To meet concerns that hybrid debt failed to absorb losses.

Lloyds to issue up to $13 bn of ECN securities

Business Standard

The Insurance Brokers Association of India (IBAI) today demanded implementation of a mechanism to reduce delays in renewal of licences and dub-bed the recommendations of the Swarup Committee as being &ldquo;unpractical&rdquo; and &ldquo;misconceived&rdquo;.

Implement mechanism to reduce delay in licence renewal: IBAI

Press Trust of India

Industrial Bank Co plans to raise 18 billion yuan ($2.6 billion) in 2010 in the third-largest share sale announced by a Chinese lender this year to ensure it has enough capital to meet increasing loan demand.

Industrial Bank to raise $2.6 billion from share sale

The National Bank for Agriculture and Rural Development (Nabard) has sanctioned soft-loan of Rs 4392-crore to the Orissa government under the Rural Infrastructure Development Fund (RIDF) since the inception of the scheme in 1994. The amount includes Rs 398 crore sanctioned this year.

Nabard sanctions touch Rs 4,392 crore

The All India Regional Rural Bank Employees Association wants regional rural banks to have a greater autonomy in opening branches in the rural areas, and hence in the process of financial inclusion.

Regional rural bank staff for more autonomy in opening branches

The Indian rupee today depreciated by 10 paise to 46.57 against the US currency in early trade largely in line with other weak Asian currencies.

Rupee down 10 paise at 46.57/$ in early trade

Subir Gokarn today took charge as the deputy governor of the Reserve Bank of India (RBI) for a three-year term in place of Rakesh Mohan, who had resigned earlier this year.

Subir Gokarn takes charge as RBI deputy governor

Public-sector lender Punjab National Bank (PNB) today said it will buy a majority stake in Kazakhstan-based Dana Bank this fiscal for a consideration of around Rs 93 crore.

PNB to buy 64% stake in Dana Bank for Rs 93 cr

The troubled financial services major Citigroup today said it is selling its Diners Club North America card business to BMO Financial Group, as part of its strategy to sell its non-core businesses and generate long term profits.

Citi sells Diners Club North America cards biz

For the 4,000-odd people who retired from the Reserve Bank of India (RBI) before 1997 and are now in their 70s, the new year will not start on a happy note as they will see their pensions reduced from January.

Pre-97 RBI staffers may get less pension from next yr

Deutsche Bank, a relatively new entrant in retail banking, is expecting a 25 per cent growth in retail loan portfolio this financial year as it increases focus on mortgage lending.

Deutsche pitches for 25% growth in retail loans

Encouraged by the success of a pilot to implement the smart card-based electronic benefit transfer (EBT) system on &ldquo;one district, many banks&rdquo; model in three districts of the state, Karnataka has shown interest in implementing the scheme in another three districts on a &ldquo;one district, one bank&rdquo; model.

State to test RBI's new formula for financial inclusion

Completion financing, or last-mile funding, where developers get funds to complete projects stuck midway, is catching on among private equity (PE) funds.

Completion funding catches PE&#39;s fancy

What do Cannan Partners and Indian Institute of Management-Ahmedabad have in common? They have both appointed an entrepreneur-in-residence (EIR).

Venture funds turn to entrepreneurs-in-residence

Lloyds Banking Group Plc, the UK&rsquo;s biggest mortgage lender, plans to raise a record 13.5 billion pounds ($22.3 billion) in the country&rsquo;s biggest rights offering, selling shares at a 59.5 per cent discount. The bank gained in London trading.

Lloyds Banking to raise $22.3 billion in rights issue

Subir Gokarn, who took over as the Reserve Bank of India (RBI) Deputy Governor today, said economic recovery, which was still in its early days, was sluggish and not broad based.

Recovery not broad based: Gokarn

Along with Subir Gokarn&rsquo;s appointment as the fourth deputy governor, the Reserve Bank of India (RBI) today reshuffled some of the key portfolios of its deputy governors and executive directors.

Reserve Bank rejigs top portfolios

Payments made using electronic and online modes for purchasing goods and services should be settled within two days of completion of the transaction, the Reserve Bank of India said today.

Settle online payments within two days: RBI

The Indian rupee today strengthened by 8 paise to 46.29 against the US currency in early trade, extending gains for the third straight day in line with firm Asian currencies.

Rupee up by 8 paise at 46.29/$ in early trade

Reserve Bank today said the asset-liability mismatch may pose a huge challenge for banks doing infrastructure lending, and they need to sharpen their risk management tools to avoid defaults.

Infra financing a big challenge for banks: Subbarao

Gold climbs to an all-time high of Rs 18,000 per ten gram in New Delhi.

NEWSALERT: Gold climbs to an all-time high of Rs 18,000

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