Cricket fans were not the only ones left disappointed by the cancellation of the India-Australia one-day international (ODI) match today that was to be played at the DY Patil Stadium in Navi Mumbai. Public sector insurer Oriental Insurance will have to pick up the tab for claims worth Rs 6.75 crore.

Mumbai ODI washout hits Oriental Insurance

Business Standard

Cryobanks International India, a leader in umbilical cord blood stem cell banking, aims to expand its network in Orissa by involving more families in the state for storage of umbilical cord blood.

Cryobanks to step up awareness on stem cell banking

The country's second-largest lender, ICICI Bank, today entered into an agreement with the Singapore Mercantile Exchange (SMX) for providing clearing and settlement processing services to traders on the exchange.

ICICI Bank to act as clearing bank for SMX

Press Trust of India

The Reserve Bank of India (RBI) has pointed out serious lapses in the way banks sold derivative products in 2007 and 2008. This is part of RBI&rsquo;s reply to a questionnaire sent by the Central Bureau of Investigation (CBI). The Orissa High Court had last year asked the CBI and the Enforcement Directorate to submit a report on the derivative losses incurred by the industry last year.

RBI says banks didn't follow rules

Richard Griffiths, a managing director at Royal Bank of Scotland Group Plc in Hong Kong, resigned after 14 months with the firm, a person with knowledge of the situation said.

RBS' Griffiths resigns

The Indian rupee today depreciated by 11 paise to 46.41 against the US currency in early trade largely on fresh demand for the US currency from importers.

Rupee down 11 paise at 46.41/$ in early trade

Banks and financial institutions have been directed by the RBI to scan all existing accounts to ensure that these are not held by or linked to any entity or individual figuring in the UN list of terrorists or terror-related organisations.

RBI asks banks to update terror funding list

To afford a home of one&rsquo;s own is every person&rsquo;s dream.

Web Exclusive: Public disclosure of mortgaged lands

Swiss bank UBS has been fined 8 million pounds in the UK after four of its senior employees were found misusing funds of customers, including two companies of Indian industrialist Anil Ambani-led group.

UBS fined 8 mn pounds over staff misusing client accounts

Robert Benmosche, the chief executive of American International Group (AIG), has said he remains committed to lead the insurance firm through its challenges, amid reports that he was considering stepping down from the post.

AIG CEO wants to lead firm through challenges: report

Bihar will showcase itself as the &quot;land of boundless opportunities&quot; during the 29th India International Trade Fair (IITF) beginning here from November 14. This will be done through Bihar Pavilion where stalls of Madhubani, Mithila and Godna paintings, Madhubani Sari, Suzni work Sari, Laah-Churi will be the main attractions. It will also showcase Bihar's special delicacies including Litti-chokka, Tilkut and Laai, official sources said today.

Bihar to showcase culture, art, investment avenues at IITF

Market regulator Securities and Exchange Board of India (Sebi) is believed to be contemplating stricter rules for mutual fund (MF) houses as some of them are resorting to restrictive trade practice by creating irritants for investors wanting to shift to a new distributor.

Sebi mulling action on MFs for compliance on NOC withdrawal

Global banking major, Standard Chartered, which is widely expected to list its shares on the bourses here in the first half of next year, said the listing would enhance the lender's commitment to the local market. &quot;The issue of proposed Indian Depository Receipts (IDRs) demonstrates our commitment to India,&quot; Standard Chartered, Global CEO, Peter Sands said.

IDR listing to enhance StanChart's commitment to India: CEO

Domestic demand in India is rising, but the country does not have the matching supply, making it essential for it to rely on foreign capital, says international research firm Macquarie.

India needs foreign capital to meet growing demand: Macquarie

In a seeming contrast to disinvestment in other PSUs, the government is considering a proposal to increase its stake in select public sector banks where it holds close to the regulatory requirement of 51 per cent.

Govt may hike stake in few public sector banks

British banking major Standard Chartered today said its proposed local listing would enhance its commitment to Indian market.

India listing to cement our commitment: StanChart

The Reserve Bank of India (RBI) would submit a financial stability report on public and private sector banks by December this year, an official of the apex bank said today.

RBI to submit financial stability report in Dec

Bank unions have called for a countrywide bank strike on December 16 to protest the merger of State Bank of Indore with the State Bank of India.

Bank unions to strike on Dec 16 protesting merger

Sectors with export focus account for a majority of downgrades.

Credit downgrades hit record high

The key challenge being faced by the Reserve Bank of India (RBI) was managing the economic recovery process while anchoring inflationary expectations, Deepak Mohanty, executive director at the central bank said today.

RBI says balancing growth, inflation key challenge

The Anil Ambani group, whose accounts with Swiss banking giant UBS were among those misused by the bank&rsquo;s staff, today said these accounts in London had been closed and funds repatriated to India.

UBS accounts closed; funds back in India, says ADAG

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