State Bank of India&rsquo;s proposed joint venture with Bharti Airtel has fallen through after the Reserve Bank of India expressed apprehensions over letting a telecom player into the banking space through equity participation.

SBI-Airtel JV for financial services falls through

Business Standard

State Bank of India (SBI) and Kotak Mahindra Bank today raised interest rates on non-resident deposits.

SBI, Kotak raise NRE interest rates

Government today expressed hope that it will be able to introduce the Lok Pal Bill in Rajya Sabha this afternoon.

Govt hopeful of introducing Lok Pal Bill in RS

Press Trust of India

Non-food credit has grown 17.2% to Rs 44 lakh crore during 12 months to December 16, according to the Reserve Bank of India (RBI).

Credit offtake up 17.2% as of mid-Dec

The country's largest private lender ICICI Bank and state-run IDBI Bank today hiked the interest rate on rupee deposits by non-residents.

ICICI, IDBI Bank up NRE deposit rates

The Kolkata-based retail finance player Magma Fincorp is hopeful of getting general insurance licence in the first half of the next year.

Magma Fincorp hopeful of getting insurance licence next year

The Reserve Bank of India (RBI) today allowed cooperative and primary urban cooperative banks to fix their interest rates on various non-resident deposit schemes.

RBI allows coop banks to fix NRE deposit rates

Raise interests on these deposits for the second time since rates were deregulated by RBI.

Kerala-based banks up NRE deposit ante 

Cash-starved microfinance institutions (MFIs) are queueing to raise foreign currency loans in the new year. SKS, Share, Bandhan and Ujjivan plan to raise up to $10 million each in the coming months.

Top MFIs plan to raise funds through ECBs

Good response may allow the authority to close the issue this week.

NHAI tax-free bond issue subscribed two times

The Securities and Exchange Board of India (Sebi) on Wednesday cracked down on promoters, key officials and directors, including independent directors, of issuer firms, merchant bankers and stock market operators involved in several irregularities in seven recent initial public offerings (IPOs). Over 100 entities involved in these IPOs are banned from the securities market with immediate effect.

Sebi bans promoters, merchant banks for irregularities in 7 IPOs 

At the peak of the interest rate rise cycle, the growth in bank advances fell to a 21-month low, according to data released by the Reserve Bank of India (RBI). High lending rates, coupled with the slowdown in fresh investments and an uncertain economic environment, were the major reasons that capped credit offtake.

Credit growth at 21-mnth low deposits continue to rise

The Obama administration declined to brand China a manipulator of its exchange rate while calling the yuan undervalued and vowing to press for further appreciation of the currency.

US set to press for appreciation of yuan 

Federal Reserve chairman Ben S Bernanke could double press briefings to improve understanding of policy changes that may include signaling interest rates would stay near zero longer, economists said.

Bernanke openness drive may add briefings

Deepak Parekh, chairman of Housing Development Finance Corporation (HDFC), has resigned from the board of Hindustan Unilever (HUL), with effect from December 27, the company said on Wednesday.

Parekh resigns from HUL board

Auto and home loan borrowers can look forward to better days in the New Year as interest rates, which shot up during 2011, are poised to moderate.

2011 revisted | Banks look set to moderate interset rates

As part of the strategy to infuse liquidity in the system, the Reserve Bank of India (RBI) today bought bonds worth Rs 8,109.48 crore under open market operations (OMO), much lower than the Rs 12,000 crore target.

RBI buys bonds worth Rs 8,109 cr under OMO

The Competition Commission of India (CCI) has given approval to the proposed acquisition of credit card business of Barclays India by the Indian arm of Standard Chartered Bank.

CCI okays acquisition of Barclays' credit card biz by StanChart

State-owned lender IDBI Bank today said the government was considering capital support to the bank to boost up its capital.

IDBI Bank seeks capital support from govt

City-based Kanakamahalakshmi Cooperative Bank Limited (KCB) has got approval from the Reserve Bank of India to open branches across Andhra Pradesh.

Co-op bank to up presence 

Govt stake to rise to 64% and Tier-I to 9% after Rs 6,000-crore fund infusion.

SBI may opt for QIP in FY13 

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