The government has set up a standing committee on infrastructure finance, which will be headed by Finance Secretary Ashok Chawla, according to a government official. The committee will comprise 11 members, including Planning Commission secretary, RBI deputy governor, Irda chairman, and IIFCL chairman.

Govt forms standing committee on infra financing

Business Standard

The rupee rose to a seven-week high against the US dollar on expectations that portfolio investors will pump more money into Indian stock markets due to an improvement in global economic sentiments.

Rupee rises to seven-week high

ICICI Bank's cautious approach to financing 'high-risk' realty firms seen as the reason.

Sensitive sector lending growth slows to 14.18%

The government has identified at least eight candidates for appointment as executive directors in various state-owned banks as some of the present executive directors have retired or will retire and some others are likely to be promoted as chairpersons and managing directors.

8 shortlisted for top banking jobs

A precedent-setting order by the Authority for Advance Ruling (AAR) could enable foreign companies exiting their India joint ventures to pay long-term capital gains tax at a concessional 10 per cent rate instead of linking it to a complex indexation formula that requires multiple foreign currency conversions.

Capital gains tax blow may soften for foreign firms exiting JVs

The Australia and New Zealand Banking Group (ANZ) today said that it would pursue a banking licence in India and later explore acquisition opportunities.

ANZ seeks RBI nod for retail banking

The Visakhapatnam zone of Andhra Bank is targeting Rs 3,400 crore business during the current financial year.

Andhra Bank eyes Rs 3400cr biz in Vizag

Raghuram Rajan, author of the latest report on financial sector reforms, today said that the Reserve Bank of India (RBI) should distance itself further from the government to preserve its credibility at a time when the Centre was rapidly borrowing to fund deficit.

RBI shouldn't play the role of govt's debt manager: Rajan

Leading private sector lender Axis Bank will issue 71.4 million fresh equity shares through Global Depository Receipts (GDRs) or qualified institutional placement (QIP) to support growth.

Axis Bank plans to raise up to Rs 5k cr

The initial response to films funded by cinema-focused venture funds might not have been overwhelming, but that is not stopping them from promising high returns.

Cinema VC funds unfazed by flops

Canara Bank has expanded its network of &ldquo;SME Sulabh&rdquo; centres to 7 more cities. The SME Sulabh is a centralised loan processing centre for micro, small and medium enterprises (MSME) of the bank. It is now available in Agra, Chandigarh, Kolkata, Lucknow, Madurai, Pune and Trivandrum. The &ldquo;SME Sulabhs&rdquo; are aimed at fast processing and quick delivery of credit to MSMEs.

CanBank expands SME loan processing centres

Refusing to name acquirer, RBS says deal may be sealed soon.

StanChart close to buying RBS retail assets in India

UBS AG, Switzerland&rsquo;s largest bank by assets, will see further withdrawals by wealthy clients after reporting a third consecutive quarterly loss, Chief Executive Officer Oswald Gruebel said.

UBS chief expects client withdrawals

500 cash-strapped partners help private financier tide over the crisis.

Shriram Finance joins hands with small players, beats slowdown

Standard Chartered Bank, India&rsquo;s second-largest foreign lender by assets, said it continued to evaluate the option of listing in India.

StanChart says IDR plan on the table

State-owned Corporation Bank has said it is planning to recruit 1,400 during the current financial year. &ldquo;We are planning to hire 1,400, including officers, during the current fiscal,&rdquo; Corporation Bank Chairman and Managing Director J M Garg said.

Corporation Bank to recruit 1,400 in current fiscal

Press Trust of India

The government has ignored the World Bank&rsquo;s (WB) suggestion for a roadmap on reducing its holding in public sector banks (PSBs) as part of the loan negotiation to recapitalise them.

Govt sidesteps WB on PSB stake

The total value of deals, including mergers and acquisitions (M&amp;As) and private equity (PE), in the first half of 2009 dropped 66 per cent to $7.81 billion from $23.02 billion in the first half of last year.

Value of deals falls 66% in H1: Grant Thornton

Private equity fund Red Fort Capital will pick up around 50 per cent stake in a Noida residential project, a source familiar with the development said.

Red Fort Capital to pick up 50% stake in Noida project

The revised rate is as low as 8.50 per cent for vehicle loans during the first 12 months, 9.50 per cent during the next 24 months, 10 per cent for period above 36 months to 60 months.

Canara Bank cuts auto loan rates

Reserve Bank of India has asked banks that are not participating in the bank strike on Thursday and Friday to not present, on both days, cheques for clearing drawn on banks participating in the strike.

RBI to banks: Don't present cheques to those on strike

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