Thrissur-headquartered Dhanlaxmi Bank has set a business target of Rs 23,000 crore for March 2011, to be based on deposits reaching Rs 13,000 crore and advances Rs 10,000 crore. The current business of the bank is Rs 16,500 crore with a deposit component of Rs 9,850 crore.

Dhanlaxmi Bank aims at Rs 23k cr biz by March

Business Standard

Enlarging the scope of its investigation, the finance ministry has asked some non-bank finance companies (NBFCs) for loans-related information on an urgent basis.

Ministry seeks loan data from NBFCs

Stung by the real estate bribes-for-loans scam, banks and housing finance companies will henceforth seek additional security and add completion guarantee clauses into agreements before sanctioning loans to developers.

Lenders to tighten screws on developers

Taking banking services to customers' homes, public sector lender Central Bank of India today launched a service through which a bank's representative will visit customers for carrying transactions and collecting cheques and drafts.

Central Bank launches door step banking

Press Trust of India

Union Finance Minister Pranab Mukharjee today assured the investors of Life Insurance Corporation of India that they would not lose any money on account of the recent unearthing of the housing loan racket involving some top officials of the LIC Housing Finance Ltd.

LIC investors won't lose a single paise: Mukherjee

For most of its 98-year history, the Federal Reserve has operated with all the transparency and enthusiasm for change of the Vatican. Now the ultra-secretive Fed is starting to change its ways, if somewhat grudgingly. Some of the new openness, such as Chairman Ben S Bernanke&rsquo;s plan for quarterly press briefings, is the central bank&rsquo;s idea. Much of it comes under duress.

US Fed to name banks borrowing from aid window 

Moody&rsquo;s Investors Service said it can&rsquo;t rule out further credit downgrades for euro-region nations because the agreement on a permanent bailout fund, the European Stability Mechanism (ESM), doesn&rsquo;t go far enough.

Moody's signals eurozone downgrades as stability mechanism inadequate

State Bank of India (SBI) has extended its &lsquo;teaser rate&rsquo; home loan scheme &mdash; a popular, yet controversial product &mdash; by a month.

SBI extends teaser home loan scheme by a month

The Union government has appointed R Sridharan, managing director of State Bank of India (SBI), as acting chairman. O P Bhatt retired from service today after a five-year tenure as chairman.

Sridharan named acting chairman

Emerging-market borrowers completed the busiest ever start to a year, selling $195 billion of bonds on international markets to secure funding while interest rates in the US and Europe stay at all-time lows.

Emerging-market borrowers raising $195 bn in busy start

Banks have experienced strong demand for loans from non-banking finance companies (NBFCs) and from the real estate sector during the year till February, shows the latest data released by the Reserve Bank of India.

NBFCs, real estate drive loan growth

In what comes as relief for the private equity industry, the foreign direct investment (FDI) policy unveiled by the Department of Industrial Policy and Promotion (DIPP) on Thursday brought out a clear picture on convertible instrument prices.

New FDI policy spells relief for private equity industry

However, inflows under foreign direct investment (FDI) and short-term trade credits moderated in the three months.

FIIs, ECBs dominate capital inflows in third quarter

Receipts from communication services pulled down India&rsquo;s current account deficit (CAD) by almost 24 per cent to $9.7 billion in the quarter ended December 2010 from $12.2 billion in the corresponding quarter last year.

Current account deficit widens to 3.1% in April-Dec 2010 

Poor underwriting results over recent years, following the deregulation of rate-setting, has led rating agency Standard &amp; Poor's to downgrade its outlook for the Indian non-life insurance industry to negative from stable.

S&P cuts Indian general insurance rating 

State-owned Union Bank of India today said the government approved re-appointment of its Chairman and Managing Director MV Nair for a period of three months.

Union Bank CMD gets 3 months extension

Country's largest lender State Bank of India (SBI) today revised interest rates for deposits by non-resident Indians (NRIs) across maturities and currencies.

SBI revises interest rates for NRIs

State-owned Bank of Baroda (BoB) today said it has allotted 2.7 crore shares to the government of India on a preferential basis, resulting in capital infusion of Rs 2,460.9 crore.

Bank of Baroda gets Rs 2,461 cr govt fund

The formal appointment of the State Bank of India (SBI) chairman has been delayed due to procedural irregularities in selection of the candidate proposed by the finance ministry.

Procedural irregularities hold up SBI chief's appointment

The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 38.62 crore as loan assistance to the Karnataka government for building up rural infrastructure in various districts. Projects sanctioned cover rural roads and bridges, primary health centres and rural service centres. These projects have been sanctioned under the Rural Infrastructure Development Fund (RIDF XVI) and the cumulative sanction to Karnataka in 2010-11 was Rs 861.30 crore, a NABARD statement said.

Nabard ups support for state's development

The Asian Development Bank (ADB) will extend up to $250 million for a metro rail system in Bangalore that will bring substantial economic and environmental benefits to the fast-growing city.

ADB lends $250 mn to Namma Metro

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