Barclays Capital is upbeat on the structured financial products space in the country which looks set to double to $ 2-billion this year from $ 1-billion last year, a top company official said.

Barclays to up cap allocation, headcount in India

Press Trust of India

&nbsp;Holders of health insurance policies issued from June 1 onwards will benefit.
&nbsp;Buyers of health insurance policies will now get their pre-existing diseases covered from the fourth year of their policy.

Pre-existing diseases to get cover from 4th yr

Business Standard

Punjab National Bank (PNB) has decided to exit Principal Asset Management Company.

PNB to walk out of Principal fund JV

The bond market witnessed thin trading in the morning on prospects of Reserve Bank of India announcement to raise repo rate and Cash Reserve Ratio for containing inflation.

Bond market witnesses thin trading

World's biggest bank Citigroup, led by India-born Vikram Pandit, is in for an aggressive round of layoffs, where it will start today firing about 6,500 employees from its investment banking business, media reports said.

Citi signing off up to 6,500 pink slips: Reports

A spiralling inflation is likely to force the Reserve Bank to up the Cash Reserve Ratio by 0.75 per cent in FY09, along with a one per cent hike in repo and reverse repo rates, Global financial services major StanChart has said.

More CRR, repo, reverse repo hikes likely in FY09

State-run Central Bank of India today posted a net profit of Rs 594.60 crore for the year ended March 31, 2008, a 16.68 per cent increase over the previous year.

Central Bank of India FY08 net up 17% at Rs 595 cr

Financial service provider Cholamandalam DBS and commercial vehicle manufacturer Force Motors today entered into a strategic alliance for financing of commercial vehicles on Pan-India basis.

Cholamandalam DBS inks pact with Force Motors

Reserve Bank of India (RBI) governor Y V Reddy breathed some life into a nervous financial system that was expecting immediate monetary measures from the central bank by saying managing inflation need not mean sacrificing growth.

`RBI`s measures won`t hit growth`

Syndicate Bank is to take a decision soon on PLR and deposit rates following the next RBI action and in line with other major PSU banks, George Joseph, executive director, Syndicate Bank said.

Syndicate Bank to revise rates

&nbsp;Bank awaits RBI move to finalise the extent of increase.
&nbsp;State Bank of India, the country&#39;s largest lender, is likley to raise its prime lending rate (PLR) and is awaiting fresh monetary actions from the Reserve Bank of India (RBI) to finalise the extent of the increase.

SBI gears up to hike PLR

Citigroup is in for an aggressive round of layoffs, where it will start firing about 6,500 employees from its investment banking business, media reports said.

Citigroup to lay off 6,500 staff

The Madras High Court today dismissed all the applications made by the Tuticorin Shareholders Welfare Association, which claimed that the holding of the annual general meeting by the Tamilnad Mercantile Bank (TMB) was in contempt of court.

HC quashes Tuticorin group`s plea in TMB case

The Syndicate Bank's net profit for 2007-08 registered 18.44 per cent when it touched Rs 848 crore, the Bank's Executive Director George Joseph said today.

Syndicate Bank's net profit touches Rs 848 cr

Standard Chartered Bank has invested Rs 100 crore in financial services company Religare Finvest (RFL).

Stanchart invests Rs 100 cr in Religare Finvest

HDFC Bank today said it has alloted nearly seven crore equity shares to the shareholders of Centurion Bank of Punjab, pursuant to the banks' decision to swap shares.

HDFC Bank completes share swap process

New generation private sector lender Yes Bank has become the first bank to be empanelled as advisor by Ministry of Tourism.

Yes Bank empanelled as advisor by Tourism ministry

The Life Insurance Corporation of India (LIC), which had a marketshare was 63.64 per cent till March 31, has chalked up plans to revive some of its popular products to further widen its base in the country.

LIC to relaunch three popular schemes

The already crowded venture capital industry in India got a new member with a team of investors led by Kanwal Rekhi, a Silicon Valley based entrepreneur and mentor, launching a US-India venture fund Inventus Capital Partners on Tuesday.

Inventus raises $125 mn to invest in tech firms

Indusind Bank has posted a 32.47 per cent drop in net profit for the fourth quarter ended March 2008 at Rs 14.45 crore as against Rs 21.4 crore in January-March 2007 period due to higher provision for non performing assets (NPAs) and depreciation against investment portfolio.

Indusind Bank Q4 net down 32.47 %

RBI has hiked the repo rate by 50 basis points to 8.50 per cent with immediate effect.

RBI hikes repo rate by 50 bps

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