Banks to participate in general strike
Hyderabad, Feb 7 : About five lakh bank employees across the country will take part in the general strike, under the banner of All India Bank Employees Association (AIBEA),on February 28. Read Full Story

AIBEA demands Dhanalaxmi bank to merge with Public Sector Banks
Hyderabad, Feb 7 : The All India Bank Employees Association (AIBEA) today demanded the Reserve Bank of India (RBI) and the UPA government to take steps immediately to merge Dhanalaxmi Bank with one of the Public Sector Banks in the interest of the customers and employees and officers of the Bank. Read Full Story

Financial Planning Services launches 3 new products
Mumbai, Feb 07: ICICI Securities, one of the largest integrated securities firms in India, today launched three new products namely Financial Planning, Portfolio Evaluation Services and Estate Planning Services to be offered across India. Read Full Story

Mahesh Bank to open branches outside AP shortly
Hyderabad, Feb 6 : The A P Mahesh Cooperative Urban Bank Limited, a leading Multi-state Scheduled Bank, is planning to open branches in Gujarat, Maharashtra and Rajasthan shortly. Read Full Story

RBI to issue new Five rupee coin
Thiruvananthapuram, Feb 3 : The Reserve Bank of India (RBI)will shortly issue a new Five rupee coin to mark the centenary year of Indian Council of Medical Research (ICMR). Read Full Story

IDBI Bank launches India's Ist online retail G-Sec Portal
New Delhi, Feb 3 : State-owned IDBI Bank today announced the launch of country's first online retail Government Securities (G-Sec) Portal-- IDBI Samriddhi G-Sec Portal. Read Full Story

JK Cement announces buy back shares
Mumbai, Feb 3 : JK Lakshmi cement today announced a buy back of its equity shares from the existing shareholders. Read Full Story

Laxmi Vilas Bank net up by 10.35 pc
Mumbai, Feb 3 : Private sector lender, Lakshmi Vilas Bank said its net profit was up by 10.35 per cent to Rs 28.35 crore for the quarter ended December 31, 2011, as compared to Rs 25.69 crore for the quarter ended December 31, 2010. Read Full Story

2G licence cancellation to affect banks
New Delhi, Feb 2 : Major lenders including State Bank of India and Punjab National Bank have lent money to most of the telecom firms whose 2G licences will be cancelled following the Supreme Court's Thursday verdict. Read Full Story

Nagaland takes advantages of banking system- Kumar
Kohima, Feb 1 : Managing Director and Group Executive, National Banking Group, SBI, Corporate Centre, Mumbai, A Krishna Kumar today said the demand of banking activities was increasing in Nagaland. Read Full Story

UCO Bank's Q3 net jumps 10 percent
Kolkata, Feb 1 : Public sector UCO Bank Wednesday reported a 10 percent jump in its net profit for the quarter ended December 2011 at Rs.3.33 billion from Rs.3.01 billion during the like period of 2010. Read Full Story

Banking committee meeting discusses relief measures
Puducherry, Jan 31 : A special state level Banking Committee(SLBC) meeting of the Union Territory of Puducherry here today discussed the relief measures to be extended to 'Thane' cyclone affected families here. Read Full Story

United Bank of India's Q3 net up by 38.5 percent
Kolkata, Jan 31 : Public sector lender United Bank of India Tuesday reported a 38.5 percent jump in its net profit in the quarter ended Dec 31, 2011 to Rs.2.26 billion from Rs.1.63 billion during the corresponding period last fiscal. Read Full Story

City Union Bank to come out with rights issue
Chennai, Jan 31 : Private sector City Union Bank has initiated the process of coming out with a rights issue in six months' time to beef up its net worth, said a top bank official. Read Full Story

Punjab National Bank quarterly net profit rises 5.5 percent
Mumbai, Jan 31 : State-owned Punjab National Bank Tuesday reported a 5.5 percent increase in net profit at Rs.1,150 crore for the quarter ended Dec 31 as against Rs.1,089.77 crore during the like period of the previous financial year. Read Full Story

