Former Axis Bank Chairman and CEO PJ Nayak said managements should look at appointing outsiders only when the organisation is weak. &ldquo;If it&rsquo;s strong, look for insiders,&rdquo; he told Business Standard, a day after resigning over differences with the bank&rsquo;s board on choosing his successor.

'One should look for outsiders only when the organisation is weak'

Business Standard

RBI governor says banks should increase funding to productive sectors.

Credit growth at viable rates

Budget housing project in Bangalore may get Rs 200 crore.

HDFC fund eyes investment in Puravankara unit

In order to improve liquidity in trading of government securities, the Reserve Bank of India (RBI) proposes to introduce separate trading of registered interest and principal of securities (Strips) in the current financial year.

Central bank moots Strips to boost g-sec trading

Axis Bank Director AT Pannir Selvam passed away today evening. He had a heart attack at the Mumbai airport while he was proceeding to take a flight to Chennai.

Axis Bank director dead

In order to bring regional rural banks (RRBs) within the internationally accepted Basel-I framework, the Reserve Bank of India (RBI) has announced new norms on the capital to risk-weighted assets ratio (CRAR) for the banks.

RRBs in Basel-I fold with new guidelines

The Reserve Bank of India (RBI) will set up a &ldquo;financial stability unit&rdquo; for drawing upon inter-disciplinary expertise from across various departments for carrying out periodic stress testing and preparing financial stability reports.

RBI to set up financial stability unit

State Bank of Mysore (SBM), an associate of State Bank of India group, On Tuesday reported a 40.6 per cent decline in net profit to Rs 49.84 crore for the fourth quarter ended March 31, 2009, compared to the corresponding quarter last year as the bank had to face a tough situation over high cost deposits and low returns on its advances.

SBM net falls 40.6% in Q4

ICICI Prudential Asset Management Company will groom 10,000 financial advisers in the current fiscal 2010. Last year too, the company had trained 10,000 people as financial advisers to cater to the needs of the growing mutual fund industry.

ICICI Pru to train 10,000 financial advisers

Experts believe that the Reserve Bank of India&rsquo;s decision to increase the limit for premature buy-back of foreign currency convertible bonds (FCCBs), using Indian currency, to $100 million from $50 million earlier would have limited impact.

New FCCB buyback limit to have limited impact

The Indian rupee appreciated by 13 paise to trade at 50.32 against the US currency in early trade today, snapping a four-day weak trend, on hopes of fresh capital inflows by foreign funds, as domestic bourses are likely to open higher keeping in line with firm Asian markets.

Rupee up by 13 paise against $

Press Trust of India

Bharti AXA General Insurance today appointed Amarnath Ananthanarayanan as its CEO, subject to approval from regulator IRDA.

Ananthanarayanan named new CEO of Bharti AXA Gen Insurance

Two of the country&rsquo;s largest private sector banks &mdash; ICICI Bank and HDFC Bank &mdash; today reduced their rates, after the Reserve Bank of India (RBI) surprised the Street with a 25 basis points cut in the repo and reverse repo rates.

RBI surprises market with cut in short-term rates

The company had a net profit of Rs 64.50 crore in the fourth quarter of the last financial year, Yes Bank informed the stock exchanges.

Yes Bank Q4 net up 24% at Rs 80cr; no dividend for FY09

Mahindra &amp; Mahindra Financial Services (MMFSL), the wholly-owned subsidiary of automotive giant Mahindra &amp; Mahindra, reported a 42.95 per cent increase in net profit at Rs 109.95 crore for the quarter ended March 31, 2009, as against Rs 76.91 crore reported in the corresponding period last year.

Mahindra NBFC arm's net rises 43% to Rs 110 crore

The Reserve Bank of India (RBI) has advised banks to submit an annual compliance certificate underlining the risk management practices adopted in overseeing and managing outsourcing arrangement of banking services.

Banks to submit annual report on outsourcing

Manufacturing companies have raised their share in the overall issuances of commercial papers (CPs) as they raised short-term funds through this instrument taking the benefit of the soft interest rate scenario and ample liquidity in the system.

Manufacturing companies increase share in CP market

Debt funds may soon be back in vogue, thanks to yesterday&rsquo;s rate cuts by the Reserve Bank of India (RBI). Experts opined that long-term debt fund returns would become more attractive going forward.

Debt funds may bounce back on RBI's rate cuts

Outsourcing of automated teller machines (ATMs) is on the rise. At least two large banks plan to outsource the installation and management of ATMs as they look to rapidly expand their networks in the current financial year.

More big banks plan to outsource ATM roll-out

Millions of lost jobs mean billions in lost tax revenue for the US government, and billions in additional Treasury debt to fund a federal budget deficit that may soar to more than four times last year&rsquo;s record $454.7 billion.

Soaring US budget deficit will mean billions in bond sales

The volume in the SF market declined by 18 per cent to Rs 52,000 crore in 2008-09 from Rs 63,700 crore a year ago, according to rating agency ICRA.

Structured finance issuances drop 18% in FY09: Icra

Finance News: Latest investing news and finance headlines straight from Business Standard.

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