Development Credit Bank (DCB) today said it has raised Rs 81 crore by private placement of shares with qualified buyers.

DCB raises Rs 81 cr via QIP, promoter stake reduces to 23%

Press Trust of India

Private life insurance player, ICICI Prudential Life Insurance, on Thursday tied up with India Post to reach out to rural markets through the latter&rsquo;s network of 16,159 post offices across Andhra Pradesh.

ICICI Pru ties up with India Post in Andhra

Business Standard

Nabard Consultancy Services Private Limited (Nabcons), a wholly owned subsidiary of Nabard established in 2003, is planning to further penetrate in Africa, after opening a representative office in Nairobi, Kenya to cater to the markets in African continent.

Nabcons plans expansion in Africa

Bangalore-based public sector lender Canara Bank today opened 104 new branches across the country to mark the 104th anniversary of the bank. The bank was founded on November 19, 1906, in Mangalore. The bank aims to scale up the number of its branches across India from 2966 to 3,000 branches by December 2009. The 104 branches were inaugurated by Union Finance Minister Pranab Mukherjee in New Delhi.

Canara Bank opens 104 branches

A day after meeting finance ministry officials to discuss the consolidation roadmap for public sector banks, Canara Bank today indicated that it would opt for acquisition to strengthen its presence in Gujarat, Haryana and Maharashtra.

Canara Bank starts hunt for acquisition

Most of the country&rsquo;s 100 blocks without a bank branch are in the North-East.

Govt gets proactive on financial inclusion

State-owned Andhra Bank has enough capital and there was no need for government funds or follow-on public offer to meet its 20-25 per cent growth target for 2009-10 (April-March), Chairman and Managing Director RS Reddy said today.

No need for fresh equity, says Andhra Bank CMD

India&rsquo;s largest private sector lender, ICICI Bank, is planning to raise funds for its overseas branches through five-year dollar-denominated senior unsecured notes issued through its Bahrain branch.

ICICI to raise funds for overseas business

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

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

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

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