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

Business Standard

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

Over 68,000 employees of 86 Regional Rural Banks (RRBs) in India will stage demonstration in front of their respective local head offices on February 28, seeking fulfillment of their four-point charter of demands.

Rural bank staff to go on strike

Primary issuances were down On Thursday because of low demand for short-term papers by mutual funds (MFs) as incremental inflows in their schemes were less, dealers said.

MFs turn cautious, primary issues dip

With the financial year drawing to a close, banks are stepping up raising short-term resources through certificate of deposits (CDs). Three banks &mdash; Axis Bank, Canara Bank and Oriental Bank of Commerce &mdash; plan to raise up to Rs 14,000 crore through CDs.

Canara, Axis, OBC plan to raise up to Rs 14k cr via CDs

The country&rsquo;s largest lender, State Bank of India (SBI), will restructure over 41,000 accounts of small and micro enterprises (SMEs), which have been hit by the economic downturn. In December 2008, the Reserve Bank of India (RBI) had announced a package to support SMEs to deal with funding issues.

SBI to restructure 41,000 SME a/cs

Chancellor of the Exchequer Alistair Darling took a step closer to nationalising UK banks, boosting his control of Royal Bank of Scotland Group and pressing former Chief Executive Fred Goodwin to give up his pension.

Darling inches closer to nationalisation

With the restructuring process in full swing, public sector banks have stepped-up monitoring to keep non-performing assets (NPAs) at desired levels.

Govt banks to keep a hawk&#39;s eye on NPAs

Royal Bank of Scotland Group will put &pound;325 billion ($462 billion) of investments into a state insurance programme and shift toxic assets to a new unit after posting the biggest loss in British history.

RBS takes UK insurance, to split assets after record $462-bn loss

To exit private banking; Indian operations to focus on offshoring.

Loss-hit RBS puts India retail business on sale

Taking a cue from a couple of successful non-convertible debenture (NCD) issues for retail investors, quite a few corporate houses are planning to take this route.

Retail investors warm up to NCDs

Govt to run a deficit of $1.75 tn, equivalent to 12% of GDP.

Obama&#39;s budget proposes $750 bn more for  banks

Andhra Bank is targeting to disburse Rs 170 crore additional car loans during the current financial year. Currently, it is extending car loans worth Rs 250 crore, said executive director Anil Girotra.

Andhra Bank ties up with GM to offer car loans

After the rechristening of Telco to Tata Motors in 2003, one of the auto-maker&rsquo;s earliest decision was to settle its high-cost debts of around Rs 500 crore with the proceeds from foreign currency convertible bonds, or FCCBs. The company had raised $100 million and repaid the debt.

Tata group faces FCCB problems

The Indian rupee today breached its previous all-time low and was quoting at 50.65/67 against the greenback in late morning deals on continued capital outflows and higher month-end dollar demand, besides a strong US dollar in the overseas market.

Update: Rupee at an all-time low of 50.65/67 vs $

Press Trust of India

Ailing banking giant Citigroup and the US government have reached an agreement for the Treasury to increase its stake in the bank and demand a boardroom shakeup, US media reported Thursday.

Citigroup, US Treasury reach deal on govt stake

The Royal Bank of Scotland (RBS) plans to sell its retail and commercial business in India as part of the restructuring exercise, a move that follows the bank recording biggest annual loss of 24 billion pounds.

RBS to exit retail, commercial business in India

Citigroup says it has reached a deal that will give the US government up to a 40 per cent stake in the struggling bank.

Citigroup reaches aid deal with US govt

India&rsquo;s foreign exchange reserve fell by $165 million to $249.52 billion during the week ended February 20, 2009, due to revaluation in foreign currency. According to the Reserve Bank of India (RBI) data, the foreign exchange assets dipped by $156 million to $239.82 billion.

Forex reserves dip $165 mn at $249.52 bn

India&rsquo;s foreign exchange reserve fell by $165 million to $249.52 billion during the week ended February 20, 2009, due to revaluation in foreign currency. According to the Reserve Bank of India (RBI) data, the foreign exchange assets dipped by $156 million to $ 239.82 billion.

Forex reserves dip $165 mn

The rupee on Friday breached the 51-mark against the US dollar and touched a new lifetime low against the greenback.

Re hits new low, closes at 51.16

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