The industry collected a total premium of Rs 1,31,400 crore till December 31, 2008, as compared to Rs 1,13,000 crore in the year-ago period, the Life Insurance Council said.

Life insurance industry aims 20% growth in FY09

Press Trust of India

In step with global banking trends, the country's second-largest state-owned lender, Punjab National Bank, is expected to rationalise its workforce and reduce its staff strength by 28,000 in the next six years from 58,000 now.

PNB aims at workforce rationalisation

The government and the Reserve Bank of India (RBI) are in discussion on additional borrowing programmes and the two together will ensure that they are managed in an efficient and orderly manner, RBI Governor D Subbarao said here today.

Govt, RBI in talks on more borrowing: Subbarao

Business Standard

US taxpayers are being shortchanged by about $78 billion through the Treasury Department&rsquo;s bank bailout, the panel overseeing the programme said.

TARP shortchanged taxpayers $78 bn, says panel

Non-banking finance companies (NBFCs) may be able to start raising resources against commercial paper and non-convertible debentures from this week on but the funds are not going to come cheap.

NBFCs to pay 14.5% on spl window fund

The Indian rupee firmed up further by another 10 paise to 48.58/59 against the greenback in early trade on the back of rise in equity markets coupled with weakness of dollar against other currencies in global markets.

Rupee up 10 paise vs $ in early trade

State-owned IDBI Bank has given a Rs 300-crore loan to the fraud-hit Satyam Computer.

IDBI gives Satyam Rs 300cr; IHFL decision by Feb-end

Private sector lender Kotak Mahindra Bank today said one of its promoter -- Suresh A Kotak has pledged 50,000 shares representing his entire stake in the company.

Kotak Mahindra Bank promoter pledges 50,000 shares

British financial services major Barclays today posted a marginal decline in net profit at 4.38 billion pounds ($6.5 billion) for the year 2008, as benefits from the acquisition of Lehman Brothers' North American business propped up the bottom line.

Barclays '08 profits dip; no bonus for exec directors

The global financial crisis is forcing the world&rsquo;s central bankers to surrender some of their prized independence. Regaining it won&rsquo;t be easy.

Central banks sacrifice independence as global financial crisis grows

Even as a final decision on the sale of IDBI Home Finance (IHFL) is pending, the mortgage arm of IDBI Bank has sought time until March 31, 2009, from the National Housing Bank (NHB) to comply with the revised risk weight norms.

IDBI Home Finance falls short of prescribed capital adequacy

Tata Capital, a wholly-owned subsidiary of Tata Sons, will continue to hold a conservative view of the real estate sector and not augment the exposure beyond the present level of 2-3 per cent.

Tata Capital not to raise exposure to realty sector

In order to revive the recession-hit auto sector, the Reserve Bank of India (RBI) will soon be issuing a separate guideline, making it easier for banks and non-banking financial institutions (NBFCs) to repossess vehicles from loan defaulters.

RBI may issue fresh norms on repossession of vehicles

Ruling out any relaxation in the norms for non-performing assets, the Reserve Bank of India today asked banks not to use permission for the second restructuring of loans as a chance for window-dressing the accounts.

RBI to banks: Don&#39;t use debt recast for window-dressing

Reaffirms local, foreign currency ratings.

Gross fiscal deficit to touch 9.5%, says Fitch

The six shortlisted pension fund managers would have to manage retirement savings at a fee of 0.09 basis point.

Pension funds to levy 0.09 basis-pt management fee

The Indian Banks Association (IBA) today joined three major private banks in appealing against the Gujarat High Court ruling in the case of assigning of debt.

IBA appeals against HC order on debt

Primary issuances fell today as liquidity with banks continued to remain comfortable and most of them preferred to remain on the sidelines, dealers said. &ldquo;Banks remained on the sidelines as they have ample liquidity with them. We also expect that the rates could fall further and so we are looking to issue papers at lower rates,&rdquo; said a dealer at a state-owned bank.

Primary issues low as banks boast surplus cash

Rupee&rsquo;s movement in the near-term will be governed by stimulus packages and data from the US rather than the Indian unit&rsquo;s fundamentals, ICICI Bank said in a note today.

Rupee guided by US stimulus plan, not fundamentals: ICICI Bank

Most banks turned in good numbers in the December 2008 quarter, with their investment portfolios getting a boost from falling bond yields. Moreover, they had lent fairly large amounts at attractive spreads. As a result, the net interest income for most banks was a minimum of 25 per cent going up to as much as 90 per cent and revenues from fees were fairly robust.

Banks: Bond no more

Finance News: Latest investing news and finance headlines straight from Business Standard.

Page 2909 - Finance News

Life insurance industry aims 20% growth in FY09

PNB aims at workforce rationalisation

Govt, RBI in talks on more borrowing: Subbarao

TARP shortchanged taxpayers $78 bn, says panel

NBFCs to pay 14.5% on spl window fund

Govt, RBI in talks on more borrowing: Subbarao

Rupee up 10 paise vs $ in early trade

IDBI gives Satyam Rs 300cr; IHFL decision by Feb-end

Kotak Mahindra Bank promoter pledges 50,000 shares

Barclays '08 profits dip; no bonus for exec directors

Central banks sacrifice independence as global financial crisis grows

IDBI Home Finance falls short of prescribed capital adequacy

Tata Capital not to raise exposure to realty sector

RBI may issue fresh norms on repossession of vehicles

RBI to banks: Don't use debt recast for window-dressing

Gross fiscal deficit to touch 9.5%, says Fitch

Pension funds to levy 0.09 basis-pt management fee

IBA appeals against HC order on debt

Primary issues low as banks boast surplus cash

Rupee guided by US stimulus plan, not fundamentals: ICICI Bank