Page 1336 - Finance News
Banking shares pare early gains as rupee crosses 64 mark
The BSE banking index, Bankex up 94 points, has lost nearly 533 points from intra-day high.
Rupee shock signals more pain
Indian currency slips below 63 a dollar; Stocks fall to lowest level in 11 months; Bond yields surge to five-year highs; Rs 3,10,000 cr of m-cap swept off in 2 sessions
 "Rupee shock signals more pain")
RBI intervenes as rupee breaches 64/$ mark
But still below its fair value, say experts
NBFCs to report double-digit RoE: ICRA
However, gold-loan companies could continue to remain under pressure in the short term
 "NBFCs to report double-digit RoE: ICRA")
Insurance sector's biggest risk is its business practice: Survey
India scores below global average in ability to handle risks
 "Insurance sector's biggest risk is its business practice: Survey")
RBI loosens purse strings to lower long-term rates
Bond yields set to fall as central bank ushers in 'Operation Twist'; move to help banks restrict MTM loss; rupee may gain from inflows
 "RBI loosens purse strings to lower long-term rates")
 "RBI allows non-bank Islamic finance firm")
FIIs auction of govt bonds sail smoothly
Rising yields an attractive investment for FIIs
 "FIIs auction of govt bonds sail smoothly")
In-principle approvals for new banks by Q1 of 2014: Chidambaram
The applications will be screened by RBI to ensure prima facie eligibility of applicants
 "In-principle approvals for new banks by Q1 of 2014: Chidambaram")
NDF market weigh on on-shore currency derivative market
According to treasury executives, movements in the non-deliverable forward (NDF) market and domestic currency markets are closely linked
 "NDF market weigh on on-shore currency derivative market")
Banks' fee income growth shows signs of recovery
It may, however, not be enough to offset treasury losses
 "Banks' fee income growth shows signs of recovery")
But some exporters have expressed concern
Rupee has depreciated 16% since May and its downward spiral accelerated during last couple of days
 "But some exporters have expressed concern")
 "Tenuous link between currency and stock markets?")
US judge endorses use of fraud law against Bank of America
Bank of America paid billions of dollars to resolve demands by Fannie and Freddie to buy back defective mortgages, the judge said
 "US judge endorses use of fraud law against Bank of America")
YES Bank not professionally managed, says Madhu Kapur's counsel
Madhu Kapur is the widow of YES Bank's other co-founder Rana Kapoor
 "YES Bank not professionally managed, says Madhu Kapur's counsel")
IOB to raise $500 mn via medium-term notes
Bank also seeks Rs 2,100 crore capital infusion from Govt to support its 20% growth target
 "IOB to raise $500 mn via medium-term notes")
Modi blames UPA govt's inaction for falling rupee
Gujarat CM says central leadership is only interested in saving its chair
 "Modi blames UPA govt's inaction for falling rupee")
RBI takes U-turn on tight money policy
Central bank will buy long-dated govt bonds and allows banks' to retain hold-to-maturity holdings at 24% of deposits
 "RBI takes U-turn on tight money policy")
Caught between RBI-rupee crossfire, banks bleed
Mounting mark to market losses to erode profitability further, NPA problem expected to worsen
 "Caught between RBI-rupee crossfire, banks bleed")
Govt may delay Rs 14K-cr capital infusion plan for PSU banks
Govt had planned infusion of funds by the end of Sept but may wait for market to stabilise
 "Govt may delay Rs 14K-cr capital infusion plan for PSU banks")