Agencies handling security and investigation have put forward the proposal of bringing private banks under the laws that govern public sector banks, as they (private banks) too deal with public money and no mechanism exists now to make them pay up if they go under.

Apply laws for state-run banks to pvt banks also: Sleuths

Press Trust of India

Tomorrow onwards you need not shell out any extra money to use ATM of any bank, thanks to a directive by the Reserve Bank.

Cash withdrawal from any ATM free from tomorrow

Private sector lender ICICI Bank in association with south-east Asian air-carrier Singapore Airlines today launched the co-branded 'ICICI Bank Singapore Airlines Visa Platinum Card' in the Indian market.

Singapore Airlines, ICICI Bank launch co-branded credit card

Public sector banks, barring the big lenders State Bank of India (SBI), Punjab National Bank (PNB) and a few others, would get capital of Rs 16,000-17,000 crore during 2009-10, for which the government has approached the World Bank.

PSU banks to get up to Rs 17,000 cr capital

Foreign lender, Citibank today cut its mortgage prime rate (MPR) by 0.5 per cent to 13.75 per cent with immediate effect.

Citi slashes mortgage prime rate by 0.5%

The Indian rupee today recovered sharply by 48 paise to close at 50.70/71 against the greenback following firm equity markets amid a weak dollar overseas.

Rupee recovers sharply by 48 paise to 50.70/71 vs dollar

Liquidity injected by the Indian government and the central bank has not reached the cash-starved industry and consumers, posing a key challenge for the policy-makers, Commerce and Industry Minister Kamal Nath said today.

Liquidity injection has failed to reach industry, consumers

Happy days are here again for home buyers as the bank freezes the rate for a year.

SBI goes for the kill, cuts home loan rate to 8%

Business Standard

State Bank of India Chairman Om Prakash Bhatt told Sidhartha that the offer should help boost demand in the two sectors that have suffered the most.

'We will allow people to transfer loans'

Looking to capitalise on its vast network of insurance agents, growing by lakhs every year, country's top life insurer Life Insurance Corporation of India (LIC) expects its asset size to grow by about Rs 6,00,000 crore or 75 per cent in next three years.

LIC eyes Rs 14 lakh cr asset size in three years

External Affairs Minister Pranab Mukherjee, who is handling the finance portfolio, will meet top executives of PSU banks tomorrow to review third quarter performance, loan disbursal and the impact of the stimulus packages announced by the government.

Mukherjee to meet public sector bank CEOs tomorrow

The All India State Bank Officers&rsquo; Federation (AISBOF) has threatened to go on an indefinite strike, ahead of the year-end account closure, if the wage hike proposed by the Indian Banks&rsquo; Association (IBA) at its meeting the bank unions later this month failed to meet expectations.

SBI officers threaten strike

Central Bank of India (CBI) will focus on retail loans in order to improve its credit deposit (CD) ratio, which is about 40 per cent in the east zone, comprising West Bengal, Sikkim and Orissa, at present.

Central Bank of India to push retail loans

Bank of America Corp is deferring payment of 2008 bonuses of $50,000 or more at its capital markets and investment banking units over three years, according to people familiar with the matter.

BofA said to defer some bonuses over three years

The Reserve Bank of India (RBI) has turned down suggestions to relax rules for recognising non-performing assets (NPAs) by doubling the duration to 180 days. RBI feels such a move will affect banks&rsquo; financial health.

RBI turns down plea to relax NPA norms

Chennai-based public sector bank Indian Overseas Bank (IOB) will join hands with Bank of Baroda (BoB)and Andhra Bank to start operations in Malayasia. The new joint venture is expected to commence operations by the end of 2009. The bank has also got the Reserve Bank of India&rsquo;s nod to go ahead with the acquisition of Pune-based Shree Suvarna Sahakari Bank.

IOB in JV with BoB, Andhra Bank to enter Malaysia

The latest move of the country&rsquo;s largest public sector bank, State Bank of India (SBI), to freeze its new home loan rates at 8 per cent for a year is too little, too late and will not have any immediate positive impact on prices of interest rate-sensitive sector stocks, believe market players.

Bank stocks may take a beating on SBI rate cut

Karur-based Lakshmi Vilas Bank is planning to increase its capital to Rs 3,000 crore by 2014-15 from the current Rs 500 crore. This would help the bank achieve its target of Rs 75,000-100,000 crore total business by 2015, said bank&rsquo;s managing director VS Reddy.

LVB to raise capital to Rs 3,000cr

The Indian rupee depreciated by 20 paise against the US currency in early trade today as weak trend in Asian equities raised concerns of capital outflows by funds from the domestic stock markets.

Re falls by 20 paise vs $ in early trade

Chennai-based public sector bank Indian Overseas Bank (IOB) has received approval from the Reserve Bank of India to acquire Pune-based Shree Suvarna Sahakari Bank (SSSB).

IOB gets RBI nod for SSSB takeover

Insurance Development and Regulatory Authority (IRDA) had set up two committees which will work on level of disclosure by insurance companies and on new guidelines for mergers and acquisitions (M&amp;A) in the insurance sector. Both the guidelines are expected to be in place by March next year.

IRDA to come out with new M&A, disclosure norms

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