ICICI's third quarter net profit up 20.25 percent
Mumbai, Jan 31 : India's largest private lender ICICI Bank Tuesday reported a 20.2 percent rise in net profit for the quarter ending December at Rs.1,728.1 crore from Rs.1,437.02 crore in the like period 2010-11. Read Full Story

RBI for more open market operations
Chennai, Jan 30 : India's central bank is open to more open market operations to address the issue of liquidity, said a senior official Monday. Read Full Story

Allahabad Bank's Q3 net up by 34 percent
Kolkata, Jan 30 : Public sector lender Allahabad Bank Monday reported a net profit of Rs.5.60 billion for the quarter ending Dec 31, 2011 against Rs.4.2 billion for the corresponding period of the previous fiscal, registering a hike of over 34 percent. Read Full Story

SBT launches Green Channel Counter
Thiruvananthapuram, Jan 28 : In yet another value-added service to its customers, the State Bank of Travancore (SBT) today launched a Green Channel Counter (GCC), an innovative step towards eco-friendly, paperless banking, to make Kerala more greener. Read Full Story

Banks to be held responsible for fake notes in ATMs
Chennai, Jan 27 : Banks are responsible for any fake notes dispensed by their automatic teller machines (ATMs) and should compensate customers for the loss when fraudsters withdraw money from their accounts using stolen data. Read Full Story

RBI to act against banks not beefing up cyber security
Chennai, Jan 27 : The Reserve Bank of India (RBI) will act against banks that do not implement its guidelines on electronic security of their transactions and operations by October 2012, a senior official said Friday. Read Full Story

Bank of India quarterly net profit rises 10 percent
Mumbai, Jan 27 : State-owned Bank of India Friday reported an increase of 10 percent in its net profit at Rs.716 crore for the quarter ended Dec 31 against Rs.653 crore during the like period of the previous financial year. Read Full Story

Bankers to discuss cyber security
Chennai, Jan 26 : Bankers and cyber experts will meet here Friday to discuss securing electronic banking transactions and improving customer convenience, an official said. Read Full Story

RBI adopted a dovish policy: HDFC Bank official
Chennai, Jan 24: The 50 basis points cut in the cash reserve ratio (CRR) by the Reserve Bank of India (RBI) Tuesday in its third quarter review of monetary policy shows it has adopted a "dovish policy" than what was anticipated, said a senior official of HDFC Bank Ltd. Read Full Story

India's central bank infuses more money into system
Mumbai, Jan 24 : After keeping money supply under a tight leash for nearly two years to tame galloping inflation, India's central bank Tuesday took steps to infuse more liquidity into the system by reducing a key rate that would help the industry get out of the current downturn. Read Full Story

India's central bank infuses more money in system
New Delhi, Jan 24 : After nearly two years of tight check on money supply to tame inflation, India's central bank took steps Wednesday to infuse more liquidity in the system by reducing a key rate in a bid to help industry out of the current downturn. Read Full Story

Pranab inaugurates PNB's 250th Bengal branch
Kolkata, Jan 23 : Union Finance Minister Pranab Mukherjee on Sunday inaugurated Punjab National Bank's (PNB) 250th branch in West Bengal at Andal in Burdwan District, as the bank observed their 100 years of service in East India on Sunday. Read Full Story

RBI should cut rates to boost growth: Sharma
New Delhi, Jan 23: The Reserve Bank of India (RBI) should cut interest rates at its policy review Tuesday to boost industrial growth and investment as inflation had declined, Commerce and Industry Minister Anand Sharma said Monday. Read Full Story

Dena Bank inks MOU with Bajaj Auto
New Delhi, Jan 21 : State-owned lender Dena Bank today said it has signed an MOU with Bajaj Auto Ltd for financing three wheelers manufactured by the auto firm. Read Full Story

Bank of Maharashtra registers 50 per cent increase in net profit
Mumbai, Jan 20 : State-owned Bank of Maharashtra has registered a 50 per cent increase in net profit at Rs 135.54 crore for the third quarter ended December 2011. Read Full Story

