Financial service major Citigroup is planning to relaunch Citi Alternative Investments, a unit that contains its hedge fund operations, a media report said.

Citi to relaunch hedge fund ops: report

Press Trust of India

Bailed out mortgage lender Fannie Mae has reported losses of $19.76 billion for the September quarter, bogged down by staggering credit-related expenses.

Fannie Mae Q3 loss at $19.7 bn; seeks $15 bn Fed funds

Private non-life insurer Bajaj Allianz today announced the appointment of Hemant Kaul as the new CEO of the company.

Bajaj Allianz appoints Hemant Kaul as CEO

With this, deposits with a maturity of 181 days to less than one year will now carry an interest rate of 5.25 per cent against 5.75 per cent earlier, a bank communique to the Bombay Stock Exchange said.

SBI cuts deposit rates by 25-50 bps

The Royal Bank of Scotland (RBS), in which the UK government holds majority stake, has posted an operating loss of 1.53 billion pounds for the September quarter, as the battered entity continued to see higher impairment charges.

RBS posts 1.53 bn pounds operating loss in Q3

India's largest lender State Bank of India (SBI) has extended its special home loan scheme at 8 per cent interest rate by over four months to March 31, 2010, a move which would provide relief to small home loan borrowers.

SBI extends 8% home loan scheme to March 2010

Continuing in the black for the second straight quarter, American International Group (AIG) has posted profits to the tune of $455 million for three months ended September quarter.

AIG posts 2nd straight quarterly profit

The bank extends 8% home loan scheme till March.

SBI deposit rates cut 25-50 bps

Business Standard

Munich Re today said it would further reduce its exposure to India as entry of new general insurance companies in the market was putting pressure on its premium income.

Munich Re to reduce exposure to India

IDBI Bank said on Friday it would come out with a follow-on public offer (FPO) in January to meet its capital needs. It also plans to raise $500 million through overseas bonds to fund Indian corporates&rsquo; expansion programmes abroad.

IDBI follow-on offer in January

The country&rsquo;s foreign exchange reserves fell $1.13 billion in the week up to September 11 to $284.4 billion on the back of portfolio investments and revaluation of currencies.

Forex reserves down $1.13 bn

Private lender Yes Bank today said it will raise about Rs 1,500 crore during this fiscal to fund its growth strategy.

India Eco Summit: Yes Bank to raise Rs 1,500cr

Taking cue from bigger banks, state-run Bank of Maharashtra (BoM) has slashed its home and vehicle loan rates and reduced deposit rates across various maturities.

Bank of Maharasthra cuts loan, deposit rates

Private-sector lender Dhanalakshmi Bank has obtained market regulator Sebi's approval for starting its merchant banking business and besides, is close to acquire a major stake in an existing asset management company, a top bank official said.

Dhanalakshmi Bank forays into merchant banking

Global banking behemoth Standard Chartered plans to hire 3,000 employees in India by the end of 2010, a year that would also see it listing its shares on the bourses in India.

StanChart to hire 3,000 more in India

The yield on government bonds is likely to be impacted by the prospect of a soft interest rate trend in the near future.

Bonds may gain on benign interest outlook

Bank credit fell sharply in the first half of the financial year, but the overall funds flow to the corporate sector was virtually the same as the corresponding period last year.

India Inc prefers other sources to bank funds

In an attempt to weed out inactive accounts and increase low-cost deposits, foreign banks are increasing the minimum balance that customers need to hold in their savings accounts.

Foreign banks hike minimum balance for savings accounts

Finance ministry is understood to have supported the Anil Ambani group&rsquo;s plans to raise $1.1 billion of overseas loans for its power business and suggested to the RBI that entities should not be denied a nod on account of alleged violations on end-use of funds by other group companies.

FinMin supports ADAG's plans, writes to RBI

The Indian rupee surged further by 30 paisa to 46.50 against the dollar in early trade today on fresh dollar selling by exporters amid firm local stocks and heavy capital inflows this year.

Rupee gains another 30 paisa at 46.50/$

State-owned Union Bank of India (UBI) today said there is no immediate plan to cut deposit rates even as leading banks like State Bank of India (SBI) and Punjab National Bank have slashed rates by up to 50 basis points.

India Eco Summit: UBI defers plan to cut deposit rates

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