In a move that will provide some relief to portfolio managers,market regulator SEBI allowed them to keep the funds of all clients in a single bank account.
Swiss private bank Sarasin will open its first offices in India in July,providing financial advisory and consultancy services.
The country's second largest public sector lender Punjab National Bank aims to double its profit.
Despite improvement in growth,probability RBI will hike rates soon was slim,Moody's said.
FM said PSU banks should consider mergers to be more competitive and to reduce risks.
Finance Minister Pranab Mukherjee will meet heads of public sector banks and is expected to impress upon them the need to further moderate interest rates and increase credit flow to industry.
State Bank of India,plans to recruit 13,000 persons at various levels during the current fiscal.
ICICI is looking at expanding fund-generation profile to capitalise on forthcoming opportunities.
Embarking upon this high-tech business model in 2007,Union Bank proposes to step up its syndicated loans to Rs 25,000 cr this year.
Citigroup will not pay its five former top executives millions of dollars in promised severance payouts,says a media report.
Corporation Bank sees scope to cut lending rates by 25 to 50 bps,a top official said on Wednesday.
The US Govt is preparing to steer General Motors into bankruptcy as early as the end of next week.
Four big US banks said they would sell $6.55 bn of common stock and repay bailout funds.
Swiss banking major UBS has posted a first quarter loss of two billion Swiss francs and has warned of economic turmoil negatively.
The bank plans to add 66 new branches all over India this year to total 273 branches.
RBI may cut key rates by a further 25 bps after a new govt assumes power,HSBC said in a note.
Foreign lender Citibank cut its benchmark lending rate by 25 basis points to 14.75 per cent,a week after the RBI reduced short-term policy rates by quarter percentage point.
State-run Punjab National Bank sees a 50-100 basis points cut in lending and deposit rates.
The new norms say if indirect FDI exceeds 50%,investment will be treated as foreign investment.
Rising bad debts,or non-performing loans,will be in focus at Indian banks in the coming quarters.
Indian banks can now issue loan guarantees for more than 10 years,the RBI said in a notification posted on its website.
The Reserve Bank of India may be near the end of a rate-cutting spree,but commercial bank lending rates look set to fall further.
Most US banks have enough capital to keep lending,Treasury Secretary Geithner said.
Stocks of banking firms,including SBI and ICICI,dipped as much as 4% in the morning trade.
The country's largest private-sector banking conglomerate,ICICI Bank,is in for a major top- management shake-up.