Manappuram General Finance and Leasing Limited (MGFL), a non-banking finance company, will issue bonus shares at 1:1 ratio. The general body meeting held today at Valappad, near Thrissur, has approved the proposal of the board of directors. This is second consecutive year the company would be issuing bonus shares to shareholders. The record date for the issue is June 10. It also approved the proposal to raise the autho-rised share capital of the company to Rs 200 crore.

Manappuram General to issue bonus shares

Business Standard

The India Agri-Business Fund (IABF), Rabobank&rsquo;s private equity arm, and International Finance Corporation (IFC), along with four existing shareholders have roped in to invest Rs 101.75 crore in National Collateral Management Services (NCMSL), a warehousing arm of the National Commodity and Derivatives Exchange (NCDEX).

Rabobank, others invest Rs 101 cr in NCMSL

State Bank of India (SBI) seeks to explore project financing opportunities in Qatar as the country scales up infrastructure spending and launches several projects across various sectors, a Gulf Times report said.

SBI seeks to gain from Qatar spend drive

Press Trust of India

Citigroup is nearing an agreement with China-based Orient Securities Company to set up a joint-venture securities business that would give the bank a foothold in China's domestic capital markets.

Citi nears partnership deal with China's Orient Securities

Private sector lender IndusInd Bank today said it plans to open nearly 150 branches in the country during FY12 to take its total network strength to over 450 branches.

IndusInd Bank to add 150 branches in FY12

Public sector Union Bank of India (UBI) today announced a revision of rates in both foreign currency and rupee term deposits by the non-resident Indians (NRIs).

Union Bank revises deposit rates for NRIs

The Singapore Exchange (SGX) on Wednesday announced it would start clearing of non-deliverable forwards (NDF) of Asian currencies traded in the region by this September.

Rupee trading to get a boost in Singapore

With an eye on the business from the $1-trillion infrastructure financing market, IL&amp;FS Financial Services Ltd (IFIN) has tweaked its business model to earn more from syndication and advisory services. The company plans to earn Rs 200 crore as fees from syndicating infrastructure loans this year.

IL&FS financial arm tweaks biz model to boost revenue

The dollar beat stocks, commodities and bonds in its first monthly gain since November, as the euro-region debt crisis deepened and evidence mounted that the global economic recovery is losing momentum. The US Dollar Index, which tracks the greenback versus the currencies of six major trading partners, rose 2.2 per cent in May.

Dollar best-returning asset 1st time since November

Reserve Bank of India (RBI) Governor D Subbarao said banks would need to increase their capital going forward to meet rising credit demand.

Banks need to raise capital: Subbarao 

After losing euro 8,000 on an interest-rate swap sold with her mortgage, Maria Jesus del Rio joined demonstrators in her home town of Soria as protests against politicians and bankers spilled onto Spanish streets.

Spanish ire against bankers spills over

Despite the high loan rates, the issuance of commercial papers (CPs) is yet to pick up, primarily owing to the lack of investor appetite. Spreads between a CP and bank loan of a similar maturity have narrowed to 25-50 basis points (bps) from 200 bps in the last couple of years.

CP issuances down on low investor appetite

Bank deposits continued to rise, owing to attractive interest rates on retail and corporate deposits. According to data released by the Reserve Bank of India (RBI), deposits rose 17.37 per cent annually as on May 20. The annual growth in deposits stood at 17 per cent a fortnight ago.

Deposits pick up, bank credit down

Capital market regulator Sebi today said the equity market should not be considered as a market of speculators.

Bourses are not speculators' markets: Sebi chief

Hinduja Group-promoted IndusInd Bank today signed an agreement with business solutions provider ElectraCard Services (ECS) for providing value added services to its credit card customers.

IndusInd Bank inks pact with ECS for credit card business

Come September and Initial Public Offers (IPOs) of companies with paid-up capital of upto Rs 25 crore will not require market regulator Sebi's nod to raise capital.

IPOs with up to Rs 25 cr equity to bypass Sebi

The National Housing Bank today said there has been a slowdown in the growth of housing loan uptake due to higher interest rates and rising property prices.

High interest rate retards housing loan uptake

Pension Fund Regulatory and Development Authority (PFRDA) today said it would like to maintain the 50% limit on investment in equities for the new pension fund.

PFRDA to retain 50% cap on equity investment in NPS

Murugappa Group's company Cholamandalam MS General Insurance is aiming for 40% growth this fiscal, a top company official today said.

Cholamandalam aims for 40% growth

Amid rising instances of debit and credit card frauds, an RBI panel has recommended that banks should put in place secure systems to check such cases within a year's time.

RBI panel calls for secure systems to check credit card frauds

WestBridge Capital Partners, which was revived during mid-February 2011, is understood to have got soft commitments to the tune of $200 million within a period of just three months from a range of global bluechip limited partners who are looking to deploy their resources in India. According to private equity industry players, WestBridge is expected to get commitments of $500 million by the end of 2011. WestBridge Capital Partners offered not to comment.

WestBridge gets commitments of $200 mn in three months

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