After sitting over the proposal for several months, the government has finally appointed seven executive directors (EDs) in as many banks.

Govt appoints 7 bank executive directors

Business Standard

The Reserve Bank of India (RBI) has found and took action against 17 cases of irregularities by companies that raised foreign currency convertible bonds (FCCBs) since April 2005, Minister of State for Finance Namo Narain Meena said today.

17 FCCB violations investigated, says govt

The financial supervisors in Asia have tightened the norms to make provisions for non-performing loans after the crisis hit many countries in late 1990s. But the provisioning stance still remained reactive to shifts in the business cycle, according to a Bank of International Settlements (BIS) study.

Bank provisioning norms remain reactive, says BIS

Union Bank of India had restricted investments into mutual funds (MFs) but has not yet exited them, and was in favour of quantitative restrictions on investments by banks, said Executive Director S Raman today.

Quantitative cap on MF investments needed: Union Bank

The Kerala High Court today adjourned a petition filed by Subramanian Swamy, a former Union minister, against the proposed commencement of an Islamic bank with state participation. A bench of Chief Justice S R Bannurmath and A K Basheer adjourned the case for january 5, for a detailed hearing.

Kerala HC adjourns petition against Islamic banking

With the economic slowdown impacting the demand for credit, the credit-deposit (CD) ratio of the commercial banks in Orissa declined by 4.08 percent by the end of September compared to the same period last fiscal.

Banks credit-deposit  ratio declines to 61.31%

The banking major Union Bank of India (UBI) has set the business turn over target of Rs.

Union Bank eyes Rs 3 lakh crore business by March 2010

The Indian rupee today depreciated by 19 paise against the US currency to fell to a two-week low in early trade on dollar buying by banks and importers and fears of capital outflows after weak global cues.

Rupee falls by 19 paise to two-week low at 46.67/$

Press Trust of India

Financial advisory company Fullerton Securities &amp; Wealth Advisors today said it will hire 300 more people by the end of the current fiscal and will also provide advisory services to the middle income group.

Fullerton on hiring spree; plans to target middle income grp

Leading public sector lender Punjab National Bank (PNB) today said it has sold 26 per cent stake in its fully-owned home loan arm, PNB Housing, to Destimoney Enterprises for Rs 79.17 crore.

PNB sells 26% in home fin arm for Rs 79 cr

To increase transparency, the Reserve Bank of India (RBI) today directed regional rural banks (RRBs) to disclose the commission they receive from mutual funds and insurers for referring their products to customers.

Disclose commission from insurers, MFs: RBI to RRBs

The Reserve Bank of India (RBI) today tightened the guidelines for external commercial borrowings (ECBs) by withdrawing relaxations provided to companies to raise money from overseas debt markets, a move that will contain surge of capital flows.

RBI tightens ECB guidelines

Banks consider raising rates for 3-5 year funds to correct asset-liability mismatch.

Deposit rates may rise from Jan

Chancellor of the Exchequer Alistair Darling said the UK will force banks awarding bonuses above &pound;25,000 ($40,800) to pay a one-off levy of 50 per cent.

UK to levy 50% tax on bank bonuses

HSBC Holdings Chairman Stephen Green said proposals to separate retail and investment banking are &ldquo;unrealistic&rdquo; and will slow economic growth because larger firms are needed to finance big companies.

Breaking up banks impractical, undesirable, says HSBC

With bank deposit rates in a free fall for the last one year, company fixed deposits have started finding many takers.

As bank rates fall, company deposits are back

Punjab National Bank (PNB) has sold 26 per cent stake in its wholly owned housing subsidiary, PNB Housing Finance, to financial services firm Destimoney Enterprises for Rs 79.17 crore.

PNB sells 26% in housing finance arm to Destimoney

Japanese financial services major Nomura today said it is planning to significantly expand its base in India and China next year, says a media report.

Nomura plans to expand in India, China next year: Report

Private sector lender Development Credit Bank is set to enter the wealth management space, offering free services to all its customers.

DCB enters wealth management, waives service charge

Former Bank of England policy maker Willem Buiter said Greece might be the first major country in the European Union (EU) to default on its debts since the aftermath of the World War II.

'Greece on the brink of default'

With improvement in the global credit markets and narrowing of spreads, the Reserve Bank of India (RBI) decided today to reintroduce the ceiling on interest rates that Indian companies pay for external commercial borrowing.

RBI tightens ECB norms

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

Page 2749 - Finance News