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

Business Standard

A day after SKS Microfinance's warning that it might pull out of Andhra Pradesh, the state government said it would not make any changes in the contentious Micro Finance Institutions (Regulation of Money Lending) Act.

Andhra unmoved by SKS warning

The computer network of the Nasdaq Stock Market was targeted by the online hackers several times last year, setting off an alarm by the US authorities, a Wall Street Journal report said.

Hackers target Nasdaq computers: WSJ

Press Trust of India

Private sector lender Karur Vysya Bank today said it has increased its base rate, the minimum lending rate, by 50 basis points to 10%.

Karur Vysya Bank hikes base rate by 50 bps to 10%

With a spike in food inflation, C Rangarajan, Chairman of Economic Council to the Prime Minister, today said he would not be surprised if RBI hikes the rate by 25 basis points to contain it.

Not surprised if RBI increases rates by 25%: Rangarajan

High interest rate and lack of clarity on end use of funds was the primary reason behind the regulator asking banks not to classify loans to non-banking finance companies (NBFCs) for on-lending against gold jewellery as priority sector lending.

RBI clarifies stand on gold loan move

UBI will set up Customer Care Service Points (CCSPs) in un-banked villages where a business correspondent of the bank will execute various customer transactions through Internet banking, UBI Chairman and Managing Director Bhaskar Sen said.

UBI to extend services to 1,880 un-banked villages

Private banks are not in a hurry to raise additional capital, even as most of them witnessed erosion in their capital adequacy ratio (CAR) during October-December following a sharp rise in loan demand.

Capital ratio dip fails to trigger fund-raising

Retirement fund manager Employees&rsquo; Provident Fund Organisation&rsquo;s (EPFO&rsquo;s) trustees are likely to approve a proposal to recommence investment in LIC Housing Finance at their meeting scheduled on February 15.
EPFO's apex decision-making body, the Central Board of Trustees, headed by the labour minister, had decided to suspend further investment in LIC Housing Finance till the Central Bureau of Investigation (CBI) completed its probe into the alleged involvement of the home loan

EPFO likely to resume investment in LIC HF

News that computer hackers had infiltrated the operator of the Nasdaq Stock Exchange is the latest blow for Wall Street as it works to repair an image with investors and traders dented by last year's &quot;flash crash.

Nasdaq hackers another blow to investor confidence

The Reserve Bank of India will soon put new coins of Rs 10 denomination into circulation to felicitate its Platinum Jubilee.

RBI to issue new coins of Rs 10 denomination

Public sector lender IDBI Bank today increased its minimum rate of lending or the base rate by 0.5% to 9.50% and benchmark prime lending rate (BPLR) by 0.25% to 14%, a release issued by the bank said.

IDBI raises BPLR, deposit rates

Banks are not ruling out the possibility of increasing retail term deposit rates further , as they struggle to raise funds amid extended tight liquidity to finance growth in loan portfolios.

Deposit rates set to touch past peaks

As against the existing channels of delivery of banking and financial services in the rural under-banked areas, adoption of mobile financial services (MFS) may tend to be easier, says a study by the Indian Institute of Management, Ahmedabad (IIM-A).

MFS adoption easier in  rural areas: IIM-A study

Move to provide relief to HDFC Bank, ICICI.

Govt to wait for RBI stand before deciding on FDI cap

Egypt's political crisis might drive oil and commodity prices higher, flagging a &ldquo;new risk&rdquo; to inflation that might spur policy makers to boost interest rates, Reserve Bank of India (RBI) Deputy Governor Subir Gokarn said.

Egypt crisis poses new risk to inflation: Gokarn

Karur Vysya Bank (KVB) on Monday got an approval from its board for the proposed Rs 450-crore rights issue. According to the bank&rsquo;s statement to the Bombay Stock Exchange (BSE), the committee of board of directors of the bank, at its meeting held on Monday, finalised the opening and closing dates of the issue as February 28 and March 15, respectively.

Karur Vysya Bank board approves rights issue

State accounts for 25% of their overall business.

After SKS, more MFIs to cut exposure to Andhra

The Hyderabad-based bank has also fixed an interim target to cover around 500 villages by the end of the current financial year under the Financial Inclusion Plan (FIP).

Andhra Bank submits financial inclusion roadmap to RBI

The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 110.76 crore to the Orissa government under the 16th tranche of Rural Infrastructure Development Fund (RIDF) for the implementation of 421 lift irrigation and 10 roads and bridge projects.

Nabard sanctions Rs 110.76 crore under RIDF

Non-banking finance companies (NBFCs) engaged in gold loan business may overhaul their business models, especially the fund-raising pattern. This follows a Reserve Bank of India (RBI) directive that says bank credit to NBFCs for giving loans against gold jewellery will not be treated as exposure to the agricultural sector.

RBI directive to trigger revamp of gold loan business

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