European banks are planning to sell more than euro 30 billion ($40 billion) of assets as the debt crisis increases the need to raise capital, according KPMG LLP.

Banks to sell $40 bn of assets amid EU crisis

Business Standard

Spain had its credit rating cut two levels by Fitch Ratings, which cited the &ldquo;intensification&rdquo; of the euro crisis, slower Spanish growth and regional finances as risks to the nation&rsquo;s debt outlook.

Fitch cuts Spain's rating by 2 notches

Market-linked policy holders set to gain more units.

Irda asks insurers to follow uniform pricing

Two months ago, Standard &amp; Poor's downgraded the bond rating of the United States government. So far, at least, the move has done wonders for investors in the very bonds that the rating agency disparaged.

After a rating downgrade, US treasuries turn a profit

The sharp fall in the value of the rupee against the dollar in the last one month has left policymakers worried, even as the Reserve Bank of India (RBI) says the fall in the currency is due to global changes and nothing specific in the country is driving the fall. The issue is likely to come up for discussion at the next meeting of the Financial Stability and Development Council (FSDC) this month.

FSDC to review fall in rupee

Dena Bank on Saturday announced a 25-basis-point reduction for floating home loans and car loans schemes. The offer would be valid until December 31, the bank said on Saturday. On September 21, the bank had cut rates on new housing and car loans by 25 basis points and processing fee by 50 per cent.

Dena Bank cuts floating loan rates 

As many as 8 cooperative banks failed in this fiscal so far, resulting in credit insurance company DICGC paying a little over Rs 143 crore to depositors.

8 cooperative banks go belly up this fiscal

Press Trust of India

Downplaying Moody's decision to downgrade rating of State Bank of India, a senior Finance Ministry official said the government will not fast-track recapitalisation of the PSU bank.

No need to fast-track recapitalisation of SBI: FinMin 

All villages with a population of 2,000 and above in Himachal Pradesh will have banks by March next year , a top Reserve Bank Of India (RBI) official said here.

48 villages in Himachal to have banks by March

Listen to the economic debates of the past couple of years, and it&rsquo;s tempting to conclude that no progress has been made in the field in over half a century. There&rsquo;s John Maynard Keynes on the one side, arguing for deficit spending to offset the aftereffects of a once-in-a-lifetime financial crisis. On the other side there&rsquo;s Ludwig von Mises (his fellow Austrians Joseph Schumpeter and Friedrich von Hayek seem too moderate for the role), thundering that all government intervention in the economy is doomed to failure.

How the dismal science stopped being dismal

Yields on government securities are expected to inch up further on higher-than-planned supply in the second half of the current financial year. Last week, the yields on the ten-year benchmark government bond climbed 13 basis points to close at 8.57 per cent, as markets prepared for an auction after a month&rsquo;s gap.

Bond yields to go up as govt borrowing resumes 

Industry body Assocham has opposed the government&rsquo;s classification of non-performing assets (NPAs) belonging to non-banking financial companies (NBFCs) which provides for secured and unsecured advances if the overdue period exceeds 90 days.

New norms for NBFC NPAs opposed

CDR amount jumps six times in first half; bankers expect things to worsen.

Debt restructuring plans flood banks

A sharp fall in the value of the rupee since August is expected to increase the repayment costs of the foreign currency convertible bonds (FCCBs) by Rs 500 crore to Rs 2,000 crore for 39 companies that are facing redemption in the next 12 months.

Falling rupee to add Rs 2k cr extra burden on FCCB bill

Transactions carried out using credit cards in August were worth Rs 8,078.98 crore, 29.1% more than that in the same month last year.

Value of credit card transactions up by 29% in Aug

Issue likely by December, to be a fourth of the earlier planned Rs 20,000 crore.

SBI slashes rights issue size to Rs 5,000 cr

The target inflation rate for monetary policy operations should be set below the threshold inflation level to provide supportive environment for economic growth, according to a study by the Reserve Bank of India (RBI).

'Inflation target rate should be below threshold'

Given the rising interest rates, slower investments and the domestic slowdown, loan growth, along with quality of assets, for banks is expected to be under pressure in the near term. This may be reflected in banks' performance for the quarter ending September. Not surprisingly, the Bombay Stock Exchange Bankex fell 15.4 per cent during the quarter, compared with a fall of 12.7 per cent in the Sensex.

Private banks likely to lead the way in Q2 

The country&rsquo;s leading bankers don&rsquo;t want any more policy rate hikes by the Reserve Bank of India (RBI).

Rate hike: Bankers say enough!

The Reserve Bank of India (RBI) today announced 2% interest subsidy on Rupee export credit to the labour-oriented and small scale sectors to cushion them from slowdown in the major markets like the US and Europe.

For exporters, borrowing from bank will be 2% cheaper

Finance Ministry is likely to seek Parliament's nod for an additional Rs 10,000-12,000 crore to recapitalise about half a dozen public sector banks this fiscal, over and above Rs 6,000 crore earmarked in the budget.

Need house nod to recapitalise PSU banks: govt

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