Besides, special clearing (with return clearing on the same day) shall be conducted in the evening/night of March 30 and 31, with the approval of the president of local clearing houses run by RBI/agency bank.

Extended banking hours on March 30, 31

Business Standard

The government has summoned nine public sector bank chiefs to discuss the liquidity and interest rate scenario and credit flow to seven sectors and for export refinance.

Govt to meet 9 bank chiefs next week

The Union Bank of India has said that its net profit for the fourth quarter will not be as buoyant as the previous three quarters of the current financial year ending March 2009. Its Chairman and Managing Director M V Nair, after launching an advanced call centre today, said that the bank had made 45 per cent net profit for the first three quarters .

Profit growth to fall in Q4: Union Bank

Non-banking finance companies (NBFCs) that do not accept deposits could get some more time to meet higher capital adequacy ratio requirements with the Reserve Bank of India (RBI) considering a proposal to relax the provisions.

NBFCs may get breather on capital adequacy

Certificates of deposit rates rose by 20 basis points today because of continuous supply from banks to meet their deposit targets, dealers said.

CD issuance by banks pushes rates up by 20bps

Expansion of derivative products outside the equity segment is being put on hold for the time being.

Expansion in derivatives products put on hold

HDFC, the country&rsquo;s largest mortgage player, today announced a 50 basis point reduction in its retail prime lending rate to 14 per cent for current and new customers.

HDFC cuts PLR 50 basis points

The Indian rupee depreciated by another 28 paise to 50.98 against the US currency in opening trade today on fears of weak opening on the domestic bourses in line with weak trends on other Asian equity markets amid increased demand for the greenback from importers.

Rupee depreciates further; approaches 51 against $

Press Trust of India

Global banking major HSBC is planning to trim its headcount by about 1,200 people in the UK, says a media report.

HSBC to slash 1,200 UK jobs: report

Public sector banks (PSBs) are making a beeline for the bond market with issuances of Tier-II capital bonds, subordinated debt and perpetual bond to boost capital adequacy levels in anticipation of a strong credit growth.

Govt banks flood market with bond offerings

National Insurance Company (NIC) is eyeing a marginal growth of 7 per cent in premium collection this fiscal, despite the fact that it may fall short of achieving its target of Rs 4,500 crore in premium collection.

NIC eyeing 7% growth in premium

The fall in interest rates is showing its impact on lending and deposit activities of banks.

Deposit base shrinks, credit flow improves

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

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 $

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

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