Axis Bank net up by 23 pc
Mumbai, Jan 20: Private sector lender, Axis Bank has posted a net profit of Rs 1102.27 crore for the quarter ended December 31, 2011, as compared to Rs 891.36 crore for the quarter ended December 31, 2010, with a robust growth of 23 per cent. Read Full Story

Banks pitch for tax free infra bonds
New Delhi, Jan 19 : Commercial banks should be made eligible to issue tax free infrastructure bonds, top executives urged Finance Minister Pranab Mukherjee Thursday, saying this would help mobilise greater resources for infrastructure development in the country. Read Full Story

HDFC Bank third quarter net profit up 31.2 percent
New Delhi, Jan 19 : India's second largest private lender, HDFC Bank, Thursday reported a 31.2 percent increase in its net profit at Rs.1,429 crore for the quarter ended Dec 31 on higher interest income and stable asset quality from Rs.1,090 crore in the like period of last fiscal. Read Full Story

Bank union threatens one-day strike in March
Kolkata, Jan 18: A bank employees union threatened to stage a one-day strike in public sector banks in March across the country if the central government does not accept its demands, including "adequate manpower" and "defined working hours". Read Full Story

Federal Bank hikes interest rates on NRE term deposits
New Delhi, Jan 10 : Private sector lender Federal Bank today announced a hike in interest rates on Non Resident External (NRE) term deposits. Read Full Story

Dhanlaxmi Bank forays into silver retailing business
New Delhi, Jan 9 : Private sector lender Dhanlaxmi Bank today announced its foray into silver retailing business with the launch of 'Dhan' silver bars. Read Full Story

Dhanlaxmi Bank forays into silver retailing business
Mumbai, Jan 9 : A private sector lender, Dhanlaxmi Bank today entered the Silver retailing business with the launch of 'Dhan' silver bars. Read Full Story

Dena Bank complies with Sebi guidelines for ABSA
Mumbai, Jan 7 : Dena Bank has complied with SEBI guidelines for enlisting as Self Certified Syndicate Bank (SCSB) for accepting Application Supported by Blocked Amount (ASBA) forms for various IPOs and Rights Issue. The Bank shall be accepting ASBA forms from January 15 onwards. Read Full Story

RBI cautions investors against illegal finance companies
Bagmara (Tripura), Jan 7 : The Reserve Bank of India (RBI) Saturday asked people not to deposit their hard earned money in unauthorised non-banking financial companies (NBFCs) and institutions in the hope of getting hefty returns. Read Full Story

IDBI Bank and CARE sign MoU for funding of MSME sector
New Delhi, Jan 6 : IDBI Bank Ltd has entered into a Memorandum of Understanding (MoU) with Credit Analysis and Research Limited (CARE) for utilising CARE's ratings for evaluating its existing as well as potential Micro, Small and Medium Enterprises (MSME) clients. Read Full Story

SIDBI-IOB sign MoU to provide growth capital to MSME customers
Chennai, Jan 6 : SIDBI, an apex financial institution and Indian Overseas Bank, a leading public sector bank of the country, today entered into an MoU to provide growth capital and equity to their customers in the Micro, Small and Medium Enterprises (MSME) segment. Read Full Story

Banks must need credit needs of society: RBI Dy Gov
Chennai, Jan 6 : Observing that transition from Basel-II to Basel-III should not be a problem for banks, RBI Deputy Governor Dr K C Chakraborty today said banks should meet the credit needs of the society. Read Full Story

Pranab asks banks to take belt tightening measures
Chennai, Jan 6 : Finance Minister Pranab Mukherjee Friday asked Indian banks to scale down their advances to risky businesses to protect their asset quality. Read Full Story

IndusInd Bank partners with Malaysian Airlines
Mumbai, Jan 5 : IndusInd Bank today announced that it has entered into an exclusive partnership with Malaysian Airlines that will offer business class companion free travel for the bank's Platinum and Signature credit card holders. Read Full Story

UCO to recruit 2500 this fiscal
Kolkata, Jan 5 : Kolkata-based UCO Bank will recruit 2500 employees by this fiscal. Read Full Story

