| Business Standard: Banking & Finance News |
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RBI rolls out HR reforms: Winds of change are blowing across Mumbais Mint Road.
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SBI extends teaser rates till June: The countrys largest public sector lender, State Bank of India (SBI), has extended its special home loan scheme, popularly known as teaser rates, by two months even as the two largest private lenders, ICICI Bank and Housing Development Finance Corporation (HDFC), decided to let their similar schemes lapse.
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Sebi drops legal option on Ulips: Irda may approach government again.
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Well-behaved borrowers may pay less for loans: Banks consider dynamic lending rate system based on credit history.
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HDFC Q4 net up 32%: Aided by strong growth in interest income, the countrys second-largest private lender, HDFC Bank, today reported a 32.6 per cent increase in net profit to Rs 836.6 crore for the quarter ended March 31, 2010, compared to Rs 630.9 crore a year ago.
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ICICI Bank net profit soars 79% on tighter operations: ICICI Bank today said its consolidated net profit rose 79.27 per cent to Rs 1,341.80 crore during the quarter ended March 2010, compared to Rs 748.44 crore a year ago. The banks performance was boosted by an increase in non-interest income, lower operating expenses, lower provisions for non-performing assets and a strong show by its insurance, asset management and securities arms.
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Key rates raised by 25 bps: In a bid to tackle rising inflation, the Reserve Bank of India (RBI) today raised policy rates for the second time in as many months and also announced an increase in the cash reserve ratio (CRR) to squeeze out excess liquidity from the system.
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Managing inflation to be policy focus: RBI: In the Macroeconomic and Monetary Developments in 2009-10, RBI said the growth outlook for the economy remains positive in the near term, though recovery in private demand needs to be stronger.
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End of an innings for Tharoor: Minister of State for External Affairs Shashi Tharoors 11-month innings in the government came to an end on Sunday.
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NRI investments to be made tougher: The government plans to tighten investment norms for non-resident Indians (NRI) in companies to ensure that they do not violate foreign direct investment (FDI) sectoral caps or enter areas where such investment is banned.
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Lehman 'blocks' on Dalal Street: Institutional desks of many brokerages in India are in the process of selling about Rs 2,000 crore worth of equity holding of bankrupt US investment bank Lehman Brothers Inc in some Indian companies.
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FinMin for tighter FDI control: Favours check on downstream investments by firms with minority foreign shareholding.
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Union Bank ups term deposit rates 25-50 points: State-owned Union Bank of India will raise retail term deposit rates by 25 to 50 basis points with effect from Monday, the bank said on Saturday.
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Corporate loan recast norms made tougher: With the economic turnaround now on a firm wicket, the Reserve Bank of India (RBI) has made restructuring of debt by companies tougher.
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LIC plans Rs 75,000-cr market booster for next year: Life Insurance Corporation of India (LIC), the countrys largest institutional investor, is planning to pump in at least Rs 75,000 crore in equities during the next financial year.
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RBI hints at further rate rise: The Reserve Bank of India (RBI) indicated another round of policy rate increases with Governor D Subbarao suggesting more monetary tightening to manage inflationary expectations.
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No rise in rates right away: SBI: Ruling out any immediate rise in lending rates, the State Bank of India today said it will wait for the Reserve Bank of India's policy meeting on April 20 before taking a decision on rates for deposits and advances. SBI is Indias largest bank.
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RBI raises repo, reverse repo: Surprises market with 25-basis-point rise; banks not to increase rates immediately.
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S upgrades India outlook: Factoring in the governments push to improve its finances and higher growth, Standard & Poor's today revised the outlook on Indias sovereign credit rating to stable from negative.
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Micro-finance institutions: Pay more for less hassle: Nothing deters the women who form a snaking queue in front of the partly constructed building that is the office of Bandhan, a micro-finance institution. Not the stifling heat of the summer afternoon, not the poor infrastructure, not even a nationalised banks branch that sits just a few yards away, wallowing in its loneliness.
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