Soiled notes may soon be a thing of past as the Reserve Bank of India (RBI) has asked all bank branches handling large amounts of currency to put in place note-sorting machines by the end of next month with a view to halting re-circulation of unfit currency notes.

Stop re-circulation of soiled notes: RBI to banks

Press Trust of India

State Bank of India (SBI) &mdash; the nation&rsquo;s largest bank &mdash; has decided to withdraw from the certificate of deposit (CD) market, a move that has left most market players relieved as they were paying more than 10 per cent for even three-month CDs. Short-term rates, which have moved up 200 bps in the last four months, are now expected to come down.

SBI withdraws from CD market

Business Standard

The Reserve Bank of India (RBI) on Thursday said capital inflows could hurt the economy if they exceeded the absorptive capacity, adding that there were no easy ways to deal with excess flows.

No easy way to deal with excess flows: Subbarao

Credit growth too continues to grow above RBI projections.

Liquidity situation improves as bank deposits grow 17%

Naina Lal Kidwai, HSBC Holdings Plc&rsquo;s country head for India, remembers when the bank&rsquo;s plan to boost profits by lending to the nation&rsquo;s burgeoning middle class went awry.

HSBC's Indian loan debacle spurs bank to target rich in Asia

L&amp;T General Insurance Company has planned a slew of health insurance products in an attempt to make some serious inroads in the general insurance market in the next financial year.

L&T General Insurance plans new products

Seek pass-through status for private equity and venture capital investments in companies.

PE players for avoiding double taxation in investments

Infrastructure Development Finance Company (IDFC) plans to raise up to Rs 2,172 crore through long-term infrastructure bonds. Ten-year bonds have a face value of Rs 5,000 each. They are being issued in two series. In the first, they carry a coupon (interest rate) of 8.25 per cent, paid annually. Cumulative option carries same coupon. The interest is compounded annually.

IDFC plans to raise up to Rs 2,172 cr via bonds

Private lender Ratnakar Bank aims to double its network in the next two years by setting up 100 more branches, predominantly in the semi-urban and rural centres.

Ratnakar Bank to double branch network in 2 years

Four bankers who worked at Credit Suisse Group were charged with conspiring to help clients in the US evade taxes through secret bank accounts, according to an indictment and people familiar with the matter.

US indicts four Swiss bankers

The guest coordinators at leading television channels are in a fix. On the Budget day coming Monday, many of the high profile CEOs they were aiming to get into their studios for a post-Budget analysis may give them a miss. There is a dinner date in Mumbai that many of these CEOs would hate to miss out on.

Banking on India, global honchos to come calling this Budget week

Two more private lenders have decided to increase lending rates following similar announcements from ICICI Bank and HDFC Bank on Wednesday. Axis Bank said it had raised its lending rates by 50 basis points. The base rate had been revised to 8.75 per cent, while the benchmark prime lending rate had been increased to 16.5 per cent, a bank official said.

Axis Bank, Kotak raise lending rates

State Bank of India (SBI), the country's largest lender, has mopped up Rs 3,897 crore on the retail side through its latest bond issue, according to market sources.

SBI mops up Rs 3,897 cr via bond issue

The Indian rupee appreciated by 9 paise to Rs 45.39 per dollar at the Interbank Foreign Exchange today, supported by a higher opening in the stock market and dollar weakness against other currencies overseas.

Rupee gains 9 paise against $ in early trade

In the backdrop of microfinance institutions (MFI) coming under the Reserve Bank of India (RBI) scanner, India&rsquo;s premier Bankers Institute of Rural Development (BIRD) is giving special emphasis to microfinance space in its training modules.

Banks seeking microfinance module training

State-owned Punjab &amp; Sind Bank (PSB) today raised its fixed deposit rates across various maturities by up to 100 basis points, or 1%, in line with other lenders.

PSB raises deposit rates by up to 1%

&quot;Our target is to increase the total business up to Rs 2.20 lakh crore by March 31, 2011, while the business level had already touched Rs 2.07 lakh crore by December 31, 2010,&quot; Allahabad Bank Executive Director D Sarkar told reporters.

Allahabad Bank aims to raise biz to Rs 2.20 lakh cr

Keeping with an interim order passed by the Supreme Court in connection with the disbursement of funds of Harshad Mehta Group (HMG),the Bombay High Court has directed the custodian of assests of the late stock broker to release Rs 1995.66 crore to the Income Tax department, to clear their dues.

Harshad Mehta case: I-T dept to get Rs 1996 cr

Federal Reserve Vice-Chairman Janet Yellen and European Central Bank Vice-President Vitor Constancio said they&rsquo;ll act to prevent any surge in inflation sparked by rising oil prices.

Policymakers pledge to halt any inflation from oil price surge

Reserve Bank of India (RBI) Governor D Subbarao today reiterated that monetary policy remained the first line of defence against rising inflation even as much of the pressure had been from the supply side.

Policy first defence against inflation: RBI

The finance ministry's plan to offer basic banking licences may find few takers because of doubts over the commercial viability of the proposed business model.

Firms wary of basic banking licence model

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