Finance Minister P. Chidambaram, along with S. K. Goel, CMD, India Infrastructure Finance Company Ltd, during the launch of the Infrastructure Debt Fund scheme of IIFCL Mutual Fund in the Capital on Tuesday. — Kamal Narang
SIDBI FY13 net up 48% on better loan growth
Helped by a one-time tax-related gain and higher disbursal, Small Industries Development Bank of India (SIDBI) has posted a 48 per cent increase in its full-year profit to Rs 837 crore.
T... »
Rupee remains under pressure
The rupee strengthened slightly after hitting the record low at 58.98 against the greenback last Tuesday. Wholesale Price Inflation reading for May at 4.7 per cent and Fitch upgrading Indi... »
Grameen Bank’s proposed split sparks criticism
A Bangladeshi commission has proposed the Government takeover or split the Nobel-award-winning Grameen Bank into 19 parts, sparking criticism with several analysts fearing it to be a systematic mo... »
QE jitters overdone
The market has suddenly taken fright that even in the ‘modest’ and ‘moderate’ growth and jobs environment, the US Fed will start reversing quantitative easing. »
Banking
Karvy Capital launches first hedge fund
Karvy Capital, the asset management arm of financial services provider Karvy Group, today launched first hedge fund named ‘Systematic Edge Fund’.
According to the company, this fund is an... »
Banking
RBI eases rules for forex option premium payment
The Reserve Bank today relaxed premium payment rules for banks on some forex options by allowing the buyer of such instruments to spread the payment over the maturity of the contract.
Thi... »
Banking
Kotak Bank looking at ‘affluent’ customers to drive growth
Mumbai-headquartered Kotak Mahindra Bank aims to widen its “affluent customer” base to boost growth. Customers having investments in excess of Rs 25 lakh are described as ‘affluent’. The... »
Banking
`No logic for FIIs to invest in debt as hedging costs dearer’
The economic logic for foreign funds to invest in domestic debt instruments is withering away as yield differentials are narrowing fast, owing to a steep fall in the rupee, said a senior SBI offic... »
Banking
Religare promoters to sell 22.75% stake to meet banking rules
The promoter group will shed 22.75 per cent in Religare Enterprises Ltd (REL) to be eligible to apply for a banking licence.
At today’s market price, the 22.75 per cent stake is worth abo... »
Axis Bank opens branch in rural Punjab
Axis Bank, India’s third largest private sector bank, has opened its 2,000th branch at Ahmedgarh in rural Punjab.
Shikha Sharma, MD and CEO, Axis Bank, said: “We have been one... »
Exim Bank gets licence to open representative office in Myanmar
Export-Import Bank of India (Exim Bank) has received a banking licence to open a representative office at Yangon in Myanmar.
Exim Bank has extended seven lines of credit (LoCs) wort... »
Amex card for the middle-income youth
American Express is aiming to woo the upwardly mobile and socially connected Indian consumers with a tailor-made credit card. For this, the global services company has la... »
IDFC to apply for bank licence
The IDFC board has approved a resolution for making an application to the Reserve Bank of India for obtaining banking licence, based on the Guidelines for Licensing of New Banks in the Pri... »
Karvy Capital launches first hedge fund
Karvy Capital, the asset management arm of financial services provider Karvy Group, today launched first hedge fund named ‘Systematic Edge Fund’.
According to the company, this fund is an... »
Religare promoters to sell 22.75% stake to meet banking rules
The promoter group will shed 22.75 per cent in Religare Enterprises Ltd (REL) to be eligible to apply for a banking licence.
At today’s market price, the 22.75 per cent stake is worth abo... »
Kotak Bank looking at ‘affluent’ customers to drive growth
Mumbai-headquartered Kotak Mahindra Bank aims to widen its “affluent customer” base to boost growth. Customers having investments in excess of Rs 25 lakh are described as ‘affluent’. The... »
Rupee skids on high import demand
The rupee closed weaker at 57.87 against the dollar on high demand for the American currency from oil importers and some corporates. The rupee opened 18 paise lower at 57.71 from t... »
Banks may face cost, liquidity pressure
For once, the RBI’s credit policy did not disappoint the markets. With RBI Governor D. Subbarao already dropping several hints about the difficulty of cutting interest rates in this poli... »
RBI flags food inflation, current account deficit concerns
Even as it kept the policy rates unchanged, the central bank cautioned that high food inflation, particularly in respect of cereals and vegetables, could exert upside pressure on t... »
S K Roy appointed as LIC Chairman
Banks expect rate cuts in July; rule out cut in lending rate
Dena Bank to set up 13 more branches in East, North-East
RBI hits the pause button on inflation worry, weak Re
RBI may not cut rates; limited scope for banks to pass on benefits
Private banks score over public sector peers in 2012-13
SBI eyes Rs 1,500 cr net from domestic treasury operations
Dena Bank plans to spread wings overseas
RBI ED Bhaskar, IAS officer Krishnan join FPSB Board
The Financial Planning Standards Board India (FPSB) today appointed IAS officer K P Krishnan and Reserve Bank executive director P Vijaya Bhaskar on its board of directors.
