World Bank president says he opposes giving more authority to Federal Reserve

September 30th, 2009 Bernanke asks Congress to empower regulatorsWASHINGTON — Federal Reserve Chairman Ben Bernanke says federal regulators should be responsible for ensuring that the financial institutions they oversee don't become so big and unwieldy that their failure could bring down the economy. In testimony prepared for a House hearing on Thursday, obtained in advance by The Associated Press, Bernanke said Congress should establish a council of regulators to monitor large, influential firms like insurance giant AIG.

September 10th, 2009 Obama to give speech Monday on financial crisisWASHINGTON — President Barack Obama is delivering a speech on Wall Street Monday, exactly one year after the Lehman Brothers investment bank collapsed, precipitating the financial crisis felt around the world. The White House said Thursday that Obama will discuss steps the administration has taken to ease the crisis, its commitment to reduce government involvement in the financial sector and actions the U.S.

September 2nd, 2009 WASHINGTON - The US Federal Reserve sees an end to the economic crisis in the second half of the year even as problems are expected to remain on the job market, according to minutes of the central bank's last meeting released Wednesday. Still the majority of the central bankers said at the Aug 11-12 meeting that they expected recovery to be slow and stressed that the economy was "still vulnerable to adverse shocks".

August 28th, 2009 NEW DELHI - The Reserve Bank of India (RBI) has predicted six per cent growth in Real Gross Domestic Product in the current fiscal despite a weak monsoon. In its annual report, the RBI said economic impact of the drought would not be bad.

August 25th, 2009 Obama expected to renominate BernankeWASHINGTON — President Barack Obama is taking a break from his Martha's Vineyard vacation today to offer Federal Reserve Chairman Ben Bernanke another four-year-stint at running the central bank. A senior administration official says Obama plans to make the announcement Tuesday morning.

August 13th, 2009 Pentagon, governors face off over military reserveWASHINGTON — The Pentagon is upsetting the nation's governors by pushing for authority to call up military reservists for natural disasters — and to control how the troops would be used in any state. "Control" is the key word.

August 11th, 2009 NEW DELHI - Cautioning the loan seekers to be wary of dubious entities, the Reserve Bank of India (RBI) on Tuesday asked public to verify the credentials of loan providers before dealing with them. Several loan-related entities lure people by issuing advertisements in newspapers offering personal loans, loans against property and other loans, at a very low rate of interest, the central bank noted.

July 23rd, 2009 Administration unveils financial overhaul billWASHINGTON — The Obama administration on Wednesday sent Congress legislation that would make the Federal Reserve the financial system's top cop, an effort designed to avoid a repeat of last year's crisis when troubles at a handful of major firms threatened the entire economy. Designating the Fed as a systemic risk regulator was included in a package of draft legislation that also would establish a new Financial Services Oversight Council to boost coordination among regulators and a plan to raise capital requirements for financial institutions.

July 17th, 2009 HK names leader's aide to head central bankHONG KONG — An aide to Hong Kong's leader and former bank executive was Friday named to head the territory's central bank as the Chinese financial center emerges from the economic crisis. Norman Chan, 55, will lead the Hong Kong Monetary Authority starting in October, replacing the bank's current chief executive, Joseph Yam, who announced his resignation in May.

July 16th, 2009 Paulson says he threatened bank chief executiveWASHINGTON — Former Treasury Secretary Henry Paulson says he was justified last year in suggesting that Bank of America Corp.'s chief executive could lose his job if the bank backed out on plans to buy troubled Merrill Lynch. His admission, included in written testimony for a House hearing Thursday, comes as Congress debates the government's role in managing financial firms that accept billions of dollars in aid.

July 16th, 2009 Paulson says he pressured Bank of America CEOWASHINGTON — Former Treasury Secretary Henry Paulson testified on Thursday that he pressured Bank of America Corp. last year to go through with its plans to buy Merrill Lynch but didn't tell the bank's chief to hide potential losses from shareholders.

July 9th, 2009 Fed official questioned on systemic regulator roleWASHINGTON — With many lawmakers wary of giving the Federal Reserve more power under a proposed financial overhaul, the Fed's No. 2 official on Thursday defended the central bank's ability to take on more oversight responsibilities.

June 19th, 2009 MUMBAI - The board of State Bank of India (SBI) has approved the acquisition of associate State Bank of Indore, the country's largest lender said Friday. "SBI has informed BSE (Bombay Stock Exchange) that the central board of the bank at its meeting held on June 19, has approved a proposal for acquisition of State Bank of Indore by State Bank of India, subject to approval by the Reserve Bank of India and the government of India," SBI said in a regulatory statement.

June 6th, 2009 Treasury, key lawmaker differ on risk overseerWASHINGTON — The Obama administration and House Financial Services Committee Chairman Barney Frank are at odds over how the government can best spot potential institutional meltdowns that could spread and put the nation's financial system at risk. The differences between Treasury Secretary Timothy Geithner and Frank, a key and influential congressional voice on banking, come as the administration prepares to send Congress a package of proposed regulatory changes designed to avert the crisis that struck the financial sector last year.

April 20th, 2009 MUMBAI - The Reserve Bank of India (RBI) will present the annual review of its monetary policy here Tuesday, even as stakeholders saw the central bank leaving key rates untouched and an overall status quo on the measures. RBI Governor D.