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To ensure growth momentum in the employment sensitive micro and small enterprises as well as rural housing sectors, the Reserve Bank has  asked banks to provide Rs 3,000 crore for funds under SIDBI and National Housing Bank.
Of this amount, Rs 2,000 crore would be given to Micro, Small and Medium enterprises (Refinance) Fund with SIDBI […]

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Hong Kong, November 18: : HSBC Holdings PLC, Europe’s largest bank by market value, plans to cut 500 jobs in Asia due to the global economic slump.

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NEW DELHI: Asia will start to recover from the global downturn in a year to a year and a half and some of its economies have room for fiscal stimulus to boost consumption, a top official at the Asian Development Bank said.

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MUMBAI: The Reserve Bank on Monday allowed the cash-starved housing finance companies to raise short-term foreign currency-denominated funds from
overseas markets.

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NEW YORK: Citigroup Inc said on Monday it plans to cut about 50,000 jobs as souring economies and global credit conditions cause the US bank with the farthest reach worldwide to retrench.

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Country’s largest lender State Bank of India on Sunday said it will recruit 25,000 people this fiscal, a move at a time when the banking  majors are reducing jobs to cut costs amid global slowdown.
“For the last so many years, the bank has not been recruiting people. I understand the problem… This year, we are […]

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PM Manmohan Singh on Sunday appeared to back the case for further interest rate cuts as well as a lower tax regime when he said that the  decline in inflation could create room for aggressive application of monetary and fiscal policies in relation to interest rates.

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NEW YORK: Citigroup Inc is cutting at least 10,000 jobs in its investment bank and other divisions throughout the world, the Wall Street Journal  said, citing people familiar with the matter.

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BRUSSELS: The economy of the 15 nations sharing the euro has slumped into recession
for the first time ever, EU data released on Friday revealed, with GDP falling 0.2 percent in the second and third quarters.

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San Jose, Calif, November 14: : The global financial crisis can become an opportunity to help the world’s worst off, says the Nobel Peace Prize laureate known as the ‘banker to the poor’.

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