The ICICI Group has prepared a succession plan for top-level executives of its subsidiaries.

ICICI Group prepares succession plan

Business Standard

Private sector lender, ICICI Bank, lost more than Rs 11 crore due to over 8,000 cases of credit card frauds last year.

ICICI Bank faces most credit card fraud cases

Press Trust of India

Falling stock markets and liquidity crunch in 2008 has resulted in a whopping 129 per cent increase in cheque-bouncing cases in Mumbai. Majority of the cases are related to Bollywood, share market participants and loan payment defaults by consumers.

Cheque bouncing cases rise 129%

The Supreme Court has continued its stay on the Debt Recovery Appellate Tribunal&rsquo;s (DRT) order asking banks to release around Rs 13 crore per month to ailing Southern Petrochemicals Industries Corporation (SPIC) to restart plant operations.

SC extends stay on tribunal order in SPIC case

Sliding for the third straight day, the Indian rupee depreciated by another seven paise against the US currency in early trade today on anticipation that the domestic bourses may open weak leading to more capital outflows by funds.

Rupee depreciates 7 paise to 49.77/$

Banks may have to shell out service tax on what they pay an RBI subsidiary, to keep part of their deposits insured.

Banks may be taxed on DICGC insurance premium

Buoyed by significant growth in debt funds, the mutual fund industry's total asset under management in January rose to rose 9.4 per cent, the highest monthly growth in 15 months.

Debt funds drive record growth in MF assets

Reserve Bank of India Governor D Subbarao today said that there was further room to cut interest rates.

RBI hints at further rate cuts

The Reserve Bank of India (RBI) today asked banks to provide additional information to customers on the usage of cards from August 1st this year, in order to enhance security in online credit and debit card transactions.

RBI asks banks to provide more info to card customers

State Bank of India (SBI), India&rsquo;s largest public sector bank, would set up about 100 new branches in Orissa to take its branch network in the state to around 650 by the end of June this year.

SBI to set up 100 new branches in Orissa by June

The attainment of 100 percent financial inclusion of 14 identified districts in the state has missed the dateline. The target to complete the process was October this year.

Financial inclusion of 14 Orissa districts misses dateline

The zero coupon bond or Bhavishya Nirman bond of National Bank for Agriculture and Rural Development (Nabard) has mobilised Rs 3,000 crore in April-January against the targeted Rs 2,600 crore.

Nabard zero coupon bond collects Rs 3,000 cr

A Srei Infrastructure Finance-led consortium has bagged the Rs 6,000 crore Light Rail Transit System (LRT), an air-conditioned elevated mass trasport, connecting Kolkata's southern suburbs with the northern fringes via the central business district.

Srei Infra-led consortium bags Rs 6,000cr Bengal LRT project

State-owned India Infrastructure Finance Company (IIFCL) has registered a 350 per cent rise in net profit for the nine-month period ended December 2008 at Rs 51.25 crore from Rs 11.38 crore last year. During the period, operating profit touched Rs 123.17 crore as against Rs 23.24 crore in the same period last year.

IIFCL&#39;s net profit soars 350% to Rs 51 crore

With the Catholic Syrian Bank (CSB) board scheduled to meet on Friday to discuss the proposal of the merger with Federal Bank, the Catholic Church is also gearing up to agitate against the move.

Church plans to protest Federal Bank-CSB merger

Banks may have to pay tax on premium to insure deposits

Geojit Financial Services on Wednesday launched its property services division. The division would offer investors and builders a platform to buy/sell residential apartments, office and commercial space in various cities of the country. Based in Kochi, the new division will operate in Kerala in the first phase, said CJ George, managing director of the company.

Geojit launches property services division

The National Bank for Agriculture and Rural Development (Nabard) has projected a credit potential of Rs 49,960 crore for farm and non-farm sectors in Andhra Pradesh for the ensuing financial year 2009-10. This is a growth of 17.7 per cent over the current year, said Nabard chairman Umesh Chandra Sarangi.

Nabard projects Rs 49,960 cr credit potential for Andhra

India Inc preferred the debt route in the first three quarters of the financial year 2008-09. According to figures from Prime Database, debt private placements rose 46 per cent, as compared with the corresponding period in FY08. A total of 126 companies raised funds via this route.

Debt private placement rises 46% in first three quarters

Reserve Bank of India Governor D Subbarao today said that there is room to cut interest rates further.

Room for more rate cut: RBI

The one-day strike called by officers and other employees of Reserve Bank of India on Friday may disrupt normal functioning, including its payment and settlement system, the central bank said on Wednesday.

Complete transactions before strike

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