Manappuram Finance Limited has declared a net profit of Rs 161.37 crore, up 117 per cent in the third quarter of the current financial year compared to Rs 74.53 crore for the same period, last year. Net profit for the nine months up to December is up by 124 per cent at Rs 404.5 crore, compared Rs 180.8 crore. V P Nandakumar, executive chairman, announced the results on Thursday. The company&rsquo;s aggregate gold loan disbursements during the quarter increased to Rs 10,371.80 crore.

Mannapuram Finance profit rises 

Business Standard

Says it will also restructure its Rs 1,300-cr loan to Rajasthan state power company.

Corporation Bank treats Kingfisher loan as NPA in Q3

With a rise in the cost of funds and higher provisions for bad loans and restructured assets, Corporation Bank posted a marginal 5.2 per cent increase in its net profit at Rs 402.2 crore for the third quarter ended December. The figures stood at Rs 382.4 crore.

Corp Bank profit rises 5.2%

While India has been the largest recipient of remittances globally for the past few years, political unrest in the West Asian and African economies, and the crisis in Europe slowed inflows in the first half of the last calendar year.

Remittance flows to India gather pace

Bankers are unperturbed and chose to play down concerns that their loans to telecom operators would turn non-performing following the Supreme Court's verdict on new 2G licences.

Banks play down loan worries

In a bid to encourage refinancing to warehousing projects, the National Bank for Agriculture and Rural Development (Nabard) will extend financial assistance, by way of refinance, to commercial banks, regional rural banks and cooperative banks against the loans extended by them for construction of warehousing infrastructure for agricultural commodities.

Nabard encourages banks for warehousing finance

Goldman Sachs Group Inc was ordered by a federal judge to face a securities class-action lawsuit accusing it of misleading investors about a 2006 offering of securities backed by risky mortgage loans from a now-defunct lender.

Class-action lawsuit against Goldman 

Reuters 

The State Bank of India, the country's biggest lender, will name and shame 'wilful' defaulters and put their pictures in newspapers to get them to pay up, a leading business daily said on Saturday.

Fed-up SBI 'to name and shame' defaulters

The Reserve Bank of India (RBI) is unlikely to cut rates aggressively even as economic growth appears to have slowed and inflation has started moderating.

No aggressive rate cut, open market operations will continue: Gokarn

The country&rsquo;s central bank on Friday swung into action to take stock of banks&rsquo; exposure to the telecom firms affected by the Supreme Court&rsquo;s order that cancelled 122 2G licences granted in 2008 during the regime of A Raja as telecom minister.

RBI seeks details of banks' exposure

Indian banks, with exposure to second-generation mobile service licence, may see yearly profits fall by up to 10 per cent due to provisions for losses, according to Fitch. Even so, the rating agency said on Friday Indian banks sector should be able to absorb loan losses stemming from the cancellation of these licences without materially impairing credit quality.

Banks' profit may reduce 10%: Fitch

India's foreign exchange reserves rose marginally by $673 million to $294 billion for the week ended January 27. According to the Reserve Bank of India (RBI), increase in the foreign exchange reserves is mainly on account of revaluation in the foreign currency assets. The foreign currency assets rose by $614 million, propelled by appreciation in the rupee to $260 billion.

Forex reserves rise to $293.93 bn

After a blockbuster January for both equities and bonds &mdash; rallies that caught many in the market by surprise &mdash; investors will be paying keen attention to the world&rsquo;s central banks in the coming week for signs of continued easy money.

Liquidity tap of the world's central banks to stay open for some time

Investors grew more optimistic about most emerging Asian currencies in the last two weeks, adding bets on the Indian rupee and the South Korean won to the largest in more than 15 months, a Reuters poll showed on Thursday.

More bullish on Asia FX biggest bets on won, rupee in 15 mth

Treasuries declined after the US jobless rate unexpectedly fell to the lease in three years, raising skepticism about Federal Reserve Chairman Ben S Bernanke's extended low-rate policy and limiting demand for the safety of US debt.

Treasuries fall as job gains cast doubt on Fed's low-rate policy

The Reserve Bank has asked banks to set up dedicated verticals to help small and medium businesses to deal with financial matters.

RBI calls for dedicated SME verticals at banks

Press Trust of India

Country's largest lender State Bank of India has decided to waive guarantees and annual service fees on loans given to small and medium businesses, guaranteed under the Credit Guarantee Fund Trust scheme.

SBI waives service fee on SME loans

The rupee opened stronger on Monday after surprisingly robust US jobs data bolstered investor risk appetite across world markets.

Rupee rises on US jobs data

The board of Indian Bank has approved the merger of the bank&rsquo;s wholly-owned asset management subsidiary, Indfund Management Limited (IFML), with itself, which will be completed in another three months. Post the merger, around Rs 63.03 crore will flow into the bank&rsquo;s reserves as Tier-I capital.

Indian Bank gets Rs 63 cr, post Indfund merger

The banking sector, reeling under a rise in non-performing assets (NPAs) from the corporate sector, is seeking to hedge loans to individual borrowers. Increasingly, borrowers are being asked to buy insurance policies to cover their loans. &ldquo;Covers with personal loans and overdraft facilities have gained traction in recent times. Both public and private sector banks are aggressively pushing these products to retail customers,&rdquo; said a senior State Bank of India (SBI) official.

Banks ask borrowers to cover their personal loans, overdraft facilities

The yield on government bonds are expected to stay range-bound with the Reserve Bank of India (RBI) signalling intent to conduct more open market operations (OMOs) to buy bonds and easy liquidity pressures.

G-Sec yield to stay range-bound  

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