Banking & Finance - Banking News and Financial News

Blackstone approaches Citi to buy auto-loan biz unit

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.

IDBI Fortis Life Insurance to break even by 2015

IDBI Fortis Life Insurance said it expects to break even by 2015.

RBI fixes reference rate for US dollar and Euro

RBI fixed reference rate for Dollar at Rs 46.41 per dollar and at Rs 69.26 per euro.

HDFC Bank cuts rates for used cars

Even as the days of cheaper rates are numbered, banks are trying to woo their customers for used cars with lower interest rates.

Build corporate bond market to fund infra projects: Assocham

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.

RBI asks banks to disclose commission from MF, insurers

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.

UBS guns for $14 bn yearly profit

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.

RBI fixes Reference rate for US dollar and Euro

RBI fixed the Reference rate for Dollar at Rs 46.26 per dollar and at Rs 68.89 per euro.

Central banks unlikely to go for co-ordinated withdrawal of stimulus: Sinha

Central banks are unlikely to go in for a co-ordinated withdrawal of stimulus measures.

Subir Gokarn appointed RBI deputy governor

S&P's Asia Pacific Chief Economist Subir Gokarn has been appointed as RBI deputy governor.

Goldman launches support initiative for businesses

Financial services firm Goldman Sachs has started a USD 500-million initiative to support small businesses across the United States.

HDFC forays into education loan biz

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.

Union Bank starts auditing branches

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.

RBI to go hi-tech in one-to-one fund transfer

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.

Norms on OTC forex derivatives eased

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.

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