After witnessing a robust growth for four consecutive fortnights, loans growth saw a decrease in the latest fortnight ending October 23. Though the bankers are optimistic that the growth in the second half of the fiscal would be better than

The government has parked idle funds worth Rs 61,343 crore in its account with the Reserve Bank of India. The idle money with RBI increased from Rs 12,837 crore in June 2009 to Rs 80,775 crore by end-September, and has

Bihar's deputy Chief Minister, Sushil Kumar Modi's announcement to entitle the state Bataidars (sharecroppers) and landowners to Kisan Credit Cards has led to protests from the state legislators. The legislators are demanding his resignation. Kisan Credit cards are becoming increasingly

Nation's largest lender, State bank of India, said that it might not withdraw the home loan offer immediately. The home loan offer charges interest rates as low as 8 percent for the first year of repayment.As per the scheme, customers

An official from finance ministry said that the government has planned to make an amendment in the law regarding its stake in India largest lender, State Bank of India (SBI), thereby enabling the bank to raise funds.Currently the government is

The centre is in talks with the banking regulator, RBI to ease foreign direct investment norms for banks having over 50 percent foreign ownership but operated by Indians. These banks include ICICI bank and HDFC bank amongst others.ICICI bank had

Reserve Bank of India has decided to carry out an audit in order to measure the transparency in all financial operations of foreign banks in India. The reason behind this is to ensure that these banks do not pose any

According to a report on trends and progress of banking in India released by RBI only 1.2% of Urban Cooperative banks (UCBs) held deposits greater than Rs. 1000 crore as on March 2009. These banks constituted 33.6% in the entire

RBI has bought 200 tonnes of gold from International Monetary fund (IMF). This would not just help in diversifying India's foreign exchange but also help in enhancing value of reserves.Gold prices have been rising at a faster pace than most

Air India has managed to procure a Working Capital loan worth Rs. 500 crore from SBI. The loan would be used in payments of delayed allowances and incentives to the employees. AI was in urgent need of loans worth Rs.

Bailed out insurance giant AIG announced Friday a profit of $455 million in the third quarter, a massive turnaround from a $24.4 billion loss in the same period last year.The earnings from group, the largest recipient of US government aid

G20 finance ministers met Friday to shore up the recovery from the global financial crisis and discuss funding for a still uncertain agreement on climate change.The ministers from the world's 20 most powerful and fastest emerging economies held the third

The US unemployment rate has surpassed 10 percent for the first time since 1983, and is likely to go higher.Nearly 16 million people can't find jobs even though the worst recession since the Great Depression has apparently ended. The Labor

Wanted: outgoing and enthusiastic applicants to work as restroom ambassadors in central New York location. Good pay.Amid a struggling US economy, hundreds of jobseekers applied on Thursday at the open auditions for the opportunity to interact with guests at the

British Airways Plc. fell to a worse-than-expected first-half loss and forecast annual revenues 1 billion pounds lower than last year, but said traffic volumes and yields had stabilized.The airline, whose alliance with American Airlines and Spain's Iberia is being scrutinized

China denounced as protectionist new US anti-dumping duties on steel pipes and launched its own investigation into imports of US-made automobiles on Friday, a week before a visit by President Barack Obama.It also called for Washington's swift recognition that China

Despite signs of an economic revival gathering pace around the globe, the millions of people laid off during the worst recession in 70 years are unlikely to see relief any time soon as joblessness is still climbing in many of

IBM today unveiled the Lotus Center for Advanced Collaboration (LCAC). The center, which is claimed to be the only one of its kind in Asia Pacific, is located at the IBM Software Lab in Pune and will host dedicated technical