The Indian rupee today ended higher by seven paise to 47.48/49 per $ on expectations of good capital inflow from foreign funds in the equity markets amid weakness of dollar in overseas.

Re ends higher by 7 paise to 47.49 a $

Press Trust of India

Indian banks had good risk-management skills under prudent regulations of the Reserve Bank of India (RBI), felt Steve Lindo, executive director, The Professional Risk Managers' Insternational Association (PRMIA).

RBI norms save banks from financial trouble

Business Standard

Warren Buffett&rsquo;s Berkshire Hathaway Inc doubled its municipal-bond holdings in nine months amid record swings in the value of the securities that the billionaire investor labeled &ldquo;unthinkable.

Berkshire doubled municipal bond stake on 'unthinkable' yields

Eyes Rs 700 cr premium income this fiscal.

Star Health to invest Rs 28 cr

Bharti AXA General Insurance, has received the regulatory approval for its critical illness insurance policy. The company currently offers group and individual health as well as personal accident products under its current health offering to the market.

Bharti AXA GI launches critical illness policy

Spandana Sphoorty Financial Limited, a Hyderabad-based microfinance institution, has raised Rs 80 crore by issuing one-year non-convertible debentures (NCD) redeemable at a premium of 10 per cent.

Spandana raises Rs 80 crore

Long wait for realisation makes lenders averse to security receipt transactions.

Banks prefer cash deals for NPA sale

Forms not available at most institutions that are selling the scheme; officials not aware of procedures.

Sellers have no clue about New Pension Scheme

Issuance of certificates of deposit (Cds) rose slightly today because some banks placed CDs to refinance some of their papers maturing this month, dealers said.

Short-term rates down as MFs step up investment

The country&rsquo;s largest housing finance company, Housing Development Finance Corporation (HDFC), today said it had received approval of its directors to raise up to Rs 4,000 crore through qualified institutional placement (QIP) of secured redeemable non-convertible debentures (NCDs) and warrants.

HDFC to raise Rs 4k-cr debt in QIP

Oriental Bank of Commerce (OBC) plans to raise about Rs 350 crore capital to grow and maintain a comfortable capital adequacy ratio (CAR). The money will be raised through upper Tier-II bonds, or perpetual bonds, during the current fiscal.

OBC plans to mop up Rs 350 crore

The propsed strike on June 12 by public sector bank employees was deferred today after a breakthrough was achieved in the talks between the United Forum of Bank Unions (UFBU) and Indian Banks Association (IBA). The strike was called by UFBU, the umbrella organisation of 9 unions representing bank employees, over the issues of wage revision and pension option.

Bank unions defer June 12 strike

The proposed merger of two Kerala-based private sector banks, Federal Bank and Catholic Syrian Bank (CSB), has gathered pace after the parliamentary elections, though there are some serious roadblocks to be cleared.

Proposed merger of Federal Bank, CSB gathers momentum

With a view to achieve focused growth in Jharkhand and Bihar, the Oriental Bank of Commerce (OBC) will bifurcate the business of these two states from Orissa operations during the current fiscal.

Oriental Bank to separate Bihar, Jharkahand business from Orissa

The Indian rupee today opened strong by 21 paise against the dollar on expectations of good capital inflow from foreign funds in the domestic equity markets amid a weak $ overseas.

Re up by 21 paise to 47.28 a $

The State Bank of India (SBI) today said it is waiting for government signals for the merger of its six associate banks.

SBI waiting for Govt nod for merger of associate banks:Bhatt

Barclays Bank PLC has joined hands with Pratham, a leading NGO in the education space, to launch a unique entrepreneurship programme for the economically disadvantaged youth in Maharashtra.

Barclays joins hands with Pratham to foster entrepreneurship

After merging State Bank of Saurashtra with itself last year, country's largest lender SBI would now take a call on consolidating the remaining six associate banks next month.

SBI to decide on consolidation of associates next month

Private sector lender Yes Bank said it will cut its benchmark lending rate by 50 basis points beginning next month, coinciding with Finance Minister Pranab Mukherjee's initiative to make banks commit on lowering the cost of funds.

Yes Bank to lower interest rate by 50 bps in a month

Financial services behemoth Citigroup has started the conversion of preferred securities worth $58 billion into common shares, a move that will also make the US government the largest stakeholder in the entity.

Citi starts conversion of stocks worth $58 bn

Punjab National Bank (PNB), the country&rsquo;s second largest public sector bank aims to reach out to the customers in rural areas of the country through banking correspondents and also on the back of technology enabled services like biometric smart cards.

Punjab National Bank to leverage technology for business growth

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