Max New York Life Insurance Company (MNYL) is looking at reaching uninsured population through unorganised Kirana shops. The company is currently implementing a pilot project in Uttar Pradesh and planning to implement across the country next year.

Max NY Life eyes Kirana Stores to reach uninsured

Business Standard

After opening its first overseas branch last month, state-run Oriental Bank of Commerce (OBC) is planning to expand its global footprint further by opening offices in the UK and Hong Kong.

OBC plans to expand reach to UK and Hong Kong

Press Trust of India

At a time when bailed out firms are trying hard to come to terms with government-imposed pay restrictions, Citigroup is seeking US Treasury's permission to shell out special bonuses to several key employees.

Citi seeks US Treasury nod to pay special bonus: report

LIC Housing Finance Limited, a subsidiary of the public sector, Life Insurance Corporation of India (LIC)is targetting to provide Rs 560 crore home loan in the eastern region, consisting of east and north east states, during the current financial year.

LICHFL targets Rs 560 cr housing loan in east in 09-10

ICICI Bank, the country&rsquo;s second-largest lender, is not looking to expand its balance sheet for the second year in a row and intends to reduce the share of unsecured loans.

ICICI won't grow its balance sheet for another year

At least six of the 19 largest US banks require additional capital, according to preliminary results of government stress tests, people briefed on the matter said.

Fed to seek capital for at least six banks

Paving the way for the New Pension Scheme (NPS) from this Friday, the Pension Fund Regulatory and Development Authority (PFRDA) On Wednesday announced investment guidelines for contributory plans.

Investment norms for New Pension Scheme finalised

Reductions in PLR moderate interest income.

Net interest income under pressure in Q4

The rupee advanced for the first time this week, rising 0.9 per cent to 50.095 per dollar, after latest data showed equity purchases by foreign funds rose to the most since August. The currency has advanced 1.3 per cent this month.

Rupee gains most in a week, bonds dip

After getting the go-ahead from the Reserve Bank of India (RBI), IDBI Bank is all set to apply to the Securities and Exchange Board of India (Sebi) for a mutual fund licence.

IDBI Bank gets RBI nod, to seek MF licence from Sebi

The Supreme Court On Wednesday refused to give immediate relief to investment banker Nimesh Kampani, who sought anticipatory bail in the Nagarjuna Finance (NFL) case.

SC gives Kampani no relief

This is irrespective of the new tariff plan submitted by the company to the Central Electricity Regulatory Commission (CERC).

Classify Dabhol exposure as bad debt, RBI tells lenders

A week after the Reserve Bank of India (RBI) cut key policy rates, Citibank today said it will lower its prime lending rate (PLR) by 25 basis points (bps) to 14.75 per cent.

Citi to cut PLR by 25 bps, others yet to follow suit

Though the cost of acquiring new customers is low, net credit losses are high.

NPAs in Indian credit card business grows four times: Study

Let&rsquo;s start by examining the facts disclosed last week in a letter by New York Attorney General Andrew Cuomo, while taking pains to present the actions of each player in this drama in the fairest possible light.

A nation under banks, with justice for none

Even as most companies in India and abroad are busy laying off staff to cut costs and beat recession, Kerala-based Dhanalakshmi Bank is on a hiring spree and plans to recruit 1,300 employees, taking the total employee strength to 2,700 by 2010.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The bank is also planning to raise Rs 400 crore of Tier II capital by June this year, Dhanalakshmi Bank Managing Director and Chief Executive Officer Amitabh Chaturvedi told reporters here last

Dhanalakshmi Bank to hire 1,300 employees

The country's second-largest public sector lender, Punjab National Bank, today slashed benchmark lending rate by 50 basis points to 11%, a move that will benefit millions home, consumer and corporate loan borrowers.

PNB slashes PLR by 50 basis points to 11%

The Asian Development Bank (ADB) board has agreed to triple its capital base to $165 billion&nbsp; To cope with the financial crisis, the bank said today.

ADB triples capital base to $165 billion

Nearly half of credit and debit cards in India were inactive, possibly due to insufficient resources in bank accounts and a holding of more than one card, a study has said.

Half of credit, debit cards in India inactive

Faced with battered fortunes, irate shareholders of Bank of America (BofA) voted to oust the banking major's Chairman Kenneth D Lewis, just hours after the annual meeting yesterday.

Shareholders strip Kenneth Lewis of BofA chairmanship

Kolkata-based United Bank of India (UBI) is expected to transfer Rs 1,156 crore of equity to its reserve account by March 31, 2009 as part of its capital restructuring plan.

United Bank to transfer Rs 1,156 cr by Mar-end

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