Public-sector lender, Union Bank of India (UBI) today cut interest rates on foreign currency non-resident (bank) account deposits and non resident external rupee term deposits with immediate effect.

Union Bank cuts foreign currency deposit rates

Press Trust of India

Higher rewards, challenges drive former fund managers to launch own funds.

PE veterans start out on their own

Business Standard

With nearly 20 per cent of its Rs 6,000-crore corpus invested in clean energy, IDFC Private Equity has identified clean technology as a focus area. The seven-year-old company, which manages three funds, has committed over Rs 1,100 crore to nine companies, the latest being Krishna Godavari Gas.

IDFC PE banks on green technology

With the government expected to push for the passage of the Bill to provide legislative backing to the Pension Fund Regulatory and Development Authority (PFRDA), the regulator has decided to rope in professional advisors to finalise the guidelines for the sector.

Pension regulator seeks advisors to fix norms

State-run Union Bank is not likely to cut lending rates although the cost of funds may start coming down from the third quarter of the current financial year (2009-10).

Union Bank not to cut lending rates despite fall in cost of funds

The government is unlikely to reverse its expansionary policy, aimed at spurring investments and growth, in the current financial year ending March, Planning Commission&rsquo;s report on its economic outlook said today.

Plan panel says expansionary policy unlikely to be reversed in 2009-10

The country&rsquo;s largest lender, State Bank of India (SBI), today launched a new programme, Citizen SBI, aimed at attitudinal change and transformation of its employees through a series of human resources activities.

SBI launches fresh HR initiative

Shriram Life Insurance (SLIC) today launched a unit-linked premium plan &mdash; Shriram Pension Plan &mdash; which gives clients varied options to invest their money and receive maximum returns post-retirement.

Shriram Life unveils pension plan

In a bid to ensure that high networth individuals (HNIs) stayed with them, public sector banks, including State Bank of India (SBI), Union Bank of India, Bank of Baroda (BoB) and Bank of India (BoI), have been climbing on the wealth management bandwagon in recent months.

Now, govt banks out to manage wealth

The committee set up to look into the issue of regulating investment advice would submit its report to the government by the month- end.

Investment panel to submit report by month-end

The Indian rupee today fell by another 15 paise to hit one-and-a-half month low of 49.18 against the $ in early trade, extending its slide for the third straight day, on expectation of heavy capital outflows and increased $ demand from importers.

Re down 15 paise at 49.18 a $, hits 1-1/2 month low

The country's largest private sector lender ICICI Bank has allotted a total 30,158 equity shares pursuant to conversion of options under the Employees Stock Option Scheme, 2000 (ESOPS).

ICICI allots 30,158 shares under stock options

Dhanalakshmi Bank is planning a brand transformation initiative which will include changing the logo and related branding treatment across all its customer touch-points.

Dhanalakshmi Bank plans brand transformation

Allahabad Bank is restructuring its financial services subsidiary, AllBank Finance Ltd, to widen its operations, currently limited to merchant banking services and allied fee-based activities like distribution of mutual funds.

Allahabad Bank to restructure its subsidiary AllBank Finance

In times when spiralling food prices seem to be pinching the wallet on a daily basis, fierce competition among financial institutions and strict regulatory actions are ensuring that your investment costs have started falling.

Your investment cost just got lower

Interest rate futures (IRFs), which made a comeback this Monday after six years, has opened up a lot of interesting options for an individual.

Hedging loans with interest rate futures

India&rsquo;s largest lender State Bank of India (SBI) is firming up a special scheme to meet credit needs of farmers, especially those in regions hit by delayed monsoon and drought-like conditions.

SBI working on special farm loan scheme

The government and the Reserve Bank of India (RBI) seem to be taking a tough stand on the appointment of retired advisors at state-owned banks.

Govt, RBI may clip wings of state-owned bank advisors

Allahabad Bank is widening the operations of its financial services subsidiary, AllBank Finance Ltd, which is at present limited to merchant banking and allied fee-based activities like distribution of mutual funds.

AllBank's arm to focus on new broking, depository services

42% rise in new business premium helps the industry clock decent growth.

LIC saves the day for life insurers

Thrissur-based Dhanalakshmi Bank has hired London-based design consultant Fitch to revamp its brand which will include changing its logo. The 82-year bank, however, will not change its name. The new brand identity along with marketing exercise is expected to start by the end of the current year.

Dhanalakshmi goes for image makeover

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