The Export-Import Bank of India (Exim Bank) has entered into an agreement with Malawi for providing a $50 million line of credit for financing exports and consultancy services for projects in the African nation.

Exim Bank to provide line of credit to Malawi

Press Trust of India

Country's largest lender State Bank of India (SBI) today said it has raised Rs 5,496.9 crore from retail bonds to fund its expansion plans.

SBI raises Rs 5,497 cr from retail bonds

HDFC is the only Indian company which has managed to find a place in the world's most ethical companies' list this year.

HDFC sole Indian firm among world's most ethical companies

The Mumbai-based custodian released on Wednesday a payment of Rs 2,195 crore, recovered from the sale of Harshad Mehta&rsquo;s assets to the Income Tax department and the State Bank of India. This disbursement, made against the outstanding dues of Harshad Mehta group, is the largest and one of its kind in the country.

I-T, SBI get Rs 2,195 cr from Harshad Mehta's assets

Business Standard

A day before the Reserve Bank of India (RBI) announces its mid-quarter review of monetary policy, banks have borrowed Rs 1,33,205 crore from the former.

Advance tax outflows squeeze out liquidity

PTC India Financial Services (PFS), a unit of PTC India, on Wednesday said it would allot 2.35 crore shares to anchor investors at Rs 28 apiece, the upper end of its IPO price band.

2.3 crore PFS shares for anchor investors

Mukesh Ambani is set to become the first non-American citizen to join the board of Bank of America Corporation, following his appointment as a director of the bank.

Bank of America Corp appoints Mukesh Ambani as director

Also intends to bring actively managed on-shore funds to India.

Goldman buys Benchmark AMC

Nearly 170 deals worth $6 billion took place in this space last year.

M&As become big for PE-backed firms

State Bank of India plans to open financial inclusion centres (FIC) in all the 23 districts of the state and appoint business correspondents and business facilitators in every village, said its Hyderabad circle chief general manager, Rakesh Sharma.

SBI opens FI centre at Tadepalli branch

Life Insurance Corporation of India, the country largest insurer, is in talks with the government to modify its investment norms to diversify the risk.

More leeway for LIC in corporate investments

SKS Microfinance, the country&rsquo;s largest microfinance lender, on Wednesday said it would not participate in the corporate debt restructuring (CDR) programme as suggested by its lenders, owing to availability of sufficient funds to repay loans.

SKS not to participate in debt recast programme

India&rsquo;s largest mortgage lender, Housing Development Finance Corporation (HDFC), has been included by New York&rsquo;s Ethisphere Institute in its list of the world&rsquo;s most ethical companies. HDFC is the only Indian company in the list.

HDFC one of world's most ethical firms

Owing to improved asset quality, increasing net interest margins and higher operational efficiency, non-banking financial companies (NBFCs) are well poised to match banks&rsquo; non-mortgage or unsecured retail lending portfolio in a couple of years.

NBFCs' loan portfolio to touch Rs 4 lakh crore in two years: Crisil

Starting with Power Finance Corp, the government is all set to launch its disinvestment programme for the next financial year. The former may file the regulatory papers with Sebi for the 20 per cent follow-on public offer this week.

PFC to file papers for FPO

But legal experts say recovery is going to be a long-haul process

KFA's collateral enough to cover dues, say banks

With a thrust on financial inclusion, banks are focusing on expanding their reach in a cost-effective way. This has spawned the need for heavy investment in technology and electronic payment channels.As banks are looking at such infrastructure as ancillary assets, wanting to focus on core activity, theyâ€™re reluctant to commit their resources here, throwing space open for other players. Much of this activity is getting outsourced to the private sector.Automated Teller Machines (ATMs), a key segment in electronic payments, are set to more than double in number over the next two to three years. At present, they number a little over 1,00,000, according to National Payments Corporation data.A senior public sector bank official said there was a robust business opportunity for private equity (PE) players. The stable fee income flow from banks that use the services of ATM companies is a glue. Given the low penetration of ATMs, this revenue is expected to m

Electronic payment space continues to lure investors

For its investments in the Indian real estate, Blackstone seems to follow adage â€œslow and steady wins the raceâ€ quite ardently.Till 2011, the real estate segment recorded foreign direct investment (FDI) of about $14 billion (Rs 74,000 crore). During the boom years of 2005-2008, Blackstone, which manages $57 billion (Rs 3,02,100 crore) of real estate assets globally, invested only Rs 35 crore for a 35 per cent stake in Bangalore-based property management firm Synergy Property Development Services (April 2008). Two years later, Blackstone bought Bank of America Merrill Lynchâ€™s $2-billion Asia real estate portfolio, which included $400 million of Indian properties.While about 45 of 60 global funds such as Goldman Sachs, Marathon, Lehman Brothers and Wachovia exited Indian assets after the global slowdown in the last two years, Blackstone has steadily built its realty portfolio in India.While Blackstone invested $471 million in the Indian real esta

Blackstone bets on low-risk realty assets

Power Grid Corporation of India is planning to raise Rs 2,000-3,000 crore this week by way of private placement of bonds, said a merchant banker familiar with the plans of the company. According to the merchant banker, it will be a strip bond and the maturity tenure will range between four and 15 years. The bidding starts Thursday.

Power Grid Corporation of India to raise Rs 3,000 crore

BS Reporter

PSU banks would require the additional capital to meet Basel-III global capital risk norms

Govt may infuse Rs 20,000-cr capital in PSU banks in FY14

The committee had been set up to review existing policies and procedures relating to bank finance for exports

RBI committee to review facilities to exporters

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