London  - Spanish banking giant Santander is to axe 1,900 jobs in its businesses in Britain next year, the company announced Friday.

New Delhi, Dec 12 : India will get 14 billion dollars from the World Bank over the next three years to facilitate infrastructure development projects and to achieve the Millennium Development Goals.

The World Bank Group’s new Country Strategy for India, discussed by the Institution’s board, envisages a total proposed lending program of 14 billion dollars for the next three years, the World Bank said in a statement.

The bulk loan offered to India is for developing its infrastructure projects and to achieve the Millennium Development Goals.

London - Ailing British lender Halifax Bank of Scotland (HBOS) Friday reported an increase in write-downs to 8 billion pounds (12 billion dollars) for the first 11 months of 2008.

The news sent shockwaves through the banking sector, causing HBOS shares to plummet by 16 per cent on the London stock market. Shares of Lloyds TSB, which is in the process of taking over HBOS, fell by 17 per cent.

The scale of the write-downs, coupled with a warning of more to come, was revealed as shareholders were due to vote Friday on the mammoth merger.

Amas Bank (Switzerland) Ltd has acquired 40 per cent stake in PATCO Investments & Consultancy Services Private Ltd. for an undisclosed amount. PATERSON is a Chennai-based stock broking firm, while Amas Bank is a global banking entity of the trans-national Hinduja Group, founded in 1978 as a finance company and granted banking license in 1994. Amas Bank is headquartered in Geneva, having offices in Zurich, Lucerne, Basle, St. Margrethen, Dubai, London, Paris, New York and Mauritius.

Home loan interest rates are all set to be cheaper as all public sector banks are planning to cut rates on small-ticket home loans by up to 300 basis points. RBI may also help the banks by relaxing the risk weight age norms. It is expected to revise the capital adequacy ratio (CAR) for every loan, which is currently 9 per cent.

Washington  - Bank of America Corp, the third-largest US bank, said Thursday it planned to eliminate between 30,000 to 35,000 jobs over the next three years because of the weak economic environment and its acquisition of Merrill Lynch.

The final number of jobs to be cut is to be determined early next year, said the Charlotte, North Carolina-based bank, which will be the country's largest financial services firm when the deal with Merrill Lynch closes over the next few weeks.