Reserve Bank Chairman D Subbarao said that RBI is monitoring the liquidity situation on regular basis and will take more steps to improve liquidity conditions in the financial system. He attended a meeting with finance minister P Chidambaram to discuss market conditions and liquidity situation. The meeting was also attended by ICICI Bank CEO, KV Kamath and union Commerce Minister, Kamal Nath.
Dhabi, 19 Nov. 2008 - Abu Dhabi, UAE: Following ESCA approval received on 05 November, First Gulf Bank (FGB) Board of Directors decided to initiate the Share Buyback program for up to 10% of the Bank's shares issued and traded in the market.
In its ongoing struggle to steady itself after suffering massive losses from deteriorating debt, the New York-based banking giant, Citigroup Inc., announced Monday that it would cut another 24,000 jobs, bringing its total reductions to 52,000 in the coming months.
CEO Vikram Pandit discussed the plans - posted on the company’s web site – with the employees at the company’s town hall meeting in New York. The move comes after the company posted four straight quarterly losses, including a loss of $2.8 billion during the third quarter.
State Bank of India is likely to hire 25,000 persons by the end of March. SBI is the top lender of the country, having big network of branches and ATMs across almost all the towns of the country. SBI has presence in other countries as well.
CII President and ICICI Bank CEO, K V Kamath, demanded more measures to improve liquidity conditions in the monetary system of the country. He said that inflation rate is continuously coming down and financial institutions can expect more injection of credit in next policy review of the Reserve Bank.
New York - Bank of America Corp said Monday it would almost double its stake in China Construction Bank Corp, ending speculation that it would dump its investment as a result of the widening global financial crisis.
Bank of America is increasing its stake to 19.1 per cent, or 44.7 billion shares, from 10.8 per cent. The shares can't be sold until August 29, 2011, without the Chinese bank's consent.
Reserve Bank Chairman D Subbarao said that RBI is monitoring the liquidity situation on regular basis and will take more steps to improve liquidity conditions in the financial system. He attended a meeting with finance minister P Chidambaram to discuss market conditions and liquidity situation. The meeting was also attended by ICICI Bank CEO, KV Kamath and union Commerce Minister, Kamal Nath.
Dhabi, 19 Nov. 2008 - Abu Dhabi, UAE: Following ESCA approval received on 05 November, First Gulf Bank (FGB) Board of Directors decided to initiate the Share Buyback program for up to 10% of the Bank's shares issued and traded in the market.
In its ongoing struggle to steady itself after suffering massive losses from deteriorating debt, the New York-based banking giant, Citigroup Inc., announced Monday that it would cut another 24,000 jobs, bringing its total reductions to 52,000 in the coming months. 
State Bank of India is likely to hire 25,000 persons by the end of March. SBI is the top lender of the country, having big network of branches and ATMs across almost all the towns of the country. SBI has presence in other countries as well.
CII President and ICICI Bank CEO, K V Kamath, demanded more measures to improve liquidity conditions in the monetary system of the country. He said that inflation rate is continuously coming down and financial institutions can expect more injection of credit in next policy review of the Reserve Bank.
New York - Bank of America Corp said Monday it would almost double its stake in China Construction Bank Corp, ending speculation that it would dump its investment as a result of the widening global financial crisis.
