The Insurance Regulatory and Development Authority (Irda) is planning to join hands with the Ministry of Consumer Affairs to spread awareness on insurance and has earmarked Rs 20 crore for the campaign.

Irda earmarks Rs 20 crore for awareness drive

Business Standard

The Insurance Regulatory and Development Authority (Irda) is likely to relax the cap on distribution cost of unit-linked insurance plans (Ulips).

Irda likely to relax cap on Ulip charges

State-owned Central Bank of India is planning to restructure its home finance as well as financial and custodial services arms.

Central Bank to recast home finance arm

The yen and the dollar rose as Asian stocks declined and economists said a report will show orders for US durable goods fell last month, curbing demand for higher-yielding assets.

Yen, dollar rise as Asian stocks fall

National Housing Bank (NHB) is scouting for international investors to set up its mortgage guarantee company. The company was envisaged in 2002 to compensate lenders such as banks and housing finance companies in case of defaults by home loan borrowers.

NHB looks at  foreign ally for mortgage company

Axis Bank may come out with a global depositary receipt (GDR) issue in the next two months. But the plan is still at the discussion stage and no details have been finalised, according to sources.

Axis Bank may issue GDRs soon

The Indian rupee today declined by 28 paise to a one-week low against the $ in early trade on month-end dollar demand from importers and firmness in the US currency against major Asian currencies.

Rupee dips by 28 paise in early trade

Press Trust of India

State-run UCO Bank today posted a net profit of 34.03 per cent in the first quarter of 2009-10 touching Rs 178.85 crore as compared to the same period in the last fiscal.

UCO Bank Q1 net rises 34.03 per cent

Sumitomo Trust and Banking Co will acquire Nikko Asset Management, the Japanese asset management arm of Citigroup, for about 112.4 billion yen.

Sumitomo Trust to buy Citi's Japanese asset mgmt arm

The company had a loss of $746 million in the corresponding period a year ago, MasterCard said in a statement today.

MasterCard swings into Q2 profit of $349 mn

The Reserve Bank of India (RBI) plans to launch an outreach programme across the country to evolve a workable model for banking at the village level.

RBI's 'outreach programme' from August

Mulye banks on domestic investors to raise money before approaching international markets.

Right time to start investing: ICICI Venture MD

Public sector Bank of Baroda is planning to foray into private equity (PE), according to sources. Sources told Business Standard that while the state-owned bank was already investing in PE funds, it was simultaneously investing from the proprietary book in equity of unlisted entities that were its customers. This, they said, was essentially in pre-IPO placements. They said the bank was analysing the PE structure for an early foray.

BoB likely to foray into pvt equity space

Large Indian banks and financial institutions such as State Bank of India (SBI), Life Insurance Corporation (LIC), General Insurance Corporation (GIC), Bank of Baroda (BoB) and IDBI Bank have helped Reliance Equity Advisors, which is of the Anil Dhirubhai Ambani Group, mop up around Rs 1,500 crore.

State Bank of India, LIC invest in Reliance Private Equity

External commercial borrowings (ECB) by Indian companies have risen for the first time since September 2008, when the global credit crisis had intensified.

ECB flows up 19% in June

State Bank of India, the country&rsquo;s largest lender, today reported a 68.11 per cent rise in its consolidated net profit to Rs 2,758.53 crore during the first quarter of the current financial year, thanks largely to the performance of its treasury.

Treasury operations push SBI net up 68%

Public sector financial institution Bank of Maharashtra's (BoM) net profit jumped 118.29 per cent to Rs 101.79 crore during the first quarter of the current financial year as against Rs 46.63 crore posted during the corresponding quarter of the previous fiscal.

Bank of Maharashtra net up 118%  y-on-y

West Bengal might just lose the Rs 600 crore Astonfield waste-to-energy project if Kolkata Municipal Corporation fails to handover the 30 acres of land in Dhapa to Astonfield Renewable Resources by October this year.

Astonfield project hits land hurdle

Net&nbsp;interest margins under pressure due to moderate income from advances.

Other income saves the day for banks

The Supreme Court has cleared the way for civil courts to decide the vexed question of derivative instruments on foreign exchange, sold by banks to exporters and others.

Civil courts now try derivatives cases

Public sector Bank of Maharashtra (BoM) announced that its net profit for the first quarter ended June 2009 has more than doubled to Rs 101.79 crore. The lender had posted a profit of Rs 46.63 crore in the corresponding period a year ago.

BoM, UCO Bank & Sundaram Fin Q1 result

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