Banking & Finance - Banking News and Financial News

BoB in pact with trust for risk sharing facility scheme

Bank of Baroda and Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), have signed a memorandum of understanding to implement a risk sharing facility scheme for micro and small enterprises.

Bank of New York Mellon to axe 1,800 jobs

The Bank of New York Mellon will cut its worldwide work force by 4 pct, or about 1,800 jobs.

No evidence of manipulative trading in ICICI shares: SEBI

Market regulator SEBI has said that it did not find evidence of manipulative trading in shares of ICICI Bank.

Fed signals rate cut amid glum outlook

Federal Reserve officials have pared their outlook for economic growth through 2009 to minimal levels and are prepared to cut interest rates further.

Bank stocks wilt, ICICI Bank down 10 pct

Banking stocks on Thursday tumbled in early trade on the Bombay Stock Exchange, the fall led by ICICI Bank.

Fitch affirms ICICI Bank ratings

The agency has affirmed ICICI Bank's long-term foreign currency issuer default rating (IDR) at BBB-.

PM wants RBI vigil on liquidity situation: FM

Prime Minister Manmohan Singh has asked the central bank to keep a vigil on liquidity availability in the financial system.

Citigroup layoffs: Impact on India limited

Citigroup assured that about 52,000 layoffs over the world will have a 'limited' impact on India.

Syndicate Bank revises interest rates

Syndicate Bank has revised the rates of interest upwards on Non-Resident External (NRE) Term Deposits and FCNR(B) deposits with effect from Monday.

More scope of further rate cuts: Kamath

Industry chamber CII on Tuesday said there is more scope of monetary action to further ease liquidity and help banks to cut interest rates.

Nearly 90,000 financial jobs cut since Sept

HSBC's layoff is the latest in a wave of cuts that has seen nearly 90,000 jobs axed since Sept.

RBI not to cut rates immediately: Subbarao

RBI Governor D Subbarao said after the meeting: 'There is nothing on the anvil immediately.'

Pressure builds on bailout banks to cut bonuses

Goldman, expected to report a fourth-quarter loss, said on Sunday that Chief Executive Lloyd Blankfein and six others would get no 2008 bonus.

India needs big rate cut to lift economy: ICICI

Interest rates in India have to come down by another 2-3 percentage points in order to stimulate demand in the economy, ICICI Bank chief K.V. Kamath said.

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