SBI Card & Payments Services Ltd, the credit card subsidiary of State Bank of India (SBI), plans to raise about 80 billion Indian rupees ($1.12 billion) via an initial public offering this year, a senior SBI executive involved in the process said.

SBI's credit card business aims to raise $1.1 billion via IPO: Report

UBS Group AG and Deutsche Bank AG held talks about combining their businesses earlier this year, including discussions in mid-June about an investment banking alliance, the Wall Street Journal reported on Sunday.

UBS, Deutsche held talks on investment banking alliance: Report

Royal Bank of Scotland will name Alison Rose as chief executive in coming weeks, succeeding Ross McEwan, Sky News reported on Saturday. Rose, who runs RBS's commercial arm, is considered the preferred candidate to succeed Ross McEwan, though chairman Howard Davies said in April the bank would also consider external candidates.

RBS to appoint Alison Rose as CEO in coming weeks: Report

In a country that is diverse and divided by culture and socio-economic barriers, financial inclusion is a challenge. Given the fact that boundaries are blurring, and consumer spending is on the rise, Indian masses are growing aspirational and moving to greener pastures for improving their lives.

Financial literacy enables poorest to follow their dreams

ICICI Bank Ltd, India`s second-largest private lender, reported a quarterly profit on Saturday compared with a loss a year earlier, helped by lower provisions and higher retail loan growth.

Lower provisions help ICICI bank swing to first-quarter profit

The Central Bureau of Investigation (CBI) on Tuesday launched a special search operation in connection with alleged bank fraud cases involving Rs 640 crore of siphoned funds.

CBI launches special operation against banking frauds; searches underway

Further opening of banking and insurance sectors for FDI, speeding up disinvestment process and management of water resources were among the focus areas of Prime Minister Narendra Modi's interaction with economists and industry experts on Saturday to achieve higher economic growth, said sources.

PM-economists meet: 'Single-minded pursuit' for growth, FDI in banking, divestment discussed

Market benchmark Sensex soared almost 580 points to end at a one-month high of 35,011.65 Friday, propelled by financials and auto stocks, amid cooling global crude prices, rising rupee and a fresh flow of foreign funds.

Sensex climbs 580 points to reclaim 35,000-mark; banking, auto shares steal the show

India's Infrastructure Leasing & Financial Services (IL&FS), a debt-laden infrastructure financing and construction company, will consider all available options to revive the firm, its new non-executive chairman said on Thursday.

New board to consider all options to revive IL&FS

Finance Minister Arun Jaitley Thursday said the government is determined to contain the crisis at the IL&FS at the earliest so that it does not leave any adverse impact.

Government determined to contain IL&FS crisis so that there is no adverse impact: Jaitley

India's move to take control of debt-laden Infrastructure Leasing and Financial Services (IL&FS) will only succeed if lenders agree to take substantial losses, government sources familiar with the discussions told Reuters.

India's rescue of debt-ridden IL&FS may spell major losses for lenders: Sources

India on Monday took control of Infrastructure Leasing and Financial Services (IL&FS), in a rare move that it said was needed to protect the country's financial system and markets from potential collapse.

Government takes control of infrastructure group IL&FS to stem contagion

On NSE, Nifty PSU Bank Index was down 2.95%. Mahindra, Bharti Airtel, Infosys and TCS were top gainers, whereas ICICI Bank, SBI, IndusInd Bank and Yes Bank were among the major losers.

Sensex slips below 35,000, Nifty settles at 10,633 due to banking stocks

Banks will have to make provisioning of Rs 8,000 crore for Gitanjali alone as there has been no servicing of the working capital loan during the fourth quarter of last fiscal, sources said

Bank 'bad loans' in India to rise by at least Rs 8,000 crore in Q4

New RBI rules are stoking the banks' fears that the worst of the soured-loans buildup is yet to come

For India's banks, worst of their bad-loan troubles may be still to come

Among major losers, private banks Kotak Bank, IndusInd Bank Yes bank, Axis Bank, ICICI Bank and HDFC Bank fell up to 2.9 per cent.

Budget aftermath: Sensex drops 324 points, Nifty below 11,000 on LTCG jitters

The NSE Nifty was up by 43.30 points or 0.41 per cent to 10.485.50

Sensex rises 158 points in early trade

The big gainers that supported the Sensex include ONGC, NTPC, Coal India, Dr Reddy's, HDFC Bank, IndusInd Bank, and Bharti Airtel, rising by up to 1.87 per cent

Sensex, Nifty flat in early trade; auto, banking shares retreat

The demonetisation drive has made the banking sector healthier but failed to curb 'black money'

India's demonetisation drive has boosted banks and start-ups, but it's still a failure

A look at how demonetisation has affected the Indian economy as a whole

Demonetisation: 15 key points

Banks in the US and Britain have paid billions for their handling of subprime mortage loans but no senior execs from there have gone to jail

Ireland jails three top bankers over 2008 banking meltdown

Information technology, banking and tourism firms bagged a total of $3.1 billion fund in the first three months of 2016

India attracted $3.1 billion worth private equity investment from January to March: PwC

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