The State Bank of India (SBI) is setting up a private equity fund to cater to the small and medium enterprise (SME) sector.

SBI to set up Rs 500 cr PE fund

Business Standard

Around 6,000 employees of Chennai-based Indian Bank has threatened to go on a day-long strike.

Indian Bank employees threaten to go on strike

State Bank of India (SBI) today deferred a decision on raising interest rates and said that it will prefer to wait for one-two weeks before taking a call on the issue.

SBI defers decision on hiking rates

&nbsp;The Rs 72,000-crore loan waiver for farmers "is a disaster. It spoils the credit culture in the country", said Raghuram Rajan, the chairman of the Committee on Financial Sector Reforms.

Raghuram Rajan slams loan waiver decision

State Bank of India (SBI) is setting up a Rs 500-crore private equity (PE) fund to cater to the small and medium enterprise (SME) sector.

Rs 500-cr PE fund in 6 months, says Bhatt

Some major private sector banks, such as Deutsche Bank, Yes Bank, Kotak Mahindra Bank, Standard Chartered Bank, and financial institution Industrial Finance Corporation of India (IFCI) are in the race to buy the Rs 500-crore standard loan assets and investments of the Industrial Investment Bank of India (IIBI).

Private banks queue up to buy IIBI assets

State Bank of India (SBI) today deferred a decision on raising interest rates and said it will prefer to wait for one to two weeks before taking a call on the issue.

SBI defers interest rate hike

Union Finance Minister P Chidambaram today launched "Housing Micro Finance Initiative" for mofussil and rural public under which Self Help Group members could avail housing loan.

FM launches housing micro finance initiatives

Press Trust of India

India should promote Islamic banking as a participative investment option, taking cues from the UK, Rajya Sabha Deputy Chairman K Rahman Khan said today.

Islamic banking should be promoted in India

US Sub-prime turmoil has caused tightening liquidity situations and firmness in pricing preventing banks to soften interest rates, a top banker said.

'Subprime crisis prevents rates from softening'

Public sector banks have started preparing for the implementation of the farm debt waiver scheme in Uttar Pradesh.

Loan waiver in UP starts in full swing

&nbsp;The bank has estimated the value of the controversial products at Rs 14 crore.
&nbsp;Private sector player Yes Bank is facing disputes on derivatives products sold to two clients, with the value of the deals estimated at Rs 14 crore, according to the bank's managing director and chief executive officer Rana Kapoor.

Yes Bank caught in derivatives dispute

Insurance buyers are keeping away from unit-linked insurance plans (Ulips) due to the continous volatility in the stock market.

Life insurance industry sees 7% drop in new sales

In a move that may set the tone for other players, State Bank of India (SBI), the country's largest lender, has decided against raising interest rates for the time being.

SBI decides against raising rates, for now

&nbsp;The anxiety shows on R N Thakur's face. As the branch manager of Union Bank of India's branch in village Kasabe Digraj, 10 km from the district town of Sangli in southern Maharashtra, Thakur has to ensure that the list of farmers eligible for a debt waiver and relief is ready in the next few days.

Union Bank gears up to implement loan waiver

Yes Bank, India's new-age private sector bank, has announced an increase in its prime lending rate&nbsp;(PLR) by 50 basis points (bps) and an increase in fixed deposits interest rates to earn a higher return of 9.50% p a (previously 9%) while senior citizens will earn an attractive return of 10.00% p a (previously 9.5%).

Yes Bank announces an increase in PLR

Directing banking institutions to shed their conservative approach in funding young entrepreneurs, Union finance minister P Chidambaram on Monday hinted at fine-tuning the credit guarantee scheme of the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to increase its coverage.

Banks to open their currency chests

Canara HSBC Oriental Bank of Commerce Life Insurance Company Ltd, a partnership between two nationalised banks -- Canara Bank and Oriental Bank of Commerce and HSBC Insurance (Asia Pacific) Holdings Ltd, the Asian insurance arm of HSBC, today commernced operations.

Canara, HSBC and OBC life insurance co launched

Amidst global financial crisis, Allahabad Bank has decided to go slow on its overseas expansion plan.

Allahabad Bank to go slow on overseas expansion

ICICI Prudential Life has introduced webchat service for its policy-holders that would help them resolve their policy-related queries instantly.

ICICI Prudential Life launches webchat service

In the event of the rising pressure in the net interest margins, United Bank of India (UBI) though, still not considering a hike in the lending rates at the moment, but it might review its decision if there is a further increase in the CRR by the regulator.

UBI not to hike lending rates

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