Volatility in WPI inflation due to supply shocks makes it less effective.

Consumer price index more relevant for policy: RBI study

Business Standard

National Housing Bank plans to introduce ratings for intermediaries involved in the housing finance market, Chairman and Managing Director S Sridhar said on Thursday.

NHB looks at rating of intermediaries in housing finance

HSBC Holdings, Europe&rsquo;s biggest bank, and rivals including Barclays and Standard Chartered might be forced to move their headquarters out of Britain if the government decided to break up the banks, said Stuart Gulliver, chairman of Europe, West Asia and Global Businesses at HSBC.

Break-up may force banks to move from UK: HSBC

The market saw fewer issuances of certificates of deposit (CDs) on Thursday as mutual funds preferred to remain on the sidelines due to limited inflows to their schemes, dealers said.

Short-term issuances fall

State Bank of India on Thursday opened an exclusive branch -- the first-of-its-kind in the country-- for the ultra high networth individuals (HNIs) here.

SBI opens exclusive branch in Hyderabad for ultra HNIs

China and India on Thursday urged stability in major reserve currencies and in nations&rsquo; macro-economic policies to help cement the global recovery.

China, India urge stability of reserve currencies

Royal Bank of Scotland (RBS) Group, Britain&rsquo;s biggest government-controlled bank, will eliminate 3,500 UK jobs and close 10 offices to reduce costs.

RBS to cut about 3,500 British jobs, close offices

Banking behemoth Citigroup was keen to be a part of India&rsquo;s growth story and would continue to focus on microfinance and support initiatives in the areas of financial inclusion and education, Chief Executive Officer Vikram Pandit has said.

Citi to support financial inclusion, microfinance in India

Press Trust of India

After wooing the urban poor here with its 'One Rupee Bank' account, State Bank of India (SBI) is now aggressively targeting the crorepatis.

At this SBI branch, it takes Rs 1 crore to open an account

Amid a surge in the number of bank scams, including the recent Rs 400-crore Citibank fraud, the Reserve Bank of India (RBI) is considering putting in place a system that will allow it to directly monitor all transactions at various banks.

RBI mulls new ways for direct information flow from banks

The interest rate in the overnight inter-bank market may see pressure to move up, due to demand for funds in the first week of the new reporting fortnight.

Tight liquidity likely to push call rate up

For speedier transfer of funds electronically, banks will henceforth demand only the customer&rsquo;s account number for such transactions, ignoring other details like names.

Now, a/c number sole criterion for e-fund transfers

Tamil Nadu has become the second largest state after Andhra Pradesh in the self-help group (SHG)-bank linkage programme launched by the National Bank for Agriculture and Rural Development (Nabard).

SHG-bank linkage in Tamil Nadu second after AP

RBI will carry out two surveys &mdash; on industrial outlook and on capacity utilisation by the manufacturing sector. It has mandated two institutions, the Delhi-based Centre for Research Planning and Action (CRPA) and the Mumbai-based Centre for Monitoring India Economy (CMIE), for the task.

RBI commissions surveys to gauge growth

The counsel of Shivraj Puri, alleged mastermind behind the Rs 300-crore Citibank fraud, moved a local court today, seeking permission for a private meeting with his client.

Puri's counsel moves court, seeks meeting with client

A study of 21 large banks in the country has found that foreign banks, led by Citi India, have the highest employee cost and HDFC has the lowest, with the state-run lenders in the middle.

Staff cost: MNC banks pay highest, HDFC lowest; IOB tops PSBs

State-run bank State Bank of India has revised the Base Rate upwards by 40 basis points (bps) from 7.60% p.a. to 8.00% p.a.

SBI revised base rate up by 40 bps to 8%

State lender Punjab National Bank today said Rakesh Sethi has been appointed as the bank's executive director for a period of five years.

PNB appoints Rakesh Sethi as executive director

In a bid to secure new growth engines, South Korean banks plan to increase their operations in overseas markets including opening of five branches in India this year, the financial watchdog said today.

S Korean banks seek overseas expansion this year

Bank of America (BofA) will make a provision for charges worth $3 billion in the fourth quarter, related to repurchase of bad loans from mortgage lenders Freddie Mac and Fannie Mae.

BofA reaches $3 bn settlement with Freddie Mac, Fannie Mae

Mutual funds preferred to remain on the sidelines today due to limited inflows in their schemes, dealers said.

Banks raise around Rs 230 crore via CDs

Finance News: Latest investing news and finance headlines straight from Business Standard.

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