Finance Minister P Chidambaram has asked the Reserve Bank of India (RBI) to start working towards issuing the final guidelines for new banking licences and receiving applications from interested entities. The development comes even as the central bank insists on amending the Banking Regulation Act before such a move.

FM asks RBI to bring out final bank licence norms

Business Standard

Research firm Nomura on Thursday said the couple of recent developments suggested country&rsquo;s twin deficits &mdash; fiscal and current account &mdash; are worsening at the margin.

Twin deficits still remain a cause for concern: Nomura

Global financial services giant Goldman Sachs has promoted 266 persons, including at least 16 of Indian origin as managing director, while three others of Indian origin have been named as partners at the group.

16 Indian-origin execs on Goldman Sachs MDs list

Press Trust of India

The Reserve Bank of India (RBI) may not reduce interest rates any time soon, despite the slowdown in growth and easing of inflation.

Inflation still high, says Subbarao

The Reserve Bank of India (RBI) has raised concern on debt flows by foreign institutional investors (FIIs) in the capital market. RBI Deputy Governor H R Khan said there was a need to reduce debt inflows, which, due to interest rate differentials, had have come at a very quick pace.

RBI concerned about FII debt flows

Bank of Maharashtra is targeting a minimum 50 per cent growth in net profit in the current financial year, a top official of the bank said on Monday.

Bank of Maharashtra targets 50% growth

Private sector lender Karnataka Bank on Monday said it had raised Rs 250 crore by issuing non-convertible subordinated debt instruments in the nature of debentures (lower tier-2 bonds) on a private placement basis.

Karnataka Bank raises Rs 250 cr via bond issue

Former UBS trader Kweku Adoboli was convicted and sentenced to seven years in jail on Tuesday for the biggest fraud in British history, which resulted in a loss of $2.3 billion for the Swiss bank.

UBS trader gets 7 years' jail for $2.3-bn fraud

Reuters 

The Reserve Bank of India (RBI) has ruled out Statutory Liquidity Ratio (SLR) status for corporate bonds, amid talk that the finance ministry is pushing the idea to free up funds from banks.

No SLR status for corporate bonds: RBI

The world needs more reserve currencies, says Reserve Bank of India (RBI) Governor D Subbarao.

Subbarao for more reserve currencies

Union Finance Minister P Chidambaram on Tuesday dismissed as &ldquo;media creation&rdquo; reported differences between the government and Reserve Bank of India (RBI) Governor D Subbarao.

Differences with RBI media creation: FM

Dhanlaxmi Bank continues to witness senior-level exits, with three more top management executives resigning from their positions in recent months.

Dhanlaxmi Bank continues to see senior-level exits

With a view to grow its revenue beyond the infrastructure segment, SBI Caps Ltd, the investment banking arm of State Bank of India, has reworked its structure to form new business groups.

SBI Caps tweaks business structure

When Ram Gollamudi, chief executive of Edutor Technologies, a Hyderabad-based start-up that develops and markets learning platforms for touch devices for K-12 students, heard about Hyderabad Angels from a friend, he was quick to approach them for funding. After presenting its business plan, in March, Edutor received Rs 2 crore from Hyderabad Angels, a network of angel investors focused on early-stage businesses. Of the amount, entrepreneur Sashi Reddi invested Rs 1 crore.

Hyderabad Angels gives start-ups a boost

Reserve Bank of India (RBI) Governor D Subbarao seems to have a knack of doing the opposite of what members of the technical advisory committee (TAC) on monetary policy suggest.

Subbarao went against his advisors, again

As the government is yet to find a replacement for Reserve Bank of India (RBI) Deputy Governor Subir Gokarn, it today gave him a one-month extension. Gokarn&rsquo;s three-year term at the central bank is coming to an end on November 24, but the government has not decided on his successor yet.

Gokarn gets extension till Dec 31

Deutsche Bank AG co-Chief Executive Officer Anshu Jain said he expects &ldquo;significant consolidation&rdquo; in the global banking industry amid new regulations on capital requirements.

Deutsche Bank's Jain sees significant bank consolidation

Reserve Bank of India (RBI) Governor D Subbarao on Thursday said separate legislation should be enacted to commence Islamic banking in India.

Subbarao: Need separate legislation for Islamic banking

The government seems to be preparing the ground for the merger of public sector banks (PSBs). After asking small banks to coordinate with large ones on key areas, it has now merged 19 regional rural banks (RRBs) into eight entities, despite reservations by the Reserve Bank of India (RBI). It plans to merge more rural banks by the end of this financial year.

Nineteen rural banks merged into eight 71 left

Gilt yields rose today on expectations of additional borrowing by the government in the second half of the current financial year. The yield on the 10-year benchmark 8.15 per cent gilt closed at a 12-week high of 8.23 per cent; yesterday, it closed at 8.21 per cent. On August 31, the yield on the benchmark gilt had ended at 8.24 per cent.

Yield on 10-year benchmark gilt at 12-week high of 8.23%

India Max Investment Fund today raised its holding in non-banking financial services company LKP Finance, by picking up additional 0.3 million shares for nearly Rs 2 crore.

India Max Investment buys 0.3 mn shares of LKP Finance

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