New Credit Suisse CEO promises 'ruthlessly selective' review: Report

Last Updated: Saturday, July 4, 2015, 09:11

Newly appointed Credit Suisse AG Chief Executive Tidjane Thiam, in an interview with the Financial Times, promised a "ruthlessly selective" review of the Swiss bank`s businesses, amid expectations that the incoming CEO would cut staff by about 15 percent from its investment banking arm.

Visa joins MasterCard, AmEx in ending use for Backpage sex ads

Last Updated: Thursday, July 2, 2015, 03:47

Visa Inc said on Wednesday it is joining MasterCard Inc and American Express Co in barring its credit cards from being used to pay for ads on Backpage.com following a request from a Chicago sheriff who said the site is used by sex traffickers.

Moody's cuts Greece rating deeper into junk territory

Last Updated: Thursday, July 2, 2015, 03:44

Moody's has cut its credit rating for Greece to a deep-junk "Caa3", warning it is now less likely that official creditors will support the country, whatever happens in Sunday's referendum.

Credit growth at tepid 3.7% in first 9 months of FY15

Last Updated: Monday, June 29, 2015, 21:48

Rural and semi-urban centres registered higher growth in credit, RBI said.

Moody's downgrades Bank of India, Canara Bank

Last Updated: Monday, June 29, 2015, 21:38

Rating firm Moody's Investors Service on Monday downgraded state-owned Bank of India (BoI) and Canara Bank a notch down in terms of Baseline Credit Assessments (BCAs), an indication of intrinsic or standalone financial strength of the company.

Bajaj Allianz launches weather-based crop insurance

Last Updated: Sunday, June 28, 2015, 15:55

Vice president & Head Agriculture Business, Bajaj Allianz Ashish Agarwa said, "The company has identified the need to offer the product in these areas looking at the volumes of the produce and how unfavourable weather conditions had an impact on the produce."

Credit-deposit ratio in Bengal rises by one percent

Last Updated: Saturday, June 27, 2015, 21:20

P. Srinivas, United Bank of India managing director and CEO and SLBC chairman in Bengal, said the agricultural disbursement under the Annual Credit Plan during 2014-15 stood at Rs.23,327 crore, which was an increase of 12.9 percent over last year.

West Bengal credit-deposit ratio rises; still below national average

Last Updated: Saturday, June 27, 2015, 15:43

West Bengal's credit-deposit (C/D) ratio, a key indicator of a state's credit offtake, has inched-up to 68 percent, but was still below the national average of more than 70 percent.

CCI rejects complaint against Standard Chartered Bank

Last Updated: Thursday, June 25, 2015, 22:13

The Competition Commission has rejected allegations of unfair business practices made against Standard Chartered Bank with respect to credit cards and loan facilities offered by it.

Tax benefits for credit, debit card payments welcomed

Last Updated: Tuesday, June 23, 2015, 21:50

"Tax benefits in terms of income tax rebates to be considered to consumers for paying a certain proportion of their expenditure through electronic means," said the draft proposals on which comments have been invited till June 29.

BSNL gets CARE's AAA rating for Rs 8,000 cr long term debt

Last Updated: Tuesday, June 23, 2015, 19:23

BSNL said that it has got its long term loan rated by CARE to comply with the condition of public sector banks.

ITC's investment wing Russell Credit acquires BFIL Finance

Last Updated: Tuesday, June 23, 2015, 17:28

The investment firm has acquired BFIL's entire share capital of Rs 20 crore, the conglomerate said in a filing to BSE. ITC shares today settled 1.37 percent up at Rs 314.55 apiece on the BSE.