Insurer seeks leeway to invest in sub-AAA-rated companies.

Companies dial LIC for funds amid uncertainty

Business Standard

The rupee is expected to benefit as traders move out of safe-haven investments on the hope that the Group of 20 (G20) finance ministers would firm up a bailout plan for the debt-stricken euro zone.

Rupee seen firm as risk appetite improves

The Export-Import Bank of India (Exim Bank) has entered into an agreement with Senegal for extending a $27.5 million soft loan to finance exports and consultancy services for a rural electrification project in the African nation.

Exim Bank to lend $27.5 mn soft loan to Senegal

Press Trust of India

The Bangalore-based private sector lender ING Vysya Bank today reported 53% rise in net profit at Rs 115.4 crore in the July-September quarter, driven by higher net interest income (NII) and lower provisioning.

ING Vysya Bank Q2 net jumps 53%

ESAF Microfinance, Kerala's largest microfinance institution with 450,000 clients, has received funding support of Rs 45 crore from State Bank of India and another Rs 20 crore from Central Bank of India.

ESAF Microfin gets Rs 65 cr from banks

The Securities and Exchange Board of India (Sebi) has withdrawn a major irritant for life insurance companies wanting to hit the capital market with initial public offers. While clearing IPO guidelines of life insurance companies, the regulator has removed the three-year profitability clause that is applicable for all companies as a precondition for tapping the capital markets.

Insurers get profitability clause waiver for IPOs

With government bond yields trading close to three-year high levels, investors can expect attractive coupon rates on tax-saving bonds from infrastructure finance companies.

Rising yields to fetch more returns for tax savers

Rural Electrification Corporation (REC) plans to raise Rs 1,000 crore by issuing tax-saving infrastructure bonds in the current financial year. The first tranche of the bond issuance is expected in the last week of November.

REC plans to raise Rs 1,000 cr through infrastructure bonds

Citigroup Inc, the third-biggest US bank, said profit rose 74 per cent, beating analysts&rsquo; estimates as a $1.9 billion accounting gain reduced the impact of declining trading and investment-banking revenue.

Citigroup profit rises 74%, beats estimates

Credit quality at higher education institutes in India is under pressure, according to a sector note by Icra. &ldquo;The higher education sector in India has several credit strengths inherent in it, which are, however, diluted to varying extents at the level of individual higher education institutes,&rdquo; said the note.

'Credit quality under pressure at private education institutes'

The operating income rose by 40 per cent to Rs 4,077 crore.

HDFC net up 20% on healthy loan growth

Following a high interest rate regime and moderating economic growth, the fresh and incremental funding dipped 8 per cent to Rs 4,22, 000 crore in the April-September quarter this year. Funding was Rs 4,61,000 crore in the same period last year, according to rating agency CARE.

High interest rates, slowdown hit funding in Apr-Sep

Bangalore-based foreign lender, ING Vysya Bank, reported a 53.3 per cent rise in net profit at Rs 115.4 crore for the quarter ended September, primarily owing to robust interest income.

ING Vysya Bank Q2 net up 53.3% at Rs 115.4 cr

The bank had recorded a net profit of Rs 133.15 crore in the corresponding quarter last fiscal, IndusInd Bank said in a filing to the Bombay Stock Exchange (BSE).

IndusInd Bank Q2 net profit up 45%

The government has asked public sector banks to concentrate on &ldquo;core banking activities&rdquo; and delay their the plans of floating insurance or other businesses, which are capital-intensive, at least till the end of the current financial year.

Focus on core business, centre tells banks

With inflation staying above nine per cent levels since December 2010, Reserve Bank of India&rsquo;s (RBI) aggressive rate rises are being questioned, owing to their inability to curb price rise and manage inflationary expectations.

Elevated inflation levels point to ineffectiveness of rate rises: D&B

The Reserve Bank of India (RBI) could continue its monetary tightening measures by 25 basis points at least a couple of times more, despite the slower-than-expected industrial output of 4.1 per cent in August, the second-lowest in 17 months. The policy of monetary tightening in countries like India, China and South Korea also remains supported by the International Monetary Fund.

'Lower economic growth the new normal for RBI'

The finance ministry on Tuesday ruled out a rights issue for the country&rsquo;s largest lender, State Bank of India (SBI) in this financial year.

No SBI rights issue in FY12, says FinMin

Banks in Andhra Pradesh are expected to complete the appointment of business correspondents to over 6,000 villages with a population of 2,000 and more where no bank branch exists, by the end of this calendar year, a state finance department official said here on Tuesday.

6,000 villages in AP to have BCs by Dec

Public sector lender Bank of India (BoI), which currently derives 19 per cent of its business from international operations across five continents, is in the process of floating four more subsidiaries abroad &ndash; in Uganda, Rwanda, Botswana and Canada.

Bank of India to set up four more overseas arms

Gold loan business in Gujarat is picking up pace making more and more companies to increase their presence in the state.

Manappuram Fin to expand branch network

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