The finance ministry and the Reserve Bank of India (RBI) will review developments on the rupee front at a meeting of the sub-committee of the Financial Stability and Development Council (FSDC) this Thursday, but extreme steps to arrest the fall are unlikely.

FSDC meet on Thursday to discuss rupee fall, state of markets

Business Standard

Bank lending to the priority sector grew at a mere 10% in October this year, on an annual basis, on account of lower offtake by agriculture and MSME segments as well as decline in micro credit.

Credit to priority sector slows to 10% in Oct

Press Trust of India

In order to facilitate its corporate customers who have been hit by dollar appreciation and slowdown, public sector bank &mdash; Indian Overseas Bank is planning to restructure the SME and corporate loans. The bank has received applications from its customers regarding restructuring of loan.

IOB plans to restructure SME and corporate loans

The priority of the central bank is to keep the inflation low and stable. Certain measures undertaken by the Reserve Bank of India to control inflation may have short term impact on the growth of economy, but this needs to be accepted as there is no long term tradeoff between growth and inflation, says Subir Gokarn, Deputy Governor, RBI.

RBI priority is to keep inflation low, says Gokarn

The Indian rupee fell marginally by 4 paise to Rs 51.45 per US dollar in early trade on the Interbank Foreign Exchange today amid increased demand for the American currency from importers.

Re down 4 paise vs dollar in early trade

&quot;The said provision of Minimum Business Requirements is now being extended to all corporate agents engaged with non life insurance companies for soliciting the insurance business,&quot; the insurance regulator said in a circular.

Irda norms for corporate agents of non-life insurance cos

The Reserve Bank of India's (RBI) recent guidelines on the MFI sector will prove to be a positive and structurally strengthen it over the long run, ratings agency Crisil today said.

RBI guidelines on MFI sector positive: Crisil

Foreign, private sector banks announce a slew of initiatives, explore inorganic opportunities.

Banks upbeat on credit card biz

Rural Electrification Corporation (REC) plans to raise $250 million (about Rs 1,290 crore) through syndicated loans this financial year. The power sector lender has already secured the government's nod to raise funds.

REC to raise $250 mn via overseas loan

Citigroup Inc Chief Executive Officer Vikram Pandit will cut about 4,500 jobs in coming quarters as he seeks to reduce costs amid slumping revenue and &ldquo;unprecedented&rdquo; market conditions.

Citigroup to cut 4,500 jobs

Even as most microfinance institutions (MFIs) have welcomed the Reserve Bank of India (RBI)'s move of bringing them under its direct regulation as a non-banking financial company (NBFC), the former have expressed concerns over meeting capital requirements prescribed in the guidelines issued by RBI.

MFIs concerned over raising funds post RBI guidelines

Currently, cooperative banks are liable to pay a flat 30 per cent income tax on their earnings. The income tax waiver for cooperative banks, which was in force since independence, was removed in 2006-07 and the amendment to Finance Act, 2006 brought them under the income tax net by the-then congress-led UPA government.

Coop banks in state to go on one-day strike

The Reserve Bank of India (RBI) on Wednesday said West Bengal would not be given any special relaxation for borrowing through the ways and means advances (WMA).

No relaxation for Bengal through WMA: RBI

Barclays Bank is expected to put its India retail assets on the block. The British lender has decided to focus on profitable business ventures such as wealth management and investment banking.

Barclays may put Rs 3,000-cr India retail assets on block

Microfinance institutions (MFIs) would now actively look at diversifying their risk profiles by entering different asset classes, as their profitability prospects have moderated considerably.

Micro lenders diversify portfolios, says Crisil

SKS Microfinance, the only listed microfinance institution (MFI) in the country, has decided to cap its return on assets from micro lending business at three per cent, a move aimed at regaining the lost confidence of regulators and borrowers in the sector.

SKS set to cap return on assets at 3%

IDBI Bank has struck a deal with ICICI Bank to provide credit protection to the country's largest private lender for bonds worth Rs 10 crore.

IDBI Bank underwrites first credit deposit swap deal

Credit default swaps (CDS) are likely to evolve with time and once developed, it would give a boost to the corporate debt market, industry experts said today.

CDS to boost corporate debt market: experts

As part of its strategy to ease the liquidity crunch, the Reserve Bank of India (RBI) today bought bonds worth Rs 9,092.9 crore under its open market operations (OMO) against a target of Rs 10,000 crore.

RBI buys bonds worth Rs 9,000 cr under OMO

The Dhanlaxmi Bank Officer's Organisation on Thursday called off its agitation, reaching a settlement with the management over various demands, including bonus, increments, pension and trade union rights.

Dhanlaxmi Bank officers call truce with management

Yields on the 10-year benchmark government bonds fell by 45 basis points in less than a month, owing to liquidity infusion by the central bank through bond purchases and the recent buzz of a possible reduction in the cash reserve ratio (CRR) in the market. This was despite senior central bank officials reiterating their anti-inflationary stance.

Bond yields at 2-month low on RBI's liquidity steps

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