SBI plans to roll out 600,000 points of sale

Business Standard

Interest rates are likely to go down or remain stable in the next three-six months, according to OP Bhatt, chairman of State Bank of India, the country&rsquo;s largest lender.

SBI rates to remain stable: Bhatt

The country&rsquo;s largest private lender, ICICI Bank, is aiming to increase revenues from its small and medium enterprise (SME) business segment by 15-20 per cent in the current financial year, according to a senior executive.

ICICI aims for 15-20% growth in SME biz

The US must address the massive amounts of &ldquo;monetary medicine&rdquo; that have been pumped into the financial system and now pose threats to the world&rsquo;s largest economy and its currency, billionaire Warren Buffett said.

Buffett says federal debt poses risks to economy

But the card population witnesses 1.21 million casualties.

Average credit card spend up in June

Aviva Life Insurance is planning to hire 1,500 sales managers and 13,000 sales agents in the next seven months in order to expand and improve their business prospects, according to Managing Director and CEO T R Ramachandran.

Aviva Life to hire 1,500 sales execs in 7 months

The Asian Development Bank (ADB) has approved a $100 million loan to the North Eastern state of Mizoram for undertaking a financial-cum-social sector reform programme named &lsquo;Mizoram Public Resource Management Programme&rsquo; (MPRMP).

Mizoram gets $100 million ADB loan for social sector reform

The Reserve Bank of India (RBI) has sent a note to the government recommending the re-appointment of Shyamala Gopinath as one of the central bank&rsquo;s deputy governors once she completes her five-year term in September.

RBI wants govt to re-appoint Gopinath as deputy governor

The Insurance Regulatory and Development Authority (Irda) has extended the deadline to September 1 for collecting the permanent account number (PAN) from people purchasing insurance policies in which annualised premiums exceed Rs 1 lakh.

Irda extends deadline for collecting PANs by insurers

The robust growth in economy seems to be providing security for overseas Indians to park funds with banks.

NRI deposit flow more than doubles in Q1

The life insurance industry has paid around Rs 1,717 crore as death benefit to policy holders between April and June 2009 compared with Rs 1,422 crore during the corresponding quarter last year (an increase of 20.74 per cent), according to Life Insurance Council, the body governing life insurance companies in India.

Death claims up 21% in April-June quarter

State Bank of India, the country&rsquo;s largest lender, plans to hire 11,000 people in the current financial year as it expands operations.

SBI to hire 11,000 this fiscal

Sudhakar, partner of Trishul Enterprises and director of Seven Hills Properties, and three others had allegedly colluded with the then manager of State Bank of Mysore&rsquo;s Gandhinagar Branch here and secured housing loans in the names of employees of various institutions by producing forged documents. The charge-sheet was filed on August 13 before a CBI court here.

Minister charge-sheeted in bank cheating case

Press Trust of India

The country&rsquo;s largest private sector lender ICICI Bank today said lending rates will start going up any time now, quite contrary to the SBI Chairman&rsquo;s projection that borrowers can breathe easy till Diwali.

Interest rates to go up:  Kochhar

The instruments will be listed on BSE, NSE.

HDFC raises Rs 4.3k cr in warrants, NCDs

First half of the year sees sharp rise in number of defaulters.

Credit worthiness of India Inc still a concern: Crisil

Future Group is planning to invest Rs 100 crore in East India over the next four months, in setting up new stores and in re-doing existing stores to accommodate new formats.

Future Group to invest Rs 100cr in East

The financial meltdown that shook the world was a direct outcome of mismanagement of risk. The risk management was completely ignored by companies&rsquo; boards. Boards did not even constitute risk committees and expected &ldquo;inexperienced&rdquo; audit committees to handle risk, according to president of World Council for Corporate Governance, Madhav Mehra.

'Financial meltdown was an outcome of risk mismanagement'

China plans to tighten capital requirements for banks, threatening to curb the record lending that&rsquo;s fueled a 60 per cent rally in the nation&rsquo;s stock market, three people familiar with the matter said.

China plans rules tightening capital of banks

The yield on government securities (g-secs) shot up across tenures after the Reserve Bank of India (RBI) accepted bids for bonds at higher cut-off levels, increasing the government&rsquo;s borrowing costs.

Government bond yields rise sharply

The country&rsquo;s foreign exchange reserves decreased by $214 million for the week ended August 14, mainly due to revaluation of currencies.

Forex reserves dip $214 million

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

Page 2827 - Finance News