The country&rsquo;s second-largest public sector lender, Punjab National Bank (PNB), has bet big on rural customers in the Indo-Gangetic plains of Uttar Pradesh and Bihar. Keeping in sync with its target, the bank unveiled its plans to open 100,000 biometric Automated Teller Machines (ATMs) in rural areas by the year 2013 for providing easy access to the illiterate and semi-literate customers.

PNB to open 100,000 biometric ATMs by 2013

Business Standard

The emirs, presidents and sheikhs of the six members of the Gulf Cooperation Council meet in Kuwait this week with the days of easy credit over following a year of debt defaults and deferred payments.

Gulf states to compete more for money as banks balk after Dubai

The rupee today depreciated by 20 paise to 46.73 against the US dollar in opening trade largely on fears of fresh capital outflows by foreign funds amid a bearish trend in other Asian markets.

Rupee down 20 paise at 46.73/$ in opening trade

Press Trust of India

Public sector Canara Bank, as part of fulfilling its corporate social responsibility (CSR) is in the process of imparting training to rural youth to enable them to acquire jobs in various disciples.

Canara Bank provides training programmes for rural youth

The Citigroup may cut a deal with the US government today that will allow it to repay the bailout fund the financial entity had received at the height of the global financial crisis, says a report.

Citi nears deal with US to repay bailout fund

The Lok Sabha today post facto put its seal on merger of the State Bank of Saurashtra (SBS) with State Bank of India (SBI) amid opposition from Left parties.

LS okays merger of State Bank of Saurashtra with SBI

The Reserve Bank of India (RBI), which has started exiting its easy money regime, might hike its cash reserve ratio (CRR) and policy rates over the next 4-5 months, research firm Macquarie today said.

RBI may hike CRR by 0.5% next month: Macquarie

Bank of New York Mellon Corp's Chief Executive Robert Kelly has emerged as the front-runner for the top job at Bank of America (BofA), but compensation issues are making a hurdle to the deal, says a media report.

Robert Kelly in lead for BofA CEO job, pay a hurdle

Financial services major Morgan Stanley has appointed Merrill Lynch President and Chief Operating Officer Gregory J Fleming to head its investment management group.

Morgan Stanley ropes in Merrill Lynch's Fleming

Tighter norms, better economy reduce credit card non-performing assets.

Credit card industry breathes easy

SBI Cards, the 60:40 joint venture between State Bank of India and GE Capital, has a new CEO. Abhay Singh, who used to be chief general manager of SBI&rsquo;s Mumbai circle, has taken over from Diwakar Gupta.

Change of guard at SBI Cards

After acquiring 51 per cent stake in domestic money changer and transfer agent Wall Street Finance, the BK Modi Group-promoted Spice Finance is looking to acquire one of Nepal&rsquo;s biggest money changer and transfer agent, Annapurna Finance, promoted by a local businessman.

Spice Fin to buy Nepal's top money transfer agent

Based on the recommendations of T M Bhasin Committee, appointed on behalf of West Bengal State Level Bankers&rsquo; Committee, 938 unbanked gram panchayats have been identified for opening bank branches in West Bengal.

UBI to open 11 branches in unbanked gram panchayats of Bengal during 2009-10

Banks are exploring the option of increasing the sub-prime lending rate, mainly offered to companies, while keeping the benchmark prime lending rate (BPLR) untouched.

Banks may tweak sub-PLR if RBI raises cash reserve ratio

Nowhere are yields as low as in Japan&rsquo;s debt market and nowhere are returns higher as Prime Minister Yukio Hatoyama&rsquo;s government fails to stop deflation.

Why Japanese bonds yielding 1.3% offer the highest return

Financial inclusion, the process of ensuring access of timely and adequate credit by the vulnerable groups at an affordable cost, has been achieved in thirteen districts of Orissa.

13 Orissa districts financially included

Religare aims to become one of the top financial services companies globally, and in double-quick time.

Eyes on the world

RBI tells banks to draw a roadmap for financial inclusion.

Unique identity number to help banks skip KYC rules

United Bank of India (UBI) is likely to file a red herring prospectus with the Securities and Exchange Board of India for their initial public offer (IPO) next week, Chairman Satish C Gupta has said. &ldquo;We hope to come out with the IPO by end January or early February,&rdquo; Gupta said.

UBI likely to float IPO by early February

HSBC Asset Management (India) Private Limited has announced the appointment of Mehul Bhatt as Head of Fund Management&ndash;-Equity for its Portfolio Management Services (PMS) business.

Mehul Bhatt joins HSBC Asset Management

Recognising Indian economy&rsquo;s resilience to global financial crisis, rating agency Moody&rsquo;s today upgraded its outlook on Indian government&rsquo;s local currency rating (Ba2) to positive from stable.

Moody's upgrades outlook for rupee

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