State owned Bank of Maharashtra (BoM) today slashed benchmark lending rate by 0.25% to 10.25%, making loans including home and corporate cheaper for borrowers.

BoM cuts lending rate by 0.25%

Press Trust of India


	
Higher provisions on the back of deteriorating asset quality continue to hurt profitability of city-based public sector banks.

Asset quality stress persists for UCO Bank, UBI

Business Standard

Kotak Mahindra Bank today said it has acquired business loan portfolio from Barclays Bank&#39;s India branch and Barclays Investment and Loan.

Kotak Mahindra Bank buys business loans book of Barclays India

Vijaya Bank today cut its base rate by 0.25% to 10.20% with immediate effect.

Vijaya Bank cuts base rate by 0.25 pc

Dhanlaxmi Bank on Thursday reported a net profit of Rs 4.39 crore for the third quarter ended December, 2012. It had reported a loss of Rs 36.87 crore in the corresponding quarter of the previous financial year.

Dhanlaxmi posts profit of Rs 4.39 cr

State Bank of Hyderabad reported an increase of 6.8 per cent in net profit to Rs 321.72 crore for the quarter ended December 31, 2012, as compared with Rs 301.25 crore in the corresponding quarter previous year. Total income for the quarter under review grew 13.07 per cent to Rs 3,374.05 crore from Rs 2,984.06 crore, slightly impacted by the negative growth in other income. Net interest income was up 15.47 per cent to Rs 974 crore from 845.29 crore in the corresponding previous quarter while interest income too increased 15.54 per cent.

SBH net up 6.8%

On the bank&rsquo;s results, Chairman and Managing Director K R Kamath said the increase in net profit was due to a fall in provisions against non-performing assets, higher cash recovery and a drop in the cost of funds.

PNB posts 13.53% increase in profit

ICICI Bank, India&rsquo;s largest private sector lender, on Thursday said its consolidated net profit for the quarter ended December 2012 increased 22 per cent to Rs 2,645 crore compared to the corresponding period of the previous year, owing to an improvement in the banking and life insurance businesses.

ICICI Bank consolidated net up 22%

Indian Overseas Bank (IOB) reported a 7.60 per cent growth in net profit during the third quarter ended December 2012 at Rs 116.50 crore as against Rs 108.27 crore in the same period last year.

IOB net profit rises 7.6%

NHAI approved a 74 per cent equity takeover by IDFC in the Delhi-Gurgaon Expressway Project. Current concessionaire DSC Ltd will have 24.8 per cent equity and Jaypee Group will have 1.2 per cent.

IDFC to handle Gurgaon expressway project

The beleaguered mining sector in Odisha which is facing a series of allegations mostly over illegal ore excavation and transport, can hope to wriggle out of the mess with the state government engaging World Bank to prepare a project report on the sector.The report, expected to be submitted to the state government soon, will detail the areas where the World Bank can offer its expertise to the mining sector.

World Bank to submit report on Odisha mining sector

Oriental Bank of Commerce on Thursday raised the deposit rates by up to 2.25 per cent for FDs of short-term maturities. The rate for maturities ranging from a month to 45 days has been raised to 7.25 per cent from five per cent. The revised rates, to apply for deposits below Rs 1 crore, will come into effect from Friday.

OBC raises FD rates

Deutsche Bank plunged to a euro 2.6-billion ($3.5 billion) quarterly loss after it took charges aimed at drawing a line under a series of scandals and cleaning up its balance sheet without asking shareholders for cash. Germany's biggest lender said on Thursday the pretax loss was partly due to a euro1-billion hit to cover legal risks, including its potential exposure to an industry-wide scandal involving the fixing of benchmark interest rates.

Deutsche Bank takes $3.5-bn loss

Reuters 

Allahabad Bank on Thursday said its net profit for the third quarter fell 44.5 per cent from a year earlier to Rs 310.83 crore on account of higher provisions and lower net interest income.

Allahabad Bank net profit falls 44.5%

Union Bank of India posted a 53.81 per cent year-on-year growth in net profit for the third quarter at Rs 303 crore on lower base and robust recovery and upgradation of non-performing assets.

Union Bank net zooms 53.81%

The Reserve Bank of India (RBI) has prepared a comprehensive financial literacy guide to help in creating financial awareness and educating common people on the management of money, the importance of savings, advantages of saving with banks, other facilities provided by banks and benefits of borrowing from banks.

RBI comes up with financial literacy guide

Following the cut in repo and cash reserve ratio (CRR) by the Reserve Bank of India (RBI), two more large public sector lenders pared their base rates by 25 basis points (bps).

More banks cut lending rates

To discourage the use of cheques, a discussion paper by the Reserve Bank of India (RBI) suggested today that banks charge for cash withdrawal and deposit through cheques. And, that government agencies do away with convenience charges for online payment of utility bills. Plus, discouraging cheque collection boxes at public places.

RBI discussion paper on bringing down cheque use

India ratings said major NBFCs&rsquo; robust pre-provisioning profits (gross profits) provides a strong cushion against rising credit costs and elevated funding costs and there will be only limited impact of proposed regulatory changes on these companies and in the long term will strengthen the sector.

India Ratings' stable outlook for NBFCs

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