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/$

Press Trust of India

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

Backed by strong credit demand mainly in the auto segment, private sector lender, HDFC Bank has disbursed Rs 3,000-crore of retail loans in October, its retail banking head said.

HDFC Bank disburses Rs 3,000-cr retail loans in Oct

ICICI Bank today said it would reduce its stake in BPO company Firstsource in a phased manner, even as there are reports of appointment of a merchant banker for exiting from the outsourcing company.

India Eco Summit: ICICI to reduce stake in Firstsource

Australian financial services provider AXA Asia Pacific Holdings (AXA APH) has rejected a $10-billion joint takeover bid from its majority stakeholder AXA and rival AMP.

AXA Asia Pacific rejects $10 bn takeover offer

Exim Bank, today said it has appointed Ravneet Kaur, a finance ministry official, as the bank's interim chairman and managing director (CMD).

Exim Bank appoints Ravneet Kaur as interim CMD

Innovation should be something that satisfies two basic criteria &ndash; fulfil a basic need and should be replicable at economically viable cost, according to KV Kamath, chairman of ICICI Bank Limited.

'Innovations are game-changers'

Business Standard

Goldman Sachs Group Inc, Morgan Stanley and JPMorgan Chase &amp; Co&rsquo;s investment bank, survivors of the worst financial crisis since the Great Depression, are set to pay record bonuses this year.

Big 3 set to pay record bonuses of $30 billion this year

The country&rsquo;s largest mortgage lender, Housing Development Finance Corporation (HDFC), plans to exercise the warrants issued by HDFC Bank into equity. Following the conversion in early December, HDFC&rsquo;s stake in the bank will rise to almost 24 per cent.

HDFC to convert Bank warrants

Subscribers of the low-cost version of the New Pension Scheme (NPS), called CRA Lite, will not be allowed to open a second savings account unlike normal subscribers.

No Tier-II account for poor NPS subscribers

Andhra Bank, whose insurance venture with Bank of Baroda and Legal &amp; General was launched today, has approached the regulator to protect the trail commission it stands to earn from its distribution tie-up with Life Insurance Corporation of India (LIC).

Andhra Bank seeks nod for LIC trail commission

Japanese investors who lived through a decade of deflation and recessions say US Treasuries are a bargain even with yields at about the lowest levels since at least the 1960s.

Japan tops China in buying US Treasury

Canara HSBC Life Insurance is planning to foray into group insurance by the beginning of the next financial year. It is also working on products for high net worth individuals and the rural market and to bring volumes in a bid to double its premium income to Rs 1,000 crore by the end of the year.

Canara HSBC plans group insurance foray in FY11

Continuing with its rising streak for the fifth day, the rupee appreciated by 6 paise in early trade today to hit a three-week high at 46.39 against the US dollar, supported by firming Asian stocks.

Rupee hits three-week high, rises 6 paise at 46.39/$

Royal Sundaram Alliance Insurance Company a non-life insurance joint venture between Sundaram Finance and UK&rsquo;s RSA today tied-up with with Geojit BNP Paribas-financial services provider, to offer savings and investment solutions.

Royal Sundaram, Geojit BNP Paribas in deal to sell policies

ING Life today launched a unit-linked investment solution, ING Flexi Life Plus, which offers flexibility in premium payments as well as the convenience to change premium amount during the term.

ING Life launches new investment solution

Health insurer Apollo DKV today said it expects to double its premium collection to over Rs 100 crore in the current fiscal.

India Eco Summit: Apollo DKV sees 100% rise in premium kitty

State-owned Union Bank of India (UBI) today said it has sought financial assistance to the tune of Rs 1,800 crore from the government to meet credit growth in the coming years.

India Eco Summit: UBI seeks Rs 1,800 cr from govt

British banking major Barclays today reported a fall of 54 per cent in the third quarter profit after tax at 1.07 billion pounds, impacted by rising impairment charges.

Barclays' Q3 net dips 54% to 1.07 bn pounds

The country's largest private sector lender, ICICI Bank, today said there would be no revision in interest rates for sometime, even as major players like State Bank of India (SBI) and Punjab National Bank (PNB) have slashed deposit rates.

India Eco Summit: No change in interest rates, says Kochhar

British financial service firm Lloyds Banking Group Plc will slash 5,000 jobs by the end of next year, a media report says.

Lloyds to slash 5,000 jobs by next year-end: report

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