Page 1355 - Finance News
Banks lack strong compliance culture, says Reserve Bank
K C Chakrabarty said while speaking in reference to Cobrapost scam
 "Banks lack strong compliance culture, says Reserve Bank")
StanC is most profitable foreign bank in India
FY13 net profit rises 71% to Rs 2,960 cr, beating HSBC and Citibank
 "StanC is most profitable foreign bank in India")
Banks must link import credit period to operating cycle: RBI
Bankers say the directive from RBI is a step to rationalise credit usage pattern
 "Banks must link import credit period to operating cycle: RBI")
Plastic money gains acceptance in rural India
HDFC Bank offers credit cards in areas with population of less than 10,000
 "Plastic money gains acceptance in rural India")
Reserve Bank might raise WPI inflation estimate
Economists feel falling rupee and its effects make it inevitable fairly soon
 "Reserve Bank might raise WPI inflation estimate")
Rajan may meet global banks on possible foreign debt sale
The meeting is a brainstorming session to assess the feasibility of such sales
Rupee poised to rebound
The rupee has weakened 5.3 per cent since May 31
 "Rupee poised to rebound")
Private equity exists rise 38% in first quarter
There were seven strategic acquisitions during the quarter as against six in the same period last year
 "Private equity exists rise 38% in first quarter")
RBI permits banks to acquire SWIFT shares
Earlier acquiring shares of SWIFT was considered by RBI on the case to case basis under approval route
 "RBI permits banks to acquire SWIFT shares")
NBFCs want status quo over private placement norms
An association has already been written to RBI on th eissue, a top official of a financing company said
 "NBFCs want status quo over private placement norms")
Bankers demand interest on CRR
In addition, bankers sought relaxation on new restructuring guidelines saying they were too stringent
 "Bankers demand interest on CRR")
Rupee pares gains, at 59.66/dollar as importers rush in to buy dollars
It had rallied to more than one-week high on Bernanke's comments in early trade
 "Rupee pares gains, at 59.66/dollar as importers rush in to buy dollars")
EU tempers power of agency to shut troubled banks
But the new authority will be handicapped by the fact that it will have to wait years
US regulators to battle abusive debt collectors
The push comes after revelations that some of the same practices that have haunted the foreclosures of homes
RBI cautious on dollar sale
Latest data shows the central bank sold only $107 mn in the spot market, on a net basis, in May
 "RBI cautious on dollar sale")
Irda chief doesn't favour banks acting as insurers' agents
Comments after recent demand that banks be allowed to sell products of atleast 5 insurance companies in place of 1 in non-life segment
 "Irda chief doesn't favour banks acting as insurers' agents")
Invest in Shriram Transport's NCDs , say experts
The issue has been rated "AA/Stable" by CRISIL and "AA+" by Care
 "Invest in Shriram Transport's NCDs , say experts")
Rupee strengthens as RBI intervenes
Dollar demand by OMCs absent after central bank's plan to ask them to centralise purchase in a single PSB
 "Rupee strengthens as RBI intervenes")
Half of India Inc's $200-bn forex debt is unhedged: CRISIL
Foreign borrowings to hit Nifty companies hard
 "Half of India Inc's $200-bn forex debt is unhedged: CRISIL")
Moody's raises outlook of UK banking system
The ratings firm maintains negative outlook on the long-term debt and deposit ratings of large UK banks
 "Moody's raises outlook of UK banking system")