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Wednesday, March 26, 2008

Banking / Finance Sector Latest Updates

Banking and finance sector are very crucial sectors of indian economy and alight downtrend in these sectors can see a slowdown in Indian economy as well. also update yourself with latest updates from Auto Sector Updates Jobs Sector Updates Energy Sector Updates Media sector Updates Entertainment Sector Updates Telecom Sector Updates Banking Sector Updates Finance Sector Updates Healthcare Sector Updates Biotech Sector Updates Pharmaceuticals Sector Updates - and get the comprehensive news about growth of indian economy.

Latest Updates from Banking and Finance Sector:

April 2008 Banking Sector Updates:

  • SBI's clients may take a Rs 700-cr derivatives hit - (24/4/2008)
  • BoJ may drop call for higher rates as growth slows - (24/4/2008)
  • JWT Bangalore bags ING Vysya Bank's creative account - (23/4/2008)
  • State Bank to provision $10 million for subprime - (23/4/2008)
  • HDFC Bank plans mobile banks for microfinance - (23/4/2008)
  • Banks see lower credit growth in FY09 - (23/4/2008)
  • SBBJ to focus on retail segment - (22/4/2008)
  • HDFC bank to start mobile banking ATM - (22/4/2008)
  • ICICI Bank to scale down promotions, increments - (22/4/2008)
  • PNB Gilts records 4-fold jump in PBT - (22/4/2008)
  • South Indian, City Union save Dhanalakshmi's rights issue - (22/4/2008)
  • RBI rejects IFC plan to invest in Karnataka Bank - (22/4/2008)
  • Axis Bank net jumps 71% in Q4 - (22/4/2008)
  • Punjab National Bank to start Bhutan JV by year-end - (20/4/2008)
  • Deutsche to invest Rs 685-cr for its NBFC business - (20/4/2008)
  • IOB to take over assets & liabilities of Shree Suvarna - (19/4/2008)
  • SBI wants to move to global IFRS a/c standards, invites bids - (19/4/2008)
  • CRR hike to impact profitability: Kamath - (19/4/2008)
  • Citigroup posts $5.1 bn loss, to cut 9,000 jobs - (19/4/2008)
  • No hike in interest rates at least till Apr 29: Bankers - (18/4/2008)
  • CRR hike to affect profitability of banks: Kamath - (18/4/2008)
  • Banks cancel undrawn loan limits to firms - (18/4/2008)
  • PSU banks retain lead play in bank credit - (18/4/2008)
  • RBI wants deposit taking limited to banks - (18/4/2008)
  • ICICI Bank to offer Visa eMarketplace - (17/4/2008)
  • PSU banks may post poor result in Q4; pvt sector may do better - (17/4/2008)
  • PNB sees loan growth of 20 pc - (17/4/2008)
  • Corporation Bank launches reverse mortgage loan scheme - (17/4/2008)
  • Interest rate decision only after RBI policy: K V Kamath - (17/4/2008)
  • ICICI Bank not in hurry to list broking arm - (17/4/2008)
  • Bank of Baroda launches new health scheme in Oman - (17/4/2008)
  • SBI, Macquarie line up $1-bn fund for core play - (17/4/2008)
  • ICICI a/cs must’ve Rs 10k min balance - (17/4/2008)
  • StanChart pumps in $250-mn fresh funds - (17/4/2008)
  • Corp Bank launches NEFT through ATMs - (16/4/2008)
  • Stanchart keen to spread wings in rural India - (16/4/2008)
  • Bank of India sees 25 pc credit growth in Apr-Jun - (16/4/2008)
