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%

Business Standard

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

Press Trust of India

The finance ministry is likely to defer the proposal to set up a holding company for recapitalising public sector banks, as was suggested by former finance minister Pranab Mukherjee.

Banks' holding company plan on hold

After banks, it is now the turn of non-banking finance companies (NBFC) to see a spike in loan defaults and provisioning for non-performing assets (NPAs). The persistent economic weakness has taken a toll on the repayment capacity of NBFC, according to India Ratings.

NBFCs to see spike in bad loans, says India Ratings 

India&rsquo;s foreign exchange reserves were at $293.526 billion as of November 16, compared with $293.56 billion in the previous week, the Reserve Bank of India (RBI) said in its weekly statistical supplement on Friday.

India's forex reserves at $293.53 bn

While prodding the private sector lenders to be more active in BANCON &mdash; the annual banking conclave &mdash; finance minister P Chidambaram also suggested of making future chairpersons of Indian Banks&rsquo; Association from private sector banks.

FM's advice of IBA chief from pvt sector makes PSBs see red

The tougher rules, known as Basel-III, are the world&rsquo;s regulatory response to the 2007-09 financial crisis and would force banks to triple the amount of basic capital they hold in a bid to avoid future taxpayer bailouts.

EU banks urge for delay in Basel-III rules

Reuters 

Deutsche Bank AG co-Chief Executive Anshu Jain says telling people he works in banking is a conversation-killer, as the industry fails to convince the general public that it&rsquo;s changing.

Jain gets silent treatment as bankers eat humble pie

Britain's Financial Services Authority fined UBS &pound;29.7 million on Monday for failing to prevent a $2.3-billion loss caused by a former trader.

UBS fined $47.5 mn in trading scandal

The British government on Monday selected Mark Carney, head of the Canadian central bank, to succeed Mervyn King as the next governor of the Bank of England, ending a months-long process in which some of Britain&rsquo;s most prominent officials vied hungrily for a post that will come with sharply enhanced powers.

Mark Carney to lead Bank of England

Rating agency Icra has put 10 companies owned by Gurdeep (Ponty) Chadha and his brother, Hardeep Singh Chadha, under watch following the death of both in the recent Delhi shootout.

Icra puts Ponty, Hardeep group firms under watch

On the one hand, the number of self-help groups (SHGs) obtaining a loan from banks has been coming down over the years, indicating weakening of the movement in India. On the other, increasing bad loans from SHG portfolios are keeping commercial banks from lending to them.

Nabard raises concern over rising NPAs in SHG lending

Gold loan non-banking financial company (NBFC) Muthoot Finance is planning to enter the white label ATMs (WLAs) space to consolidate its presence in financial services. It has applied to the Reserve Bank of India (RBI) for this.

Muthoot Finance applies for white label ATM licence

IndusInd Bank Ltd, the bank backed by the billionaire Hinduja brothers, might raise as much as $350 million in a share sale to institutions, two people with knowledge of the matter said.

IndusInd Bank might raise up to $350 mn by selling shares

American Express on Monday said it had launched a co-branded credit card with Jet Airways. The card, Jet Airways American Express Platinum Credit Card, would allow American Express customers &ldquo;the quickest way to earn free travel&rdquo; with the airline, it added.

Amex, Jet launch co-branded credit card

The European Commission on Wednesday approved a payment of euro 37 billion, or $48 billion, from the Euro zone bailout fund to four Spanish banks on the condition that they lay off thousands of employees and close offices as part of their restructuring.

EC approves bailout of 4 Spanish banks

Fraudulent lending and embezzlement by officials, including at least two Indian citizens, led to failure of Afghanistan's Kabul Bank resulting in misuse of about $935-million Afghan public money, according to an independent report released on Wednesday. The 87-page 'Report of the Public Inquiry into the Kabul Bank Crisis', prepared by the Independent Joint Anti-Corruption Monitoring and Evaluation Committee, was released in Kabul.

Two Indians involved in Kabul Bank fraud, says report 

Indus Balaji, a domestic fund focused on emerging opportunities, with television and film production house Balaji Telefilms as corporate sponsor, is planning to raise $150 million in two years from now, according to its managing partner Mohit Ralhan.

Indus Balaji to raise $150-mn fund

Publicly-held non-banking financial company Capital First (formerly Kishore Biyani-controlled Future Capital) is planning to raise $30 million through the private equity (PE) route.

Capital First plans to raise $30 mn via PE

A sharp deterioration in the trade deficit and slower government reforms are set to add to factors weakening the rupee again against the dollar by end-December.

Experts see gloomy Dec outlook for Rs /$

As major economies grappling with financial slowdown and uncertainty over returns from green projects, private equity (PE) investments in clean technology projects have almost halved this year.

Private equity investors shy away from clean tech projects

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