The Reserve Bank of India (RBI) today allowed urban cooperative banks (UCBs) to give loans to self help groups (SHGs), a move that will help in promoting financial inclusion in the country.

Urban co-op banks allowed to lend to self help groups

Press Trust of India

MFI promoters agree to pledge 100% shareholding; banks refuse to give fresh loans to the sector.

Banks, MFIs reach debt recast deal

Business Standard

Infrastructure Development Finance Company (IDFC) and Khazanah, investment holding arm of the Malaysian government, will form a joint venture company to develop road projects in India.

IDFC, Malay fund to form JV for roads

The Insurance Laws (Amendment) Bill is set to miss another deadline of Parliament&rsquo;s Standing Committee on Finance, even as the government waits anxiously for its clearance.

Insurance Bill to again miss deadline

Will focus on acquiring operating units with a turnaround potential.

Edelweiss Asset Reconstruction to float Rs 150-cr fund

The Ministry of Commerce and Industry would initiate talks with Reserve Bank of India (RBI), Indian Banks Association and the top management of nationalised banks to implement the electronic disbursement of Bank Realisation Certificate (BRC) for exporters to speed up the duty reimbursement procedures with the ministry, Union Commerce and Industry Minister Anand Sharma said on Saturday.

Electronic bank realisation certificates for exporters mooted

Asian currencies gained for a third week on speculation regional central banks will keep raising interest rates to stem inflation, boosting the yield advantage on local assets.

Asian currencies gain a third week on rising rates, US economic risk 

Banks may have provided a breather to micro finance institutions (MFIs) by giving up their demand on promoters&rsquo; personal guarantee. But the final agreement has raised hackles for G Dasaratha Reddy, promoter and managing director of Future Financial Services, a micro lender from Andhra Pradesh.

Curious case of Dasaratha Reddy

While everyone else is revising the Indian economy&rsquo;s growth estimate for the current financial year, the Reserve Bank of India (RBI) sticks to its projections since it has already factored the moderation in economic expansion in its annual monetary policy. However, the central bank feels that non-performing assets of banks are rising, which is a matter of concern, but is not alarming.

'RBI has already factored in growth moderation'

Asked by the government for suggestions on a new set of rules for ownership and governance of the stock exchanges, the industry has favoured listing of the bourses.

Industry favours listing of stock exchanges

The majority of the companies that made their debut on the bourses in the year 2011 are trading well below their issue price, resulting in significant negative returns for investors.

9 companies listed in 2011 trading below issue price

According to figures released by State Level Bankers' Committee (SLBC), of the total target of Rs 1640.68 crore of agri-term loans, the actual achievement was Rs 801.46 crore, which represents hardly 49 per cent of the target.

Banks fail miserably in disbursement of agri-term loans

Bank of India is aiming for a 50 per cent growth in business during the current financial year from the southern region, which has 500 branches in the four states.

BoI eyes 50% growth in biz from South

The Reserve Bank of India (RBI) has advised public not to fall prey to fictitious information of being beneficiary of funds such as those from winning lotteries.

RBI cautions public against fictitious offers

The Reserve Bank of India (RBI) wants more and more banks to launch services on mobile, its Deputy Governor Shyamala Gopinath said here today.

RBI wants more banks to launch mobile banking

Ahead of its mid-quarterly policy review, the Reserve Bank of India (RBI) today said it is monitoring the economic data and also the liquidity situation, and would take a forward-looking view while deciding on the policy action.

RBI monitoring economy, liquidity before policy action

French Finance Minister Christine Lagarde will be in India tomorrow to garner support for her candidature for the IMF head, despite BRICS nations demanding someone from a developing country to fill the post.

Lagarde in India today to get support for IMF top job

A string of disappointing economic data capped by last week&rsquo;s jobs report is prompting even some of the more optimistic economists to question the durability of the US recovery.

Slowing growth sows doubts among optimists

The dollar&rsquo;s best monthly performance since November may prove fleeting as a slowing US economy and falling short-term interest rates encourage investors to use the currency to fund investments in higher-yielding assets.

Dollar gains seen evaporating

With liquidity expected to tighten further, owing to the corporate advance tax outflow scheduled for mid-June, banks are seeking short-term funds. The issuance of certificates of deposits (CDs) rose, as rates peaked last week.

CD issuance on rise, as banks stare at liquidity shortage

There is nothing new in a government-owned bank facing profit pressures due to provisioning immediately after a chairman retires. What is new, however, is the Reserve Bank of India (RBI) expressing its displeasure over this &lsquo;legacy&rsquo; in public.

K C Chakrabarty slams reporting standards of banks

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