The rupee recorded its biggest weekly advance in 13 years on optimism that the new UPA government with revive disinvestment and attract foreign investment.

Re rises 4.9% this week, highest since Mar&#39; 96

Business Standard

India&rsquo;s foreign exchange reserves declined $1.73 billion to $254.21 billion during the week ended May 15, 2009, mainly due to revaluation of currencies.

Forex kitty shrinks $1.73 bn to $254 bn

Punjab National Bank (PNB) has recorded an impressive growth of 24 per cent in its total business in Kerala during the previous fiscal ending March 31 2009, a top bank official said.

PNB registers impressive growth in Kerala

Press Trust of India

The Gold Deposit Scheme of SBI has attracted 548 kilograms of precious yellow metal deposits in a short span of two months in bank vaults.

SBI attracts deposits of 548 kg gold in two months

The country&rsquo;s largest bank SBI, under its Gold Deposit Scheme, has collected 548 kilograms of the precious metal in two months. The scheme which started on March 16 aims at bringing the gold into mainstream from the houses of people of the country.

SBI&#39;s deposit scheme gets 548 kg gold

Banks negotiating to reclaim stock warrants they granted in return for Troubled Asset Relief Programme (Tarp) money may shortchange taxpayers by almost $10 billion if Treasury Secretary Timothy Geithner's first sale sets the pace, data compiled by Bloomberg show.

Banks may reap &#39;ruthless bargain&#39; from Tarp warrants

Home buyers from low-income group to benefit from deal.

Tata Housing, MHFC tie up to offer home finance

Banks and financial institutions should redraw their credit risk management techniques and put in place an effective mechanism, said Amitabha Guha, State Bank of Hyderabad former managing director and steering committee member of Hyderabad chapter of Professional Risk Managers' International Association (PRMIA).

'Credit management should be effective'

Bank of India (BoI) is looking at acquisition in Kenya to increase its presence in the East African nation. It plans to buy a bank to tap the high-margin business and support the growing Indian investments and trade there.

BoI eyes expansion, to buy bank in Kenya

Private sector Dhanalakshmi Bank plans to float a venture fund with a corpus of Rs 2,000 crore and will set up a wholly-owned subsidiary for the purpose, a top official said.

Dhanalakshmi Bank to float Rs 2,000-crore venture fund

As the recession-hit US economy is groping in the dark over uncertain financial position, India has increased its exposure to American debt securities by over three-fold to $38.2 billion till March compared to the year-ago period.

India's exposure to US debt securities rises 3-fold in a year

The country's second largest PSU lender, Punjab National Bank, today said it is planning to open five overseas offices in the next few months.

PNB to open 5 overseas offices in next few months

Private sector lender Karnataka Bank today said its net profit for the quarter ended March 31, rose by 2.92 per cent to Rs 83.14 crore, over the same period last year.

Karnataka Bank Q4 net up 3% at Rs 83 cr

State-run Punjab National Bank (PNB) today said it will not lower its interest rates, which are already lower than other banks, in the near future.

PNB unlikely to lower interest rates further

State-run Bank of Baroda (BoB) today reduced interest rates on its various maturity deposits by 25-75 basis points.

BoB cuts term deposit rates by up to 75 bps

The Reserve Bank of India (RBI) on Monday instructed state and central co-operative banks to desist from financing the commercial real estate sector, as exposure in this sensitive area would not be in their interest.

Avoid commercial real estate financing: RBI to coop banks

As part of its effort to increase the share of retail advances in its loan book, Hyderabad-based Andhra Bank is planning to almost double its portfolio of loans given against gold as security to Rs 1,500 crore, by scaling up activity in North India and the Mumbai zone.

Andhra Bank bets big on loans against gold

In order to cater to Indian emigrant population, Punjab National Bank (PNB), the country&rsquo;s third largest bank, is planning to open five overseas offices over the next one year. The branches will be at Shanghai, Dubai, Norway, a subsidiary at Vancouver, Canada and a joint venture in Bhutan.

PNB to open five overseas offices

The public sector Andhra Bank targets a business growth of 30 percent in Orissa during the current fiscal.

Andhra Bank targets 30%  growth in state

The Orissa government has revised the interest rate on crop loans provided by the cooperative sector from the existing 5 per cent to 7 per cent. The rates are revised with retrospective effective from April 1 this year, the beginning of the kharif season.

Orissa raises co-op crop loan interest rates to 7%

Fullerton India Credit Company (FICC), the non-banking finance subsidiary of Singapore-based Temaesk, may need additional assistance from its government-owned parent to withstand weak business conditions and risks of high credit losses, a rating agency said here on Monday.

Fullerton may need more Temasek support: Fitch

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Re rises 4.9% this week, highest since Mar' 96