With the West Bengal government now looking at putting the issue of conversion of two-stroke autorickshaws plying on the city streets to cleaner fuels on fast gear, the public sector banks led by United Bank of India(UBI) have already sanctioned loans to 200 vechicle owners of the 830 applications received so far.

Banks step up loans to autorickshaw owners for CNG conversion

Business Standard

After remaining weak for two straight sessions, the Indian rupee appreciated by 14 paise against the US currency in early trade today on expectations of firm opening of the domestic bourses on the back of recovery in the Asian equities, raising hopes of fresh capital inflows by foreign funds.

Re up 14 paise vs $ in early trades

Press Trust of India

The rupee continued its downward journey for the third straight session and ended lower by another seven paise to 49.94/95 against the greenback, due to month-end demand for&nbsp;the US currency amid a firm dollar overseas.

Rupee falls 3rd straight session vs $, down 7 paise

Housing Development Finance Corporation (HDFC) today said it has re-appointed Deepak S Parekh as the managing director of the company with effect from March this year.

HDFC re-appoints Deepak Parekh as managing director

A day after announcing Rs 30,000 crore tax relief, Finance Minister Pranab Mukherjee today said he has advised the RBI and banks to take risks and be courageous to further bring down interest rates to stimulate the economy reeling under the global meltdown.

Pranab advises banks to cut interest rates further

Likely to take over as its non-executive chairman.

Parekh may give up HDFC executive role

The Reserve Bank of India has objected to the new foreign investment guidelines for the calculating indirect foreign holding in Indian companies, which are non-transparent and will make monitoring of sectoral caps difficult.

RBI questions transparency of new foreign investment norms

Public-sector lender Uco Bank may face pressure on its fourth-quarter profits on account of possible provisions of Rs 97.42 crore for an exposure to credit-linked notes (CLN).

CLN exposure may cost Uco Rs 97 crore

Straddled with oil bonds worth over Rs 56,000 crore, the cash-crunched public oil marketing companies (OMCs) have made a request to the Reserve Bank of India (RBI) to resume special market operations (SMOs) for oil bonds.

Oil firms request RBI to resume buying of oil bonds

Sensing slowdown in the economies in middle-east region, Bank of Baroda (BoB) has reworked its business strategy in United Arab Emirates (UAE) to focus on trade and short term finance and ensure asset quality.

BoB reworks strategy for UAE

Vijaya Bank expects the rise in government bond yields to hit its treasury income in the March quarter, Chairman and Managing Director Albert Tauro said On Wednesday.

Vijaya Bank's Q4 treasury gains seen hit

Fresh loan disbursals by banks to oil companies resulted in credit flow rising by Rs 10,031 crore during the fortnight-ended February 13. The growth came after two fortnights of decline when overall credit flow fell by around Rs 22,709 crore.

Bank credit up after a month

American International Group Inc lost 85 per cent of market value since Chief Executive Officer Edward Liddy said five months ago &ldquo;the mess we&rsquo;re in is solvable.

AIG scales back plan to sell assets as markets drop

The Reserve Bank of India (RBI) has scope to further cut interest rates in a bid to revive demand, former RBI Governor C Rangarajan said On Wednesday.

RBI has headroom to further cut interest rates: Rangarajan

Federal Reserve Chairman Ben S Bernanke spurned outright federal control of US banks in favour of a public-private partnership that the government would eventually exit.

Bernanke spurns outright control of banks

The implementation of the Reserve Bank of India (RBI) guidelines pertaining to the restructuring of loans advanced to the micro, small and medium enterprises (MSMEs) in the state will be monitored every month.

Restructuring of MSME loan accounts to be monitored monthly

The rupee depreciated futher to 50.18/20 against the greenback in late morning deals today, following weakness in equity markets amid a firm dollar overseas.

UPDATE: Rupee falls further to 50.18/$

Life insurance company Max New York Life Insurance today announced the launch of Electronic Fund Transfer of claims payment for its policyholders.

Max NY Life launches Electronic Fund Transfer

Beleaguered Royal Bank of Scotland, which was rescued by the government, today registered its biggest annual loss of 24 billion pounds in 2008 mainly on account of write-downs related to its acquisition of ABN Amro.

RBS posts biggest annual loss at 24 bn pounds

State Bank of India will restructure over 41,000 accounts of Small and Micro Enterprises (SME) which are hit by economic downturn.

SBI to restructure 41,000 SME accounts

Uco bank On Thursday said that it has fully provided for its exposure to credit-linked notes (CLNs) and its profitability would remain intact for the current financial year.

Provisions already made for exposure to CLNs: Uco Bank

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