Rising incomes and the growing acceptance of automatic teller machines (ATMs) has begun to show in the size of cash withdrawals. In the recent festival season, the average ATM cash withdrawal was Rs 10,500, thrice of Rs 3,500 in 2008 and up 75 per cent from Rs 6,000 in 2009, according to Euronet Worldwide, a provider of electronic financial transaction solutions.

Indians get ATM savvy

Business Standard

Bankrupt Lehman Brothers Holdings Inc reached a settlement in a derivatives dispute with billions of dollars at stake that divided courts in the US and the UK.

Lehman to settle derivatives dispute

US Treasury Secretary Timothy F Geithner said the Obama administration would oppose any effort to strip the Federal Reserve of its mandate to pursue full employment and warned Republicans against politicising the central bank.

Obama backs Fed's employment mandate: Geithner

Country's largest private lender ICICI Bank has said that its credit would grow at a hefty 18 per cent this fiscal, contrary to a meagre 1.8 per cent expansion in the first half, largely on account of buoyant corporate and retail businesses.

ICICI sees 18% credit growth in 2010-11

Press Trust of India

Mangalore-headquartered private sector lender Karnataka Bank has launched initiatives to boost current account, savings account ratio to 30 per cent from present 25 per cent by end of the current fiscal.

Karnataka Bank aims to up CASA ratio to 30% by March 2011

As the uncertainty following the Comptroller and Auditor General&rsquo;s (CAG) report on telecom companies continues, bankers who have taken exposure to these companies are getting the jitters.

Bankers jittery over exposure to telecom

State-owned Union Bank of India (UBI) made its maiden foray into the micro-credit arena today with the launch of a new scheme covering 20 mandals in Andhra Pradesh, a state where microfinance activities were hitherto the preserve of private companies.

Union Bank to enter microfinance arena in AP

Six months after a slow and fractious negotiation process ended in a European Union and International Monetary Fund bailout of a debt-wracked Greece, Ireland became the second eurozone economy to need an emergency rescue.

Ireland seeks a bailout seen at up to euro 100 bn

Sundaram BNP Paribas Fund Services has forayed into the Registrar and Transfer agency operations. The company said that it will invest around Rs60 crore over the next three years. According to company representatives, a majority of investments would go into a technology platform.

Sundaram JV forays into Registrar and Transfer Agency ops

In 1969, then Prime Minister Indira Gandhi nationalised a slew of banks. The same year at a school in Dharwad G D Nadaf was elected &lsquo;prime minister&rsquo; in a mock parliament. It&rsquo;s been a long journey since then for Nadaf, who was appointed by State Bank of India (SBI) to its central board of directors as an officer-employee representative earlier this month.

BS People: G D Nadaf

Axis Bank launched its Rural Banking Strategy initiative on Monday in Gujarat. The bank launched the new initiative in Gujarat with the inauguration of its first Rural Banking Strategy branch at Rajula.

Axis Bank launches Rural Banking Strategy in Gujarat

Tobin tax and a financial sector levy could be considered, says former RBI governor.

India should manage capital account, says YV Reddy

Net borrowing by banks from the Reserve Bank of India (RBI) rose to a record Rs 127,870 crore on Monday. Bank borrowing has been rising despite measures by RBI to ease liquidity.

Bank borrowing from RBI rises to a record

Rates on short-term money market instruments rose by 5-10 basis points on Monday as mutual funds remained on the sidelines due to the continued tight liquidity, dealers said.

Short-term debt rates up 5-10 bps

MFIs finding it difficult to make contact with borrower groups due to weekly collections.

SKS, 11 others under Crisil rating watch

Spandana Sphoorty Financial, the second-largest microfinance company, will indefinitely postpone an initial public offer (IPO) after a clampdown in its largest market nearly halted loan payments and disbursals.

Spandana to delay IPO

Indian Bank has received the Central Bank of Sri Lanka's nod to open its branch at Jaffna in Sri Lanka, according to its chairman and managing director T M Bhasin.

Indian Bank gets approval to open branch in Jaffna

The initial public offer (IPO) of state-owned Punjab &amp; Sind Bank (PSB) will hit the market early next month. It will be an issue of 40 million equity shares with a face value of Rs 10 each. The IPO will see an equity dilution of 17.9 per cent. The government stake in the bank will fall to 82.1 per cent after the offer.

Punjab & Sind Bank IPO in early Dec

A quarter of microfinance institutions (MFIs) may fail after a clampdown last month in their biggest market pared debt payments and curtailed bank financing, said N Srinivasan, who consults on the industry for the World Bank.

Micro-lenders face shakeout under new rules

Citigroup Inc will move its co-CEO for the Asia-Pacific region, Shirish Apte, to Singapore from Hong Kong to oversee operations in South Asia.

Citigroup to move Asia-Pacific co-CEO to Singapore

The World Bank is planning to provide an additional loan of $154 million (around Rs 708.4 crore) to Tamil Nadu&rsquo;s Empowerment and Poverty Reduction &lsquo;Vazhndhu Kaattuvom&rsquo; project (VKP).

World Bank to lend Rs 700 crore for TN anti-poverty programme

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