Tata Capital, which recently announced raising at least Rs 500 crore through non-convertible debentures (NCDs), hopes to revive the debt market with the issue. The company&rsquo;s Managing Director &amp; CEO Praveen P Kadle tells Pradeep Gooptu and Namrata Acharya that Tata Capital will come out with a buyback option and also provide loans to retail investors against the NCDs. This apart, the company will focus on mid-size companies, &ldquo;pre-dominantly in the Tata ecosystem&rdquo;, for its $250 million private equity (PE) fund.

'PE fund will focus on Tata ecosystem'

Business Standard

The finance ministry may give relief to banks by lowering service tax on their foreign exchange turnover.

Banks may get service tax breather on forex turnover

Banks can now open and renew diamond dollar accounts (DDA) without the central bank&rsquo;s prior approval, the Reserve Bank of India (RBI) said in a notification.

Banks can open diamond dollar a/cs without nod

Chancellor of the Exchequer Alistair Darling said UK banks are best run privately as he tries to calm speculation the government is about to take a majority state in Lloyds Banking Group Plc.

Banks best run privately: Darling

Banks in four US states with more than $1 billion in assets were closed in a single day, boosting the toll of seized lenders to 13 this year and further draining a deposit insurance fund amid record home foreclosures.

Regulators shut 4 US banks, toll reaches 13

The Indian rupee fell marginally by 5 paise against the US currency in early trade today in line with weak trend in Asian equities raising concerns of capital outflows by funds from the domestic stock markets.

Re sheds 5 paise vs $ in early trade

Press Trust of India

Citi has appointed Johanna Dee Chua as Chief Economist for Asia Pacific, based in Hong Kong. Johanna takes over from Yiping Huang who is leaving Citi for an academic role in Beijing.

Johanna appointed chief economist for Citi Asia Pacific

Indians spend more for overseas education, travel &amp; property.

Outward remittances till Nov exceed FY08 level

The Indian gem and jewellery industry, hit hard by the global economic slowdown, has voiced concern over the increasing the duration of bank credit, interest rate subvention and support at branch level.

Jewellery units complain of absence of bank support

Employees of the six associate banks of the State Bank of India (SBI) would go on a nation-wide strike tomorrow for not getting benefits at par with the SBI staff and their merger with the parent bank.

Strike at SBI associates today

The yields on government bonds moved up sharply today after the government announced a large borrowing programme to fund the 2009-10 expenditure and slippage in the financial health.

Steep rise in bond yields on higher govt borrowing plan

The Supreme Court today allowed debt assignor and assignee banks to represent secured creditors in the meetings of the asset sales committee. This interim arrangement will last until April 14, when the court will decide on the legality of trading in debts by banks.

SC gives conditional nod for bank debt deals

LIC Housing Finance (LICHFL), the country&rsquo;s second-largest housing finance company, is all set to launch its financial services subsidiary, LIC Housing Finance Financial Services, but has deferred its venture capital fund in view of the market conditions.

LIC Housing Finance to float fin services arm

The Indian rupee extended yesterday's weakness and depreciated by another 21 paise against the greenback in early trade today on fears of more capital outflows from the domestic bourses after Asian equity markets retreated.

Re falls by 21 paise to 49.03/$ in early trades

Corporation Bank to raise Rs 700 cr

Clearing operations and other transactions were partially affected in around 5,000 branches of State Bank of India's (SBI) six associate banks today after their employees went on a nationwide strike to press various demands.

SBI associate banks' staff strike affects operations

Banks across the country have lost Rs 6.57 crore to internet frauds in 233 incidents of cyber crime with Tamil Nadu topping the list last fiscal.

Banks lose Rs 6.6 cr to internet frauds

One of the largest private sector lending institutions ICICI Bank lost more than Rs 11 crore due to over 8,000 cases of credit card frauds last year.

ICICI Bank tops list of credit card fraud victims

Citigroup Inc and Bank of America Corp, recipients of $90 billion in bailout funds from American taxpayers, are charging financial companies three times more to sell bonds under a US-backed rescue programme than government-controlled Fannie Mae and Freddie Mac pay to issue notes with similar maturities.

Bailed-out banks charge taxpayers highest fees

Life Insurance Corporation of India (LIC), Visakhapatnam, is expecting to close the current fiscal with over 40 per cent growth in new premium collection, as compared with the last fiscal.

LIC-Vizag eyes 40% growth in premium

Banks in the country have lost Rs 6.57 crore to internet frauds in 233 incidents of cyber crime with Tamil Nadu topping the list in the last fiscal. Banks in Tamil Nadu have lost Rs 2.09 crore in seven cases reported between April and December 2008. Whereas, the lending institutions in Maharashtra, which reported the highest number of 23 incidents, have lost Rs 55.54 lakh to online fraudulent practices, Minister of State for Home Shakeel Ahmad told the Lok Sabha today.

Banks lose nearly Rs 6.6 cr to internet fraud

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

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