The private equity (PE) arm of Aditya Birla Group plans to raise about $2 billion in PE capital within the next five years. Sources close to the development said that the company would launch at least four PE funds, each of $400-500 million in size, over the next five years to reach the top-five slot in the industry. This, the company said, would make the forthcoming funds larger than its $250-million maiden fund, which the company is currently in the process of raising.

Aditya Birla PE plans to raise $2 bn in five years

Business Standard

The Hindujas-promoted IndusInd Bank is targeting a credit growth of over 20 per cent during the next financial year, but it will stay away from high-risk segments such as personal loans and mortgages.

IndusInd to stay away from high-risk loans

To meet the solvency requirement as per the IRDA norms, improve information technology infrastructure and human resources development, AEGON Religare Life Insurance Company, a joint venture between AEGON and Religare Enterprises Ltd. (REL), will infuse Rs 70 crore additional capital by June this year.

Aegon Religare to infuse Rs 70 crore additional capital by June

In a move that will help improve the financial health of banks, the Reserve Bank of India On Wednesday issued fresh norms for the treatment of provisions for restructured accounts, standard assets, and non-performing assets (NPAs).

RBI's new loan provision norms to help banks improve financials

The Indian rupee appreciated marginally by 10 paise against the US currency in opening trade today on expectations of increased capital inflows by foreign funds as domestic bourses may open higher and dollar's weakness against some currencies.

Rupee recovers, rises 10 paise against $

Press Trust of India

A day after the US President, Barack Obama refuted the idea of a global currency, the White House said dollar would be the reserve currency of the world for long time to come.

Dollar to be the reserve currency for long time: White House

Union Bank of India has raised an additional capital of Rs 140 crore by issue of subordinated perpetual bonds, the bank informed stock exchanges.

Union Bank of India raises Rs 140 cr via bonds

The Insurance Regulatory and Development Authority (Irda) will soon start inspecting life insurers&rsquo; records with regards to group policy operations, since the regulator feels that information given by the insurers is in &ldquo;contradiction&rdquo; with what is conveyed to the market.

Irda to inspect life insurers' books

Inter-change fee remains key to increased ATM deployment.

New ATM regime spells more revenue for big players

ICICI Bank On Thursday said it will take a call on cutting interest rates in a few weeks. &ldquo;ICICI will look into interest rate reduction in a few weeks. Interest rates are coming down, (they) should come down to single digit,&rdquo; ICICI Bank Chief Executive Officer and Managing Director K V Kamath told reporters on the sidelines of a CII function.

ICICI Bank to decide on interest rate cuts in a few weeks

&quot;As the bank is making profit, we have sought the permission from the RBI to declare dividend for 2007-08&quot;, said Deepak Patnaik, president, BUCB h. However, the RBI is yet to give its nod.

BUCB proposes 7% dividend

The Gujarat High Court has criticised the practice of government nominating members of political parties as non-official directors (NoDs) on boards of public sector banks, saying it sends a wrong signal.

Don't nominate politicians on bank boards: HC

Shriram Transport Finance (STFL), the largest asset finance company in the country, expects growth in total disbursement for the current financial year to remain flat at around Rs 11,500 crore. However, the net profit of the company during 2008-09 is expected to be around Rs 580 crore as against the Rs 389 crore reported a year ago.

Shriram Transport to go slow on repossession

The Reserve Bank of India&rsquo;s (RBI) governor said On Thursday that there is a cost to any further fiscal stimulus package as it would put pressure on credit markets. However, RBI Governor Duvvuri Subbarao did not elaborate further on what this additional cost would be.

Further stimulus packages will come at a cost: RBI

The government On Thursday said it would borrow Rs 2,41,000 crore during the first six months of the next financial year, which was two-thirds of its gross market borrowings of Rs 3,62,000 crore. This is two-and-a-half times the borrowings of Rs 96,000 crore during the first half of this financial year.

Govt frontloads borrowings, 10-year yield goes past 7%

Mutual funds sold shorter-tenure papers in the secondary market as most of them faced redemptions from banks today, dealers said. &ldquo;Banks were redeeming money On Thursday as Friday is a holiday and only two days are left for the year-end,&rdquo; said a dealer. Rates also inched up 20 basis points due to redemption pressure.

MFs sell CDs of shorter tenure

United Bank of India (UBI) has restructured 15000 accounts, with outstanding amount of Rs 1,600 crore in the last three-four months.

United Bank restructuring accounts

The rupee strengthened as investors based abroad added to their local equity holdings for the seventh day in a row &ndash; the longest stretch in more than a year.

Re gains for seventh day in a row

State Bank of India (SBI) has identified 133 branches in the Bengal circle, comprising, Sikkim, Andaman and Nibobar islands and West Bengal, for sale of application forms to book the Tata Motors Rs 1 lakh car, the Nano.

133 SBI branches to sell Nano forms in East

All major commodity markets as well as forex and money markets are closed today on account of &quot;Gudi Padwa&quot;.

Forex, money markets closed for Gudi Padwa

Punjab National Bank, the country's second largest state-run lender, today said there is no further scope for the banks to slash their lending rates.

Little scope for banks to slash rates now: PNB

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