State-owned lender Indian Bank today hiked lending rate for its existing customers by 25 basis points to 13.75% in line with other banks.

Indian Bank hikes lending rate by 25 bps

Press Trust of India

The nation's largest lender State Bank of India (SBI) today announced the launch of a Rs 2,000-crore retail bond issue from Monday to shore up its Tier-II capital.

SBI announces Rs 2,000-cr retail bond issue

The Reserve Bank of India (RBI) may implement some recommendations made by the Malegam committee on regulating the microfinance sector in India from April 1, a senior central bank official said today.

Some Malegam proposals may apply from April 1

Business Standard

The Housing Development Finance Corporation (HDFC) has no plans to raise its stake in private lender Ratnakar Bank.

HDFC not to raise its stake in Ratnakar Bank: Parekh

As many as 11 asset management companies, including HSBC, UTI and ICICI Securities, are in the fray to manage the Employees&rsquo; Provident Fund Organisation&rsquo;s (EPFO&rsquo;s) huge corpus of Rs 3 lakh crore for three years beginning April.

11 AMCs in race to manage EPFO funds for next 3 yrs

Hinting that interest rates may have little room left to move up, State Bank of India (SBI) Chairman O P Bhatt on Friday said rates were ruling near the peak level.

Interest rates near peak level: SBI chief

India&rsquo;s foreign exchange reserves fell $752 million to $298.6 billion during the week ended February 11 mainly on revaluation of currencies. According to the Reserve Bank of India data, foreign currency assets declined $707 million to $269.37 billion.

Forex reserves dip $752 mn

State-owned Indian Bank on Friday raised the lending rate for its existing customers by 25 basis points to 13.75 per cent in line with other banks. The bank has revised its benchmark prime lending rate from the existing 13.5 per cent to 13.75 per cent, Indian Bank informed the Bombay Stock Exchange in a filing. This will make all kind of existing loans, including housing and auto loans, expensive by at least 25 basis points.

Indian Bank raises lending rate

Public sector Indian Bank has planned to expand its network of microfinance branches in the country.

Indian Bank to expand microfinance branches

China&rsquo;s central bank raised reserve requirements for lenders 10 days after boosting interest rates as Premier Wen Jiabao tackles accelerating inflation and the risk of asset bubbles in the fastest-growing major economy.

China raises bank reserve ratios to check inflation

Fastest rally since Great Depression set to persist despite concerns the market is overbought.

'Buy everything' sentiment on Wall St

The executives, including Chief Operating Officer John Havens, 54, and Chief Financial Officer John Gerspach, 57, will get a percentage of cumulative pretax income at the New York- based bank's Citicorp division if that figure exceeds $12 billion over the next two years, according to a filing. Citicorp reported $27.7 billion of cumulative pretax profit in 2009 and 2010, based on the definition in the new filing.

Citigroup may award $11.9 mn to four senior executives

Individual investors could be hurt should regulators alter an equities-trading rule limiting the prices at which brokers can execute orders away from public markets, an executive at TD Ameritrade Holding Corp said.

SEC rule may risk harming investors

Banks say they have no objection to savings rate deregulation, but they believe the timing could be better as the prevailing monetary situation is not conducive to it, said a top banker.

Time not ideal for savings rate deregulation: HDFC Bank

The net interest margins (NIM) of Indian banks are expected to shrink in 2011, despite an estimated growth of 20-22% in loans, due to a rise in interest rates and lenders will be forced to raise deposit rates to manage liquidity.

Indian banks' margins likely to shrink in 2011

HDFC Bank aims to increase the number of clients using its mobile banking services in Andhra Pradesh to 10% of its customer base once 3G services are fully rolled out in the state from below 5% at present, a senior official has said.

HDFC Bank looking at 3G services to boost mobile banking share

Reflecting increase in year-end demand, liquidity in the system may remain tight next week. Banks have increased their borrowings at the Reserve Bank of India&rsquo;s liquidity facility to manage the expected mismatch.

Liquidity to remain under pressure this week

The move is part of Citigroup&rsquo;s strategy to shed non-core assets following the financial crisis.

Centrum may buy part of Citifin India portfolio for Rs 700cr

Housing Development Finance Corporation, the country&rsquo;s leading home mortgage provider, will invest in Kaizen asset management company, the manager for India&rsquo;s first education-focused private equity fund, Kaizen Private Equity.

HDFC to invest in Kaizen

With the focus on enterprise development activities and to make the rural masses self-sustainable, the Commonwealth Secretariat, London, has partnered with public sector banks Corporation Bank and Central Bank of India to provide credit to young people, women and differently-abled youth living in rural areas of India.

London partners with Indian banks for rural development

The Indian rupee was up by 12 paise at 45.08 per US dollar in early trade today on sustained dollar-selling by exporters and corporates amid weakness of the American currency overseas.

Rupee up 12 paise against dollar

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