The city-based... »
Indian firm enters Nigeria’s mobile money sector
An Indian firm has entered into a partnership with a Nigerian company to introduce a platform meant to drive mobile money services in this oil rich African country.
Chief Executive Office... »
A Naturals pact with IOB to fund salons
Groom India Salon & Spa Pvt Ltd, that owns the salon chain brand Naturals, has signed a pact with Indian Overseas Bank to promote women entrepreneurship in the country. ... »
`No logic for FIIs to invest in debt as hedging costs dearer’
The economic logic for foreign funds to invest in domestic debt instruments is withering away as yield differentials are narrowing fast, owing to a steep fall in the rupee, said a senior SBI offic... »
ICICI Bank raises $106 m in Chinese bond market
India’s largest private sector lender, ICICI Bank, on Tuesday raised Chinese Yuan (Renminbi) 650 million ($106 million) via bonds of three years maturity.
The coupon rate on these bonds,... »
RBI eases rules for forex option premium payment
The Reserve Bank today relaxed premium payment rules for banks on some forex options by allowing the buyer of such instruments to spread the payment over the maturity of the contract.
Thi... »
Jones Lang LaSalle closes first round of realty fund
Jones Lang LaSalle’s Segregated Funds Group today announced the first closing of its maiden real estate fund in India, Residential Opportunities Fund – I (ROF – I). The group raised Rs 1... »
Policy status quo will hit economy, says Credai
The Confederation of Real Estate Developers’ Association of India said the RBI’s stance of keeping key rates at existing levels would lead to economic slowdown.Lalit Kumar, Chairma... »
Deposit, lending rate cuts unlikely, say bankers
There is little room for banks to cut either deposit or lending rates as the Reserve Bank of India left key policy rates unchanged in its mid-quarter review of monetary policy.
»
SBI training institute coming at Rajarhat
State Bank of India (SBI) has laid the foundation stone for its sixth apex training institute at Rajarhat in the eastern fringes of Kolkata. Christened the State Bank Institute of Manage... »
Union Bank ATM at Ernakulam
FinMin seeks States’ views on financial law reform report
Highlights of RBI’s mid-quarter monetary policy review
Rupee fall could sway RBI’s rate call
Is there need for CAG audit of RBI accounts?
As business grows, banks allowed to create more GM posts
Shriram Life eyeing Rs 500-cr biz from group insurance
Forex
Mecklai Midday report for June 19
Rupee’s sudden slide creating panic in biz, policy circles: Expert
Alpari Curency Daily report for June 19
Alpari Technical report for June 18
Mecklai Midday report for June 18
Alpari Currency Daily report for June 18
Re ends at all-time low of 58.77 ahead of Fed meet
Mecklai Midday report for June 17
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Columnists
Aarati Krishnan
Ashoak Upadhyay
B. S. Raghavan
C. Gopinath
C.P. Chandrasekhar and Jayati Ghosh
D. Sampathkumar
G. Chandrashekhar
G. Parthasarathy
Gnanasekaar T
K. Kanagasabapathy
Mohan Murti
Narendar Pani
Rasheeda Bhagat
R Srinivasan
S. Murlidharan
T. C. A. Srinivasa Raghavan
Thomas K Thomas
Vidya Ram
Forex - Rupee vs Dollar
SBI declares results of written exam for officer posts
Engineers, MBAs join up as assistants in SBI
Jones Lang LaSalle closes first round of realty fund
ICICI Bank raises $106 m in Chinese bond market
RBI hits the pause button on inflation worry, weak Re
Exchange Rates
RBI flags food inflation, current account deficit concerns
Kotak Bank looking at ‘affluent’ customers to drive growth
Policy status quo will hit economy, says Credai
IDFC to apply for bank licence
