The government has reappointed K C Chakrabarty as deputy governor of the Reserve Bank of India (RBI) till June 30, 2014. Chakrabarty (60) &mdash; one of the four deputy governors of the central bank &mdash; was appointed in June 2009 for three years. On the completion of his term on June 14, 2012, the term was extended by three months.

Chakrabarty re-appointed

Business Standard

Reliance Capital Ltd, which concluded a 26-per cent stake sale to Japanese insurer Nippon Life Insurance in its unit Reliance Capital Asset Management (RCAM) on Friday, said it hoped to seal a deal for a stake sale in Reliance General Insurance by the financial year-end.

R General stake sale by March

L&amp;T Finance Holdings, the publicly-held financial services company, is introducing various measures to bolster its housing finance subsidiary. Early this year, L&amp;T had forayed into this segment, acquiring Indo-Pacific Housing Finance, which has a book size of about Rs 250 crore. L&amp;T Finance Holdings now plans to increase the book size to about Rs 5,000 crore over the next few years by broad-basing the target segment. Earlier, the company had focused on the low-income segment.

L&T set to bolster housing finance arm

With an eye on getting business in the festive season, banks have started offering discounts on interest rates and waiving processing fees to attract retail customers.

Banks offer festive bonanza to customers

Federal and state prosecutors are investigating Deutsche Bank and several other global banks over accusations that they funneled billions of dollars through their American branches for Iran, Sudan and other sanctioned nations, according to law enforcement officials with knowledge of the cases.

US probing dealings of Deutsche Bank

Benjamin Lawsky, New York&rsquo;s top state banking regulator, shook up the financial world by squeezing a record settlement out of Standard Chartered over allegations that it laundered money for Iran. Let&rsquo;s get this much straight about him, too: He&rsquo;s no rogue cop. He&rsquo;s a loyal soldier.

StanC fought the Lawsky and the Lawsky won

United Bank of India (UBI) on Saturday said it expected to recover Rs 400-500 crore in cash this financial year, as it gears up to fasten its recovery process.

UBI expects to recover Rs 400-500 cr from defaulters 

Press Trust of India

L&amp;T Finance Holdings, the publicly held financial services company, is rolling out strong measures to bolster its housing finance arm. L&amp;T entered this segment early this year when the company acquired Indo-Pacific Housing Finance, which presently has a book size of around Rs 250 crore. L&amp;T Finance Holdings is also looking to scale the book size to close to Rs 5,000 crore over the next few years by broad basing the target segment from its earlier focus on low-income segment.

L&T set to bolster housing finance subsidiary

Bangalore-based public sector lender Canara Bank is aiming at a growth of 28 per cent in its CASA (current account and savings account) deposits at Rs 1 lakh crore during the current financial year. At the end of June quarter, the bank&rsquo;s CASA deposits to domestic deposits constituted 24.07 per cent at Rs 77,902, a top official of the bank said.

Canara Bank aims at 28% growth in CASA

United Bank of India, a public sector bank concentrated in north and north-east states of India is planning to ramp up its presence in north and south.

United Bank of India to open new branches

After bringing in Nippon Life as a strategic partner in its life insurance and asset management businesses, Reliance Capital is now looking to expand this partnership further and would help the Japanese financial services giant bring part of its $600-billion assets under management to India.

R-Cap to expand Nippon Life partnership

When President Obama announced last month that he was barring a Baghdad bank from any dealings with the American banking system, it was a rare acknowledgment of a delicate problem facing the administration in a country that American troops just left: For months, Iraq has been helping Iran skirt economic sanctions imposed on Tehran because of its nuclear programme.

Iraqis helping Iran to skirt sanctions: US

Concerned over the rising instances of payment defaults, banks have shown willingness to disclose the names of borrowers who have raised money from the public through deposits and securities but failed to pay up.

Banks game for disclosing names of those failing to pay up money raised from public

The Reserve Bank of India (RBI) has come down heavily on India Inc for not prudently using hedging tools available to them. Rather, the hedging instruments are often used to trigger instability in the market.

India Inc using hedging instruments to trigger instability: RBI

The crisis faced by the microfinance sector in Andhra Pradesh (AP) &ldquo;is an eye opener for all the stakeholders,&rdquo; according to SKS Microfinance chief financial officer, S Dilli Raj.

AP crisis an eye opener for all stakeholders: SKS Microfin

The rupee gave up some early gains today but was still 16 paise up at 55.57 against the dollar on selling of the American currency by banks and capital inflows from foreign funds into the equity market.

Rupee up 16 paise at 55.57/dollar

Sharad Sharma has been appointed as the managing director of State Bank of Mysore.

State Bank of Mysore appoints Sharad Sharma as MD

Rupee trading at 55.46/47, after hitting a one week high of 55.4550, tracking gains in global risk assets.

Rupee at one-week high tracking shares rise

Reuters 

DBS Bank India, the domestic arm of the Singapore-based lender, has applied for four new branch licences from the Reserve Bank to expand its presence in the country, a top bank official has said.

DBS applies for four more branch licences

Most of the Reserve Bank of India's external advisors supported Governor Duvvuri Subbarao's decision to keep interest rates steady last month, in stark contrast to their opposition to the bank's surprise sharp cut in rates in April.

RBI advisors backed hold on rates in July

Barclays, which is looking at restructuring its India operations, may hold on to short-term retail loans, as it is not getting the &ldquo;right price&rdquo;. The British lender was now considering retaining retail loans maturing in 12-18 months on its books. It is likely to recover the money on its own, instead of selling the loans at hefty discounts, sources told Business Standard.

Barclays India faces valuation hurdle

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