  • Volatility to sustain for few months: Peter Sands - (16/4/2008)
  • Axis Bank opens branch in Madurai - (16/4/2008)
  • State Bank, Macquarie plan India infrastructure fund - (16/4/2008)
  • ICICI Bank invests more in ICICI Prudential - (16/4/2008)
  • India Inc should focus on corporate governance standards: Kotak - (16/4/2008)
  • HDFC Bank inks pact with two carbon-credit firms - (15/4/2008)
  • Kotak Mahindra Bank rolls out credit cards - (15/4/2008)
  • SBI to launch mobile banking service soon - (15/4/2008)
  • Grievances against private banks rise 33% - (15/4/2008)
  • Smart cards enter rural, urban poor big time - (15/4/2008)
  • Banks open wallets as IIM aspirants fret over fee hikes - (15/4/2008)
  • Bankers say lending rates may go up post credit policy - (14/4/2008)
  • PNB expects 20 pc rise in net profit during 2008-09 - (14/4/2008)
  • Yes Bank mulling QIP to raise $300 mn by December - (14/4/2008)
  • JKSCB aims disbursing Rs 100-cr loans this fiscal - (13/4/2008)
  • HDFC Bank to enter Bahrain by the middle of the year - (13/4/2008)
  • Bank of Rajasthan's business crosses Rs 21,000 crore - (11/4/2008)
  • RBI bought $3.88 billion in February - (11/4/2008)
  • Yes Bank eyes two private sector banks for acquisition - (11/4/2008)
  • Germany's Dresdner Bank to open branch in India in 2009 - (10/4/2008)
  • Vijaya Bank signs pact with Fitch Ratings - (10/4/2008)
  • Vijaya Bank signs MoU with FITCH Ratings - (10/4/2008)
  • No immediate plans for merger: DCB - (10/4/2008)
  • Development Credit Bank plans asset management foray - (10/4/2008)
  • ICICI Bank expects SME business to grow by 50% in FY'09 - (9/4/2008)
  • TCI Cyprus Holdings buys 3.45 per cent in IOB - (9/4/2008)
  • Banks can't take stocks as security - (9/4/2008)
  • Born-again IndusInd to focus on core growth - (8/4/2008)
  • Open up banking sector
  • PNB to enter credit card business on its own by Sept
  • BoM scouting for partner in general insurance JV
  • UBI offers reverse mortgage at 10%
  • ICICI awaits RBI move on rates: Kamath
  • ICICI Bank to focus more on wealth management, mobile banking
  • Union Bank launches Reverse Mortgage scheme
  • NABARD credit to West Bengal touches Rs 1,309 cr
  • RBI delay forces PNB to go solo in credit cards
  • RBI seeks fresh bank loan exposure data
  • NABARD extended Rs 3,871 crore in credit support to AP
  • Govt rules out diluting stake in public sector banks
  • PNB revises interest rates on non-resident deposits
  • Citi woos expatriates in India to expand customer base
  • Bank of Canada injects C$835 million into market
  • ICRA inks MoU with State Bank of Indore for rating services
  • Citibank launches services for expatriate Indians
  • BoB revises foreign currency deposit rates
  • Bank deposits in Gujarat rise 5% in third quarter
  • UBS' India plan seen intact despite global writedown
  • J&K Co-operative Bank posts business of Rs 2,000 cr in FY08
  • Banks' hopes of treasury gains vanish as bond prices decline
  • Citigroup rejigs global operations on geographical lines
  • Barclays to set up private bank in India
  • Firms revisit derivative bets to clean books

