Several banks including Indian Overseas Bank (IOB), Punjab &amp; Sind Bank and Corporation Bank have raised lending rate by up to 50 basis points in line with other lenders.

More banks hike lending, deposit rates

Press Trust of India

Allahabad Bank has said it would raise its base rate and the benchmark prime lending rate (BPLR) by 50 basis points (bps) from August 1. The rate increase would increase the bank&rsquo;s base rate to 10.75 per cent and the BPLR to 15 per cent.

Allahabad Bank to raise base rate, BPLR

Business Standard

IDBI Bank on Saturday said its net profit for the quarter ended June rose 34 per cent to Rs 335 crore, owing to robust interest income flows. The banks&rsquo;s net profit for the quarter ended June 2010 stood at Rs 251 crore. The bank&rsquo;s net interest income increased 36 per cent to Rs 1,152 crore in the first quarter of 2011-12, compared with Rs 844 crore in same quarter of the previous financial year.

IDBI Bank net rises 34% to Rs 335 cr

Manipal-based public sector lender Syndicate Bank on Saturday reported a 29 per cent rise in its net profit at Rs 343 crore for the quarter ended June 30, compared to the corresponding quarter of the last financial year. The bank&rsquo;s operating profit rose 27 per cent to Rs 743 crore, compared to the year-ago period. Growing advances and improved net interest income (NII) aided the growth.

Syndicate Bank net profit rises 29% 

Private sector lender, Karnataka Bank Ltd has announced a seven per cent growth in net profit at Rs 49.78 crore for the quarter ended June 30, compared to the year-ago period. The bank&rsquo;s operating profit rose 41.7 per cent to Rs 107 crore. Gross income grew 25.3 per cent to Rs 768.8 crore. The rise in profits was driven by a 36.2 per cent growth in net interest income.

Karnataka Bank net rises 7%

State-owned Punjab &amp; Sind Bank has sought Rs 990 crore capital infusion from the government to fund its business growth.

Punjab & Sind Bank seeks Rs 990 cr from govt

The Bombay Stock Exchange (BSE) has informed the government that it intends to start a separate stock exchange for small and medium enterprises (SMEs) by September.

BSE to open SME stock exchange by September: MSME Secretary

Industry body Assocham has urged the government to take steps to curb excessive speculation in futures trading in farm commodities, saying they fuel food inflation.

Assocham demands govt to curb speculation in agri-futures

With an aim to rein in insider trading by promoters without investors' knowledge, Sebi has decided to make it mandatory for all promoter entities to disclose any considerable purchase or sale of shares by them.

Now, promoters asked to disclose share dealings

Ficci has reiterated its demand to set up an exclusive banking institution on the lines of National Housing Bank (NHB) and Power Finance Corporation (PFC) for catering to financing needs of infrastructure sector, an official said.

Ficci demands body to finance infra sector

Global banking giant HSBC is likely to announce on Monday plans to axe at least 10,000 jobs in the coming year, says a report by Britain's Sky News.

HSBC to axe at least 10,000 jobs: report

ICICI Bank, the country&rsquo;s largest private sector lender, reported a 5.4 per cent increase in consolidated net profit at Rs 1,091 crore for the quarter ended June 30, 2010, compared to a year ago, weighed down by a loss from its life insurance subsidiary.

ICICI Bank's Q1 net up 5%

After a decline in profit for three successive quarters, state-owned Bank of India (BoI) has reported a 24 per cent increase in net profit to Rs 725 crore for quarter ended June 30 as compared with Rs 584 crore in the same period of the previous year.

BoI returns to profit growth path, net up 24%

Syndicate Bank, the Manipal-headquartered public sector lender, today said its net profit remained flat at Rs 265 crore for the first quarter ended June 30, compared to the Rs 262 crore during the same period last year. This was mainly due to a steep drop of 93 per cent in its treasury profits, which was Rs 20 crore, compared to Rs 270 crore in the corresponding quarter.

Syndicate shows flat profit

Indian Overseas Bank (IOB) today reported a decline in net profit for quarter ended June 30 to Rs 200.44 crore, as against Rs 301.78 crore in the year-ago period.For year ended March 31, the net profit stood at Rs 706.96 crore. The total income for the quarter stood at Rs 2,882.38 crore as against Rs 2,808.51 crore in the corresponding quarter last year.

IOB net profit dips to Rs 200 cr

Private sector lender J&amp;K Bank today reported a growth of 23 per cent in net profit at Rs 145.4 crore for the quarter ended June 30, over the same period in the financial year 2009-10.

J&K Bank net up 23%

ICICI Bank today announced major changes in its management structure. Sandeep Bakshi, deputy managing director (corporate banking), will take over as the managing director and CEO of ICICI Prudential Life Insurance.

ICICI names Sandeep Bakshi as ICICI Pru Life MD & CEO

The Reserve Bank may go for further tightening of interest rates during this fiscal as part of efforts to tame inflationary pressures, experts believe.

RBI may hike rates further this fiscal: Economists

Housing finance company HDFC today said it expects a credit growth of 25 per cent in the current fiscal.

HDFC eyes 25% loan growth this fiscal

Bank loans to the &lsquo;sensitive sectors&rsquo; of real estate and capital markets rose in 2009-10 at the slowest pace in at least four years, as some lenders such as ICICI, Canara Bank, Union Bank of India, Bank of India and Jammu &amp; Kashmir Bank reduced lending to these.

ICICI cut lending to realty in 2009-10, but many didn't

Union Bank of India, the Mumbai-based public sector lender, plans to set up a banking subsidiary in Britain as part of plans to expand its international business.

Union Bank to set up UK banking subsidiary

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