Nokia, the biggest maker of mobile phones in the world, is planning to launch soon its financial and banking services in India under the name ‘Nokia Money.’

Citigroup Inc. revealed its plans to sell its entire majority stake in a Japanese asset management company, Nikko Asset Management, to The Sumitomo Trust and Banking Co Ltd.

Franklin Templeton Investments India launched a new open-end equity fund, the Franklin Build India Fund (FBIF), on July 8, 2009.

Ally Bank will be the new name for the banking unit of GMAC’s banking unit. GMAC has dropped its own name from the banking division GMAC Bank. The name change to Ally Bank comes even as GMAC is creaking under losses of billions of dollars. Reuters reported that the name Ally Bank was chosen because the bank did not want the baggage of a taxpayer-aided bank.

Citibank has launched an online money transfer service for U.S based Indian citizens that will allow the NRIs to directly transfer the money to the beneficiaries’ banks in India.

A CORRESPONDENT State Bank of India (SBI) has announced home loans at the rate 8% for new borrowers. This is the cheapest home loan available in India now. State Bank (SBI) said in a press release that the 8% offer will last for a year. For one year, the interest rate will ...

Insurance major Life Insurance Corporation of India (LIC) has reached an agreement with Corporation Bank to make its entry into the credit cards business in the country. LIC holds a 27 per cent stake in Corporation bank.

Bringing in a tool with enhanced security and aimed at comprehensive expense management, Citi India has unveiled its Citibank Commercial Cards for its corporate clients.