India to become largest beneficiary of US Exim business
Bangalore, Jan 5 : The US Exim Bank, which has identified India as one of the target countries, expected the country to be its largest customer within the next 18 months. Read Full Story

Union Bank launches e-Focal Point Branch in Delhi
New Delhi, Jan 5 : Union Bank of India announced launching of its e-Focal Point Branch here for handling government business. Read Full Story

UCO Bank to open NPA auction next week
Kolkata, Jan 5 : Public sector lender UCO Bank Thursday said it will open the auction for sale of Rs.3 to 4 billion non-performing assets (NPA) next week. Read Full Story

UCO Bank will recruit 2500 employees by Mar 12
Kolkata, Jan 5 : Kolkata-headquartered UCO Bank will recruit 2500 employees by the end of March 2012, a top official of the bank said. Read Full Story

US Exim Bank considering USD 2bn proposals from Indian corporates
Chennai, Jan 4 : The US Export Import Bank has funding proposals of USD 2 billion from Indian companies and is willing to extend education loans to Indian students to pursue higher studies in the US, a top official said. Read Full Story

Dhanlaxmi Bank hikes interest rates on NRE term deposits
Mumbai, Jan 4 : Dhanlaxmi Bank, one of India's fastest growing mid-size private sector banks, today announced an upward revision of interest rates on Non-Resident External (NRE) rupee term deposits across various maturities, effective from January four. Read Full Story

ING Vysya Bank hikes interest rates on NRE term deposits
New Delhi, Jan 4 : Private sector lender ING Vysya Bank today said it has hiked the interest rates on Non-Resident External (NRE) Rupee term deposits across various maturities with effect from December 31, 2011. Read Full Story

Banks need equity capital of Rs.2.7 trillion for expansion
New Delhi, Jan 3: Indian banks will be required to raise equity capital of around Rs.2.7 trillion by 2017 to fund their expansion while complying with the new banking guidelines, ratings firm CRISIL said Tuesday. Read Full Story

Dhanlaxmi Bank hikes interest rates on NRE term deposits
New Delhi, Jan 3 : Kerala-based private sector lender Dhanlaxmi Bank today said it has hiked the interest rates on Non-Resident External (NRE) Rupee term deposits across various maturities with immediate effect. Read Full Story

Canara Bank revises interst on FCNR deposits
Bangalore, Jan 2: Public sector lender Canara Bank has revised the rate of interest on FCNR [B] deposits, in US dollar, England Pound, Euro, Canadian dollar and Australian dollar with effect from January one on varying maturities from one year to 5 years. Read Full Story

Vijaya Bannk hikes interest rate on NRE deposits
Bangalore, Jan 2: Public sector Vijaya Bank has revised interest rates on its Non-resident external (NRE) deposits with effect from January 1, 2012. Read Full Story

DCB Bank ups NRE term deposit rates to 10 per cent
New Delhi, Dec 31 : Development Credit Bank Ltd (DCB Bank) has announced that it has increased interest rates on non-resident external (NRE) deposits to 10 per cent for an 18-month tenor on deposits of Rs 15- 50 lakh, making it the highest offering. Read Full Story

Tamilnad Mercantile Bank ties up with Ashok Leyland
Tuticorin, Dec 30 : Private sector lender Tamilnad Mercantile Bank Ltd has entered into a memorandum of understanding (MoU) with Ashok Leyland for commercial vehicle financing. Read Full Story

DCB increaes interest rates on NRE rupee term deposits
Mumbai, Dec 30 : Development Credit Bank Ltd has increased interest rates on Non-Resident External (NRE) Rupee term deposits to the industry's highest rates of 10 per cent for an 18-month tenor. Read Full Story

RBI gives banks draft guidelines on capital regulation
New Delhi, Dec 30 : The Reserve Bank of India (RBI) Friday released draft guidelines for implementing Basel III capital regulation in India aimed at improving the banking sector's ability to deal with economic stress. This will reduce the risk of a spillover from financial sector to the real economy. Read Full Story

