad-based non-profit organisation Friends of Women&rsquo;s World Banking (FWWB) is floating an NBFC, Ananya Finance for Inclusive Growth (AFIG). The NGO, promoted by Self Employed Women&rsquo;s Association (Sewa) Bank, expects to receive the Reserve Bank of India (RBI)&rsquo;s approval soon for the new entity.

Sewa-promoted entity aims to set up NBFC

India&rsquo;s largest mortgage financier Housing Development Finance Corporation (HDFC) has converted warrants issued by HDFC Bank into shares just two days before these expired.

HDFC hikes stake in HDFC Bank through warrant conversion

With more infrastructure projects needing funds, India Infrastructure Finance Co (IIFCL) expects a 50 per cent rise in disbursals to Rs 4,900 crore in 2009-10. Last year, it had disbursed Rs 3,200 crore.

IIFCL eyes 50% rise in disbursals

IDBI Bank hired three banks to help it get $225 million (around Rs 1,225 crore) of five-year loans, according to people familiar with the development.

3 banks get IDBI mandate for Rs 1,225-cr loan plan

Distressed asset funds take the secondary market route.

Bad assets market gathers steam

India&rsquo;s benchmark bonds fell for a third day, the longest stretch in almost a month, before the government auctions Rs 10,000 crore ($2.15 billion) of debt later this week.

Bond yields at 2-week high before debt sale

Indian entrepreneurs may get a shot in the arm with the Union government&rsquo;s Department of Science and Technology (DST) trying to join hands with private venture capitalists (VCs).

Govt urges angel investors to mentor start-ups

The Dubai crisis may increase the cost of funds for India companies, particularly those with business interests in West Asia.

Dubai crisis may push up cost of overseas credit

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

Page 2743 - Finance News