The Royal Bank of Scotland (RBS), which operates in India under the ABN Amro brand, said today that it intended to retain a few branches in India and around 8,000 employees after the sale of its retail and SME banking business as part of a strategy to focus on key markets. The unit had contributed around 30 per cent of RBS&rsquo; revenue from India and Asia-Pacific operations.

RBS to retain 8,000 employees in India

Business Standard

By committing to buy Treasuries and double his purchases of mortgage debt, Federal Reserve Chairman Ben S Bernanke signaled his determination to avoid a repeat of the Great Depression and his willingness to pump as much cash into the economy as needed to end the current crisis.

'Rambo Fed' will buy Treasuries to combat crisis

With the inflation measured by the wholesale price index (WPI) ruling close to zero, real interest rates have shot up to around 12 per cent, as against around 4.5 per cent a year ago, prompting bankers to say that there was more room for the Reserve Bank of India to lower rates.

Lower inflation means higher real interest rates

Reserve Bank of India Governor D Subbarao today said that all signs pointed to retail payments being the drivers of the future payment and settlement architecture and the central bank would work to operationalise them within a regulatory framework to reduce risks.

Retail payment risks to be reduced, says Subbarao

In order to stop squandering of client funds, the Securities and Exchange Board of India (Sebi) is planning to issue new norms for client-broker agreement in a month&rsquo;s time.

Sebi to revise client-broker agreement norms

The Indian rupee strengthened by 32 paise to 50.06 against the greenback in early trade today on fresh dollar selling and gradual improvement in capital inflows into equity.

Rupee strengthens by 32 paise to 50.06/$

Press Trust of India

Managing sales and distribution is the biggest challenge for Indian insurers, while globally it is strong investment performance, consultancy firm PricewaterhouseCoopers has said in a latest survey.

Retail sales top concern for Indian insurers: poll

The RBI's credit policy is significant as it comes amid fears of further deterioration in the global economy and its consequent impact on the country.

RBI to announce annual credit policy on April 21

India&rsquo;s foreign exchange reserves rose by $1.43 billion to $248.72 billion for the week ended March 13, 2009, on account of revaluation of international currencies against the US dollar and some investment in securities by foreign institutional investors.

Forex reserves rise by $1.43 billion

Citigroup today said Gary Crittenden will become the chairman of Citi Holdings, while global banking chief Edward Ned Kelly will assume the role of chief financial officer of the troubled financial services giant.

Citigroup appoints Crittenden as Citi Holdings Chairman

The rupee completed the biggest weekly gain since December on speculation that the sliding US bond rates will spur global investors to seek higher-yielding emerging-market assets.

Rupee posts biggest weekly gain since Dec

Treasury 10-year notes headed for the biggest weekly rally since December, after the Federal Reserve&rsquo;s plan to buy as much as $300 billion in government debt led to the largest one-day surge in more than four decades.

Treasury notes poised for best week this year on Fed purchase

The Federal Reserve&rsquo;s effort to unfreeze markets for securities backed by loans kicked off with requests for $4.7 billion of financing, a total that officials hope will surge to as much as $1 trillion after investors resolve contract terms with dealers and other concerns.

Fed gets loan requests for $4.7 billion under TALF

Citigroup Inc's CEO Vikram Pandit has pushed back against efforts in Washington to tax bonuses at financial companies that received federal bailout funds, saying it could result in the loss of valuable employees right when they're most needed.

Citigroup CEO protests efforts to tax bonuses

A US federal appeals court has rejected the plea of Bernard L Madoff, accused of defrauding investors of $65 billion in a Ponzi scheme, for release on bail calling him a flight risk.

Madoff loses bail appeal

The chief executives of the America's three financial majors, including Citigroup, have criticised legislation that would levy 90 per cent tax on bonuses granted to employees, a media report said today.

US Banking chiefs slam bonus tax bill: Report

Citigroup, Bank of America and JPMorgan Chase &amp; Co, recipients of more than $100 billion in US rescue funds, have criticised US Congressional proposals to tax Wall Street bonuses.

Bailout recipients don't want bonuses to be taxed

The dollar dropped the most against the currencies of six major US trading partners since the Plaza Accord almost a quarter-century ago as the Federal Reserve&rsquo;s plan to purchase Treasuries spurred speculation that it&rsquo;s debasing the greenback.

Dollar declines most since 1985

Bank Muscat today said it has sold 81 per cent of its stake in India's second largest private sector lender HDFC Bank and has received around 39 million rials (Rs 507 crore) in pre-tax profits from the sale.

Bank Muscat sells 81% of stake in HDFC Bank

The government-owned IDBI Bank said it is negotiating with other entities to give national carrier Air India a loan of $1-billion to help the airline acquire 12 aircraft mainly for domestic operations.

IDBI Bank to syndicate $1 bn loan to Air India

ICICI Prudential Life Insurance Company, has partnered Hyderabad-based startup TalentSprint to offer a full-time six-month programme for graduates. Graduates can launch their management career in sales and distribution at ICICI Pru after completion of all parameters of the programme.

ICICI  Pru in tie-up with TalentSprint

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