The eurozone approved its share of a euro 12 billion ($17.4 billion) aid payment for Greece and pledged to complete work in the coming weeks on a second rescue package for the cash-strapped nation to prevent a default.

Eurozone backs Greek aid, mulls new bailout

Business Standard

Visakhapatnam Cooperative Bank has crossed the Rs 1,000-mark in deposits, according to its chairman.

Vizag Co-op Bank crosses Rs 1000 cr deposit mark

Dhanlaxmi Bank, one of India's fastest growing mid-size private sector banks, today said it has entered the gold retailing business with the launch of 'Dhan' gold coins.

Dhanlaxmi Bank forays into gold retailing

Press Trust of India

While the FDI inflows from all the sources declined by 25% in 2010-11, the drop was steeper at about 33% to $6.98 billion from Mauritius. Likewise, the inflows from Cyprus were down by 44% to $913 million, according to the official figures.

Heat on tax havens: FDI from Mauritius, Cyprus drops 

Amid difficulties faced by Indian companies to repay loans taken under Foreign Currency Convertible Bonds (FCCBs), the RBI today allowed refinancing for its redemption by allowing firms to raise fresh overseas borrowing under the automatic route.

RBI allows refinance for FCCB redemptions

G Padmanabhan today assumed charge as Executive Director of the Reserve Bank.

G Padmanabhan takes over as RBI executive director

In a major exercise to boost its profitability, the Department of Posts (DoP) plans to introduce core banking solution besides setting up India Post ATMs and debit cards for its customers.

Post offices to offer core banking solution by 2012

Mid and small-sized private banks are knocking on the doors of institutional investors and private equity funds to raise money amid declining capital adequacy ratios. The fund raising programmes are also triggered by the need to cut promoters' shareholdings in some of these banks and finance business growth in the coming quarters.

Private lenders line up plans to raise capital

The government has appointed Harun Rashid Khan a deputy governor of the Reserve Bank of India (RBI). Khan, who gets a three-year term, will monitor the foreign exchange department, payment and settlement systems and external investments and operations, among others.

H R Khan promoted to RBI deputy governor, gets three-year term

Goldman Sachs Group Inc appointed two senior bankers to run Japanese equity and bond underwriting and set up a public-sector group to boost its investment banking business following the country&rsquo;s record earthquake.

Goldman revamps post-quake biz in Japan

Good economic growth, favourable demographics and under-penetration is benefiting the banking sector with another good year expected during 2011-12, according to a report by research firm Standard &amp; Poor&rsquo;s (S&amp;P).

Indian banks to have another good year in 2011-12: S&P

At a time when the microfinance sector is reeling under a liquidity crisis, top microfinance institutions (MFIs) such as SKS and Bandhan are looking at alternative options like non-convertible debentures (NCDs) and commercial paper (CP) for raising funds.

Top MFIs look at NCDs to raise funds

The Piper PA-31 Navajo took off into the sultry Miami morning and streaked southward toward the Caribbean. High over Haiti, the cameras inside began to snap.

World Bank is opening its treasure chest of data

Standard Chartered Bank's aim of expanding its consumer banking business in South Asia was strengthened when it convinced Sanjeeb Chaudhuri to join the bank earlier this month.

BS People: Sanjeeb Chaudhuri

Six months after a Rs 400-crore fraud was detected in its Gurgaon branch, the Reserve Bank of India (RBI) on Monday rapped Citibank for the episode.

Gurgaon fraud: RBI raps Citi, slaps Rs 25-lakh fine

To facilitate the redemption of existing foreign currency convertible bonds (FCCBs), the Reserve Bank of India (RBI) on Monday allowed Indian companies to take fresh external loans and issue new FCCBs to address debt obligations.

RBI: Companies can issue fresh FCCBs to retire old debt 

Rating agency Standard and Poor&rsquo;s (S&amp;P) on Monday said India&rsquo;s largest lender, State Bank of India (SBI), may see pressure on its net interest margins and profitability in the current environment, which is marked by increasing competition and high inflation.

S&P warns of pressure on SBI's interest margins

The Reserve Bank today extended the 10% ceiling of bank investment in liquid schemes of mutual funds to include short-term debt funds.

RBI caps bank investments in liquid, short-term debt funds

United Stock Exchange (USE), engaged in currency futures and currency options trading, today said it has appointed State Bank of India (SBI) as its clearing and settlement bank.

USE appoints SBI as 10th clearing & settlement bank

Reserve Bank Governor D Subbarao today said consumer price index (CPI) works better than wholesale price index (WPI) in capturing market dynamics and arriving at a more realistic inflation forecast.

CPI a better indicator of inflation than WPI: Subbarao

The raising interest rates leads to to increase in cost of capital is a matter of concern for the industry. Any further price increase by the Reserve Bank of India (RBI) will hurt the industry growth, said B Muthuraman, president, Confederation of Indian Industry (CII) and vice chairman, Tata Steel Ltd.

'Increase in interest rates may hit growth'

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