Swiss banking major Credit Suisse today reported 29.75 per cent growth in net income at 1.57 billion Swiss francs for the second quarter backed by strong results from its investment banking segment.

Credit Suisse posts 29.75% growth in Q2 net income

Press Trust of India

Public sector lender Union Bank of India plans to raise Rs 1,500 crore during the current fiscal, a top company official said.

Union Bank to raise Rs 1,500 cr this fiscal

Anand Sharma (not his real name) is a practiced hand at online shopping. But even he does not know that from August 1 he will not only require his 16-digit credit card number, card expiry date and 3-digit CVV number (on the back of the card) when he buys something online but will also have to enrol his card with VBV (Verified by Visa) or MSC (Mastercard Secure Code) to complete a transaction.

RBI tightens online card use

Business Standard

Rating outlook on three improved citing likely funding support from the Centre.

Crisil upgrades ratings on eight govt banks

The Comptroller and Auditor General of India (CAGI) has said that lack of co-ordination between the agencies and not fund was holding up the various infrastructure projects in Tamil Nadu.

'Lack of coordination holding up infra projects'

Sequoia Capital, a leading venture capital firm, invested Rs 40 crore in Just Dial, a local telephone and web search company. Sequoia Capital Managing Director Sandeep Singhal will join the board of Just Dial.

Sequoia Capital invests Rs 40 cr in Just Dial

Aided by a robust growth in treasury, foreign exchange income and recoveries, Union Bank of India reported a growth of 93.86 per cent in its first quarter net profit at Rs 442.19 crore.

Union Bank Q1 net soars 94%, Indian Bank posts 52% hike

Birla Sun Life Mutual Fund expects to see a 40 per cent increase in its assets under management (AUM) in the current financial year. In FY09, the company saw a 46 per cent rise in its AUM to Rs 47,096 crore. &ldquo;I am giving a very conservative number right now, but this is what we expect we will achieve this fiscal.

Birla Sun Life MF aims for 40% rise in AUM in FY10

The ability to manage fiscal deficit will be the government&rsquo;s biggest challenge in 2010, according to rating agency Moody&rsquo;s Investors Service.

Managing deficit in '10 biggest hurdle: Moody's

UTI Asset Management Company today said that it has set up a $500 million (around Rs 2,500 crore) infrastructure-focused private equity fund, India Infrastructure Development Fund (IIDF).

$500-mn infra PE fund from UTI

The Indian rupee strengthened by 5 paise at 48.39 in opening trade today as strong rally in the stock markets raised hopes of more capital inflows by foreign funds.

Rupee rises by 5 paise to 48.39/$ in opening trade

ICICI Bank was twice issued letter of warning or advisory note in last two years for violating Reserve Bank of India (RBI) guidelines, Lok Sabha was informed today.

ICICI accused for violating RBI guidelines: Pranab

Despite the global economic slowdown, State Bank of India (Canada), a subsidiary of SBI, saw an overall business growth of 22 per cent in July 2008 to June 2009, although its profit slightly went down, a top bank official said here on Thursday.

SBI Canada's biz grows by 22% in 2008-09

Barclays Bank today became the first international bank to open a branch in Ahmednagar city, Maharashtra.

Barclays Bank opens branch in Ahmednagar

Insurance Regulatory and Development Authority (IRDA) today said it is likely to finalise mergers and acquisitions (M&amp;A) guidelines for the sector in the next few months.

IRDA to finalise M&A guidelines for insurance sector soon

Public sector behemoth State Bank of India (SBI) today slashed its deposit rates across certain maturities above six months by 0.25-0.5 per cent effective from Monday.

SBI trims deposit rates across select maturities

Bank of Baroda (BoB) today said it will raise Rs 3,500 crore by various debt instruments during the current financial year to fund its expansion plan.

BoB to raise Rs 3,500 cr via debt to fund expansion

Banking behemoth Citigroup may name mortgage lender Fannie Mae's Diana Taylor as a director while revamping its board, says a media report.

Citi may name Fannie Mae's Diana Taylor as director: report

India's forex reserves rose by $2.270 billion to $266.187 billion for the week ended July 17 compared to the week-ago period.

Forex reserves up by $2.27 bn to $266.19 bn

Public sector lender Uco Bank has set a target of Rs 2.02 lakh crore business in the current fiscal.

Uco Bank targets Rs 2-lakh cr biz in FY10

UCO Bank aims to double its business in Gujarat over the next two years. The public sector bank is also setting up its corporate business branch in the state.

UCO Bank aims to double business in Gujarat

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