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

Business Standard

Audi AG, the luxury unit of Volkswagen AG, plans to form an auto finance arm in India after offering car loans helped rival Bayerische Motoren Werke AG become the country&rsquo;s biggest luxury car seller last year.

Audi, Daimler to add India auto finance arms

Engineering giant Larsen &amp; Toubro on Monday said L&amp;T Finance, its wholly-owned financial services arm, might come out with an initial public offering (IPO) during the current financial year, depending on market conditions.

L&T Finance IPO likely this year

Press Trust of India

State-run India Infrastructure Finance Company Ltd (IIFCL), World Bank, Asian development Bank (ADB) and the government will come out with a final model of credit enhancement scheme by the end of March.

IIFCL, WB, ADB to come up with credit enhancement model

The Credit Guarantee Fund Scheme for Micro and Small Enterprises (CGTMSE), which guarantees collateral-free bank credit for micro and small enterprises, has failed to enthuse the small units in the region.

Small and micro units not enthused with credit scheme

The National Bank for Agriculture and Rural Development (Nabard) on Monday sanctioned over Rs 112 crore to the Himachal Pradesh government for the creation of rural infrastructure, taking the aggregate sanction during the current financial year to Rs 403 crore.

Nabard sanctions Rs 112 crore for rural projects in Himachal Pradesh

Taking its price war with main rival National Stock Exchange (NSE) up a notch, the Bombay Stock Exchange (BSE) has announced the waiver of all transaction charges for brokers from semi-urban areas with effect from next month.

BSE escalates price war with rival NSE

Terming concerns expressed by some quarters over governance-deficit, tight liquidity and inflation in the country as &quot;alarmist and highly-exaggerated&quot;, a leading banker today said that India is well-poised to achieve 8-9 per cent economic growth per annum over the next few years.

Concerns over inflation exaggerated: HDFC honcho

The Reserve Bank of India (RBI) may soon tighten its noose on banks lacking on customer service front by a new set of rules, which could include hefty penalties and other remedial measures to guard against such lapses.

Banks may face stern action for service lapses

The Reserve Bank of India (RBI) today said non-resident Indians (NRIs) would not be eligible for incentives on interest on home loans of up to Rs 10 lakh.

NRIs not eligible for interest sops on home loans: RBI

Region accounts for 48 per cent of the total inflows into India.

West Asia crisis may slow remittances in near term

The Damodaran committee appointed by the Reserve Bank of India (RBI) to revisit the issue of banks&rsquo; customer services is likely to recommend capping on service charges to small borrowers or vulnerable sections of society.

Cap charges for small borrowers: Damodran panel

The Reserve Bank of India (RBI) on Tuesday said non-resident Indians (NRIs) would not be eligible for incentives on interest for home loans up to Rs 10 lakh. Banks provide one per cent interest subsidy for home loans up to Rs 10 lakh.

NRIs ineligible for interest sops on home loans: RBI

The Export Import Bank of India will raise a loan of $300 million by the end of the current year to provide financial assistance to exporters and importers.

IFC to loan $75 mn to Exim Bank

In a bid to diversify its liability portfolio, Infrastructure Development Finance Company (IDFC) plans to go for external commercial borrowings (ECBs) and issue retail bonds in a bigger way during the next financial year.

IDFC to borrow more abroad

India Infrastructure Finance Company Ltd (IIFCL) has announced a public issue of long-term infrastructure bonds to raise up to Rs 1,200 crore. Proceeds from the issue are proposed to be used for the company&rsquo;s infrastructure lending activities, Chairman and Managing Director S K Goel said here on Tuesday.

IIFCL to raise up to Rs 1,200 cr from bonds

Nabard has sanctioned a loan of Rs 209.20 crore under RIDF (Rural Infrastructure Development Fund) to the Haryana government for remodelling of 462 water-courses projects in nine districts, construction of 14 bridges in nine districts and 15 projects of drinking water supply in Mahendergarh district, stated Nabard Haryana Regional Office Chief General Manager H K Talreja. The remodelling of water courses projects will bring an area of 42,518 hectares under irrigation.

Nabard sanctions Rs 209.20 crore to Haryana for rural development

Public sector lender Corporation Bank today announced a 50-basis point (bps) hike in its base rate-- the minimum rate below which it cannot lend-- to 9.4%.

Corporation Bank hikes base rate by 50 bps

Credit offtake from public and private sector banks in the country grew by 23.4% for the one-year period ended January 28, indicating an upswing in industrial activity, says the Reserve Bank of India (RBI).

Bank credit offtake up 23.4%: RBI

The country's third-largest lender Bank of Baroda (BoB) today said that it has appointed Hewlett Packard (HP) to implement its IT modernisation initiative.

BoB appoints HP to implement IT modernisation

After increasing its base rate-the minimum limit beyond which the bank can not lend- last week, public sector Union Bank of India today hiked rates on older loans given under the BPLR system by 0.50% to 13.75%.

Union Bank hikes rates on loans under BPLR

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