India

The lender joined its rivals in the move after the city received complaints from 64 card users.

Bank of Maharashtra announced its net profit for the second quarter is up by 92 per cent at Rs 100.42 crore compared from Rs 52.3 crore in the same period last year.

Union Bank of India reported a net profit of Rs.352.5 crore for the quarter ended Sep 30, 2011, increasing by 16.2 percent from Rs.303.4 crore of the same period of the previous financial year.

The move to impact banks which had expressed interest to float either insurance or asset management businesses.

The Indian bank to offering its 3rd credit card to 20,000 additional new customers per month.

Mr. Chalisgaonkar was picked to manage the lender’s SME business in India, which has a client base of more than 52,000.

The German development finance institution DEG has provided a loan of US$ 30 million repayable over eight years to DFCC Bank, Sri Lanka’s pioneer development bank.

The lender believes the move will make it uncompetitive.

Union Bank KBC has also launched a series of investor awareness programmes for mutual fund investors.

The lender doubled also extended 25 bps concessional home loans up to December.

The tie-up to cover securities activities such as equity and debt capital markets services, advisory services, private equity transactions, and wealth management.

The lender keen to execute the plan in a cautious and calibrated way despite plunge in profit.

Despite series of diminished profit in the previous quarters, the lender hopes to get $519.92mn second quarter profit.

The booming bilateral trade between India and Australia opens door to the lender’s entry in Sydney.

Indian government seen to allow foreign insurers to raise their stakes.

DBS expects RBI to raise policy rates to 8.5% by December 2011.