Seeks control over FHCs, irrespective of bank&rsquo;s presence.

RBI paves a tough road for holding companies

Business Standard

The gap between longer-term US government bond yields and shorter maturities is the steepest ever during this point of an economic recovery, a sign the Federal Reserve will be in no rush to reverse record monetary stimulus when it stops buying Treasuries next month.

Expansion's steepest US yield gap prevails in forwards show

Private sector lender YES Bank is planning to open 100-150 branches in the southern region of the country in the next three years to boost its retail base.

YES Bank to open 150 branches in South

Rating agency Crisil on Monday said listed companies which raised money through foreign currency convertible bonds (FCCBs) should be ready to redeem such bonds, instead of expecting investors to convert these into shares, since FCCBs are trailing below their conversion price.

Companies should be ready to redeem FCCBs: Crisil report 

The Employees&rsquo; Provident Fund Organisation (EPFO) is crunching its numbers under pressure for sustaining a 9.5 per cent interest rate in the current financial year.

Labour ministry pushes for better EPF interest rate

The Insurance Regulatory and Development Authority (Irda) has sought the Life Insurance Council's views on a revised draft of the proposed new guidelines for IPOs by insurers.

Irda seeks Life Insurance Council's views on IPO norms

Press Trust of India

The Reserve Bank today came out with a credit default swap (CDS) guidelines that would allow corporate entities including insurers, FIIs and mutual funds to hedge risk against default in corporate bonds to which they subscribe.

RBI allows FIIs, MFs to hedge risk in corp bonds from Oct

Mangalore headquartered private sector lender, Karnataka Bank has registered a 22.56 per cent rise in its net profit to Rs 90.82 crore in the fourth quarter of FY 11 as against Rs 74.10 crore same period last year. Total income of the bank rose by 22.74 per cent to Rs 745.41 crore as compared with Rs 607.29 crore reported earlier. Operating profit, however, declined by 1.61 per cent to Rs 91.34 crore during Q4 as compared with Rs 92.84 crore reported in the corresponding period last year.

Karnataka Bank Q4 net up 22.5% to Rs 91 cr

The finance ministry may have to borrow more from the market this year because a higher refund outgo has left the revenue department with limited resources to meet the government&rsquo;s short-term spending needs.

FinMin asks I-T dept to go slow on refunds

The Reserve Bank of India (RBI) has relaxed the eligibility norms for using credit default swaps (CDS) on corporate bonds. The move is aimed at ensuring wider participation from banks. The capital adequacy requirement for banks has been reduced from 12 per cent to 11 per cent and the requirement of core capital has been brought down from 8 per cent to 7 per cent.

RBI eases CDS norms, gives banks 5 months to comply

The Maharashtra government has taken steps to enable the Maharashtra State Cooperative Bank (MSC Bank) get refinance of up to Rs 2,160 crore for agricultural loans for 2011-12 from the National Bank for Agriculture &amp; Rural Development (Nabard).

MSC Bank to get refinance from Nabard 

Family-promoted businesses are now attracting a large number of private equity (PE) and venture capital (VC) funds. During 2010-11, the total growth-stage investment by such funds in businesses which had family members of promoters in the management, increased by over 1,000 times to $2217 million.

Family businesses attract PE, VC funds

Amid the slow credit demand in a rising interest rate regime, several public and private sector banks are queuing for the Rs 350-crore loan that HDFC Bank plans to 'down sell'. The loan is a part of the bridge loan that HDFC Bank offered Aditya Birla Chemicals India, a subsidiary of Hindalco Industries, for its acquisition of the chloro chemicals division of Kanoria Chemicals &amp; Industries.

Banks eye HDFC Bank's loan to Aditya Birla Chem

Following the Reserve Bank of India&rsquo;s (RBI) objection, government-owned UCO Bank has declassified loans worth Rs 4,000 crore.

UCO Bank declassifies farm loans worth Rs 4,000 crore 

The Reserve Bank of India (RBI) today said state governments should improve efficiency through better planning, robust cash management and fiscal prudence to improve their financial health.

States must improve fiscal management, says RBI

A Financial Stability Development Council's (FSDC) sub committee, in its meeting today, discussed the regulatory gaps in the non-banking financial sector and ways to plug them. The meeting, which was chaired by the governor of the Reserve Bank of India, was the second meeting the sub-committee.

FSDC panel discusses regulatory gaps in NBFC sector

Private equity (PE) players across the world have offloaded stakes worth $85 billion so far in the second quarter of the 2011 calendar year, a rise of 10% vis-a-vis the previous quarter.

PE exits at $85 bn globally in Q2 so far

The Reserve Bank of India (RBI) should keep its key rates high not just to fight inflation, but also to prevent the formation of asset bubbles, a top economist from Standard Chartered said today.

Rate hike to rein in inflation: StanChart

The Reserve Bank of India (RBI) today said banks can not extend loans against Indian Depository Receipts (IDRs) issued by overseas companies.

Banks can't provide loans against IDRs: RBI

Private sector Dhanlaxmi Bank today said it proposes to raise up to Rs 290.53 crore by way of preferential allotment of equity shares to a group of private equity and institutional investors.

Dhanlaxmi Bank to raise Rs 290 cr via pref issue

Private sector Kotak Mahindra Bank today raised fixed deposit rates by upto 50 basis points (bps) on select maturity.

Kotak Mahindra Bank hikes fixed deposit rates by up to 50 bps

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