Indian Oil Corporation (IOC) and South Indian Bank (SIB) on Saturday signed a memorandum of understanding to start the latter's ATMs at IOC outlets across the country.

IOC outlets to have South Indian Bank's ATMs

Business Standard

Post offices would no more limit its banking system to old and traditional technology and would adopt Core Banking System, on the pattern of other commercial banks by the end of current financial year.

Post offices to enter core banking system by March 2010

Press Trust of India

Anil Ambani group firm Reliance Life Insurance is aiming to receive premium of around Rs 1,000 cr in the next five years from micro insurance space and is planning to introduce new products to cater to the savings needs of this segment.

Rel Life aims Rs 1,000 cr premium from micro insurance in 5 yrs

Two more US banks went belly up last week, pushing total failures to a whopping 94 entities so far this year in the country, even as the economy is showing signs of recovery.

US bank collapse toll reaches 94 so far in 2009

Financial services major Citigroup's top executive Tom King is leaving the company after 20 years of service and is likely to join Barclays Plc, a media report said.

Citi's Tom King quits, likely to join Barclays: report

Riding on the initial success of micro insurance scheme, state-run Life Insurance Corporation of India (LIC) is aiming to nearly triple its business by selling over 40 lakh policies in the current fiscal.

LIC to triple micro insurance biz, eyes 42 lakh policy sales

The Chennai-based Indian Overseas Bank (IOB) intends to go for Business Process Re-engineering (BPR) of its operations as a performance boosting measure.

IOB to go for business process re-engineering soon

To reach out to the people in the unbanked rural areas, the State Bank of India (SBI), the largest public sector bank, plans to cover all the Gram Panchayats (Gps) of Orissa under &lsquo;Business Correspondence Model&rsquo;. This is being done in line with the Reserve Bank of India (RBI) guidelines on financial inclusion.

SBI plans 'Business Correspondent' model  for all GPs

Karur-based Lakshmi Vilas Bank (LVB) is planning to raise Rs 265 crore through rights issue.

LVB to raise Rs 265 cr via rights issue

Public sector player Punjab &amp; Sind Bank (PSB) is drawing up plans to privately place equity shares with institutional investors ahead of an initial public offer next year.

Pvt placement debuts in public sector banks

Convertible bonds from large-cap companies being sought by foreign investors.

Rally eases redemption pressure on FCCB issuers

Reserve Bank of India (RBI) Deputy Governor Usha Thorat on Monday said India needed to build foreign exchange reserves when the going was good, so that it could use them as a buffer during crises.

Need to build up forex reserves as buffer against crises: Thorat

Royal Bank of Scotland Group Plc, Britain&rsquo;s biggest government-controlled bank, is in talks with shareholders to gauge the appetite for a potential rights offering, two people familiar with the talks said.

RBS may raise $8.1 bn in share sale

After having a minor presence in India for more than three decades, French banking group Societe Generale (SocGen) is now counting on India along with China to offer major growth opportunities in the next three to five years.

SocGen looks to India for growth

The Indian rupee today fell marginally by 3 paise to 48.16 against the US dollar in early trade, on expectations of fresh capital outflows, as the stock market may open lower in line with mixed trends in other Asian markets.

Re down 3 paise at 48.16 a $ in early trade

The Indian rupee fell by 10 paisa at 48.23 against the US dollar in morning trade today on month-end dollar demand.

Re turns weaker by 10 paisa against $

Private sector lender Lakshmi Vilas Bank is planning to raise Rs 240 crore to 300 crore through the issue of shares on rights basis.

Lakshmi Vilas Bank to raise Rs 240-300 cr via rights issue

Banks use a part of their liquid funds for lending and state govt auctions.

Parking under LAF dips below Rs 100,000 crore

Dewan Housing Finance (DHFL) has raised Rs 250 crore through private placement of debt and plans to raise another Rs 500 crore through private placement of non-convertible debentures (NCDs) in the current financial year, according to Vice-Chairman and Managing Director Kapil Wadhawan.

Dewan Housing Finance raises Rs 250 cr debt

Inching closer to taking over Catholic Syrian Bank (CSB), one of the oldest private sector lenders in Kerala, Federal Bank has started the process of financial due diligence. Leading consultancy firm KPMG is doing the job for Federal Bank.

Federal Bank starts due diligence to acquire CSB

Rupee advanced to the strongest closing level in six weeks on optimism foreigners will pour more money into the nation&rsquo;s shares, lured by the economy&rsquo;s relatively fast growth.

Re at six-week high as stocks attract investors

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