Admitting to helping Americans taxpayers to hide accounts, the Swiss banking major UBS has agreed to pay $780 million in fines and penalties to the US government.

UBS to pay $780 mn fine to US govt in tax case

Press Trust of India

Issue tied in with review of foreign bank operations in India.

RBI to revive 'holding company' proposal

Business Standard

Weighed down by mounting outstandings and non-performing assets (NPAs), credit card companies are taking strong measures that include slashing new card issuances and credit limits for existing customers.

NPA-wary credit card firms get tough

Moody&rsquo;s Economy.com today said the Reserve Bank of India (RBI) could cut interest rates next week as the high fiscal deficit was limiting the Centre&rsquo;s ability to step up spending and boost economic activity.

RBI may cut rates next week, says Moody&#39;s arm

Indian banks have enough liquidity and the industry is not facing any credit squeeze contrary to the general perception, said the chairman and managing director of Allahabad Bank.

Indian banks have enough liquidity: K R Kamath

Will pay $780 million penalty to the US Justice Department.

Swiss bank UBS to disclose secret account details

President Barack Obama offered $75 billion of relief on Wednesday to homeowners facing foreclosure. He also gave bankers a reprieve.

Obama's $75 bn plan spells relief for bankers

BNP Paribas SA, France&rsquo;s largest bank, said its corporate and investment banking unit had a &ldquo;very good performance&rdquo; in January, after the division led the company to a loss in the fourth quarter.

BNP Paribas had 'very good' Jan

The Indian rupee fell by 19 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 19 paise vs $ in early trade

India&rsquo;s foreign exchange reserve dipped by $1.84 billion to $249.70 billion in the week ended February 13, 2009 mainly on account of the revaluation in the foreign currency assets.

Forex reserves dip by $1.84 bn

The country's largest public sector lender, State Bank of India, today said it will freeze interest rates on new car loans at 10 per cent for a period of one year.

SBI freezes new car loans @10%, agri loans @8%

Decline in stock markets weighed against the Indian rupee which lost 11 paise to close within the vicinity of 50-mark at 49.72/74 today.

Rupee falls by 11 paise to 49.72/74 a dollar

The state owned IDBI Bank plans to add 200 more branches across the country over next 6 to 9 months. This will take the total branches of the bank in the country to more than 700 by November 2008 from 507 at present.

IDBI Bank plans to add 200 more branches in 9 months

Domestic scheduled commercial banks (SCBs) off-balance exposures, comprising guarantees, letters of credit and derivatives contracts rose sharply by 88.4 per cent in 2007-08. The exposure to forward exchange contracts increased by 94.6 per cent, according to a study by Dun &amp; Bradstreet.

Off-balance exposure of banks soars 88.4% in FY08

Banks have refused to finance term loans of Hindustan Oil Exploration Company (HOEC), which it sought for development of its PY-I field in the Cambay basin.

Banks refuse term loan to HOEC

After home loans, State Bank of India (SBI) today announced a limited-period offer to disburse auto loans for which interest rates would be frozen at 10 per cent for a year.

SBI freezes car loan rates for one year

In what could be seen as a sign of revival for the corporate bond market, Tata Capital&rsquo;s public issue of non-convertible debentures (NCDs) has received an oversubscription of about Rs 800 crore till Friday on the back of participation from high networth individuals (HNIs) and institutions. The issue that opened on February 2 closes on Tuesday.

Tata Capital NCD issue receives close to five-time subscription

State Bank of India, the country&rsquo;s largest lender, today slashed the interest rate on loans to farmers against cold storage and warehouse receipts to 8 per cent &ndash; up to 625 basis point reduction over the existing rates.

SBI loans to farmers at 8 per cent

Transactions amounting to almost Rs 50,00,000 crore were stalled by the all-India strike by over 2,500 employees and officers of the Reserve Bank of India (RBI) On Friday, demanding update of the pension scheme.

RBI staff stir hits Rs 50 lakh crore deals

Evidence that credit markets are thawing.

Corporate bond trading highest in two years

Luxury homeowners are falling behind on mortgage payments at the fastest pace in more than 15 years, a sign the US financial crisis that began with the poorest Americans has reached the wealthiest.

Jumbo loan defaults rise at fast pace in US

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

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