New Delhi-based finance company IFCI Ltd&rsquo;s stock today fell 5.5 per cent to Rs 59 on the Bombay Stock Exchange (BSE). The broader mid-cap index on BSE, which the stock represents, managed to gain 0.16 per cent.

IFCI stock falls 5.5% on reports of equity conversion

Business Standard

Bond traders breathe easy as rate increase fears allayed.

RBI has done enough to manage inflation: Gokarn

The Insurance Regulatory and Development Authority (Irda) has slapped a Rs 10 lakh fine on private sector life insurer SBI Life for violating the file-and-use guidelines. The insurer has been asked to pay up within 30 days from the date of the receipt of the order.

Irda slaps Rs 10 lakh fine on SBI Life

If inflation levels do not come down in the next four weeks, the Reserve Bank of India (RBI) may go for a rate hike in its September quarterly review of the monetary policy, hinted Prime Minister's Economic Advisory Council (PMEAC) Chairman Dr C Rangarajan here today.

RBI may go for another rate hike at Sept review: PMEAC

Press Trust of India

Leading industrialists and bankers today met at the ICICI Bank headquarters in Mumbai to prepare a road map for financial inclusion.

PM panel meets to prepare plan for financial inclusion

The Centre is likely to up its stake in Nabard to up to 99 per cent by acquiring the Reserve Bank's stake for Rs 1,450 crore in the current year, a top Nabard official said.

Govt may up its stake in Nabard to 99%

SBI Capital Markets Ltd, the investment advisory arm of State Bank of India, is planning to float a dedicated small and medium enterprises (SME) fund with an initial corpus of Rs 100 crore in the next one and half years.

SBI Capital set to launch Rs 100 crore SME fund

Indian banks have asked the Reserve Bank of India to permit them to trade in gold in the domestic market and even hedge their requirements on futures exchanges. These suggestions were made at a meeting of the Reserve Bank of India&rsquo;s standing committee on bullion a fortnight ago, said a person familiar with the development.

Banks want to be active gold traders

With the Reserve Bank of India&rsquo;s (RBI&rsquo;s) assurance on steps to manage inflation, the yield on government bonds is likely to remain stable in the coming week.

Bond yield to remain stable

The Insurance Regulatory and Development Authority (Irda) today said profitability of insurance companies will be impacted with its new guidelines for unit-linked plans (Ulips), which invest part of funds in equities.

New Ulip norms may impact insurers' profits: Irda

State-owned Oriental Bank of Commerce today announced an increase of 50 basis points in its benchmark lending rate and up to 100-basis point hike in fixed deposit rates.

Oriental Bank raises lending, deposit rates

Providing relief to foreign entities having branch or liaison offices in India, the Reserve Bank of India (RBI) today changed the last date for filing annual activity reports to September 30 of every fiscal from April 30 at present.

RBI relaxes deadline for foreign entities to submit AACs

Bailed out mortgage lender Freddie Mac today reported a massive rise in its losses to $6 billion in the three months ended June and said it will seek another $1.8 billion aid from the American taxpayers.

Freddie Mac Q2 loss soars to $6 bn

The Reserve Bank of India (RBI) today allowed non-banking finance companies (NBFCs) to trade in currency futures, giving them the opportunity to hedge their risks against exchange rate volatilities.

RBI allows NBFCs to trade in currency futures

To review base rate by September-end, bankers tell RBI.

Lending rates may go up from Oct

Reliance Capital posted a 49 per cent drop in the profit after tax to Rs 77 crore for the quarter ended June, as against Rs 151 crore in the corresponding period last year, mainly due to decline in the profit of its general insurance arm.

General insurance arm pulls down Rel Cap net

HSBC on Monday announced that the country head for India, Naina Lal Kidwai, would be joining its Asia-Pacific board. Kidwai will take a seat on the board of Hongkong and Shanghai Banking Corporation (HSBC), which is chaired by Michael Geoghegan, Group Chief Executive of HSBC Holdings.

Naina Lal Kidwai to join HSBC Asia-Pacific board

Net profit of Kolkata-based Srei Infrastructure Finance rose 20 per cent to Rs 46.65 crore for the first quarter ended June, against Rs 39 crore during the corresponding period last year.

Srei net up 20%

Public sector lender Allahabad Bank today hiked its prime lending rate (PLR) by up to 50 basis points to 12.50 per cent in response to the RBI's decision to raise short-term rates.

Allahabad Bank hikes benchmark prime lending rate by 50 bps

Home, auto and education loans from a host of banks have become costlier for existing borrowers by up to 75 basis points, after lenders hiked interest rates following the Reserve Bank of India's (RBI) move to tighten monetary policy.

Home, auto, education loans get dearer for existing borrowers

The Reserve Bank of India (RBI) today came out strongly against banks using securitisation, a system under which loans are sold to third party to enhance liquidity, to book profits.

RBI against banks using securitisation to book profits: Dy Gov

Finance News: Latest investing news and finance headlines straight from Business Standard.

Page 2620 - Finance News