Bulgaria scrambles to stop bank run after EU approves aid

Bulgaria on Monday scrambled to reassure savers its beleaguered banking system was "functioning normally" after Brussels extended a credit line to stop a run on two banks turning into a full-blown crisis.

Asia presents huge developmental potential for Islamic finance

Asia presents huge developmental potential for Islamic finance and is likely to be the main driver of Islamic banking growth in the near future given the untapped potential in India, Bangladesh and Indonesia, according to a report.

Switzerland, India, 45 others agree on tax info exchange

In another step towards shedding banking secrecy practices, 47 nations including Switzerland and India, have agreed upon automatic exchange of information on tax matters.

Trade Union strike: Banking, transport sector hit in Gujarat

The strike call by Central trade unions hit normal life in Gujarat on Wednesday as workers from varied sectors, including transport and banking, refrained from work.

Strike hits transport, banking in Punjab, Haryana

Transport and banking services were hit in Punjab, Chandigarh and Haryana in the wake
of the day-long strike called by major trade unions.

Strike disrupts banking, transport sector in Delhi

Functioning of PSU banks was affected and a number of autos and taxi drivers kept their
vehicles off the roads.

95% households in NE do not have access to banking

Altogether 95 percent households in North East do not have access to banking services against the national average of 43 percent, RBI Deputy Governor Shyamala Gopinath said here on Saturday.

SBI hikes deposit rates by 25-75 bps

India`s largest lender bank, the State Bank of India, on Thursday asserted it will raise its deposit rates by 25-75 bps from Friday. However, the base rate will remain unchanged, added the bank.

Davos ends with recovery warning after banking bust-up

The world economy is recovering but remains fragile and dogged by huge deficits, top officials said on Saturday at the end of a Davos summit clouded by divisions over banking reform.

Taxing banks could be counter-productive: George Soros

Billionaire George Soros opens up his mind about how to put right the banking sector, which has become a symbol of failure and recession. He told the BBC that being tough on banks at this juncture may not be such a good idea.

Bankers likely to meet RBI on Jan 14 ahead of policy

Relaxation in the norms relating to infrastructure lending and 70 per cent loan loss coverage ratio are likely to top the agenda when bankers meet RBI on January 14, ahead of the quarterly policy review.

House banking panel set for final regulations vote

House lawmakers are ready to clear a significant hurdle in their drive to slap new financial restraints on big Wall Street institutions and to demand greater openness from the nation`s central bank.

India, Iran to improve banking for trade

With a bilateral trade of USD 13
billion, India is considering to set up banking facilities in
Iran where the Indian industry has established a large
presence in the areas of steel, mining and energy.

ING to sell Swiss pvt banking biz for 344 mn euros

Dutch financial services
major ING Group on Wednesday said it will sell its Swiss private
banking business to Switzerland-based Julius Baer for 344
million euros.

Japan picks ex-policeman for banking minister: Report

Japan`s incoming government has picked a 72-year-old veteran politician and former policeman to take charge of financial supervision in the world`s second-largest economy, public broadcaster NHK said on Tuesday.

Tesco grows banking service with 800 new jobs

Britain`s biggest retailer Tesco said Thursday its personal finance unit would open a customer centre in Scotland, creating 800 jobs and bringing the group nearer to providing full banking services.