Indian Overseas Bank (IOB), tainted by the IPO allotment scam, has withdrawn the powers delegated to branches to sanction loans for purchase of shares in public issues. 


IOB suspends new issue funding at branch level

Business Standard

Indian Overseas Bank has posted 22.34 per cent growth in net profit at Rs 197.22 crore for the third quarter ended December 2005 as against Rs 161.21 crore in the same period of the last financial

IOB bottomline rises 22% to Rs 197 cr

Banks avail of arbitrage offered by lower CBLO rates.


Fund crunch fuels call to 8.15%

The Reserve Bank of India (RBI) today permitted foreign institutional investors (FIIs) and non-resident Indians (NRIs) to subscribe to perpetual debt and debt capital instruments issued by banks.


FIIs, NRIs can now tap debt floats of banks

Small Industries Development Bank of India (Sidbi) has hiked the interest rates it charges on provision of refinance to banks against their priority sector lending portfolio. 


Sidbi jacks up refinance rates by 50-75 bps

The Reserve Bank of India (RBI) today formally granted non-governmental organisations (NGOs) and micro-finance institutions (MFIs) engaged by banks as financial and banking intermediaries. 


Banks get leeway on NGOs, micro-finance bodies

India, Thailand agree on PSU bank's presence in Bangkok. 


IOB set to take over Bharat Overseas Bank

State Bank of Indias (SBI) net profit in the third quarter ended December 2005 increased marginally by 1.44 per cent to Rs 1,115.19 crore over Rs 1,099.35 crore recorded in the corresponding quarter

SBI profit inches up to Rs 1,115 crore

Liquidity is likely to remain under stress for major part of this week, say bond market players. There is also no direct indication regarding the extent to which the market might see easing of the

Liquidity crunch to continue

State-owned Punjab National Bank said its net profit for the quarter ended December 31, 2005, rose 18 per cent at Rs 370 crore compared with Rs 314 crore in the year-ago period.


PNB net profit rises 18% to Rs 370 crore

Pune-based Bank of Maharashtra has chalked out a national expansion plan and is looking forward to opening new branches in the northern and southern regions as well as in West Bengal. 


Bank of Maharashtra plans national footprint

Iffco-Tokio General Insurance company (ITGI) has announced its dis-association with Krishak Bharathi Cooperative Ltd (KRIBHCO) for the sale of Sankat Haran Policy. This will be in effect from January

Iffco-Tokio snaps ties with Kribhco

Lower provisioning helped 32 listed banks to clock an aggregate 40 per cent growth in net profit during the quarter ended December 2005. This is despite a modest 1.44 per cent growth in net profit by

Lower provisions buoy banks` profit 40% in Q3

The bank, however, has no plans to increase lending rates for now.


BoB grapples with staff, infotech costs

In what will be the first for a banking group, Industrial Development Bank of Indias (IDBI) has firmed up plans to enter into commodities trading through its wholly-owned subsidiary IDBI Capital

IDBI to enter commodities trading

The Supreme Court today dismissed the Reserve Bank of India (RBI) and Federal Banks petition challenging the Bombay High Courts stay on amalgamation of Ganesh Bank of Kurundwad with Federal bank.

SC turns down RBI-Federal Bank plea

To grab a big fee earning opportunity, leading credit card issuers are adding a total of 1.2 lakh point-of-sale (POS) terminals in the next two months, which will increase the POS base by 60 per cent

Card issuers to ramp up point-of-sale chain

HSBC today introduced a MyHome loan product that allows borrowers to set a lower equated monthly instalment (EMI) that needs not even cover interest cost initially.


HSBC aims to correct home loan disorder

Indian Bank plans to target 2 million customers with its newly launched global Visa credit card.


Indian Bank launches credit card

After the Union Budget announced additional sops for first time home loan borrowers, HDFC Bank has been seeing many enquiries about the product in Karnataka.

HDFC Bank sees 15-30% higher home loan offtake next year

Sector-wise allocations in 2013The software & services sector accounted for 31.17% of investments in terms of deal volume with an aggregate of $32.21 mn. Healthcare equipment & services was second, attracting $80.09 million (10.39%) in eight deals. Retailing, real estate and commercial & professional services were the other top sectors

A snapshot of PE activity & deals

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