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

Business Standard

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

Press Trust of India

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

Risk aversion leads to innovative structured deals.

Private equity finds new ways to protect downside risks

Property and infrastructure funds are increasingly seeing a change of guard as deal flow improves in the two sectors after 18 months.

Churn begins at realty, infra funds, as deal flow improves

The government has decided to go ahead with the appointment of a consultant to suggest ways to revamp IFCI despite opposition from the institutional lender, a source familiar with the development said today.

Govt to appoint advisor for IFCI revamp

With shipping channels at Jawaharlal Nehru Port Trust remaining closed for the third day, public sector insurer United India Insurance will probably have to pick up the tab for losses to the port authority.

United India Insurance to bear JNPT loss

The central bank wants to control markets that grow on arbitrage.

RBI to check unhealthy securitiSation

Union Bank of India (UBI) is planning to create a loan corpus of Rs 500 crore for farmers in Andhra Pradesh. Besides, as part of its financial inclusion programme, the bank is planning to focus on the Surat-Ganjam (Orrisa) corridor to target the migrant worker remittances and also plans to introduce mobile-based savings bank account.

Union Bank sets aside Rs 500 cr  for financial inclusion

Mangalore-head quartered private sector lender, Karnataka Bank Limited, has raised its Prime Lending Rate (PLR) by 25 basis points to 14 per cent with effect from August 16, 2010. However, there is no change in its Base Rate which stands at 8.75 per cent, the bank said in a statement.

Karnataka Bank ups its PLR by 25 bps

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