Life Insurance Corporation (LIC) today said it is in talks with Japan-based Nomura Securities to sell stake in the mutual fund arm of state-run insurer.

LIC in talks with Nomura for stake sale in mutual fund arm

Press Trust of India

Low disbursements have resulted in a fall in the year-on-year bank credit growth to 15.86 per cent, the lowest level in nearly five years.

Bank credit growth lowest in 5 years

Business Standard

Bank employees belonging to nine unions have decided to go ahead with their one-day strike on June 12, after their talks with Indian Banks Association (IBA) failed on Thursday.

Bank staff to go ahead with June 12 strike

The RBI on Thursday asked banks to review their loan policy towards micro, small and medium enterprises (MSMEs), badly hit by the economic slowdown. &ldquo;One has to be sensitive to the sector and put in a revised policy,&rdquo; RBI Deputy Governor Usha Thorat said in her address at a conference here.

Banks should review loan policy towards MSMEs: RBI

Three public sector lenders &mdash; Bank of Baroda (BOB), Indian Overseas Bank (IOB), and Andhra Bank &mdash; today entered into a joint venture agreement for setting up a banking subsidiary, India BIA Bank (Malaysia) Bhd, in Malaysia.

3 Indian banks ink JV for Malaysian arm

Public sector lenders Bank of Baroda (BOB), Indian Overseas Bank (IOB) and Andhra Bank have signed a joint venture agreement for setting up India BIA Bank (Malaysia) Bhd, a banking subsidiary in Malaysia.

India may raise interest rates in Q4, Barclays says

ICICI Bank, the country&rsquo;s second largest lender, today announced a 50 basis point reduction in its benchmark lending rates, while State Bank of India's Chairman O P Bhatt said there was scope to lower lending and deposit rates 25 basis points, though he did not provide not a timeframe.

ICICI Bank cuts lending rates, SBI says scope for 25 bps reduction

Move to help India Inc access funds in the absence of foreign funds.

Govt to put in Rs 16,000 cr in 12 banks

Top executives on the board of the country&rsquo;s largest private sector lender, ICICI Bank, did not receive either performance bonus or stock options during the year ended March 2009, according to the bank&rsquo;s annual report.

No stock options, bonus for ICICI top management in FY09

The Indian rupee strengthened by 14 paise to $47.06 in early trade today. Heavy dollar buying in anticipation of heavy capital inflow by foreign funds as the equity markets may open higher buoyed by the announcement of the Government's 100-day agenda.

Re strengthens by 14 paise against $ in early trade

Foreseeing Indian economy back on a high-growth trajectory in the coming months, ICICI Bank is looking at expanding its fund-generation profile and revenue streams to capitalise on the forthcoming opportunities.

ICICI Bank to diversify funding, revenue streams: Kochhar

The State Bank of India is planning to double its branch network in Singapore during the current fiscal with an objective to increase global balance-sheet size.

SBI to double its branch network in Singapore this fiscal

State Bank of India(SBI) today said its proposed joint venture with Societe Generale for custodial services, likely to be operational by early FY'10, would target to acquire 8-10 per cent market share in three years.

SBI, Societe Generale custodial JV to target 10% share in 3 yrs

Amid demand from the industry to cut costs of borrowing, public sector lender Indian Bank today said a decision to cut both deposit and lending rates would be taken in the next 20 days.

Indian Bank to decide on rate cuts in 20 days: CMD

The public sector Union Bank of India today launched a 'self user creation facility' enabling users of the bank's internet banking services to generate their own password for internet banking.

Union Bank launches new facility for internet banking users

Union Bank of India aims to increase business from alternative channels to 35 per cent by the end of the current financial year from 23 per cent now.

Union Bank eyes 35% from alternative channels

After launching an infrastructure fund in collaboration with Macquaire and IFC, State Bank of India is in the process of setting up 'several' other funds to cash in on the area, which is gaining importance as an alternate asset class.

SBI to launch several private equity funds

ICICI Bank today said it will have a strong showing in car, home and corporate loans business in the current fiscal, but its relatively lower exposure to personal and other small-ticket loans could limit the overall balance-sheet growth to below 20 per cent in the year.

Robust growth in car, home, corporate loans: ICICI Bank

British banking giant Barclays is finanlising a deal to merge its $1-trillion fund management arm BGI with US-based BlackRock, a move that will create one of the world's major financial powerhouses, media report says.

Barclays to merge fund mgmt arm with BlackRock

Bank of America, which has been directed to bolster its capital position following the rigorous tests, has appointed four new directors to its board.

BofA appoints 4 new directors

Wants to wait for amendments to the SBI Act for a follow-on public issue.

Govt against capital infusion in SBI

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

Page 2842 - Finance News