The Indian rupee today appreciated by 11 paise against the US currency in early trade on capital inflows by foreign funds on expectation that the domestic markets may open strong, in tandem with other global bourses.

Rupee up 11 paise against $ in early trade

Press Trust of India

Public sector banks have been authorised to give more relief to farmers under the debt relief scheme, provided the lenders do not ask the Government to bear the losses.

RBI allows Banks to give more relief to farmers

The Reserve Bank of India (RBI) today assured that it would maintain ample liquidity in the system.

RBI to maintain ample liquidity : Thorat

Public sector Oriental Bank of Commerce (OBC) plans to open 113 branches across Tier II and Tier III cities in the current fiscal and scale up its total business size to Rs 2,00,000-crore by 2009-10 end.

OBC to open 113 branches; eyes Rs 2 lakh-cr biz in FY10

Public sector lender SBI's associate bank, State Bank of Mysore today slashed its lending rate by 50 basis points to 12.25 per cent.

State Bank of Mysore cuts lending rate by 50 bps

Max India today said its life insurance venture -- Max New York Life Insurance -- would invest Rs 700 crore in this fiscal for expanding business.

Max New York Life to pump in Rs 700 cr in FY10

Swiss banking major UBS is looking to raise 3.8 billion Swiss francs (about $3.5 billion) through issue of fresh shares and has warned of second quarter losses.

UBS warns of Q2 loss; plans to raise $3.5 bn

India's forex reserves rose by $8 million to $263.652 billion for the week ended June 19 as compared to $263.644 billion in the previous week.

India's forex reserves rise $8 mn to $263.6 bn

Karur Vysya Bank (KVB) is planning to raise around Rs 500 crore by way of qualified institutional placement (QIP). The proposed fund raising is to support the bank&rsquo;s target of reaching Rs 50,000 crore total business over the next three years.

KVB to raise Rs 500 cr via QIP

Business Standard

State Bank of India, the country&rsquo;s largest lender, plans to beef up its international business by increasing the share of retail segment in its overseas book.

SBI to ramp up its retail business overseas

The huge difference between consumer price index (CPI) and wholesale price index (WPI) confronts banks while reducing deposit rates, according to Usha Thorat, deputy governor, Reserve Bank of India (RBI).

CPI-WPI gap affects ability to cut deposit rates, says Thorat

With credit off-take at an all-time low, banks are staying invested in liquid mutual fund instruments even as the quarter draws to a close.

Banks park money in MFs on dismal credit off-take

The country&rsquo;s foreign exchange reserves increased by $8 million to $263.65 billion during the week ended June 19, 2009, mainly due to the revaluation of currencies.

Forex reserves up $8 million

Public sector Oriental Bank of Commerce plans to open 113 branches across Tier-II and Tier-III cities in the current financial year and scale up its total business size to Rs 2,00,000-crore by 2009-10 end.

OBC eyes biz of Rs 2 lakh crore

Drops rate to 8%, others may find it hard to match.

SBI stirs auto loan mart

Five US banks with total assets of about $1.04 billion were seized by regulators, pushing this year&rsquo;s tally of failures to 45 as a recession drives up unemployment and home foreclosures.

5 more US banks fail, toll mounts to 45 this year

Like its erstwhile peers ICICI and IDBI, the country&rsquo;s oldest financial institution, IFCI, is keen to enter the banking sector and is waiting for an opportunity to take the plunge. &ldquo;We are obviously well poised (to enter banking sector).

IFCI keen to enter banking

In the wake of the deterioration in the overall economic climate, most public sector banks missed the target on gross non-performing assets during the last financial year.

16 govt banks miss NPA target

The rupee fell by five paise against the US currency in early trade today after increased demand for $ by oil importers.

Re down by 5 paise against $ in early trade

The shareholders of Manipal-headquartered public sector lender, Syndicate Bank, have elected three new directors to the board of the bank as their representatives other than the Central government.

Syndicate Bank gets 3 new directors

The decrease in BPLR will be applicable to all outstanding and fresh credit facilities linked with BPLR, the bank said in a release.

NEWSALERT: Syndicate Bank cuts BPLR by 50 bps

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