Canara Bank, India's second largest public sector bank, is all set for an aggressive play in the venture capital business. The bank has sought the Securities and Exchange Board of India (Sebi) approva

Canara Bank plans VC fund

Business Standard

Plans mortgage guarantee company with AIG, IFC.
The National Housing Bank (NHB) is drawing a roadmap including prudential norms to buy home loans from banks and housing finance companies (HFC) and se

NHB pushes for securitisation

Despite the slowdown and higher provisioning needs, Uco Bank is targeting 81 per cent growth in bottomline this year to Rs 750 crore, compared to Rs 412.6 crore during 2007-08.
The bank is focusing o

Uco Bank targets 81% profit growth

LIC Housing Finance, the mortgage arm of Life Insurance Corporation of India (LIC), is set to foray into the venture capital arena and intends to start a Rs 500 crore real estate fund by the end of th

LIC Housing to enter venture funding

The country's second largest mortgage player LIC Housing Finance today reported a 124 per cent jump in net profit to Rs 104.66 crore for the quarter ended June this year, compared to 46.69 crore in th

LIC First quarter net up 124%

ING Vysya Bank reported a 60 per cent increase in net profit to Rs 40.63 crore for the first quarter of this financial year compared to the corresponding period last year, driven by strong growth in b

ING Vysya Bank net jumps 60%

Canara Bank, India's second largest public sector bank, today reported a 49 per cent fall in net profit to Rs 122.68 crore for the first quarter of 2008-09 compared to Rs 240.55 crore in the corresponding period last year.

Canara Bank Q1 net dips 49% on provisioning

Public sector lender, IDBI Bank has recorded a 4.33 per cent rise in net profit at Rs 159.76 crore for the quarter ended June 2008, as compared to Rs 153.12 crore for the corresponding period last year.

IDBI Bank net at Rs 159.76 cr

In order to meet the increased credit requirements of the co-operative banks and regional rural banks following the Union government's debt waiver scheme across the country, National Bank for Agriculture and Rural Development (Nabard) has decided to provide them Rs 7,000 crore as&nbsp; liquidity support in FY09.

Nabard to provide more liquidity to co-op banks

The Bank of Rajasthan (BoR) has clocked a marginal increase of 2.49 per cent in its net profit at Rs 30.92-crore in Q1 FY09 as against Rs 30.17-crore in the year-ago period.

BoR clocks net profit of  Rs 30.92 cr

Press Trust of India

The Chandras, the promoters of Unitech, India&#39;s second largest real estate company, are looking to venture into the sunrise general insurance sector.

Unitech promoters eye insurance

Tata Capital and Japan's Mizuho Corporate Bank today formed a strategic alliance for promoting cooperation in a wide range of business areas.

Tata Capital, Mizuho Bank ink pact

American Express, the biggest US credit-card company by purchases, withdrew its 2008 earnings forecast after second-quarter profit fell 37 percent on worse-than-expected consumer defaults.

American Express profits fall on higher defaults

&nbsp;Differential disclosures to make process easier for firms listed on bourses. 
&nbsp;The Securities and Exchange Board of India has decided to have two sets of disclosure norms in the listing agreement of debt securities.

Listing pact for debt securities soon

Leading financial service provider ArthaMoney today announced that it would open new centres across Chennai, Andhra Pradesh, Karnataka, Delhi and Mumbai to provide services in the areas of investments, real estate, insurance and loans.

ArthaMoney to open finance services centres

&nbsp;Dealers expect the currency to go past 41 soon.
&nbsp;Strong foreign exchange inflows pushed the rupee-dollar exchange rate to close at a two-month high of 42.08-09 to a dollar after opening at 42.45 on Wednesday.

Re rises on dollar flows

There was buying in the government securities market due to the victory of the UPA government in the trust vote and a decline in the crude prices to $125 a barrel from high of $147.

Trust vote win, declining oil drive up gilts

The country&#39;s biggest lender, State Bank of India (SBI), is planning to hire 3,000 marketing and recovery officers.

SBI to hire 3,000 recovery officers

Two international banks are close to picking up stake in the Mumbai-based International Asset Reconstruction Company (IARC), promoted by former State Bank of India Chairman M S Verma and former India head of Bank of America Arun Duggal.

2 banks to buy stake in asset recast company

City-based Arthaeon Financial Services (AFS) has launched its first financial supermarket in the country in Chennai through its retail brand, Artha Money, which will offer financial products, services and guidance under one roof.

Arthaeon opens fin supermart

Recent volatility in stock market has made Insurance Regulatory and Development Authority (Irda) to set up a committee to suggest ways to discourage rampant sale of unit-linked products by life insurance companies.

Irda panel seeks to curb Ulip sales

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