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

Press Trust of India

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

Business Standard

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

Power Finance Corporation (PFC) may not be able to stick to its fund-raising plan for this financial year. The government-controlled power sector lender has deferred its $1-billion overseas fund-raising plan indefinitely.

PFC going slow on fund raising

The Reserve Bank of India is not planning to change the methodology used to arrive at the reference rate of the rupee against the dollar and euro, its deputy governor H R Khan said on Wednesday. The country&rsquo;s central bank, though, will seek feedback on the matter, if needed.

No change in reference rate methodology for now

State-run lender, Punjab National Bank today announced revised interest rates on foreign currency deposits.

PNB revises foreign currency deposits rates

RBI today operationalised new guidelines on credit default swap (CDS), directing market participants to report such trades within 30 minutes to the Clearing Corporation's online repository.

Credit Default Swap norms operational from today

British lender RBS India today claimed that the Reserve Bank of India (RBI) has agreed to clear its proposal to sell commercial and retail assets here to HSBC India.

RBI agreeable to asset sale to HSBC: RBS

The Insurance Regulatory and Development Authority (Irda) today came out with guidelines allowing life insurance companies, which have been in business for over 10 years, to raise funds from the public through IPOs.

Irda notifies IPO norms for life insurers

Continuing its efforts to bring liquidity to the cash-starved system, the Reserve Bank of India (RBI) today bought Rs 5,782.95 crore bonds under open market operations, against the target of Rs 10,000 crore.

RBI buys Rs 5,783 cr bonds under OMO

Private sector lender Axis Bank today said it would raise Rs 1,500 crore through bonds to fund its business growth.

Axis Bank to raise Rs 1,500 cr from bonds

Power Finance Corporation (PFC) would, in mid-December, invite bids to set up a private equity fund. The power sector lender also plans to set up a trust and is scouting for a fund manager.

PFC to invite bids for $1-bn PE fund in mid-December

Promoters of many small and micro enterprises are borrowing money from banks in their personal capacity to finance business ventures, as lenders become cautious in offering credit to these firms due to the uncertain macro-economic environment.

SME promoters borrow in personal capacity for biz

Private sector banks that have branches in the Northeast faced criticism from the industry for their alleged reluctance to lend to businesses in the region. Besides &quot;engaging in retail activity&quot;, the industry alleged the role of private sector banks was &quot;negligible&quot; in the Northeast.

Private banks in Northeast come in for flak

Royal Bank of Scotland (RBS) on Thursday said the Reserve Bank of India (RBI) had not rejected its proposal to sell the bank&rsquo;s retail and commercial banking businesses in India to Hongkong and Shanghai Banking Corporation (HSBC).

RBI not opposed to RBS-HSBC deal

The Federal Reserve-led global effort to ease borrowing costs for financial firms shows both the central bank&rsquo;s power to jolt markets, and the limits of its ability to alleviate the European debt crisis.

Dollar-funding cut by Fed shows limits of action

Public sector lender Indian Bank has revised its Foreign Currency Non-Resident (Banking) and Non-Resident (External) term deposit rates with immediate effect.

Indian Bank revises FCNRE, NRE rates

The Reserve Bank of India (RBI) today approved creation of a separate category of non-banking financial companies for the Micro Finance Institution (MFI) sector and specified that such institutions need to have a minimum net owned fund of Rs 5 crore.

RBI notifies separate NBFC category for MFIs

Gujarat SLBC report shows Rs 1200-crore growth during September quarter at Rs 23,990 crore over June quarter of this fiscal.

NRI remittances soar as rupee slides

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