Money & Banking

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‘RBI steps on MFI loans likely to provide liquidity’

The government said on Tuesday that the RBI measures to restructure bank loans to MFIs are likely to impart liquidity support to these institutions.

MetLife in talks with PSU banks for equity sale

As part of its business growth plans, private insurer, MetLife India, has begun talks with at least three PSU banks for sale of up to 10 per cent ...

World Bank pegs India's growth around 9%

Terming India’s economic recovery as “robust”, the World Bank on Tuesday projected the Indian economy to grow by about 8.5—9 per cent in the current ...

IDBI Federal Life expects 70% growth

IDBI Federal Life Insurance said on Tuesday that it expects about 70 per cent growth in its total premium income during the current fiscal. “Last year ...

SIDBI to launch Rs 1,000 cr venture capital fund

SIDBI said on Tuesday that it plans to launch a Rs 1,000 crore venture capital (VC) fund, aiming at the high growth industries. “We are going to ...

Forex rates

Cutting short the three-session rising trend, the rupee on Tuesday fell sharply by 28 paise against the US currency on heavy dollar demand from ...

Call rates at 6.75-6.8%

The one-day inter-bank call rate ended at 6.75/8 per cent against 6.75/6.85 per cent on Monday. “This is the second week of the reporting fortnight.

Rupee weakens against dollar

Cutting short the three-session rising trend, the rupee on Tuesday fell sharply by 28 paise against the US currency on heavy dollar demand from ...

IDFC to raise Rs 2,000 cr via bonds

Infrastructure Development Finance Company Ltd will be raising up to Rs 2,172 crore through public issue of long-term infrastructure bonds of face ...

Karnataka Bank hikes PLR, base rate

Karnataka Bank Ltd has increased the prime lending rate (PLR) and base rate by 50 basis points and 75 basis points, respectively, with effect from ...

Residents cannot trade in forex, RBI clarifies

Indian residents cannot trade in foreign exchange in domestic or overseas markets, under the Foreign Exchange Management Act (FEMA), clarified the ...

Eyeing India with ‘simple and transparent products'

Madrid headquartered financial services group BBVA (Banco Bilbao Vizcaya Argentaria) had acquired a 51 per cent stake in Bank of Baroda's credit ...

Insurance cover against loan

While granting personal loans against credit cards to the complainant, the bank issued four insurance certificates, which clearly indicated that the ...

Call rates close slightly lower

The interbank call rate closed slightly lower at 6.65-6.75 per cent against the previous close of 6.75-6.85 per cent. In the first one-day auction ...

Panel asks banks in AP to give revolving credit to SHGs

The move will ‘protect people' from MFIs

IBMC group opens regional office in Kozhikode

The Investment Business Management Centre (IBMC) group, specialising in financial services for non-resident Indians (NRIs), has opened its Malabar ...

Canara Bank opens new branches

Canara Bank has opened 35 branches all over the country on Monday, an official spokesman announced here. The Thiruvananthapuram Circle of the bank ...

BoI opens more branches in Visakhapatnam

The Bank of India is setting up 22 more branches in Visakhapatnam zone besides a processing centre in the city for advancing loans to small and ...

SBI becomes signatory investor to Carbon Disclosure Project

State Bank of India said on Monday that it has become a signatory investor to the Carbon Disclosure Project (CDP), a global initiative for sustainable ...

Rupee rises against dollar

The rupee was ended up by 22 paise at 44.98 per US dollar on Monday evening on sustained dollar-selling by exporters and corporates amid weakness of ...

Forex rates

Rupee gains on dollar selling The rupee gained by 20 paisa from its previous close as a large oil company was seen selling dollars, and on ...

Call rates at 6.9-7%

The inter-bank call money market opened the session on Monday at 6.9-7 per cent against the previous close of 6.75-6.8 per cent. At 9.10 a.m., the ...

$12-m incentive for top Citi officials to keep profits coming

As many as four of Citigroup's top executives will receive nearly $12 million in cash if the bank's core operations earn a total of $12 billion over ...

For-profit MFIs are loan sharks, says Yunus

Muhammad Yunus, the Bangladeshi Nobel laureate who revolutionised the micro-credit sector in his country, has opined that profit-oriented MFIs should ...

We've benefited from foreign banks vacating infra lending space: YES Bank Deputy CFO

In my opinion, the new order of banking would be plain banking. We actually are not in the camp of doing multiple things under the banking umbrella. — Mr Jaideep Iyer

Public sector banks may miss micro credit target

With just over a month for the closure of the current financial year, public sector banks may fail to meet the 50 per cent loan target to the micro ...

Basel-III norms to be fully implemented within agreed timeline

G20 Finance Ministers have agreed to implement fully the Basel-III norms within the agreed timeline. Basel-III standards written by the Bank of ...

Banks’ margins likely to shrink in 2011

The net interest margins of Indian banks are expected to shrink in 2011, despite an estimated growth of 20—22 per cent in loans, due to a rise in ...

HDFC Bank looking at 3G services to boost mobile banking

HDFC Bank aims to increase the number of clients using its mobile banking services in Andhra Pradesh to 10 per cent of its customer base once 3G ...

‘Profit oriented MFIs are loan sharks’

Mr Muhammad Yunus, the Bangladeshi Nobel laureate who revolutionised the micro credit sector in his country, has opined that profit oriented MFIs like ...

Time not ideal for savings rate deregulation: HDFC Bank

Banks have no objection to savings rate deregulation per se, but feel the timing could be better as the prevailing monetary situation is not conducive ...

KFW earmarks €800mn for renewable energy projects

German government owned development bank KfW plans to lend €800 million in the 2011-12 calendar year to finance various renewable energy projects in ...