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... »
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,... »
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... »
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... »
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
The government today appointed S K Roy as the Chairman of Life Insurance Corporation of India (LIC).The Appointments Committee of the Cabinet (ACC) has already cleared his name. The notific... »
Banks expect rate cuts in July; rule out cut in lending rate
Ruling out the possibility of cutting lending rates after Reserve Bank kept key rates unchanged, bankers today said the central bank decision to hold the rates was on expected lines given the trou... »
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
SBI declares exam results
Magma HDI to launch health cover for rural customers
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... »
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.
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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
Union Bank of India has opened an ATM at Passport Seva Kendra, Karingachira, Ernakulam. It was inaugurated by Sunil Babu, Regional Passport Officer. T.C. John, DGM, Union Bank of India, Ernak... »
FinMin seeks States’ views on financial law reform report
The Centre has written to the State Governments seeking the latter's views on the FSLRC report and the proposed Indian Financial Code, a Finance Ministry official has said.
This is part o... »


