Every Saturday at 2:00 pm, once the branch has closed for the day, staffers at ICICI Bank&rsquo;s 1,500&ndash;odd branches will assemble for an army-style drill. Over the next two hours or so, they will be drilled by their branch manager on customer service covering everything from how to greet a customer to the necessary follow-up needed when a customer leaves.

ICICI takes up staff retraining to brush up image

Business Standard

Microfinance institutions (MFIs) in the country need Rs 2,500 crore equity to meet statutory requirements and expand footprint.

'MFIs need Rs 2,500 crore to meet norms'

The top management of the Reserve Bank of India (RBI) will brainstorm for three days, starting this evening, to find ways to deal with the growing manpower challenges that the central bank faces.

RBI starts brainstorming on HR challenges

Overseas funding is becoming more attractive for Indian companies with the cost of borrowing dollars falling to record lows.

Firms may raise more funds abroad

Brazil&rsquo;s latest move to curb capital inflows weighed on the rupee as traders feared similar action from the Indian government.

Re falls 1% on capital control fears

The finance minister Prafulla Chandra Ghadai today presented the first supplementary demand for grants of Rs 2799.59 crore for 2009-10 in the state assembly. It includes Rs 1230.87 crore outlay in the non-plan sector and Rs 1321.66 crore outlay in the plan sector.

Ghadai presents Rs 2799.59cr supplementary budget

IFCI, the Delhi-based non-banking finance company, plans to sale stake in 16 companies across the sectors, including, iron and steel, granite, hotels, food and electronics.

IFCI plans to offload stake in 16 firms

Development Credit Bank (DCB) today said it raised Rs 81 crore by private placement of shares with qualified buyers. After the qualified institutional placement (QIP), the promoter group&rsquo;s &mdash; Aga Khan Fund of Economic Development (AKFED) &mdash; holding in DCB came down to 23.11 per cent from 26.22 per cent earlier, Development Credit Bank said in a filing with the Bombay Stock Exchange.

DCB raises Rs 81 cr through QIP issue

Press Trust of India

With the developed world seeing a fragile recovery from the recession, projected to be a modest 1-2 per cent in the second half of 2009-10, a further financial crisis was not completely ruled out, said C Rangarajan, chairman of the Economic Advisory Council (EAC) to the Prime Minister.

Possibility of a financial crisis cannot be ruled out: Rangarajan

The Puducherry government has sought Rs 350 crore from the National Bank for Agriculture and Rural Development (NABARD) for infrastructure development work, including construction of rural roads, school buildings, storm water canals and augmentatation of drinking water supply.

Puduchery govt seeks Rs 350 cr NABARD loan for infra projects

The Indian rupee today depreciated marginally by 5 paise to 46.73 against the US dollar in opening trade largely on fears of fresh capital outflows by foreign funds as market may open weak in line with bearish trend in Asian equity markets.

Rupee down 5 paise at 46.73/ $ in opening trade

SBI Card, the credit card service offering from the State Bank and GE Capital, today launched mShop to enable its customers shop from over 100 merchants across the country, using their mobile phones.

SBI Card launches mShop

SKS Microfinance, a Hyderabad-based non-banking finance company, has expanded its network to Tamil Nadu.

SKS Microfinance enters Tamil Nadu

Securities and Exchange Board of India (Sebi) is in the process of examining whether registered portfolio managers invest in instruments other than listed securities, an official of the agency said.

Sebi examining investment avenues for portfolio managers

The 13th Finance Commission would submit its report containing recommendations mainly on the sharing of taxes between the Centre and the states to the President of India by the end of the year, its Chairman Vijay Kelkar said today.

13th Finance Commission report by Dec 31: Kelkar

Private sector insurer HDFC Standard Life today said it plans to come with an initial public offer (IPO) in the next fiscal.

HDFC Standard Life plans to hit capital market next fiscal

Public sector lender Punjab National Bank (PNB) today said it will raise Rs 700 crore by issues of bonds.

PNB to raise Rs 700 cr via bonds issue

India's foreign exchange reserves rose by $0.962 million to $286.376 billion for the week ended November 13 from $285.414 billion in the previous week, the Reserve Bank of India (RBI) said today.

Forex reserves up at $286.376 billion

JPMorgan Chase &amp; Co and Wells Fargo &amp; Co are arranging an $8 billion loan for Warren Buffett&rsquo;s Berkshire Hathaway Inc to help finance the takeover of railroad Burlington Northern Santa Fe Corp.

Buffett taps JPMorgan, Wells Fargo

Public sector companies may continue to lose interest income on their idle deposits as the government has decided against allowing banks to bid for their bulk deposits. Top public sector undertakings (PSUs), sitting on surplus cash of over Rs 1,00,000 crore, have been demanding re-start of the bidding as it ensures higher interest rates.

PSUs to lose out on interest

&ldquo;Credit growth is still subdued while deposits are growing at a much faster pace.

Despite advisory, banks park funds with MFs

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

Page 2776 - Finance News