A consortium of 20 banks today committed a 14-year term loan of Rs 6,387 crore for a 6 MMTPA greenfield refinery proposed by Bharat Oman Refinery&nbsp; (BORL), a joint venture of Bharat Petroleum

SBI Caps arranges Rs 6,387cr for BORL refinery

Business Standard

Raising concern over poor deposit growth in the banking sector, state bankers today pegged the annual credit plan, for the financial year 2006-07, at Rs 10,482.79 crore. 


MP bankers worried over poor deposit growth

A consortium of 20 banks today committed a 14-year term loan of Rs 6,387 crore for a 6 MMTPA greenfield refinery proposed by Bharat Oman Refinery (BORL), a joint venture of Bharat Petroleum

Bharat Oman to raise Rs 6387 cr term loan

Kochi-based Lord Krishna Bank (LKB) has posted a net profit of Rs 3.68 crore in 2005-06. The bank had registered a net loss of Rs 24.41 crore in 2004-05. 


Lord Krishna Bank turns around

The Union Bank of India aims to introduce each Indian household to the process of banking through a scheme under which members of entire villages being provided with a bank account. 


Union Bank bags KMC salary account

Commercial banks disbursed loans of Rs 1,16,370 crore to the agriculture sector in FY06, 33% more than the target set by the government for the year.


Comm. banks' FY06 farm lending: Rs 1 lakh cr

Azim Premji, chairman of Wipro, and Kumar Mangalam Birla, head of the A V Birla group, have been nominated as members of the central board of the Reserve Bank of India (RBI). They are replacing

Kumar Birla, Premji on RBI central board

Barclays India has nearly doubled its net profit for the financial year ended March 2006, with strong growth in key business segments, including investment banking and risk management

Barclays India FY06 net up 95%

The Federal Reserve Ben Beranke raised benchmark rates by 25 basis points yesterday. This the 17th straight hike, thus the federal funds rate is now at 5.25%, its highest level since March 2001

Fed raises interest rates by 25bps

World Bank resumed financing the Mumbai Urban Transport Project (MUTP) on Thursday lifting the suspension imposed in March. World Bank had suspended disbursement of funds to Mumbai in March

World Bk resumes Mumbai urban project funding

State Bank of India (SBI), has decided to wait till the July 25 review of monetary policy by the Reserve Bank of India (RBI) for a revision in its lending rates. SBI and all the other

SBI to decide lending rate revision on July 25

Om Prakash Bhatt, present MD of State Bank of Travancore, has been appointed as the new chairman of SBI. Bhatt will occupy the corner room for five years - one of the longest tenure enjoyed by

OP Bhatt is new chief of State Bank of India

Securities and Exchange Board of India (Sebi) today imposed a total penalty of Rs 30.75 crore on 118 entities, including the promoters of erstwhile Bank of Rajasthan, for alleged manipulative practices in the stock market between 2007-2009

Sebi slaps over Rs 30 cr penalty on 118 entities in BoR case

Foreign exchange reserves zoomed from a meagre $2.427 billion to $172.782 billion for the week ended November 24, according to the weekly statistical supplement released by the Reserve Bank of India

Forex reserves zoom to $172.78bn

Shriram Transport Finance Company (STFC), part of the Shriram group, has posted 15.02 per cent growth in its net profit at Rs 46.49 crore for the second quarter ended September 2006 compared with Rs

Shriram Finance Q2 net up 15%

By combining the traditional strengths with modern technology, old generation private sector banks can face competition from the new generation and foreign banks, according to M Damodaran, chairman,

`Old pvt banks should combine tech, tradition`

The Reserve Bank of India has allowed non-banking finance companies (NBFCs) to distribute mutual fund products and issue co-branded credit cards with scheduled commercial banks.


RBI allows NBFCs to issue MF products

The Reserve Bank of India may revive exchange-traded futures as an instrument for fixed-income derivatives market. 


RBI may revive fixed-income derivative

In a bid to tap the growing business potential in the eastern part of the country, Union Bank intends to add 18 more branches and 48 ATMs to its present network in the region by end of this fiscal.


Union Bank plans more branches

IBM has announced that HDFC Bank has selected it for an information management software project, which will help the bank in enhancing customer care and identify new business opportunities.

IBM to aid HDFC Bank step up customer care

Oriental Bank of Commerce, Indian Bank and Corporation Bank (OIC Alliance) are likely to allow each others' customers to use their ATMs and branch networks from January. This means that an

OIC Alliance to share ATMs/branches from Jan

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