Gears up to merge State Bank of Indore with itself in the next twelve months.

SBI banks on SBS success for future M&As

Business Standard

Public sector Andhra Bank is looking at a business of Rs 130,000 crore in this fiscal, a senior bank official has said.

Andhra Bank looks at Rs 1.3 lakh cr business in FY10

Press Trust of India

The Economic Survey has favoured a shift to monetary tightening when there is an economic upturn.

Easy money should end on recovery

Bank of Baroda (BoB) would open five new branches in Uganda, Trinidad and Malasiya during 2009-10, a top bank&rsquo;s official said today.

BoB to open 5 more new branches abroad

China, the largest holder of foreign currency reserves, renewed its call for a stable dollar and damped speculation that the nation is seeking talks on a new international currency at next week&rsquo;s Group of Eight (G-8) meeting.

China seeks 'stable' dollar, monetary diversification

Issuances of short-term money market instruments rose today because mutual funds&mdash;the key investors&mdash;stepped up purchases after they witnessed huge inflows into their schemes, dealers said.

Short-term instruments in vogue

Mutual funds purchased short-term money market instruments today on view that rates could fall next week in the wake of persistent ample liquidity in the banking system, dealers said.

MFs park funds in CDs

The Indian rupee today lost 18 paise against the $ in early trade on strong demand for the greenback from importers amid the US currency rising against other currencies.

Re falls 18 paise against $ in early trade

According to an SIB release today,&nbsp; interest on NRE deposits of one year to less than two years and two years to less than three years has been increased to 3.36 per cent from 3.35 per cent and 3.28 per cent from 3.13 per cent respectively.

South Indian Bank hikes NRE, FCNR deposit rates

Union Bank of India has appointed three new directors on its board.

NEWSALERT: Union Bank appoints three directors on its board

Inflationary pressures bottomed out in February, but have been picking up since then on a sequential basis, a HDFC Bank report said here today.

HDFC Bank report warns of inflationary pressures

UCO Bank today said it will tie up with domestic and foreign entities to float a general insurance company, in which the Kolkata-based lender will pick up 30 per cent stake.

UCO Bank to pick 30% in general insurance venture

Public sector Uco Bank would invest Rs 45 crore in its general insurance company, which would be operational by March next year, Chairman and Managing Director SK Goel said on Friday.

Uco Bank&#39;s insurance JV

Owing to revaluation of currencies, India&rsquo;s foreign exchange reserves went up by $932 million to $264.58 billion during the week ended June 26, according to the Reserve Bank of India data. Gold and special drawings rights remained unchanged while the reserve position in the International Monetary Fund went up $8 million to $1.25 billion.

Forex reserve up $932 mn

The July 6 strike called by the All India Bank Employees&rsquo; Association at the five subsidiary banks of State Bank of India has been deferred. The strike was against the move to merge the subsidaries with SBI. The decision came at a meeting in New Delhi in which the representatives of the subsidiary banks agreed to discuss the issue with the unions, according to union sources.

State bank unions defer strike

Bank Unions have deferred their nation-wide strike called to protest the proposed merger of State Bank of Indore with State Bank of India following the advice of the Deputy Chief Labour Commissioner that both the management and unions should discuss and sort issues out.

Bank Unions defer July 6 strike over SBI associate merger

Dewan Housing Finance Company&rsquo;s (DHFL) recently concluded Rs 225-crore qualified institutional placement (QIP) saw South Korea-based Mirae Assets pick up $8.5 million worth of equity, according to investment banking sources.

Mirae biggest buyer in DHFL issue

Kerala-based private sector South Indian Bank is targeting business worth Rs 75,000 crore by 2013, driven by branch expansion and growth in retail business, Managing Director and Chief Executive Officer V A Joseph said in an interview.

SIB targets Rs 75k cr via expansions, retail biz

A US government body created to restore confidence of the public in the country&rsquo;s banking system feels that Indian lender State Bank of India&rsquo;s Chicago unit has to improve to meet the local credit needs. The Federal Deposit Insurance Corporation (FDIC) has concluded that SBI&rsquo;s Chicago branch needs to improve its compliance with Community Reinvestment Act.

SBI Chicago unit should cater more to local credit needs: FDIC

The general insurance joint venture would have an initial capital of Rs 150 crore, said S K Goel, Chairman and Managing Director, UCO Bank.

UCO plans general insurance foray with 30% stake

Chancellor of the Exchequer AlistairDarling said the UK needs a new banking system to stop financial institutions behaving in a &ldquo;kamikaze&rdquo; manner.

Darling says UK needs to change 'Kamikaze' banking system

Finance News: Latest investing news and finance headlines straight from Business Standard.

Page 2820 - Finance News