Twenty-six years after helping to design the London interbank offered rate, Britain's bank lobbyists are distancing themselves from their creation amid regulatory investigations and lawsuits.

UK bank group backs away from Libor

Business Standard

HSBC Holdings, Europe&rsquo;s largest bank by market value, agreed to sell some of its general insurance units in Asia and Latin America for about $914 million, as it focuses on more profitable businesses.

HSBC to sell insurance units to AXA, QBE for $914 mn

Ahead of credit policy review and budget, Reserve Bank Governor D Subbarao on Wednesday met Finance Minister Pranab Mukherjee and is believed to have discussed the macro-economic situation. The RBI is scheduled to announce the mid-quarterly review of its monetary policy on March 15, a day before the presentation of the Union Budget in Parliament.

Subbarao meets Pranab

Press Trust of India

The Life Insurance Corporation (LIC) of India wants to divest its 18.81 per cent stake in state-owned Mahanagar Telephone Nigam Ltd (MTNL) through private placement of shares.

LIC wants to exit MTNL via pvt placement

A number of preconditions need to be met before statutory liquidity ratio (SLR) can be cut, Duvvuri Subbarao, governor of the Reserve Bank of India, said on Friday.

Preconditions need to be met before SLR cut: RBI

Reuters 

Kochi-based Federal Bank would open 100 branches and 100 ATMs across the country tomorrow as part of an expansion drive.

Federal Bank to open 100 branches in a day

A decision to cut the Cash Reserve Ratio (CRR) by 75 basis points will reduce pressure on liquidity ahead of payment of advances tax by March 15. The short term rates may soften by about 25 basis points next week.

RBI cuts CRR by 75 bps to 4.75%

Riding on its consistent growth, Federal Bank is set to expand its footprint in Gujarat by adding eight branches to its current network of 20. Nationally, the private bank is looking to add 100 branches on a single day on March 10, 2012, across India in order to offer customer centric relationship based banking service using the latest technology enabled products.

Federal Bank to add 8 branches in Gujarat

In a pleasant surprise to the market, the Reserve Bank of India (RBI) on Friday reduced the cash reserve ratio (CRR) &mdash; the portion of deposits banks have to keep with the central bank &mdash; by 75 basis points. This will infuse Rs 48,000-crore liquidity into the system.

RBI moves to ease cash crunch, cuts CRR 75 bps

Federal Bank has set a target  to expand its branch network to 1,000 by the end of June.

Federal Bank eyes 1000 branches by June

Reserve Bank of India (RBI) governor D Subbarao on Friday said the minimum statutory liquidity ratio (SLR) requirement should be reduced, as it led to high government debt holdings by Indian banks.

SLR should be reduced in the long term: Subbarao

India&rsquo;s foreign exchange reserves fell $58.8 million to  $294.98 billion in the week ended March 2, owing to fluctuation in the value of international currencies. While foreign currency assets fell $1.5 billion to $259.59 billion, the value of gold reserves with the central bank rose by $1.4 billion $28.12 billion.

Forex reserves fall to $295 bn

Rating agency Moody&rsquo;s has affirmed Punjab National Bank (PNB)&rsquo;s foreign currency long-term issuer rating &lsquo;Baa2&rsquo;, owing to good recurring earning power, a comfortable capital base and favourable liquidity conditions.

Moody's affirms PNB's foreign currency rating

Industry associations have welcomed the Reserve Bank&rsquo;s cut in banks&rsquo; cash reserve ratio rule, but say they want more.

Industry seeks more cuts in CRR

European Central Bank (ECB) president Mario Draghi signalled he&rsquo;s done enough to battle the sovereign debt crisis, laying the groundwork for an eventual exit from record-low interest rates and emergency lending measures.

Draghi lays groundwork for ECB's stimulus exit

A Delhi consumer forum has imposed a fine of Rs 15,000 on Corporation Bank for misplacing an account payee cheque worth Rs 45,220 of ICICI Bank, which was found to have cleared it as bearer cheque to a wrong person despite several changes made on it.

2 banks pulled up for deficient service

The yield on 10-year government bond is likely to ease by 8 to 10 basis points this week in the wake of 75 bps cut in the Cash Reserve Ratio announced by the Reserve Bank on Friday.

Yield on 10-yr G-Sec likely to ease by 8-10 bps on CRR cut

Despite pressure on margins and concerns over asset quality, the banking sector as a whole will continue to display resilience, says a report by Care Rating based on the performance of 39 banks during the first nine months of this fiscal.

Banks resilient despite rising NPAs: Care

Terming the RBI action to infuse liqidity &quot;appropriate&quot;, Prime Minister's economic advisory panel chief C Rangarajan today said policy rate cuts by the central bank would depend on inflation movement.

RBI policy rate cuts to depend on inflation scene: Rangarajan

Terming human capital deficit as a major challenge to public sector banks, Finance Minister Pranab Mukherjee today asked them to improve customer service to stay relevant in the competitive financial market.

Good customer service is key to banks growth, stability: FM

The country's largest lender State Bank of India (SBI) today said it would explore the possibility of raising capital through a public offer or from institutional investors next fiscal even as it is getting Rs 7,900 crore support from the government by end of this month.

SBI to consider fund raising through FPO, QIP next fiscal

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