http://www.financialexpress.com/index.php Sun, 22 Nov 2009 01 : 21 : 56 +05:30 financialexpress.com http://static.expressindia.com/frontend/fe/images/financial-logo.gif http://www.financialexpress.com/index.php Feed provided by financialexpress.com http://www.financialexpress.com/news/pnb-for-stake-in-kazakhstanbased-bank/544534/ Punjab National Bank plans to acquire a majority stake in a Kazakhstan-based bank http://www.financialexpress.com/news/icici-bank-raises-750-mn-through-bond-issue/544499/ ICICI Bank has raised $750-million through the issue of five-year bonds. http://www.financialexpress.com/news/sbi-card-launches-mshop/544163/ SBI Card, the credit card service offering from the State Bank and GE Capital, launched mShop. http://www.financialexpress.com/news/blackstone-approaches-citi-to-buy-autoloan-biz-unit/543787/ Citigroup is in informal talks with Blackstone Group and other private equity firms for selling its auto-loan business unit CitiFinancial Auto, a media report has said. http://www.financialexpress.com/news/idbi-fortis-life-insurance-to-break-even-by-2015/543733/ IDBI Fortis Life Insurance said it expects to break even by 2015. http://www.financialexpress.com/news/rbi-fixes-reference-rate-for-us-dollar-and-euro/543699/ RBI fixed reference rate for Dollar at Rs 46.41 per dollar and at Rs 69.26 per euro. http://www.financialexpress.com/news/hdfc-bank-cuts-rates-for-used-cars/543829/ Even as the days of cheaper rates are numbered, banks are trying to woo their customers for used cars with lower interest rates. http://www.financialexpress.com/news/build-corporate-bond-market-to-fund-infra-projects-assocham/541141/ India Inc today pitched for a regulatory mechanism to facilitate development of bond and debt market and help the industry raise long-term funds for infrastructure sector. http://www.financialexpress.com/news/rbi-asks-banks-to-disclose-commission-from-mf-insurers/542237/ To lend transparency, the Reserve Bank directed banks to disclose the commission it received from mutual funds and insurers for referring their products to customers. http://www.financialexpress.com/news/ubs-guns-for-14-bn-yearly-profit/542772/ Swiss banking major UBS said it aims to achieve the target of about 15 billion Swiss francs pre-tax profits per year over the next three to five years. http://www.financialexpress.com/news/rbi-fixes-reference-rate-for-us-dollar-and-euro/543215/ RBI fixed the Reference rate for Dollar at Rs 46.26 per dollar and at Rs 68.89 per euro. http://www.financialexpress.com/news/central-banks-unlikely-to-go-for-coordinated-withdrawal-of-stimulus-sinha/543248/ Central banks are unlikely to go in for a co-ordinated withdrawal of stimulus measures. http://www.financialexpress.com/news/subir-gokarn-appointed-rbi-deputy-governor/543266/ SandP's Asia Pacific Chief Economist Subir Gokarn has been appointed as RBI deputy governor. http://www.financialexpress.com/news/goldman-launches-support-initiative-for-businesses/543294/ Financial services firm Goldman Sachs has started a USD 500-million initiative to support small businesses across the United States. http://www.financialexpress.com/news/hdfc-forays-into-education-loan-biz/541140/ HDFC announced acquisition of 41 per cent stake in education loan provider Credila Financial Services -- marking its entry into a specialised market estimated at over Rs 30,000 crore. http://www.financialexpress.com/news/union-bank-starts-auditing-branches/542874/ After some of its branches were interrogated by the income-tax department for their involvement in the Madhu Koda money-laundering case, state-owned Union Bank has started auditing the accounts of the branches which had shown high transactions. http://www.financialexpress.com/news/rbi-to-go-hitech-in-onetoone-fund-transfer/540702/ The Reserve Bank of India has included implementation of the feature- rich RTGS system, India MoneyLine, among a slew of new projects the apex bank is intending to pursue. http://www.financialexpress.com/news/norms-on-otc-forex-derivatives-eased/540704/ The Reserve Bank of India, in its draft guidelines on over-the-counter forex derivatives and hedging commodity price and freight risk overseas, has allowed banks to offer plain vanilla cross-currency options to people who reside in India but want to transform their rupee liability to a foreign currency liability. http://www.financialexpress.com/news/rbi-plans-to-play-own-card-against-visa-mastercard/540867/ If things work out as planned, India may soon have a domestic payment card system — a rival to multinational card associations like Visa, Mastercard and American Express. http://www.financialexpress.com/news/asian-giants-wary-of-feds-low-rate-policy/542276/ Financial officials in Japan and China, Asia’s two largest economies, warned the Federal Reserve’s interest-rate policy risks spurring speculative capital that may inflate asset prices and derail the global economic recovery. http://www.financialexpress.com/news/bank-unions-to-strike-on-december-16-protesting-merger/540684/ Bank unions have called for country wide bank strike on December 16 protesting against the merger of State Bank of Indore with the State Bank of India. http://www.financialexpress.com/news/rbi-to-submit-financial-stability-report-in-december/540683/ The Reserve Bank of India would submit a financial stability report on public and private sector banks by December this year, an official of the apex bank said . http://www.financialexpress.com/news/ubs-fined-and83568mn-for-misusing-client-accounts/540630/ Swiss bank UBS has been fined 8 million pounds in the UK after four of its senior employees were found misusing funds of customers. http://www.financialexpress.com/news/scan-for-terror-accounts-rbi-to-banks/540597/ Banks are directed by RBI to scan accounts to ensure that they are not linked to terror groups. http://www.financialexpress.com/news/debtbased-mfs-quality-improves-crisil/540240/ After the 2008 debacle, the mutual funds industry seems to have cleaned up its debt portfolio drastically and is simultaneously looking to remain cautious ahead. According to a study carried out by rating agency Crisil, the quality of portfolio of debt-based mutual funds has improved significantly.