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

Business Standard

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

Despite advisory, banks park funds with MFs

State-run Union Bank of India today announced the appointment of Subhash Chander Kalia as its Executive Director.

S C Kalia takes over as Union Bank ED

Press Trust of India

Shubhalakshmi A Panse has taken charge as Executive Director of Vijaya Bank.

Shubhalakshmi Panse takes charge as Vijaya Bank ED

Federal Reserve officials are stepping up scrutiny of the biggest US banks to ensure the lenders can withstand a reversal of soaring global-asset prices, according to people with knowledge of the matter.

Banking regulation prime concern: Fed

The recent case of Union Bank of India getting caught in the crossfire in Madhu Koda dealings has put banks on high alert and most were looking to tighten their scrutiny of transactions, especially those involving large cash movement, senior bank officials said.

Koda scam forces banks to tighten cash norms

Four other banks ready to tap the market.

ICICI raises $750 mn in overseas bonds

With an experience in managing complex work programmes, Indian economist Siddharth Tiwari has been named as secretary of the International Monetary Fund (IMF) by its Managing Director Dominique Strauss-Kahn.

Indian appointed to key IMF post

Consolidation of banks is good in a way as it envisages healthier banks in the global scenario and banking market, believes Canara Bank Chairman and Managing Director (CMD) A C Mahajan.

Consolidation of banks good in a way: Canara Bank CMD

&quot;Despite the slowdown in the economy, life insurance industry has continued to grow as policyholders are realising the value of insurance. We continue to be optimistic about the future of the insurance business in India and expect the industry to grow about at 15 per cent,&quot; Life Insurance Council Secretary General S B Mathur said in a statement.

Life insurance ind to clock Rs 2.5 lakh cr premium

Global rating agency Moody&rsquo;s has retained a negative outlook on the Indian banking system due to the adverse effect of sticky loans and the challenging economic conditions.

Moody's retains negative outlook on Indian banking system

Royal Bank of Scotland Plc sold $7 billion of debt due in March 2012, according to data compiled by Bloomberg, equaling the largest US corporate sale since May.

Royal Bank of Scotland sells $7 bn of debt

Morgan Stanley agreed to hand over a real-estate business acquired in 2007 to Barclays Capital, ending the New York firm&rsquo;s obligation on a $2 billion loan after taking almost $1 billion in losses.

Morgan Stanley hands over Crescent to Barclays venture

The Reserve Bank of India&rsquo;s second quarter monetary policy review signalled an exit from the central bank&rsquo;s accommodative stance, leading many to believe that interest rates would move in only one direction &ndash; north.

Bank rates go down in spite of RBI signal

The Indian rupee strengthened by 16 paise to 46.45 against the US currency extending Friday's gains in early trade today on hopes of increased capital inflows into equity and dollar selling by exporters.

Rupee up 16 paise at 46.45/$

Allahabad Bank is planning to come out with upper Tier II Bonds (Series II) amounting to Rs 500 crore shortly with a coupon rate 8.58 per cent per annum for first 10 years and step up coupon rate of 9.08 per cent per annum for last 5 years.

NEWSALERT: Allahabad Bank to raise Rs 500 cr via upper Tier II bonds

As a first initiative of its kind in India, a World Bank entity will provide credit facility of up to $51 million to Kotak Mahindra Bank to help small and medium enterprises, hit hard by the global financial crisis, meet their export and import obligations.

Kotak Mahindra gets $51 mn credit from WB entity

Global rating agency Moody's today retained its bleak outlook for the domestic banking industry saying the overall economic conditions are tough and the number of bad debts increasing in the system.

Moody's retains negative outlook on banking

Subir Gokarn, former chief economist of rating agency Standard and Poor's (S&amp;P), will take over as the Reserve Bank of India's (RBI) deputy governor tomorrow.

Subir Gokarn to take over as RBI deputy governor tomorrow

The Reserve Bank of India (RBI) has directed banks to keep a watch on transactions of customers with countries like Pakistan and Iran since concerns have been raised about rules there in combating terror funding.

RBI alerts banks on transactions with Iran, Pak

The Insurance sector is expected to witness a compounded growth rate of 10 per cent in 5-6 years, IRDA Chairman J Hari Narayan said today.

Insurance sector to see 10% growth in 5-6 year: IRDA

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