Settlement deal reached with most of Kolkata officers: BTM 
Kolkata: The Bank of Tokyo-Mitsubishi Ltd has claimed to have arrived at an amicable settlement on the compensation package with most of the officers of the erstwhile Kolkata branch of the bank. 
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Bad apples eat into 46% of IFCI pie
New Delhi: The rot in IFCI may be deeper than expected. Stress assets ie, restructured and non-performing assets amount to 46 per cent of the financial institutions total assets, according to the latest balance-sheet. 
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Professionalise co-op boards, RBI tells Gujarat govt team 
Mumbai: In a bid to restore the shaken confidence of depositors in the co-operative banking sector in Gujarat in the wake of the closure of at least seven co-operative banks in the state within the recent weeks, RBI has strongly urged the Gujarat government to work towards professionalising the board of directors of the cooperative banks. 
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UBI gives in-principle nod for funding rail project 
Mumbai: The Union Bank of India (UBI) has accorded an in-principle approval for funding the Rs 373-crore Pipavav railway project. 
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Highest Icra rating for OBCs tier-2 bonds 
Mumbai: Investment Information and Credit Rating Agency has assigned an LAA+ rating to the proposed Rs 200 crore tier-2 bonds of Oriental Bank of Commerce indicating high saftey. 
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UTI Bank hits mart with Rs 100 crore tier-2 bonds 
Mumbai: In order to shore up its capital adequacy ratio, UTI Bank has entered the market to raise Rs 100 crore by issuing subordinated bonds. 
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LIC in talks with States for pensions for underprivileged
Kolkata: The States will first have to compile a list of people who will be eligible for such a cover and then submit it to LIC, which, in turn, will work out the costs, longevity, interest earning factors and other details that would be crucial to implementa tion of the plans. 
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Syndicate Bank's e-initiatives
Bangalore: Syndicate Bank has kicked off its electronic banking initiative through multiple delivery channels. The service launched on Thursday would provide banking services through the Internet, ATM and tele-banking. 
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SC upholds RBI ruling on Sanchayani
Mumbai: The Supreme Court has upheld Reserve Bank of India's directive to Sanchayani Savings and Investment Company Ltd, to stop accepting public deposits. The RBI has in its letter dated May 10, 1997, prohibited the company from conducting its business of being a non-banking finance company (NBFC). 
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60 pc rise in loan approvals by HDFC Dubai centre
Abu Dhabi: The spurt in investments in Indian real estate by NRIs in the Gulf over the past few months has had its ripple effect on HDFC's business in the region, with the corporation witnessing a significant growth in loan applications between April and August this year, over the same period last year. 
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RBI lowers risk weighting for New India's export credit cover
Mumbai: In a move designed to encourage better risk management products, the Reserve Bank of India (RBI) has reduced the risk weighting to 50 per cent for export credits covered by New India Assurance Company's Business Credit Shield (BCS). 
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Oriental Bank tests the waters with small fish
New Delhi: Amidst the sabre-rattling by lenders with the help of the new recovery law that has tilted the balance in their favour, Oriental Bank of Commerce (OBC) has chosen to be the odd one out. The bank has decided to test the waters by limiting initial action under the new loan recovery Ordinance against smaller defaulters instead of going after the larger ones. 
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BoI hikes FCNR rates
Mumbai: Bank of India has raised FCNR deposit rates by 15-20 basis points in some maturities effective September 7. Rates on dollar US deposits are 1.70 per cent (1.50 per cent) for one year to less then two years. 
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Applications worth Rs 1,458 cr for Union Bank IPO
Mumbai: Union Bank of India's maiden public issue has been oversubscribed five times, sources in the banking industry said. The bank had come out with an IPO for Rs 288 crore, of which Rs 28 crore was reserved for the employees. 
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