Reykjavik - Iceland's central bank lowered its key interest rate on Wednesday from 15.5 to 12 per cent, bending to increasing public pressure for a cut to ease the North Atlantic island's financial woes.
The central bank, or Sedlabanki, on Tuesday drew on swap facilities with Denmark and Norway, borrowing some 200 million euros (273 million dollars) from each.
Meanwhile negotiations with government officials in Moscow are ongoing over a Russian loan to Iceland of some 400 billion euros. Following the nationalization of Iceland's three largest banks last week, lack of funds to industry and commerce has become a pressing issue.
The reserve bank is likely to take more steps to increase liquidity in the market. The bank expressed satisfaction on the Indian market conditions. The reserve bank governor, D Subbarao apprised the government about the Indian financial conditions. He met Prime Minster Manmohan Singh and finance minister P Chidambaram on Tuesday to discuss financial matters. Planning Commission deputy chairperson, Montek Singh Ahluwalia and finance secretary, Arun Ramanathan were also present during the meeting at PM residence.
ICICI Bank, Country's third largest lender and British Airways have jointly launched a co-branded credit card called 'ICICI Bank British Airways American Express Credit Card' in the market. 
Allahabad Bank has signed a MOU with one of the country’s leading Life Insurance Companies Kotak Mahindra Old Mutual Life Insurance Ltd., for providing value-added service and financial security to the educational loan borrowers of the Bank.
New Delhi, Oct 15 : The Reserve Bank of India has further cut by one percent, the amount of mandatory cash that banks need to park with it - a move that would unlock Rs 40,000 crore into the financial system and pave the way for lower lending rates.
New York - Wells Fargo & Co., the bank in the limelight in the acquisition of Wachovia Corp., reported Wednesday that it achieved 1.64 billion dollars in net income in the third-quarter.