April 2008 Finance Sector Updates:


  • UTI Ventures exits Excelsoft, earns 50 times its investment - (24/4/2008)
  • Morgan Stanley has a May 1 date with private equity play - (24/4/2008)
  • Oriental Insurance to provide cover to Mundra project - (23/4/2008)
  • IDFC raising $700 million India infrastructure fund - (23/4/2008)
  • IFCI stake sale not imminent-source - (23/4/2008)
  • Short-term debt yields rise as RBI dislike for 'surplus grows - (23/4/2008)
  • PEs invest $4 bn in first quarter of 2008 - (23/4/2008)
  • Central undertakings told to stopinviting bids for bulk deposits - (22/4/2008)
  • Bajaj FinServ eyes asset management - (22/4/2008)
  • Premji launches $1 bn PE fund - (19/4/2008)
  • RBI to encourage microfinance to curb money-lenders - (16/4/2008)
  • DHFL opens representative office in London - (16/4/2008)
  • Vision Global plans $200-million distressed debt fund - (16/4/2008)
  • SBI weighs merger of GTF with SBI Factors - (16/4/2008)
  • Private equity activity strongest in October-December quarter - (16/4/2008)
  • Singapore fund kicks off India ops with i-Flapp Tech - (16/4/2008)
  • ICRA assigns high rating to L&T Infrastructure - (15/4/2008)
  • Bidders see less value in GE units - (15/4/2008)
  • Unitech Realty to float 2 funds of $650 million - (14/4/2008)
  • Cramped for room, small brokerages look for exit - (14/4/2008)
  • Modern India in talks with PEs to dilute promoters' stake - (14/4/2008)
  • PE deals hit the road again, but M&As dry up - (14/4/2008)
  • HC asks Axis not to enforce Rajshree Sugars contract - (12/4/2008)
  • IDBI not to cut prime lending rate following inflation spiral - (11/4/2008)
  • Canara Robeco to merge equity funds - (12/4/2008)
  • Chidambaram to inaugurate British branch of IIFC - (10/4/2008)
  • Religare to buy UK's oldest broking firm Hichens Harrison - (9/4/2008)
  • Broadening finance access - (9/4/2008)
  • $1 billion infrastructure fund on anvil - (8/4/2008)
  • BankAm trader moves to JPMorgan in India - (7/4/2008)
  • Citi Venture, AIG scrap Akruti investment plan
  • Reliance Money plans 20,000 outlets by fiscal end
  • IDFC PE invests Rs 40 cr in Emergent Ventures
  • Ask plans PE fund with initial corpus of $100 mn
  • UK fund manager ties up with Tata for India equity fund
  • Reliance Money launches loyalty card for customers
  • SREI Infrastructure enters JV with BNP Paribas
  • RBI appeals not to deface currency notes
  • Darby Asia Mezzanine Fund invests in Coffee Day
  • Reliance Money brings Canadian partner in broking biz

MArch 2008 Banking / Finance Sector Updates:
- SREI Infrastructure enters JV with BNP Paribas

- RBI appeals not to deface currency notes

- Subprime fallout: RBI wants lenders to play counsellor

- RBI delay forces PNB to go solo in credit cards

- RBI seeks fresh bank loan exposure data

- NABARD extended Rs 3,871 crore in credit support to AP

- Govt rules out diluting stake in public sector banks

- PNB revises interest rates on non-resident deposits

- Citi woos expatriates in India to expand customer base

- Bank of Canada injects C$835 million into market

- Banks' hopes of treasury gains vanish as bond prices decline

- Citigroup rejigs global operations on geographical lines

- Barclays to set up private bank in India

- Firms revisit derivative bets to clean books

- ICRA signs MoU with State Bank of Indore to rate loans

- Vijaya Bank exceeds business target for 2007-08

- Oriental Bank to review interest rates in next 10 days

- Union Bank ties-up with Alankit to provide services

- Canara Bank inaugurates Retail Asset hub

- Bank of Maharashtra to merge 2 regional rural banks

- JM Financial unit to buy out ASK Sec's stake in JV

- Reliance Money gets approval to operate in Oman

- IDBI puts key rate cut decision on hold

- Indian Overseas Bank to take over Pune bank

- Mumbai accounts for 80 pc of bank deposits in Maharashtra

- Syndicate Bank releases Rs 1010 cr annual credit plan

- Canara Bank launches basket of products

- Federal Bank reaching out to NRIs

- RBI lets 2 Singapore banks open account in India

- State Bank of India gets Singapore full bank license

- Demand draft's bounce on stop payment order

- Axis Bank opens two new branches

- Banks may gain from bond holdings as yields plunge

- HSBC arm raises stake in Yes Bank by 4%

- Bank of India to roll out mobile phone banking

- Singapore's DBS bank to expand in India

- Union Bank sees lower FY08 credit growth

- State Bank of India buys 91% in factoring firm

- Federal Bank to open its 600th branch on 26/3/2008

- ICICI, Jaypee Infra ink Rs 1,150-cr deal

- Banks twist RBI's rules to sell leveraged products to corporate clients

- Bank credit slowdown reflects fading growth

- Bank of India plans to open full-fledged branch in Beijing

- SBI looking at alternate channels for rural penetration

- Religare to acquire UK broking co for $100 million

- Cholamandalam DBS to raise Rs 4,500 cr through private placement

- Fidelity plans Indian securities fund

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