Page 1214 - Finance News
RBI uses fewer banks to buy foreign exchange
This is being done for meeting the dollar requirements of state-run OMCs as well as for building up its reserves
 "RBI uses fewer banks to buy foreign exchange")
India Inc's foreign investment limit eased
RBI said funding of ODIs through external commercial borrowings would continue with the limit of 400% of net worth
 "India Inc's foreign investment limit eased")
Barclays Bank India operating profit up by 141% in 2013-14
The lender has also improved credit quality which has boosted the earnings
 "Barclays Bank India operating profit up by 141% in 2013-14")
CARE Ratings places Dhanlaxmi Banks 's bonds under watch
Bank seeks RBI nod to pay interest on tier II bonds
 "CARE Ratings places Dhanlaxmi Banks 's bonds under watch")
Indian Bank revises interest rates on FCNR (B) deposits
Interest rates for deposits for one year and above has been revised to 2.5%
 "Indian Bank revises interest rates on FCNR (B) deposits")
RBI dy governor Khan gets two years extension; announcement shortly
Khan who was appointed as deputy governor in 2011
 "RBI dy governor Khan gets two years extension; announcement shortly")
Proposed resolutions for financial entities will test political will: S&P
Rating agency says regime will need drastic changes in Indian laws and regulations
 "Proposed resolutions for financial entities will test political will: S&P")
Poverty definition immaterial for financial inclusion: Rajan
The Governor spoke after meeting Queen Maxima of Netherlands, who is the UN Secretary General's Special Advocate for Inclusive Finance for Development
 "Poverty definition immaterial for financial inclusion: Rajan")
Union Bank to focus on lending to farm, retail sectors
The PSU bank has registered a year-on-year growth of 21% in priority sector advances
 "Union Bank to focus on lending to farm, retail sectors")
Plan to cover all unbanked GPs in Odisha prepared
Banks seek five years to open branches
 "Plan to cover all unbanked GPs in Odisha prepared")
Vijaya Bank cuts term deposit rates by 5-50 bps
The reduction is effected on six slabs of different maturity period starting from 46 days to 1 year in respect of deposits of Rs 1 crore and above
 "Vijaya Bank cuts term deposit rates by 5-50 bps")
Finance ministry looking at public banks' consolidation
The ministry has already discussed the issue with some large banks to figure their preparedness
 "Finance ministry looking at public banks' consolidation")
FirstRand Bank's India unit reports Rs77-cr net loss
Parent infuses Rs 130 cr in FY14
 "FirstRand Bank's India unit reports Rs77-cr net loss")
 "SBI pins hopes on economic recovery to cut NPAs")
State Bank launches six digital branches, plans 50 more in one year
In order to stay relevant to young consumers, SBI has decided to go digital in a big way in the coming days
 "State Bank launches six digital branches, plans 50 more in one year")
Small banks may need at least Rs 200 cr of capital: RBI
Minimum capital requirement to set up a full-fledged bank is Rs 500 cr
 "Small banks may need at least Rs 200 cr of capital: RBI")
RBI should wait until budget before cutting rates: Rangarajan
Says any downward revision in interest rates will have to wait until the inflation rate shows definite signs of decline
 "RBI should wait until budget before cutting rates: Rangarajan")
Raise tax exemption limit, banks tell FM
Lenders express concern on rising bad loans and recovery; demand 100% tax deduction on bad debt
 "Raise tax exemption limit, banks tell FM")
No fresh funds for state-run banks in Budget: G S Sandhu
Union Finance Minister Arun Jaitley is set to present the Budget next month
 "No fresh funds for state-run banks in Budget: G S Sandhu")
Two MFIs to get debt fund of Rs 630 cr by Sept 2014
Share will get a funding of nearly Rs 112 cr, while Asmita will get Rs 140 cr by end of this month
