The Reserve Bank of India (RBI) has allowed deposit taking non-banking financial companies (NBFCs) to invest a part of their public deposits in fixed deposit schemes of Small Industries Development Bank of India (Sidbi) and National Bank for Agriculture and Rural Development (Nabard).

NBFCs can invest in Sidbi, Nabard FDs

Business Standard

Punjab National Bank (PNB) will raise Rs 500 crore through the issuance of bonds, with February 18 as the proposed date of opening.

Punjab National Bank to raise Rs 500 crore

The Royal Bank of Scotland is likely to unveil&nbsp;a &quot;brutal&quot; cost-cutting exercise that may lead to a further 10,000&nbsp;to 20,000 job cuts as it expects to record losses close to 30&nbsp;billion pounds, a media report says.

RBS to unveil 'brutal' cost-cutting measures: Reports

Press Trust of India

Thirteen American banks have collapsed so far this year -- more than half the number of such failures in 2008 -- as the financial turbulence continues to rattle the world's largest economy.

More than a dozen US banks go belly up in 2009

All banks in Karnataka have taken adequate steps to assist micro, small and medium enterprises in the state worst affected by the global economic downturn, George Joseph, chairman and managing director, Syndicate Bank, said.

Banks step up lending to SME sector

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'

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

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

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