Microfinance institutions (MFIs) are making regular payments to investors who had invested in debt instruments floated by them while securitising loans. This is despite the turbulence faced by the sector in recent months, according to rating agency Crisil.

Payments on MFI-securitised paper on track, says Crisil

Business Standard

Public sector Canara Bank has raised its Benchmark Prime Lending Rate (BPLR) by 50 basis points, from 13.25% to 13.75% with effect from tomorrow.

Canara Bank raises BPLR by 50 bps

Press Trust of India

Microfinance companies in India adopt a comparatively low-cost model of operation than their counterparts in markets like Bangladesh and Mexico, a study on the sector said today.

Indian microfin cos follow lower-cost model than B'desh: study

Revising the guidelines for foreign exchange business, the Reserve Bank of India (RBI) today asked banks dealing in forex to set up a comprehensive risk management procedure for trading as well as non-trading activities.

Set up risk mitigation system: RBI to Fx dealer banks

L&amp;T Infrastructure Finance on Thursday said it would issue its third set of long-term infrastructure bonds for retail investors.

L&T Infra Finance to issue tax-free bonds

American Express on Thursday launched its gold charged card -American Express Gold Card where members can earn 12,000 points a year for using their card four times a month or by spending Rs 4, 80,000 annually. There is no charge on the first year while one will have to pay Rs 4,500 from second year onwards.

American Express unveils charge card

Barclays, Standard Chartered and HSBC Holdings, three of Britain&rsquo;s biggest lenders, are toning down threats they made last year to leave London as pressure to break up commercial and investment banking eases.

Barclays, HSBC threats to quit 'premier' London toned down

Government owned lenders, Bank of Baroda, Andhra Bank and Union Bank of India on Thursday followed their counterparts by raising their base rate by 50 bps to 9.5 per cent. Most of the government banks, like Punjab National Bank, Allahabad Bank, Oriental Bank of Commerce had raised their benchmark rateby similar magnitude in the last few days.

BoB, Andhra, Union Bank raise base rates

Milestone Capital Advisors, the private equity firm with focus on real estate investments, is set to close two deals worth Rs 160 crore. The firm which is in final stages of negotiations with real estate developers in Mumbai and Delhi will buy minority stake in two residential projects by this month.

Milestone to invest Rs 160 cr in residential projects

After a notional loss of Rs 1,400 crore was reported in three pension schemes of the country&rsquo;s largest insurance company, Life Insurance Corporation of India (LIC), the Insurance Regulatory and Development Authority (Irda) has examined the pension liabilities of all life insurance companies.

Irda scans pension liabilities of life insurance companies

Non-life insurance companies registered 22.41 per cent growth in premium collections during the first nine months of the financial year.

Non-life insurers clock 22% growth in April-December

Akula urges RBI intervention, says difficult to continue if restrictive law remains.

SKS threatens exit from Andhra

The multi-crore fraud at the Gurgaon branch of Citibank has prompted the banking regulator to review existing norms for the portfolio management services (PMS) of banks.

RBI to tighten oversight norms for portfolio management

Suparna Kumar Dey Purkayastha has joined as General Manager, UCO Bank-cum-Convener of the State Level Bankers' Committee (SLBC)-Orissa. Purkayastha joined UCO Bank in 1977 as a probationary officer and served the bank in various capacities as Manager, Faculty Member in Staff Training College, Chief Manager, Zonal Manager and Deputy General Manager.

New GM of UCO Bank

&lsquo;Restraining commercial activities of the state on secular principles will not be legal&rsquo;.

Kerala HC clears way for launch of Islamic bank

Indian Bank today said it plans to increase revenue contribution from fee-based and non-interest income from current 11% to 13% by the fiscal-end and to 15% in the next two years.

Indian Bank plans to up revenue from fee-based income

State-run Indian Overseas Bank (IOB) today announced it will soon start a dedicated subsidiary for financial services, which will help it foray into untapped areas such as investment banking, wealth and asset management and augment product offerings mix.

IOB to open subsidiary for financial services

International Finance Corporation (IFC) is planning to invest around Rs 345 crore in Export-Import Bank of India (EXIM). The loan on IFC&rsquo;s own account and around around Rs 1,035 crore parallel loans to be mobilised from international commercial banks, according to the corporation, which is part of the World Bank.

IFC to fund Exim Bank

Private sector Lakshmi Vilas Bank (LVB) is keen on entering the mortgage business, a top official said here today.

Lakshmi Vilas Bank on entering mortgage biz

After hovering around Rs 80,000 crore for a month, the liquidity deficit has come down to Reserve Bank of India&rsquo;s comfort level of Rs 50,000 crore. Banks on Friday borrowed Rs 56,085 crore from the two repo windows. Dealers attributed the drop to increase in government spending. Banks borrowed Rs 45,530 crore yesterday.

Liquidity deficit nears RBI comfort level

With funds turning expensive in India, government-owned banks are turning abroad to raise resources. At least half a dozen plan to raise funds by end-March through medium-term notes (MTN) and more are expected to follow.

PSBs follow one another abroad for deposits

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