Pointing to tough times for the country&rsquo;s external sector, the Reserve Bank of India (RBI) on Monday said risks to current account deficit (CAD) had risen further owing to the slowing global economy and debt-related stress in the euro area.

Slowdown, crisis pose risks to current account deficit

Business Standard

Talks of sub-8% growth, weak investment climate on the eve of policy review.

RBI signals stance shift, warns of growth risks

Ending the era of controlled interest rate regime, the Reserve Bank today freed savings bank deposit rates, a step which bankers said could fetch better returns for depositors as competition will intensify.

RBI frees savings bank interest rates

Press Trust of India

Borrowers wanting to prepay home loans can look forward to some relief as the Reserve Bank of India (RBI) today said it would hopefully scrap the prepayment penalty within a month.

Prepayment penalty on home loans on way out: RBI

Within hours of the Reserve Bank of India (RBI) deregulating savings rate, private lender Yes Bank today hiked its saving rate by a hefty 2% even as some leading bankers said they were not in a hurry to take a call as the liquidity position is comfortable.

Yes Bank ups rates by up to 2%, others to decide later

The Reserve Bank of India (RBI) today said banks would have to be recapitalised to help them achieve Basel III capital adequacy norms and would issue a detailed guideline on the matter by December-end.

Banks need to be recapitalised to meet Basel III norms: RBI

GRUH Finance Ltd (GRUH) &ndash; a subsidiary of HDFC Ltd has registered an increase of 28 per cent in the company's net profits for the first half (April-September) period at Rs 41.47 crore as compared to Rs 32.37 crore in the corresponding period in the previous year.

GRUH Finance profit rises by 28%

Despite falling margins, private sector lender Kotak Mahindra Bank has reported a 19 per cent increase in consolidated net profit in the second quarter ended September 30 in comparison to same period last year.

Kotak Mahindra Bank Q2 net up 19%

Bank of Maharashtra has posted 92 per cent growth in its net profit at Rs 100.42 crore for the second quarter ended September 30 as compared to Rs 52.3 crore in the same period last year. Net revenue has risen by 36.44 per cent to Rs 1,945.15 crore from Rs 1,425.61 crore.

Bank of Maharashtra net rises 92% in Q2

The UK Border Agency (UKBA), which controls immigrations into the country under the Home Office, on Tuesday issued a long list of over 1800 banks in India from which it will not accept financial statements of students applying for study visa.

UK won't accept statements from 1,800 Indian banks

Banks are pushing back against European leaders on the size of losses they are ready to accept on Greek bonds as officials struggle to rescue the debt-laden country while avoiding a default.

Banks, lawmakers in a clash on Greek rescue

The last bastion of administered rates was removed on Tuesday, with the Reserve Bank of India (RBI) deciding to deregulate savings deposit rates with immediate effect. Banks were paying four per cent interest on their savings deposits.

Frees savings rate banks give split verdict

Finance Minister Pranab Mukherjee on Tuesday admitted the Reserve Bank of India&rsquo;s (RBI) latest round of rate increase would have some impact on economic growth, which had already decelerated to a six-quarter low of 7.7 per cent in the April-June period of the current financial year. He, however, exuded confidence that gross domestic product (GDP) growth would pick up from the second half of this financial year.

FM sees RBI move stifling growth in the short term

Public sector banks (PSBs) may soon introduce a system of succession planning for critical and leadership positions. This will be backed by three potential successors in the reserve, as the finance ministry has accepted the recommendations of the A K Khandelwal committee on HR issues in state-run banks.

PSBs to go for succession planning, variable pay

Those with &lsquo;Aadhar&rsquo; numbers issued by the Unique Identification Authority of India (UIDAI) would soon be able to benefit from the online verification facility while seeking mobile connections.

Aadhar-based online verification facility for mobile connections

Fears of banks&rsquo; earnings plummeting in a deregulated savings deposit rate regime appear to have gripped investors, with most analysts hinting that profitability may come under pressure due to higher cost of funds amid slowing growth in advances.

High savings deposit rate likely to dent banks' profits

As a step to maintain the momentum of credit growth during the ongoing economic slowdown, State Bank of Bikaner &amp; Jaipur (SBBJ) will reduce its share of business in lending large corporate loans and, instead, focus on retail business.

SBBJ to focus on retail, trim corporate loans

As the finance ministry seeks to assert itself in the affairs of UTI Asset Management, the company&rsquo;s foreign partner might see its influence curtailed in the days to come.

T Rowe Price may be cut to size on UTI mutual fund board

The Finance Ministry today said it is likely to approve capital infusion into PSU banks, including State Bank of India (SBI), by mid-November.

FinMin nod likely for capital infusion in PSU banks by mid-Nov

The finance ministry is likely to take a call on capital infusion in public sector banks, including the country's largest lender, the State Bank of India, for the current financial year by the middle of next month.

PSBs to wait for capital

Muthoot Finance Ltd (MFL) registered a growth of 88 per cent in its net profit at Rs 215 crore in the quarter ended September 30 ,2011, as against Rs 115 crore in the same period of the previous fiscal. Its total income was Rs 1,105 crore as compared to Rs 529 crore, up 109 per cent.

MFL Q2 net up 88%

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