State-owned Union Bank of India, which was planning to open 500 new branches during the current financial year, has scaled down its expansion plans due to the paucity of trained staff.

Union Bank to go slow on branch expansion

Business Standard

The Reserve Bank is likely to hike interest rates marginally in the fourth quarter of this fiscal to give a signal to the market, a top financial sector expert said.

RBI may hike interest rates in Q4FY10: Parekh

Press Trust of India

Dutch financial services major ING Group today said it will sell its Swiss private banking business to Switzerland-based Julius Baer for 344 million euros.

ING to sell Swiss pvt banking biz for 344mn euros

At the Interbank Foreign Exchange (forex), the Indian Rupee is still quoting at its year high at 46.67 per dollar.

Rupee at fresh 12-month high

The interest rate on US dollar deposits has been reduced to 2.26 per cent for a maturity of 1-2 years from 2.33 per cent. For the maturity of 2-3 years, the rate has been kept unchanged at 2.35 per cent, PNB said in a statement.

PNB cuts interest rates on non-resident deposits

Reserve Bank of India (RBI) Deputy Governor K C Chakrabarty today said the apex bank was concerned about the volatility of the rupee and not its appreciation or depreciation.

RBI concerned about volatility of rupee: Dy Governor

In a pointer to the continued recovery in the home loan segment, the country&rsquo;s largest mortgage lender, Housing Finance Development Corporation (HDFC), has seen a 30 per cent growth in loan approvals in the second quarter over the first quarter, Chairman Deepak Parekh said here today.

HDFC's Q2 sanctions up 30%

The race to succeed Kenneth Lewis as the Bank of America Corp chief executive has narrowed to two internal candidates, though the board is still looking for a new face for the USA&rsquo;s largest bank by assets, says a media report.

BofA narrows list for CEO post: Report

The Sensex today opened with a positive gap of 110 points at 17,069 on the back of strong global vibes. The index soon spurted to a high of 17,121 and thereafter exhibited a firm trend till noon trades. However, a subdued start to the European markets played its part in pulling the index into the negative terrain. Then on the index continued to exhibit volatility. The Sensex slipped to an intra-day low of 16,860 and finally ended at 16,806.66, down 151.88 points, or 0.90 per cent.

Sensex slips 152 pts on concerns over rupee rise

Central bank concerned with volatility, and not direction.

Re is more stable than others: RBI

Bank credit grew by 12.62 per cent &mdash; the slowest in six years &mdash; in the first half of this financial year compared to the corresponding period a year ago. Credit grew Rs 97,605 crore in April-September 2009, compared to Rs 180,000 crore in the same period last year.

Credit growth in first half slowest in 6 years

Reliance Capital expects a government waiver for floating its life insurance venture&rsquo;s initial public offering (IPO) by November 15, Chief Executive Officer Sam Ghosh said.

Reliance Capital sees govt waiver for life insurance co IPO by Nov 15

After having seen the impact of the Rs 60,000-crore farm debt waiver in the general elections, the government has planned to further spur the supply of money in rural areas by reimbursing the loan relief amount on a priority basis to regional rural banks (RRBs) and co-operative banks.

RRBs to get farm debt waiver funds from govt by mid-2010

Anil Ambani Group firm Reliance Life Insurance said Wednesday its asset under management (AUM) has crossed Rs 10,000 crore and it is aiming for a four-fold rise in the next four years.

Reliance Life's AUM cross Rs 10,000 cr

The Reserve Bank of India (RBI) has not approached the finance ministry on the issue of raising cap on banks&rsquo; held-to-maturity (HTM) gilt portfolio, a senior ministry official said Wednesday.

'RBI hasn't sought finmin view on banks' HTM cap hike'

Tata Group-owned British car maker Jaguar Land Rover today announced it had secured a &pound;175 million (Rs 1,300 crore) from State Bank of India. This comes over and above the $90 million (Rs 420 crore) committed export financing facility with ABC International Bank, the company said.

Jaguar secures Rs 1,300 cr loan from SBI

ICICI Bank, the country&rsquo;s largest private sector lender, which has identified infrastructure as one of its growth drivers, sees projects worth Rs 150,000 crore for achieving financial closure in the next three to four months.

ICICI Bank sees surge in lending for infra projects

The Indian rupee strengthened by another 30 paise to trade at one-year high of 46.36 a dollar in opening trade today, extending its rally for the fifth straight session, as corporates and exporters continued to sell dollars.

Re rises by 30 paise against $ in early trade

One of the shareholders of Bank of America (BofA) has opposed the firm's idea to zero in on an insider to replace its outgoing CEO Kenneth D Lewis and has described the current management team as &quot;tainted and not credible&quot;.

BofA shareholder opposes insiders as CEO candidates

The British and European central banks today left their key interest rates unchanged at low levels, continuing with their efforts to bolster the regions' economies.

Bank of England, European Central Bank retain key rates

The National Bank for Agriculture and Rural Development (Nabard) has pumped in Rs 10,000 crore till August to refinance banks, of the targeted Rs 33,500 crore, Nabard Chairman U C Sarangi said today.

Nabard pumps in Rs 10,000 cr to refinance banks

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