The rupee closed flat on Thursday at 52.55/56 against the dollar after alternate bouts of selling and buying of the American currency. At the Interbank Foreign Exchange market, the rupee resumed slightly higher at 52.52/53 per dollar and moved in the range of 52.43 and 52.65, before ending at 52.55/56, little changed from its last close of 52.54/55. A forex player said the market witnesses dollar selling by banks and exporters even as there was month-end dollar demand from importers.

Rupee ends flat on dollar selling, buying

Press Trust of India

Over the last couple of years, ICICI Bank has taken time off to sort some of its issues. It is back on the growth track. The bank has managed to beat market expectations by a long shot on almost all key parameters. Net profit is up 31 per cent to Rs 1,900 crore, compared to market estimates of Rs 1,700 crore. The market was building in a 19 per cent growth but net profit has jumped substantially due to a 30 basis points (bps) rise in net interest margin (NIM) to three per cent. Over the last few years, ICICI Bank&rsquo;s NIM has lagged other private banks, but in this quarter the bank has shown substantial improvement, which has shored up its bottom line, too. That costs have remained stable has also helped.

ICICI Bank: Back on growth path

Business Standard

On March 3, a 21-year-old man landed in the trauma centre of Delhi&rsquo;s All India Institute of Medical Sciences (AIIMS). His leg had been crushed &mdash; apart from the gaping wound there were multiple fractures in his right thighbone and kneecap. From the uniform he wore, it was evident that the victim was a pizza delivery boy. Doctors struggled to salvage the damaged limb. For them, this was a familiar story.

Risk factor

The Indian currency, which recorded an all-time low of 54.3 against the dollar in December 2011, is set to test the levels again in less than six months.

Rupee may fall to new lows on weak outlook

For a second straight quarter, the Indian economy has grown at a rate under seven per cent, which, according to Reserve Bank of India&rsquo; s (RBI) Governor D Subbarao, is the &ldquo;new normal.&rdquo; The country&rsquo;s real growth in gross domestic product (GDP) in the third quarter (Q3) of this financial year (FY12) was 6.1 per cent year-on-year (Y-o-Y).

RBI caught between inflation and slowdown

The first anniversary of the The Andhra Pradesh Microfinance Institutions (Regulation of Moneylending) Act, 2010, coincided with an interesting development in the business of microlending in India.

A brave new world of microfinance

The rupee completed a second monthly advance, as the slowest inflation in more than two years boosted demand for the nation&rsquo;s assets.

Rupee completes 2nd monthly gain

Breaking its two-day gaining string, the rupee today dropped by 20 paise to 49.21/22 against the US currency on dollar demand from importers and fall in equity markets.

Rupee falls by 20 paise vs dollar

The rupee weakened, snapping a two-day gain, after the Federal Reserve refrained from signalling more monetary easing.

Rupee falls on no easing cues from Fed

At the time when a lot of investment banks are scaling down and the industry is seeing a lot of churn, the Indian arm of Japanese financial services firm Daiwa has made two important appointments from within the company. Last month, Daiwa Capital Markets India promoted Sriram Iyer as head of equities and Kartik Mehta as head of research.

BS People: Kartik Mehta & Sriram Iyer

Unlike his predecessor, Pratip Chaudhuri speaks almost in a monotone. But that&rsquo;s understandable, considering the State Bank of India (SBI) chairman has had little to crow about &mdash; and that&rsquo;s not just because of the economy.

Chaudhuri's crown of thorns

Falling for the second day in a row, the rupee today lost 29 paise to close at three-week low of 49.50/51 against the US currency on sustained dollar demand from importers, mainly oil refiners.

Rupee hits 3-week low against dollar

India's foreign exchange reserves rose $1.6 billion to $295.04 billion in the week ended February 24, owing to the flow of foreign funds into the capital market and fluctuation in the values of international currencies.

Forex reserves rise $1.6 bn

Earlier this week, the European Central Bank (ECB) announced that 800 banks had borrowed 530 billion euro under its second tranche of long-term refinancing option (LTRO). The ECB opened its long-term refinance window for the first time in December 2011, when European banks were severely cash-strapped and they did not have the required funds to repay maturing debts.

LTRO-2 to power markets 

The rupee today dropped by 34 paise to finish at nearly six-week low of 49.84/85 against the US currency on sustained dollar demand from importers amid weakness in equity markets.

Rupee hits six-week low vs dollar, drops 34 paise

While foreign banks cut down staffs in investment banking and equity broking, Indian counterparts keep strengthening their teams. Anand Rathi, one of the leading financial institutions, has hired Anil Kakani as an executive director of cross-border initiatives.

BS people: Anil Kakani

The rupee fell to its lowest level in more than a month on speculation that foreign funds would cut purchases of local assets, as oil prices hover near the highest level since May, according to Bloomberg.

Rupee falls to over 1-month low

Government securities (G-Secs) ended narrowly mixed on alternate bouts of buying and selling.

Government bonds end mixed

The rupee recouped from its steep early lows to close the day at 50.28/29 against the dollar amid reports of Reserve Bank's intervention in the forex market.

Rupee rebounds from 7-week low

The rupee strengthened, rebounding from a seven-week low, on speculation that the central bank sold dollars.

Re up on speculation of dollar sale by RBI

Microfinance India Awards were first instituted in 2009 by ACCESS, with support from HSBC India.

When geography is not history

Financial Analysis: Find the Latest Financial News Analysis & Research Updates from all top sources for the Indian Finance industry on Business Standard.

Finance News Analysis, Financial Analysis and Research | Business Standard

Find the Latest Financial News Analysis & Research Updates from all top sources for the Indian Finance industry on Business Standard.

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