Expected to be at its highest at 5% in 2012-13, against 4.2% in 2011-12

CAD is biggest concern: Rajan

Reuters

Standard Chartered notched up a 10th successive record year with a 1% profit increase in 2012, just below expectations after a big fine for breaking sanctions on Iran countered strong growth in Asia.

Standard Chartered profits hit record $6.9 billion

The Reserve Bank of India has placed several restrictions on Surat Nagrik Sahakari Bank Ltd with regard to garnering fresh deposits, granting new loans or renewing loans, making investments, entering into agreements to sell, transfer or dispose properties or other assets except as notified in the RBI Directions dated February 27.

RBI restricts operations of Surat Nagrik Sahakari Bank

Business Standard

In a move to protect borrowers from interest rate fluctuations and reduce the burden of equated monthly instalments (EMIs), a Reserve Bank of India (RBI) committee has suggested banks offer loan products with a repayment period of 30 years.

Soon, option to pay home loan EMIs for 30 years

First half of 2007-08 sees big slump, festival season fails to bring cheer. 


Banks set to pare credit targets

The Delhi State Consumer Commission has slapped a penalty of Rs 1 lakh on a private sector bank for lapses in finalising the account of an 85-year-old customer. 


Axis Bank fined Rs 1 lakh for lapses

Press Trust of India

Life insurance company Max New York Life (MNYL) and the District Cooperative Central Bank Limited (DCCB) of Mahabubnagar in Andhra Pradesh entered into a strategic referral tie-up on Friday.


Max New York Life in pact with co-op bank

Retail boom, low interest rates fuel the rise in the year ended March 2007. 


Household debts soar by 55%

Citigroup Inc and UBS AG, the largest banks in the US and Europe, said writedowns sparked by the US subprime mortgage meltdown ravaged third-quarter results. 


Citigroup, UBS say sub-prime losses damage Q3 results

State Bank of India (SBI) has not set any timeframe for the merger of its associates with itself. While the progress of the process will depend on a host of factors, it intends to proceed in cases

No timeframe for associates` merger: SBI

Indias forex market may be minuscule when compared with developed economies such as the US and the UK, but government efforts to ease capital movement has led to the country recording the fastest

India`s share in global forex market trebles

State Bank of India (SBI), the countrys largest public sector bank, will finalise a partner for its proposed general insurance venture in 3-6 months. This was indicated by the chairman Om Prakash

General insurance partner to be in place in 6 months

Kolkata-based Uco Bank is planning to reduce its Rs 800 crore equity base by converting a part of it into preference shares. If the bank succeeds in pushing it through, this would probably be the

Investors may oppose Uco cap rejig plan

The Reserve Bank of India (RBI) has allowed Germanys Deutsche Bank to set up a non-banking finance company (NBFC) to undertake consumer finance business. Deutsche Bank is the first foreign bank to

Deutsche gets NBFC licence

Public sector banks (PSBs) depend excessively on their interest income compared to their peers in the private sector as their fee-based earning from other services is declining, a study said. 


PSU banks depend more on interest income: Assocham

Sales of securities backed by assets, including mortgages, may shrink by as much as 50 per cent in Europe next year because the yields investors demand to buy the debt are too high, according to

Asset-backed debt sales may halve in `08: Lehman

More American homeowners are missing mortgage payments, pushing defaults on privately insured home loans up 30 per cent last month from year-earlier levels, according to a trade group. 


Defaults on insured mortgages increase 30%

Indian Bank expects to achieve a credit growth of 25 per cent and a deposit growth 20 per cent in the current financial year to touch an overall business of Rs 93,000 crore by the end of March 2008 as

Indian Bank eyes 25% credit growth

The US-based private equity fund Newbridge Capital has opted out of the race to acquire a strategic stake in the countrys oldest financial institution IFCI. 


Newbridge off IFCI race

Singapore has agreed to allow the State Bank of India and ICICI Bank to launch full banking operations in the South-East Asian country, under the Comprehensive Economic Cooperation Agreement (CECA)

SBI, ICICI Bank to start operations in S'pore

The Balasore Co-operative Urban Bank (BCUB), which was running in loss till a year ago, has registered significant growth in all major areas of operation. 


Balasore Co-op Bank does better

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