Private sector lender IndusInd Bank is looking to acquire a bank in the next two years, a top official told NDTV Profit channel on Thursday. "We need to bulk up before the market is thrown open in 2009 or sometime beyond," Bhaskar Ghose, managing director and CEO, told the television channel. India's central bank has said it would review foreign ownership in Indian banks after 2009. "We would typically look at banks with a relatively higher CASA (current account and savings accounts) ratio," he said refering to higher low-cost deposits. (Sify)   more »

Notz Stucki, one of the largest asset managers in Europe, has joined the race for ICICI Venture's 63% stake in Infomedia (formerly Tata Infomedia). Private equity funds such as General Atlantic, Blackstone and Warburg Pincus have also shown interest to buy out ICICI Venture's stake in the media firm. Infomedia publishes the popular business directory Yellow Pages and some well-known niche magazines. When contacted, Anil Singhvi, managing director Notz Stucki India, declined to comment. Sources said Yes Bank is advising Infomedia on the deal. The buyer of ICICI Venture's stake will have to make an open offer, and shell out upwards of Rs 400 crore. On Thursday, Infomedia’s shares closed at Rs 233.90 on BSE, taking the market capitalisation to Rs 461crore.   more »

Domestic venture capital company - RE Capital India Fund has now identified resorts as part of its development ventures. Ishan Singh, managing director of the company informed Express Hospitality that the company has already invested in two properties and is looking to invest more in the future. He said, "We have zeroed in for a property in Sona, Haryana which will be operated as a resort property. The 15 acre resort property is within an IT SEZ zone and is going to have 60 rooms in all."   more »