Australia&rsquo;s fourth-biggest lender will pay cash for ING&rsquo;s 51 percent stake in ING Australia and ING New Zealand, the Melbourne-based bank said in a statement today. Amsterdam-based ING, which received a &curren;10 billion ($14.6 billion) lifeline in October from the Netherlands, will book a profit of &curren;300 million from the sale, it said in a statement.

ANZ bank to buy rest of ING venture for $1.5 billion

Business Standard

After a year&rsquo;s lull, foreign currency convertible bonds (FCCBs) are regaining currency. In the past four days, four companies have announced plans to raise $702 million (around Rs 3,370 crore) through FCCBs.

FCCBs regain currency; 4 firms raise $702 mn in four days

The low valuation may set a trend, say analysts.

L&T Fin buys DBS Chola MF for Rs 45 crore

ICICI Bank, the country&rsquo;s largest private sector lender, has dropped its plan to raise funds overseas through upper and lower Tier-II bonds under its $5-billion medium-term note (MTN) programme. The bank will instead focus on instruments like senior unsecured notes and hybrid Tier-I notes.

ICICI reworks $5-billion medium-term note plan

The Reserve Bank of India (RBI) is in favour of a consolidated debt limit, similar to that in the equity market, for foreign institutional investors (FIIs). In a suggestion sent to the Securities and Exchange Board of India (Sebi), RBI has stated that the consolidated debt limit should be on a first-cum-first-served basis.

RBI favours consolidated debt limit for FIIs

At present, South Indian banks attract a major part of such money from West Asia.

Banks eye low-cost NRI deposits

Pressed hard for giving access to details of money stashed away by Indians and other overseas clients with them, Swiss banks have offered to tax this wealth on behalf of the respective foreign governments.

Swiss banks offer to tax Indian, other foreign clients

Press Trust of India

The economy might be slowly clawing out of the worst crisis in decades but the US bank failures are climbing by the day, with 95 of them going bust this year alone.

Worst not yet over for US banks, 95 shut this year

With the demand for credit expected to shoot up, private banks are bolstering core capital. Seven of them are in the process of raising a cumulative Rs 10,500 crore in equity to fund expansion, which, in some cases like Axis Bank&rsquo;s, includes entry into mutual fund, private equity and wealth management businesses.

Banks put Rs 10,500 cr in tank for growth journey

Punjab National Bank (PNB), the country&rsquo;s third largest lender, is resurrecting its insurance plans.

PNB revives life insurance plans

As many as 22 large banks in Europe may have accumulated credit losses of close to &curren;400 billion (over $580 billion) for this year and the next year, according to draft conclusions of &lsquo;stress tests&rsquo; conducted by European regulators, a media report has said.

EU banks have credit losses of $580 billion

In the coming week, the rupee may feel pressure and depreciate as month-end demand from oil importers for dollars could limit the upside, Angel Commodities&rsquo; analyst Amar Singh has said in a report.

Rupee likely to depreciate this week

The promoters of Tata AIG Life Insurance are expected to infuse Rs 600-700 crore capital in the venture during the current financial year.

Tata, AIG to infuse Rs 600 cr in life insurance JV

At present, NRI accounts contribute almost Rs 1,350 crore to its consolidated business volume.

Vijaya Bank looking at Rs 5,000 cr from NRI accounts

The Federal Reserve decided to keep pumping $1.25 trillion of new money into the mortgage market to focus on rescuing the US economy as the financial system revives and banks ask for less help.

Fed's strategy reduces US bailout

More than half a dozen PSU banks are expected to get about Rs 10,000 crore as fresh capital by December following the World Bank board's decision to inject funds into these PSBs and enhance their capacity to lend.

Rs 10,000-cr of WB fund to flow into banks by December

In a ruling that would bring cheers to thousands of customers, the National Consumer Commission has ruled that banks cannot unilaterally change its schemes as it might amount to &quot;deficiency of service.

Banks can't change schemes unilaterally: consumer panel

Customers having multiple credit cards will now not be allowed the&nbsp;luxury of using either in case they default on making payments for even one, thanks to&nbsp;stringent measures being adopted by the banks.

Banks to block all credit cards for payment default on one

The Reserve Bank is likely to reverse its soft rate regime by as early as April next year and increase its key policy rates by 125 basis points each by 2010-end due to rising food prices, global financial major Citigroup has said.

RBI likely to start hiking rates by April 2010: Citi

Insurance and agents are two words that seem to be inextricably linked in our minds. If you think of the word insurance, then the word agent will instantly pop up in your brain.

Agents and their relevance to the insurance Industry

Vijaya Bank looking at Rs 5,000 crore from NRI accounts

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