RBI announces 8.87 per cent interest on Floating Rate Bonds 2017
Mumbai, Dec 30 : The Reserve Bank of India (RBI) today announced 8.87 per cent per annum interest on Floating Rate Bonds (FRB), 2017, applicable for half-year from January 2, 2012 to July 1, 2012). Read Full Story

Reserve Bank of India announces 8.87 per cent interest on Floating Rate Bonds 2017
Mumbai, Dec 30 : The Reserve Bank of India (RBI) today announced 8.87 per cent per annum interest on Floating Rate Bonds (FRB), 2017, applicable for half-year from January 2, 2012 to July 1, 2012). Read Full Story

SBT opens Gold Point Branch in Kerala
Thiruvananthapuram, Dec 29 : State Bank of Travancore (SBT) has opened exclusive Gold Point branches to cater to the needs of Gold Loan borrowers in Kerala. Read Full Story

RBI allows NRIs to hedge currency risk with Indian banks
Mumbai, Dec 29 : The Reserve Bank of India today announced that it has allowed non-resident Indians to hedge currency risk for external commercial borrowings (ECBs), denominated in rupees, with Indian banks. Read Full Story

Bank of India raises interest rates on NRE term deposits
Mumbai, Dec 29 : Public Sector Bank of India Thursday said it would raise interest rates on non-resident external (NRE) accounts up to 9 percent from the new year. Read Full Story

IDBI bank hikes interest rates on NRE deposits
Hyderabad, Dec28: IDBI Bank has revised its Interest rates on NRE deposits to 9.5 per cent per annum for deposits with maturity ranging from one year one day to 10 years. Read Full Story

ICICI bank revises NRE deposit rates
Hyderabad, Dec 28 : ICICI Bank Limited, the largest private sector bank, increased interest rates on Non Resident External (NRE) deposits upto 9.25 per cent. Read Full Story

SSLL pacts with OBC, PNB and Yes Bank
New Delhi, Dec 28 : Shree Shubham Logistics Ltd (SSLL) today announced that it has signed MoU with Oriental Bank of Commerce (OBC), Yes Bank and Punjab National Bank (PNB) to benefit scores of farmers in availing post-harvest credit facilities Under the pact, SSLL, a unit of the Gandhinagar-based utility company Kalpataru Power Transmission, will now provide collateral management and referral services to these banks for extending post-harvest credit facilities to farmers, traders and other market participants. Read Full Story

Agriculture infrastructure needs attention from Banks: Nabard
Bangalore, Dec 27: National Bank for Agriculture and Rural Development (NABARD) Executive Director B H Shekhawat today urged the state government and banks to pay greater attention to infrastructure development besides lending for agricultural activities. Read Full Story

RBI to issue special coins on century of civil aviation
New Delhi, Dec 27 : The Reserve Bank of India Tuesday said it will shortly circulate coins of Rs.5 denomination to commemorate 100 years of civil aviation in the country. Read Full Story

Federal Bank hikes interest rates on NRE term deposits
New Delhi, Dec 27: Private sector lender Federal Bank today said it has revised interest rates on non-resident external (NRE) term deposits. Read Full Story

SBI,Punjab National Bank raises interest rate on NRE term deposits
Mumbai, Dec 27: State Bank of India (SBI), the country's largest lender, and Punjab National Bank (PNB) Tuesday said they would more than double interest rates on non-resident external (NRE) accounts to up to 9.25 percent - effective Jan 1, 2012. Read Full Story

Kotak Mahindra hikes interest rate on NRE deposits
New Delhi, Dec 27 : Private sector lender Kotak Mahindra Bank today announced the revision in non-resident external accounts. Read Full Story

Axis Bank launches Insta Car Loans
Kolkata, Dec 26: Axis Bank, India's third largest private bank, on Monday announced the launch of 'Insta Car Loans', an auto finance facility that approves instant car loans at various car dealerships and at its branches. Read Full Story

Oriental Bank of commerce hikes interest rates on NRE Term Deposits
Mumbai, Dec 26 : Public sector lender Oriental Bank of commerce (OBC) has hiked interest rates on Non Resident Term Deposits of various maturities, with effect from today. Read Full Story

