Japan Bank for International Co-operation (JBIC), a Japanese governmental financial aid institution, will extend credit up to $100 million (about Rs 500 crore) to India&rsquo;s second largest lender, ICICI Bank. The two financial institutions today signed an agreement in Hong Kong for the credit assistance.

JBIC to extend Rs 500-crore loan to ICICI Bank

Business Standard

In a move seen as broadening the field of potential successors to CEO Josef Ackermann, Deutsche Bank AG has appointed four executives, including Anshu Jain, the head of global markets, to its management board.

Anshu Jain on Deutsche board

International Monetary Fund (IMF) On Wednesday said that the Indian banking entities, which grew the asset books rapidly, have become more vulnerable to adverse effects of global financial meltdown and liquidity squeeze.

Banks' vulnerability on the rise: IMF

Public sector Uco Bank on Wednesday launched Retail Loan Shoppe in Lucknow for centralised and time-bound processing of loan proposals. While in-principle approval for an eligible loan application would be given within 3 days, the final sanction would materialise in 10 days, bank director Ram Niwas Jain told mediapersons here.

Uco Bank launches Retail Loan Shoppe

The All India Bank Officers&rsquo; Confederation wants the Regional Rural Banks to be merged with the sponsor banks. The AIBOC also wants the employees of RRBs to be paid on par with their counterparts in sponsor banks on the principle of &lsquo;equal pay for equal work&rsquo; as decreed by Justice Obal Reddy.

Bank officers body demands RRBs merger with sponsor banks

With a view to meet the credit requirement of the Small and Medium Enterprises (SMEs) and enable them to face the adverse impact of economic slowdown, the public sector, Bank of Baroda today opened a &lsquo;SME loan factory&rsquo; in Bhubaneswar.

BoB opens SME loan factory

The Indian rupee soared by 30 paise against the US currency to trade at a three-week high in early trade on dollar selling by banks and expectations of rally on domestic bourses following firm trends in other Asian markets.

Rupee rises by 30 paise against $ to three-week high

Press Trust of India

NCR Corporation, a technology company listed on the New York Stock Exchange, has entered an agreement with Axis Bank to provide 400 new automated teller machines (ATMs) equipped with&nbsp; a surveillance solution that captures the image of the ATM user along with transaction details to prevent fraud.

Axis Bank to deploy 400 fraud-tracking ATMs

Troubled insurance giant American International Group's (AIG) chairman and chief executive has asked its employees to return at least half of the bonuses paid to them recently, after facing sharp criticism from taxpayers and federal officials against the payments.

AIG Chief urges employees to return bonuses

Model code of conduct throws a spanner in the works.

Regulator defers launch of pension scheme

Hit by the downturn, the total business of SBI Factors has shrunk by more than 30 per cent during 2008-09 to around Rs 1,200 crore from Rs 1,840 crore reported last year.

SBI Factors takes a 30% hit due to downturn

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

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/$

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

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