The banking major HSBC has indicated that its One-Time Tokens will be rolled out soon to support its anti-fraud solutions. This has been planned to address the security measures in online banking.
 
Derek Wylde, the head of HSBC’s group fraud risk told that there was very high risk in ...

Banking in Bangladesh entered a new era with the commencement of online payment system introduced by the country's central bank. It facilitates fund transfers and payment of utility bills on the net.
 
The new move allows people to use local currency credit cards for online transactions ...

Syndicate Bank has registered a net profit of Rs.178 crore for the second quarter of 2009-10 fiscal which ended on Sep 30, witnessing a 32% dip from the Rs.262 crore reported during the similar period previous fiscal.
 
The total income of the Bank stood at Rs.2,821 crore for the Q2 of this ...

Along with the welcoming of RBI’s reviewed monetary policy, the FICCI and other industry think tanks have expressed hope of the retention of stimuli package, since the signs of economic recovery have not yet been stabilized.
 
The Reserve Bank of India (RBI) slightly tightened its ...

The half-yearly review of India's monetary policy for 2009-10 was conducted by Reserve Bank Governor D. Subbara today in Mumbai amidst the presence of CEOs of private banks. The highlights are as given below:-
 

Statutory liquidity ratio hiked to 25 percent from 24 percent
Bank ...

In an attempt to gain control over the creeping inflation, RBI has made its monetary policy a bit more stringent, with most of the key policy rates remaining the same.
 
A hike of 100 basis points in the statutory liquidity ratio, while maintaining status quo on all other policy rates and ...

Kolkata-based non-banking financier Srei Infrastructure Finance has registered a net profit of Rs.26.58 crore for the Q2 of 2009-10 fiscal year which ended on Sep 30 when compared to the Rs.26.18 crore registered during corresponding period last fiscal.
 
The total consolidated income for ...

A dedicated team which will provide financial services exclusively to the Indians located in Australia has been formed by HSBC Bank Australia.
 
According to reports of The Age, these financial services will provide the customers with banking products of HSBC Australia along with enquiries ...

Government run Canara Bank has registered a net profit of Rs.910 crore for the Q2 of the 2009-10 fiscal year which ended on Sep 30. This is about 72% up from the Rs.529 crore net profit registered during the corresponding period last fiscal.
 
The total income for 2009-10 Q2 has been ...

The RBI will be reviewing the monetary policy of the2009-10 fiscal on Tuesday, with the signs of economy recovering become more evident, but concerns regarding the rising inflation due to higher food prices still exits.
 
The policy will be reviewed in the presence of chief executives of ...

Kolkata-based Allahabad Bank has reported a net profit of Rs.333.59 crore for the second quarter of the 2009-10 which ended on Sep 30, 2009. This is about 700% up from the net profit of Rs.41.68 crore reported during the corresponding period last year.
 
"The net profit growth happened ...

The Andhra Pradesh Grameena Vikas Bank, a SBI sponsored bank, will be using IBM's hardware platform for implementing its core banking application across its 530 branches
 
"As the first regional rural bank in the country to implement a core banking application, the bank will use a range ...

The Citigroup led by its Indian American chief executive Vikram Pandit has reported a slim profit of just $101 million in the third quarter, indicating its road to recovery may be a little longer.
 
With credit problems, particularly within its consumer-related businesses, weighing down its ...

The World Bank has approved a $320 million loan to India, designed to improve quality, capacity and safety of roads in the state of Andhra Pradesh.
 
The loan from the International Bank for Reconstruction and Development (IBRD) with a maturity of 30 years, including a grace period of 5.5 ...

Government-run UCO Bank has reported a net profit of Rs 207.72 crore for the Q2 of 2009-10 fiscal, which ended on Sep 30. This is 38.4% up from the net profit recorded during 2008-09 fiscal.
 
The UCO bank had reported a net profit of Rs 150.09 crore during the corresponding period last ...

RBI has given Standard Chartered the approval for issuing Indian depositary Receipts. The reports have come in the Economic Times on Monday.
 
Standard Chartered, which receives 19% of its profit from India, has been permitted for raising up to 5% of the capital from one IDR issue. But ...

According to reports, a cap, on the withdrawing of money from an ATM, which does not hold a particular customer’s account, will be introduced with effect from Oct 15.
 
The customers will be able allowed to take a maximum of Rs. 10,000 per withdrawal from an ATM which does not have his ...

HSBC InvestDirect has begun the process of delisting itself from Indian stock exchanges.
 
"We have already delisted from Luxembourg Exchange and we have also announced our intention to delist from Indian stock exchanges," Manasije Mishra, managing director and chief executive of ...

Finance Minister Pranab Mukherjee has mentioned that the new direct tax regime will be effective from 2011. This will offer rationalised rates and simplified procedures to people. Stakeholders can still express their views for finalising the proposal.
 
"We want to present all ...

The SBI Holdings Inc of Japan has plans for rolling out an Islamic investment fund which is worth about $112 million by next year. It also has plans for setting up an online brokerage firm in India.
 
More than 50% of the revenues of SBI are generated via asset management and brokerage and ...

According to the reports from the Economic Times, government will be looking into the proposals for the induction of strategic investors in the public sector banks, which are facing financial crunch.
 
According to Economic Times, the discussion regarding the same will be attended by senior ...

IMF has called for the continuation of monetary and fiscal stimuli in Asian countries till clear signs of economic recovery become visible. According to the IMF official, the global economy is recovering the recession with India and China leading the emerging nations’ recovery ...

With commercial banks adopting the decision for providing credit cards to farmers, government-run Allahabad Bank has also chosen to follow their footsteps.
 
"The idea behind the move is to save weavers from perennial exploitation by moneylenders", told the Allahabad Bank ...

Yes Bank has signed a deal with a France-based multilateral development finance agency, Proparco, for raising Rs.97.45 crore as subordinated debt.
 
"The bank intends to raise up to Rs.500 crore by way of subordinated debt forming part of upper and lower tier II capital by end of March ...

Standard Chartered Plc has launched the world’s first 150-dollar bank notes on Wednesday, to mark the 150th anniversary of the bank in Hong Kong.
 
Standard Chartered, one among the three banks of Hong Kong, which issues notes, has launched 1 million 150-Hong-Kong-dollar notes, each of ...

According to RBI deputy governor Usha Thorat, agents will be engaged by RBI so that the villages can also have access to banking services.
 
"To act on behalf of the banks and to provide certain banking services among the uncovered people, non-government organizations, self-help groups, ...

Piyush Gupta, who had been a part of Citibank Inc, has been appointed by DBS Group Holdings Ltd of Singapore as its new CEO. DBS Group Holdings Ltd is the largest bank in South-East Asia. This announcement was made by the DBS Group on Monday. The earlier CEO of the bank had passed away five months ...

According to Punjab State Public Works Department Minister, Parminder Singh Dhindsa, about Rs. 1,500 crore has been approved by the World Bank for the Punjab State Road Sector Project. This project has been designed so that 1,100 km of the roads in Punjab can be given a better ...

Dhanalakshmi Bank has offered an Employee Stock Option Plan for its employees. This private bank has come up with this decision so as that its employees can be rewarded. The bank also feels that fresh pool of talent can be attracted by means of this initiative.
 
An ESOP Trust has been ...

According to sources, IndusInd Bank has raised about $100 million by introducing shares with institutions at 87.5 rupees per share.
 
The deal was arranged by Morgan Stanley and IDFC-SSKI which has caused a dilution of 13.
 
Company officials have not commented on the deal.