Banking & Finance

Central Bank of India has plans for raising its stake in its housing finance arm Centbank Home Finance.
 
According to Centbank Home Finance, S. Sridhar, chairman and managing director of Central Bank, the bank will be acquiring Special Undertaking of UTI and Urban Development Corp ...

Bank of America Corp, the largest US bank, plans to shrink its network of 6,100 branches by 10%.
 
CEO Kenneth Lewis announced the news to investors last week at a meeting in Charlotte, North Carolina, where the company is based, the report said. The cuts follow two decades of expansion. ...

HDFC Bank, India’s second largest private lender, on Monday reduced its benchmark lending rate by 25 basis points to 15.75 percent.
 
"The benchmark prime lending rate has been reduced to 15.75 percent per annum with effect from July 20," the bank said on its official ...

HDFC Bank, India’s second largest private lender, on Tuesday, announced its Q1 net profit for 2009-2010 which is up by 31% to reach Rs. 606 crore. The Q1 net profit in 2008-09 fiscal was Rs. 464.35 crore.
 
The bank's net income for the period under review grew 21.86% to Rs.5,136.75 ...

According to the Union Finance Minister, Pranab Mukherjee, more importance will be given to price stability as the prices of essential items as well as food grains have gone up in a rapid manner in the past few days. 


"The government monitors the price situation regularly, with price ...