Subir Gokarn, chief economist for Asia-Pacific at global ratings agency Standard and Poor&rsquo;s and a Business Standard columnist, is slated to be appointed as a deputy governor of the Reserve Bank of India (RBI).

Order soon to make Gokarn RBI deputy governor: FM

Business Standard

The recent farm debt waivers announced by the Centre have potential to cripple the healthy Indian banking sector.

'Farm debt waiver can cripple Indian banking sector'

GMAC, the lender that received two government bailouts totaling $13.5 billion, is in talks with the Treasury Department to receive a third lifeline, a person familiar with the matter said.

GMAC may receive third bailout from US government

Seek inclusion of write-offs; RBI says no to deadline extension.

Banks ask RBI to ease higher loan-loss coverage burden

The Reserve Bank of India (RBI) and the finance ministry have not resolved the issue of the status of the seven private sector banks categorized as foreign-owned under the new Foreign Direct Investment (FDI) norms, said Reserve Bank of India (RBI) Governor D Subbarao.

Ownership issue still not resolved, says Subbarao

The new Foreign Direct Investment (FDI) norms, which stipulate changes in the way foreign investment in a domestic company is calculated, have put a roadblock in the path of credit information bureaus, which are eager to rope in private sector banks as investors.

Credit information bureaus trip on new FDI norms

Extending its losses for the fourth day, the Indian rupee today depreciated by 25 paise in early trade to 47.59 against the US currency, largely on the back of dollar's gains against other major units and on heavy month-end demand from oil companies.

Rupee down 25 paise at 47.59/$ in early trade

Press Trust of India

The country's second-largest public sector lender, Punjab National Bank (PNB), today said it plans to buy a majority stake in a bank in Kazakhstan, for an estimated $24 million, which would be its&nbsp; first overseas acquisition.

PNB to acquire 63% stake in Dana Bank of Kazakhstan

The Bill conflicts with the Banking Regulation Act.

RBI wants exemption from Company Bill provisions

Shriram Life Insurance, a joint venture between the Shriram group and South Africa-based Sanlam Life Insurance, is likely to invest Rs 40 crore in expansion.

Shriram Life to infuse Rs 40 cr in insurance biz

PNB, Corp Bank and Vijaya Bank&rsquo;s profits rise.

Higher provisioning drags BOI, IOB net down

Mutual funds run by companies including BlackRock Inc. and T. Rowe Price Group Inc. have begun buying bonds through a $1 trillion government lending programme after a June regulatory ruling cleared the way.

BlackRock, T Rowe Price seek Fed loans to buy bonds

The Reserve Bank of India (RBI) has approved United Bank of India&rsquo;s (UBI&rsquo;s) initial public offering (IPO), which will reduce the government stake in the bank by 16 per cent.

United Bank plans to launch IPO by January

LIC Housing Finance posted a 27 per cent rise in its net profit to Rs 171.25 crore for the quarter ended September 30 as compared to Rs 135 crore in the year-ago quarter. The growth was helped by an Rs 41.69 crore write-back on provisions.

LIC Housing Finance net surges 27%

As an immediate step towards providing relief to the population affected by drought and floods, Andhra Pradesh chief minister K Rosaiah has urged banks to convert all the crop loans sanctioned up to September 15, 2009, into term loans.

Banks urged to convert crop loans to term loans

National Housing Bank (NHB), a wholly-owned subsidiary of the Reserve Bank of India (RBI) for promoting housing finance institutions, is planning to raise Rs 12,000 crore, primarily through bonds, by June 2010. As a first step, it is planning to raise Rs 500 crore through bonds in the next two weeks.

NHB to raise Rs 12,000 cr by June 2010

At a time when the government is pushing banks to go for financial inclusion, the National Bank for Agriculture and Rural Development (Nabard) has suggested that banks be allowed to extend small credit at higher rates.

Allow banks to charge more for small loans: Nabard

The Indian rupee strengthened by 32 paise at 46.88 a dollar in early trade today following dollar's weakness against other Asian currencies.

Rupee soars 32 paise to 46.88 against dollar

State-run lender Oriental Bank of Commerce (OBC) plans to recruit about 1,550 personnel, including 100 marketing managers, over the next six months in order to meet its man-power requirement and proposed branch expansion.

OBC to recruit 1,550 personnel in 6 months

India's foreign exchange reserves rose by $684 million for the week ended October 23 to $285.520 billion from $284.836 billion in the previous week.

Forex reserves up $684 mn to $285 bn

Mangalore-based public sector lender, Corporation Bank, has shown a 28.5 per cent growth in its total business to Rs 133,456 crore for the half year ended September 2009 compared to the corresponding period last year.

CorpBank registers 28.5% rise in total business

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

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