Federal Bank hikes NRE rates
Mumbai, Dec 26: Private sector lender HDFC today steeply increased the interest rates on select maturities of Non Resident External (NRE) deposits, effective today Federal Bank increased the interest rates on (NRE) deposits of Rs 1 crore and above with a maturity of one to 9.10 per cent, and for 1 year to 2 year it will be 8.75 percent and above 2 year it will be 7.50 percent. Read Full Story

Vijaya Bank offers concession in home loans' processing fee
New Delhi, Dec 25: The government-run Vijaya Bank is offering a 50 percent concession in the processing fee on home loans. Read Full Story

Mercantile Bank hikes interest rates on NRE deposits
Tuticorin,Dec 25 : Tamilnad Mercantile Bank General Manager, Business Development,Selvan,Rajadurai today said the bank would hike the interest rates on its Non-Resident External (NRE) Deposits with effect from tomorrow. Read Full Story

ACE partners with Kotak Mahindra Bank
Mumbai, Dec 24 : ACE Derivatives and Commodity Exchange Limited today announced its tie-up with Kotak Mahindra Bank to provide the commodity funding by launching 'Comfin - a platform for seamless financing of commodity deliveries on Ace'. Read Full Story

Dena Bank offers 9.60pc interest on NRE term deposit
Kolkata, Dec 24 : Pursuant to recent deregulation of interest rates on NRE term deposit by Reserve Bank of India, Dena Bank has hiked interest on NRE term deposit to 9.60 per cent for one year maturity and 9.25 per cent for maturity period for more than a year and upto three years, the highest among PSU banks. Read Full Story

United Bank finalises Arranger for its Tier-II Bond Issue
Kolkata, Dec 24 : Public sector United Bank of India (UBI) has appointed IDFC Limited as the arranger for its proposed Tier-II Bond Issue, Chairman and Managing Director Bhaskar Sen said here today. Read Full Story

Dena Bank hikes interest on NRE term deposit
New Delhi, Dec 24 : Mid-size public sector lender Dena Bank today announced the hike in interest on NRE (non-resident external) term deposit to 9.60 per cent for the maturity period of one year from the existing 3.82 per cent. Read Full Story

HDFC Bank hikes NRE rates
Mumbai, Dec 23 : Private sector lender HDFC today steeply increased the interest rates on select maturities of Non Resident External (NRE) deposits. Read Full Story

Dhanlaxmi Bank hikes interest rates on Non-Resident External deposits
Kochi, Dec 22: Dhanlaxmi Bank, one of India's fastest growing mid-size private sector banks, announced an increase in interest rates on Non-Resident External (NRE) Rupee term deposits with effect from December 26. Read Full Story

RBI will take mesures to check speculative trade in rupee: Subbarao
Vijayawada, Dec 22 : Reserve Bank of India (RBI) Governor Duvvuri Subbarao today indicated that the Central Bank will intervene in the currency market to ensure that the rupee is not depreciated further. Read Full Story

Don't treat depreciation of rupee with self respect: RBI Governor
Vijayawada, Dec 22: Reserve Bank of India (RBI) Governor Duvvuri Subbara today asked people of the country not to 'treat' depreciation of rupee with depreciation of 'self respect' as there would be fluctuations. Read Full Story

Lakshmi Vilas Bank hikes rates on NRE term deposits
New Delhi, Dec 22 : Private sector lender Lakshmi Vilas Bank has announced as increase in the interest rate on Non-Resident External (NRE) term deposits, effective from today. Read Full Story

Yes Bank hikes savings rate to 7 pc
Mumbai, Dec 22 : Private sector lender, Yes Bank today raised its savings rates to 7 per cent from 6 per cent for domestic customers with balance over Rs 1 lakh with immediate effect and has become the first bank to revise the rate twice this year, taking advantage of recent degulation to built up retal business. Read Full Story

ICICI Bank up by 7.67 per cent to Rs 702.45
Mumbai, Dec 21 : ICICI Bank rallied by 7.67 per cent to Rs 702.45, leading the top gainers in the 30-scrip index on the Bombay Stock Exchange (BSE) today. Read Full Story