Public sector lender IDBI Bank today said it had collected Rs 1 lakh crore of central tax through its network in the current fiscal.

IDBI Bank collects Rs 1 lakh cr of central tax

Press Trust of India

Come April 1 and cheques and bank drafts will be valid only for 3 months, a development that RBI thinks will help mitigate frauds related to such instruments.

Cheques, drafts to be valid for 3 months from April

Morgan Stanley is interested in buying all of Citigroup Inc&rsquo;s stake in their wealth management joint venture this year, said people familiar with Morgan Stanley management&rsquo;s thinking, in what could be a roughly $10-billion deal.

Morgan Stanley wants to buy out Citi from venture

Reuters 

The Reserve Bank of India (RBI) is expected to finalise a quarterly Housing Startup Index (HSUI) by the end of this year, to track construction in the sector. It is to be patterned on the Index of Industrial Production (IIP), which indicates industry numbers in the gross domestic product.

Housing start-up index on IIP lines soon

Business Standard

The Airports Authority of India (AAI) has asked the finance ministry to be allowed to float Rs 3,000 crore of tax-free infrastructure bonds, a fund-raising window opened in the recent Union Budget.

Airports Authority eyes Rs 3,000-cr infra bond issue

Taking all precautions not to fail in its Rs 30,000-crore disinvestment target for the next financial year, the Cabinet today cleared the winding up of Specified Undertaking of Unit Trust of India (SUUTI) and the transfer of all its assets to a new asset management company (AMC) to carry out a part of the government&rsquo;s sell-off programme.

End of the road for SUUTI, new AMC to hold all assets

JPMorgan Chase &amp; Co is being sued by a trader who says he accepted a contract from the investment bank because a typographical error made him believe he would be paid 10 times what was actually offered.

Trader sues JPMorgan for decimal 'error' in job offer

US President Barack Obama on Friday nominated Jim Yong Kim, a Korean-American and president of Dartmouth College, to become head of the World Bank when Robert Zoellick steps down in June.

Three in the race for World Bank top job

ICICI Bank has been ordered by a consumer forum here to pay over Rs 2.14 lakh to one of its account holders for causing him financial loss by selling his shares pledged with it at lower price without his consent.

ICICI Bank to pay customer for causing loss

A circular on revised interest rate on small savings scheme will be issued by March 28, official sources said, adding that there could be a 0.25 basis points hike in the rates.

Interest rates on small savings may go up by 0.25%

L&amp;T General Insurance is bullish on growth prospects next financial year, with business coming mainly from motor and health insurance segments, a top company official has said.

L&T General Insurance bullish on growth in FY13

Bangalore-based cancer care network HealthCare Global Enterprise Ltd (HCG) is planning to expand its network from the present 26 centres to 40 centres by the year 2014 for an investment of Rs 100 crore. It would raise around Rs 50 crore from private equity while the rest is expected to come from internal accruals, said a senior executive from the company.

Oncology network HCG plans Rs 100 cr expansion by 2014

Yields on the 10-year benchmark government bond are expected to trade range-bound, ahead of the release of the government borrowing calendar this week. The Reserve Bank of India (RBI) will put out the market borrowing plan for the first half of the next financial year in consultation with the government on Tuesday.

Bonds steady ahead of govt borrowing calendar

Near double credit-deposit (CD) ratio, as compared to the Reserve Bank of India&rsquo;s norm of 60 per cent, and the high overdues position in the agriculture sector in Andhra Pradesh have been the major concerns voiced by the bankers at the State-Level Bankers Committee (SLBC) meeting held here on Saturday.

High credit-deposit ratio, agri overdues worry bankers

Faced with huge redemption pressure in the shorter end, the government may go for more longer-tenure bonds to raise funds from the market in the next financial year. This, experts say, will also increase the borrowing cost.

Govt may now opt for bond issuances of longer tenures

State-owned Bank of Maharashtra (BoM) today said its shareholders have approved raising capital up to Rs 995.10 crore through a preferential issue of shares to the government and the Life Insurance Corporation.

BoM gets shareholders nod for Rs 995-cr pref issue

State-owned IDBI Bank today said the government has decided to infuse Rs 810 crore in the bank by way of preferential allotment of shares.

IDBI Bank to get Rs 810 cr capital infusion from govt

The government today raised interest rates on post office-operated small savings like Monthly Income Scheme (MIS) and Public Provident Fund (PPF) by up to 0.5%, making them more attractive to investors.

Interest rates on small savings schemes hiked by up to 0.5%

Liquidity deficit in the banking system was close to Rs 2 lakh crore on Monday &mdash; an all-time high &mdash; with banks lending heavily to meet year-end loan growth targets.

Liquidity deficit at new high

The Reserve Bank of India (RBI) on Monday said it is not logical for banks to charge similar interchange fee on debit cards as levied on credit cards.

Banks should cut transaction charge on debit cards: RBI

The rupee came under further pressure on Monday to hit a two-month low on a spurt in month-end demand from importers &mdash; especially oil companies &mdash; for the greenback besides a dip in stock markets.

Rupee weakens further on FII pullout

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