Continuing with its examination into 2G spectrum allocation, Parliament&rsquo;s Public Accounts Committee has called Reserve Bank of India Governor Duvvuri Subbarao on Thursday to record evidence in connection with the issue.

Subbarao to appear before PAC

Press Trust of India

The interest rates on certificates of deposits (CDs) in one-year segment may rise above 10 per cent this week. Last week, they were at 9.40-9.90 per cent.

CD rates seen above 10% this week

Business Standard

National Housing Bank (NHB), the regulator for housing finance companies (HFCs), may increase its refinance rate. This rate hike would come in less than a week after the Reserve Bank of India (RBI) raised key policy rates by 25 basis points.

NHB sees upward bias in refinance rates

State Bank of India Chairman O P Bhatt says the bank did differ with the Reserve Bank of India&rsquo;s views on a host of issues, but it was unfair to blame the country&rsquo;s largest bank for taking care of the interests of the aam aadmi (common man).

SBI chief stands up to RBI

Central bank RBI is looking to clear its offices from the heavy paper-load and digitise all the documents lying in its various offices.

RBI aims to digitise files

The Reserve Bank of India (RBI) clampdown on the main conduit used for settling trade transactions with Iran has affected trade with the Persian Gulf nation, Commerce Secretary Rahul Khullar has said.

'RBI move hitting trade with Iran'

The bank which has achieved a total business of Rs 4600 crore in the state by the end of December 2010, expects to achieve the target through ramping up its branch network.

PNB targets Rs 10,000 cr biz in Orissa by March 2012

Credit card usage over phone will need an additional security layer from tomorrow, as the RBI has made it mandatory for customers to get a single-use password from their banks for every such transactions.

Extra security layer for phone banking effective tomorrow

The All India Bank Officers' Confederation (AIBOC) has demanded that all banks including the new generation private sector banks and foreign banks need to participate in the inclusive banking process.

Pvt banks should participate in inclusive banking: AIBOC

Banks have sought capital subsidy and other incentives from the Uttarakhand government to complete the financial inclusion process in the hill state where most of the villages are situated in remote areas.

Banks seek capital subsidy for financial inclusion

It had a net profit of Rs 275.39 crore during the same quarter of last fiscal, Andhra bank said in a filing to the Bombay Stock Exchange.

Andhra Bank Q3 net up 20% to Rs 331 cr

The rising cost of funds is likely to hit margins and impact the profitability of the Indian banking sector in 2011, according to a report by global credit ratings agency Fitch.

Rising cost of funds to hit bank margins: Fitch

&quot;LIC has completed 2,52,44,846 policies and received Rs 34,137.12 crore in First Premium Income in the current financial year,&quot; the country's largest insurer said in a statement here.

LIC crosses 2.5 cr policies target

Within a week of the Reserve Bank of India (RBI) hiking key policy rates, several lenders, including Punjab National Bank (PNB), today announced an increase in their deposit ad lending rates by up to 100 basis points.

PNB, PSB, Allahabad Bank raise deposit, lending rates

While most sectors of the economy are seeing a sluggish loan demand due to high interest rates, credit card spending seems to have bucked the trend.

Credit card spending on the rise

Banks&rsquo; loan growth continues its southward journey, as loan growth on a year-on-year basis fell to 17.67 per cent as on this November 18, the lowest since May 2010. The Reserve Bank of India predicts an 18 per cent loan growth for the current financial year.

Credit growth hits new low, deposit growth sluggish

The Reserve Bank on Wednesday directed banks to ensure opening of Aadhaar-enabled banks accounts for beneficiaries of the Mahatma Gandhi National Rural Employment Guarantee Scheme and other social security schemes, for facilitating electronic transfers.

Ensure opening of Aadhaar-enabled accounts, RBI asks banks

Real estate lender Adhar Housing Finance has plans to disburse Rs 10 crore under its different loan categories in the state by March 2012, said Harshil Mehta, chief executive officer of the company.

Adhar sees Rs 10 cr home loan portfolio by March 2012

Saudi businessman Ghazi Abbar, who claims in an affidavit he lost $383 million of his family&rsquo;s fortune on investments with Citigroup Inc, was sold one of the transactions even though the bank questioned his ability to properly manage them, according to an internal memo.

Citi deal haunts Pandit as Saudis claim $383 mn

At a time when the government and regulators are emphasizing inclusion and increase in credit delivery to those without access to formal sources of finance, private sector banks are found to have low credit-deposit ratios in rural areas as compared to public sector counterparts.

Improve credit delivery in rural areas: RBI to pvt banks

Reserve Bank of India (RBI) governor D Subbarao said inflation would &ldquo;certainly&rdquo; decline by the end of this financial year, to an extent that &ldquo;will provide relief to the common men&rdquo;.

Inflation to decline by March, says Subbarao

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