Allahabad Bank, one of the oldest banks in the country, is planning to raise Rs 1,000 crore through bonds by the end of this month.

Allahabad Bank to raise Rs 1,000 cr via bonds

Business Standard

India has room to cut interest rates further, and it should quickly disburse funds related to the fiscal stimulus packages announced recently to cushion economic growth from the impact of the global economic turmoil, Asian Development Bank (ADB) said in a new study published today.

India can cut interest rates further, says ADB study

The yen declined against the dollar, euro and Swiss franc as Japan posted its first trade deficit in 13 years, reducing the currency&rsquo;s appeal as a haven.

Yen slips on Japan&#39;s first trade deficit in 13 years

Faced with risks of losing business, urban cooperative banks (UCBs) have sought interest subsidy to provide support to export intensive units, especially the small and medium enterprises (SMEs) that were hit hard by the slowdown in demand.

Urban co-op banks seek rate subsidy for export credit

UK 10-year gilt yields fell to the lowest level in at least 20 years amid evidence Britain&rsquo;s banking woes are deepening as policy makers prepare to buy government and corporate assets to inject cash into the shrinking economy.

UK's gilt yield at 20-yr low on banking woes

Six months after declaring bankruptcy, US-based financial services firm Lehman Brothers has started closing its deals with Indian firms at a discount. Most of these deals include outstanding payments for acquisitions or stakes in companies.

Lehman starts closing deals at discounts

Hedge funds and foreign currency convertible bonds (FCCBs) are replacing real estate as popular offshore investment destinations for India&rsquo;s richest.

Hedge funds, FCCBs catch the fancy of India&#39;s super-rich

Banking major Citigroup has been profitable in the first two months of this year and reaped revenue of over $19 billion, a media report said.

Citi profitable in first two months this year: report

Press Trust of India

Norwegian bank DnB NOR today opened a representative office here to cater to its strong base of ship owning community besides providing services to domestic companies which have established themselves in India.

Norwegian bank opens representative office in Mumbai

Life Insurance Corporation of India (LIC) expects its Entrepreneur Data Management System (EDMS) to be functional in its Berhampur division in Orissa by 2010. The EDMS would enable the public sector life insurer to maintain paperless records of its customers.

EDMS in LIC's Berhampur division by 2010

Indian companies planning premature buybacks of their foreign currency convertible bonds (FCCBs) are finding it difficult to get sellers at the right price. These companies have already sought an extension in the deadline for this from the Reserve Bank of India (RBI).

But sellers remain elusive

In an attempt to better serve its customers in the shipping and energy sectors in India as well as Norwegian companies operating in the country, Norway-based financial services group DnB NOR ASA opened a representative office in Mumbai today.

'Norway-based finance major opens Mumbai office'

Citigroup Inc Chief Executive Officer Vikram Pandit said his bank is having the best quarter since 2007, when it last posted a profit.

Citigroup having its best quarter since 2007, Pandit tells staff

European Central Bank council member Axel Weber said the ECB shouldn&rsquo;t cut its main interest rate below 1 per cent and that he would rather keep the rate at which it accepts overnight deposits unchanged.

ECB shouldn't cut key rate below 1%: Weber

Kolkata-based Allahabad Bank is planning to raise Rs 1,000 crore through bonds by the end of this month. Out of this, the bank intends to raise Rs 900 crore through tier II bonds, and Rs 100 crore through tier I bonds.

Allahabad Bank to raise Rs 1000 crore via bonds

Federal Reserve Chairman Ben S. Bernanke urged a sweeping overhaul of U.S. financial regulations in an effort to smooth out the boom-and-bust cycles in financial markets.

Bernanke urges rules overhaul to stem risk build-ups

Thrissur-based South Indian Bank (SIB) is eyeing a total business of over Rs 29,000 crore by the end of this fiscal year. The bank achieved Rs 25,910 crore business last fiscal year.

SIB eyes Rs 29000cr business this fiscal

The World Bank is likely to fund the Rs 303 crore drinking water project for Berhampur in South Orissa. The scheme envisages bringing water from Surada reservoir, located about 100-km from here.

World Bank to fund Rs 303cr water project

State-owned IDBI Bank is in the process of recruiting 2,000 supervisory officers in the next six months to support the expansion of its branch network, said Chairman and Managing Director Yogesh Agarwal.

IDBI Bank to hire 2,000 officers in six months

Bank aims to close present fiscal with a business of around Rs 93,000 cr.

Vijaya Bank advances grow 30%

The state-owned IDBI Bank is in the process of recruiting 2,000 supervisory officers in the next six months to support the expansion of its branch network, said chairman and managing director Yogesh Agarwal.

IDBI to hire 2,000 officers in 6 months

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