The country's largest lender, State Bank of India, has chalked out strategies to grow aggressively in overseas markets, especially Singapore, in this fiscal, a top SBI official said.

SBI upbeat on foreign expansion; to scale up Singapore Operations

Press Trust of India

Citigroup has raised $5 billion via government-backed bonds, a move which may make it difficult for the financial services major to persuade the US government to lower its 34 per cent stake in the bank, a media report says.

Citi raises $5 bn through govt-backed bonds: report

A Reserve Bank of India (RBI) working group is likely to recommend two types of benchmark prime lending rates &mdash; one for retail loans and another for wholesale borrowers &mdash; to bring in more tranceparency and may put a ceiling on advances given below these rates.

RBI group likely to moot two PLRs; cap on sub-PLR lending

The Reserve Bank of India (RBI) is not in favour of a multiple benchmark prime lending rate (BPLR) mechanism as proposed by bankers.

RBI not in favour of multiple BPLRs

Business Standard

The Reserve Bank of India (RBI) has directed that the fraud risk management and fraud investigation function of a bank must be owned by the bank's chief executive officer, its audit committee and the special committee of the bank's board for high-value frauds.

RBI: Onus of fraud probe, management on banks

The country&rsquo;s largest lender, State Bank of India (SBI), has chalked out strategies to grow aggressively in overseas markets, especially Singapore, in this fiscal, a top SBI official said. This would help the Indian banking behemoth to move a step closer to consolidate its position in the global financial services industry.

SBI upbeat on foreign growth, to scale up Singapore ops

Banking stocks have gained between 5 per cent and 11 per cent on the Bombay Stock Exchange (BSE) in the last two days on higher advance tax payments by banks and a correction in valuation of small banks.

Bank stocks surge on hope of better profits

LIC Housing Finance, the second-best performer among non-banking finance stocks in Asia this year has raised $135 million selling shares to institutional investors in order to boost mortgage lending in India.

LIC Housing Finance raises $135 million in stock sale

Reserve Bank of India Governor D Subbarao is scheduled to meet a group of select bank chiefs on Friday to assess the resource mobilisation situation and also seek their inputs for the next month's second quarter review of the monetary policy.

RBI, bankers to mull fund-raising on Friday

A year after the bankruptcy of Lehman Brothers Holdings Inc, credit-default swaps (CDS) have lost their stigma for disaster and are contributing to the growing confidence in the credit markets.

Credit swaps lose crisis stigma as confidence returns

Thrissur-based South Indian Bank is aiming for a net profit of Rs 230 crore by the end of this financial year, by systematically repricing deposits and increasing fee-based income.

South Indian Bank aims Rs 230 cr net profit this fiscal

Chennai-based Sical Logistics on Wednesday said it had received approval to invest around Rs 368 crore &mdash; its equity portion &mdash; in the seven subsidiary companies that are executing projects worth Rs 938 crore during the current financial year.

Sical gets shareholders' nod to invest Rs 368 crore

Hyderabad-based SKS Microfinance, which has launched micro-insurance project &lsquo;Swayam Shakti Suraksha&rsquo; in partnership with Bajaj Allianz Life Insurance to cover its members, has now decided to launch a similar product to cover members&rsquo; husbands.

SKS to extend micro-insurance cover

The ripple effects of the fall of Lehman Brothers in September last year is evident in the field of global mergers and acquisitions (M&amp;A), which have shrunk nearly 40 per cent since then.

Horror of Lehman's fall haunts global M&A space

The Indian rupee rose to a new one-month high after gaining 26 paise against the US currency in the opening trade today as exporters sold dollar, which weakened against major currencies.

Rupee rises by 26 paise in opening trade

Financial services firm Citigroup has hired Rodney Tsang, one of the Bank of America Merrill Lynch's top China investment bankers, to strengthen the bank's presence among the Chinese private sector firms, says a media report.

Citi hires BofA's Tsang for China banking

India's largest lender, State Bank of India (SBI) plans to set up an administrative office in UK by end-fiscal, which would act as a hub for the bank to control its European operations, Chairman O P Bhatt said today.

UK to be major global hub for SBI to control Europe ops: Bhatt

Despite reasonably comfortable liquidity conditions, the long term bond yields have inched up significantly during the last few months. The yield on the benchmark 10-year bond surged by almost 100 basis points between April 17, 2009 and and September 10, 2009. The huge Government borrowing programme for the current fiscal to fund the mounting fiscal deficit has largely been responsible for the spike in the G-sec yields.

Web Exclusive: Yields in bond market expected to remain at current levels

Country's third-largest private sector lender Axis Bank today said it has started the process of raising funds through private placement, an exercise estimated to raise over Rs 5,000 crore.

Axis Bank to raise over Rs 5,000 cr from QIP, GDR

The Reserve Bank of India (RBI) has requested all Registrars of Co-operative Societies (RCSs) to restrict individual shareholding in an urban co-operative bank (UCB) to 5 per cent of the total paid-up share capital.

New shareholding norms for UCBs

Interest rates may harden a bit by the end of the current financial year, according to C Rangarajan, chairman of the Prime Minister&rsquo;s Economic Advisory Council.

Rates may harden by fiscal end: Rangarajan

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