Visa Inc and MasterCard Inc may face permanent damage to the fastest-growing part of their business after the US Federal Reserve proposed rules that could cut debit-card transaction fees by 90 per cent.

Visa, MasterCard model threatened

Business Standard

Private equity (PE) investors are alarmed by the Andhra Pradesh government&rsquo;s move to bar micro finance institutions (MFIs) from tapping the capital market and PE investments.

Andhra govt thinking will choke MFIs, say PEs

Calling out for bridling of micro credit industry in India, Nobel Laureate and founder of Bangladesh's Grameen Bank Muhammad Yunus on Friday said that the country should set up regulatory authority for Micro Credit Institutions (MCIs).

India should have regulatory body for micro credit: Yunus

With an improvement in business environment and economic growth, loans referred to the corporate debt restructuring (CDR) forum dipped to Rs 9,806 crore in April-December, as against Rs 17,390 crore in the year-ago period.

Loans referred for recast drop in April-December

The Oriental Bank of Commerce (OBC) has achieved 10 to 11 per cent growth in the current financial year, in deposit and advances, in Uttarakhand where it sees the demand for bank loans for the industrial purposes coming down considerably after the expiry of hill incentives this year.

OBC achieves 10-11 % growth in Uttarakhand

In order to popularise Joint Liability Groups (JLG) in Haryana, which primarily consist of tenant farmers and small-scale farmers cultivating land without possessing proper title of their land, Nabard, Haryana (regional office) is planning to induct commercial banks. Since commercial banks have a wide reach in the state, Nabard has written a letter to various commercial banks and feels the banks can play an important role in popularising the scheme among the farming community.

Nabard seeks commercial bank assistance to popularise JLGs in Haryana

Bank of Baroda (BoB) is tapping potential in large industries in Madhya Pradesh, particularly in the power sector. The bank is also exploring potential in the life insurance sector in the state. With an expectation of a growth of 26 per cent to close this financial year and expansion of its operations in Malaysia soon, the bank has plans to be aggressive in the Chinese market as well, MD Malya, chairman and managing director of the company, said here today.

BoB taps potential in power and insurance sectors of MP

The Asian Development Bank (ADB) will soon be opening its first project management unit (PMU) in Shimla and the project implementation unit (PIU) in Kangra to execute the ambitious Rs 428 mega tourism infrastructure development project in the next four years.

ADB offices soon in Himachal

Public sector lender Union Bank of India today increased its benchmark prime lending rate (BPLR) by 0.50 per cent to 13.25 per cent on the back of hardening of interest rates across the economy.

Union Bank raises lending rate by 0.5% to 13.25%

Press Trust of India

Indian Overseas Bank has increased the benchmark prime lending rate (BPLR) of the Bank by 25 basis points.

IOB increases BPLR by 25 basis points

Even as investors await regulatory clarity, allocation to Indian MFIs won&rsquo;t dip.

Global investors pin hopes on Indian microfinance players

The role of banks to nurture the micro, small and medium enterprises (MSME) sector by going beyond just providing finance was underscored at a meeting organised by the Federation of Andhra Pradesh Chambers of Commerce and Industry (Fapcci) as part of the nationwide India Corporate Week-2010 celebrations on Saturday.

'Banks to play bigger role in MSME sector'

Union Bank of India raised its benchmark prime lending rate (BPLR) by 50 basis points (bps) to 13.25 per cent today. Indian Overseas Bank also revised lending rates upwards on the back of hardening of interest rates across the economy. It increased its BPLR by 25 bps to 13.25 per cent.

Union Bank, IOB raise interest rates

The extra yield Treasury investors demand to hold 10-year notes over 2-year securities touched the widest since February on speculation an extension of tax cuts will spur growth and increase deficits.

US yield curve steepest since Feb on tax-cut extension

&lsquo;Margin should be adequate to cover the transaction cost and the risk element&rsquo;.

Margins of MFIs should be capped: Rangarajan

The interest rates in the overnight inter-bank market may open on a steady note due to Reserve Bank of India&rsquo;s steps to ease pressure on liquidity in the system.

Call rate to remain steady

The Central Bank of India plans to open branches in some Asian and African countries as it begins its centenary celebrations today.

Central Bank completes 100 yrs, to open more branches

Shares of SKS Microfinance, the only-listed microfinance company, declined 8.77 per cent on Monday to Rs 603.85 at the Bombay Stock Exchange (BSE) from the previous close of Rs 661.9. It touched its all-time low of Rs 597 during the day.

SKS stock falls 8.77%

Short-term rate eases, but one-year rates harden.

Liquidity deficit hits record high

The revelation that regulators received forged letters denouncing banks&rsquo; &ldquo;cartel-like control&rdquo; of derivatives trading has exposed the latest front in a yearlong battle over which companies gain entr&eacute;e into the $583-trillion swaps market.

Nasdaq working quietly to curb bank control of clearing houses

Union Bank, Punjab National Bank and State Bank of India to set up skill development institutes in Uttarakhand.

Banking on the young

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