New Delhi: German multinational Deutsche Bank is looking to expand its footmark across major cities in India.

The bank has applied for authorization with the Reserve Bank of India for opening up five more branches in the country.

According to WTO obligations, RBI permits foreign banking institutions to open maximum of 20 branches a year.

The source said, “The bank has done exceedingly well since its re-entry into India two years back. To provide the much-needed visibility to their banking operations, it has applied for license with the RBI to open five more branches in India.”

The Indian Rupee remained firm against the US Dollar on Sep. 14, 2007.

To leverage its record for loan syndication and technology, Chennai-based Indian Overseas Bank (IOB) is thinking about a coalition with other banking institutions.

SA Bhat, chairman and managing director, said, “I have approached some banks but it is still in the formation stage. We are looking at banks with a business size of Rs 50,000-1,00,000 crore with reach in states like Gujarat and Maharashtra where we don't have that many branches.”

Chennai: Aming to swell its functioning in India as well as overseas, Ninestars Information Technologies Ltd, a content transformation and e-archival technology and services provider, has planned t

Shenzhen (China): ZTE is making exploratory survey for Indian partners in order to start research and development in broadband and internet protocol TV (IPTV) products.

Mumbai: Satyam Computer Services Ltd is concentrating on mounting its earnings from European as well as Asian markets, and is looking at developing both geographically plus through acquirements. Rising verticals including energy and utilities, retail, media and entertainment and travel, transport & logistics will be its key growth drivers in the worldwide foray.