Sharp rise in interest income and control over interest expenses helped IDBI Bank post a 69 per cent rise in net profit at Rs 429 crore for the quarter ended September. It had a net profit of Rs 254 crore in the year-ago period.

IDBI Bank net up 69%

Business Standard

Supported by strong growth in net interest income (NII) and core fee-based income, state-run Bank of Baroda&rsquo;s net profit rose 60.7 per cent for the quarter ended September.

BoB net jumps 61%

State-run Andhra Bank on Thursday reported a net profit of Rs 303 crore for quarter ended September, a 10.58 per cent increase compared to Rs 274 crore in the year-ago period. Revenues stood at Rs 1,941.1 crore, up 24.61 per cent from Rs 1,557.72 crore.

Andhra Bank profit rises 10.58%

Dhanlaxmi Bank on Thursday said it would acquire a 15 per cent stake in Destimoney Securities Pvt Ltd (DSPL).

Dhanlaxmi to buy 15% in Destimoney Securities

With real credit pick-up yet to take place, bankers expect the Reserve Bank of India (RBI) to maintain status quo, as hardening of interest rates may hamper loan demand.

Banks hope for status quo in mid-term policy review

The market saw few issuances of short-term money instruments on Thursday because the demand from fund houses were thin on limited inflows in their schemes, dealers said.

Short-term debt rates up 10 bps

Liquidity squeeze and policy-rate hike fears weigh heavy on borrowing costs.

Short-term rates at 2-year high

Steve Miller, who was promoted to chairman of American International Group three months ago, will be interim chief executive officer of the bailed-out insurer if Robert Benmosche steps down while fighting cancer.

AIG names Miller interim chief

On the occasion of the festival season, Punjab National Bank (PNB) has launched two new retail term deposit schemes for 555 days and 1,000 days at an interest rate of 7.50 per cent and 7.60 per cent respectively.

PNB launches festive season deposit scheme

UCO Bank's net profit for the quarter ended September 30, 2010, declined 42.61 per cent to Rs 119.19 crore, as against Rs 207.72 crore in the same period last year, the bank said today in a filing to the Bombay Stock Exchange (BSE).

UCO Bank Q2 net dips 42% to Rs 119 cr

Press Trust of India

A sub-committee appointed by the Reserve Bank of India (RBI) will examine recovery mechanism of microfinance institutions (MFIs) and their interest rate practices, amid criticism of these lenders charging exorbitant loans rates and using strong arm tactics for recovery.

RBI panel to probe recovery mechanism of MFIs

It had a net profit of Rs 177.8 crore in the same quarter of the last fiscal, Syndicate Bank said in a filing to the Bombay Stock Exchange.

Syndicate Bank Q2 net up 34% to Rs 237 cr

Ending a five-week surge, the country's forex reserves went down by $1.034 billion to $295.40 billion for the week ended October 22, due to a fall in foreign currency assets.

Forex reserves fall $1.034 bn to $295.40 bn

Standard Chartered Bank today said that it was among the first to transact in the currency options market on the National Stock Exchange (NSE) today.

StanChart among first to trade in currency options on NSE

High non-performing assets (NPA) dragged UCO Bank's net profit by 42.78 per cent in the second quarter of the present financial year to Rs 119 crore, against Rs 208 crore in the same period last year.

High NPA drops UCO Bank net profit by over 42%

ICICI Bank posted a 22 per cent increase in net profit to Rs 1,395 crore in the three months ended September 30, aided by a sharp fall in provisions for bad loans. The bank&rsquo;s shares rose 6.5 per cent on the Bombay Stock Exchange to Rs 1,161.65, after profit figures exceeded analysts&rsquo; expectations.

ICICI Bank net up 22% on lower provisions

Indian Overseas Bank (IOB) has reported a 17.10 per cent increase in net profit in the quarter ended September 30 to Rs 206.15 crore as against Rs 176.04 crore a year ago. Total income rose 5.21 per cent to Rs 3,074.73 crore from Rs 2,922.34 crore last year. Non-interest income stood at Rs 274.54 crore as against Rs 372.39 crore last year.

IOB, Syndicate Bank & UCO Bank Q2 results

Interbank call money rates surged to more than 12 per cent this morning, even after banks on Friday net borrowed Rs 1,17,660 crore from the Reserve Bank of India (RBI) repo window &mdash; the highest in two years. Around noon, RBI announced measures to cool the market.

RBI calms jittery market, as call rates top 12%

The High Court today granted two weeks to microfinance institutions in the state to get themselves registered with their respective District Rural Development Agency (DRDA).

MFIs get 2 more weeks to register in AP

The new rates for one to five years maturities are 1.76 per cent, 1.53 per cent, 1.78 per cent, 2.12 per cent and 2.47 per cent for US dollars, 2.48 per cent,2.32 per cent, 2.58 per cent, 2.88 per cent&nbsp; and 3.16 per cent for GB pound and 2.51 per cent, 2.60 per cent, 2.81 per cent, 3.00 per cent and 3.20 per cent for EURO, respectively, an official said today.

SBBJ revises FCNR, NRE int rates

The country's largest public sector lender, State Bank of India, today said it expects government approval for the Rs 20,000 crore rights issue proposal in the next two months.

SBI expects govt nod for Rs 20,000 cr rights issue by Dec

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