Country's leading credit rating agency ICRA Limited (ICRA) has signed a Memorandum of Understanding (MoU) with Andhra Bank.

Under the arrangement, ICRA will assign Bank Loan ratings to the Bank's loans and its other exposures under the standardized approach of RBI's New Capital Adequacy Framework for Basel-II. 

ICRA's ratings for the standardized approach would be carried out under its "Line of Credit" rating service and would enable Andhra Bank to assign the new risk weights applicable to its borrowers under Basel-II. 

IndusInd Bank, a Mumbai based new generation bank, has signed a co-partner pact with the World Gold Council (WGC) for joint promotion of packaged and certified gold coins and ingots in India. 

The lender stated in a release that, it has introduced sale of imported 24 carat pure Swiss Gold with a view to providing complete financial and investment solutions to its customers and non-customers, under the brand name “Suvarna Mudra. 

The gold coins are available in denominations of 5gm, 10gm and 50gm across all 180 branches of the Bank.

Public sector lender Dena Bank has revealed its plans to launch co-branded credit cards in coming months.

According to sources, Dena Bank's credit card would be launched in association with State Bank of India (SBI).

Besides launching credit cards, Dena Bank also plans to open 26 new branches and 12 retail assets centers during the current fiscal, besides 108 off-site ATMs.

Dena Bank’s net profit for the second quarter ended September 30 grew 11.6% at Rs 102.8 crore over the Rs 92.15 crore in the corresponding period a year ago.

Bratislava - The Slovak parliament Friday voted to provide unlimited guarantees for bank deposits of individuals and select small businesses.

The government proposal passed 130-1, while nine lawmakers abstained.

The amendment requires presidential approval and will come to force upon publication in the country's legal code.

Germany and Austria vowed earlier they also planned to provide unlimited savings protection.

Slovakia currently protects 90 per cent of deposits up to 600,000 Slovak koruny (24,560 dollars).

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Brussels - The trouble with telling a nervous customer that you have solved their problem is that you first have to admit that there is one. That is the dilemma facing the world's banks, governments and financial institutions as they desperately try to restore faith in an economic system which millions of customers now believe has failed.

"We have shown the world that the United States of America will stabilize our financial markets and maintain a leading role in the global economy," US President George W Bush proclaimed on October 3 after the US Congress passed a 700-billion-dollar bank rescue plan.

His words spectacularly failed to restore global confidence, with stock markets nosediving in the days following the vote.