The fact that the central bank has started exploring the possibility of allowing industrial houses for banking activities has made prospective entrants cheerful but some of the conditions the Reserve Bank of India (RBI) want to impose may make them edgy.

Prospective entrants keep fingers crossed

Business Standard

Bank of England Governor Mervyn King said inflation will probably slow below the bank&rsquo;s target in 2012 and growth will be weaker than previously forecast, signalling the UK economy may need more emergency stimulus.

BoE signals need for emergency stimulus

Yes Bank is planing to buy one per cent in the United Stock Exchange (USE), which plans to go live with currency trading this month. After the deal, USE will have 27 banks as its shareholders. The bank is still awaiting a formal approval from the Reserve Bank of India.

Yes Bank to buy 1% in USE

RBI is candid in its intention of using more licences to deepen financial inclusion, and also increasing competition. The vision is to see the banks grow in villages and Tier-II and -III towns. The paper takes the bull by the horns and opens a debate on key issues &mdash; whether industrial houses should get bank licenses, minimum capital requirements, extent of foreign holding, extent of promoter holding and whether NBFCs can be converted.

View on NBFC raises queries

The Reserve Bank of India is considering a 50 per cent cap on foreign investment in new banks with a 10-year lock-in and keeping out corporate groups involved in real estate business.

Reserve Bank sets stiff terms for new bank licences

Indiabulls, Dewan Housing Finance may be out of reckoning.

RBI not in favour of groups with real estate interests

Considering the low progress of Debt Swap Scheme in Punjab and to rescue farmers from the clutches of moneylenders who charge exorbitant rate of interest, convener bank for the state, Punjab National Bank (PNB), has asked the lead district managers to report the action taken by them to implement the scheme effectively in their districts.

PNB asks Punjab bankers to implement debt swap scheme

Finance companies say they are relieved at the capital requirement proposed for a new banking licence in the discussion paper put up by the Reserve Bank of India (RBI) on Wednesday.

Discussion paper commended

Stock of State Bank of India, the country's largest bank, today touched its 52 week high at Rs 2,692 after it announced that it has posted 26 per cent jump in its consolidated net profit to Rs 2,935 crore as compared to Rs 2,330 crore in the previous quarter, a year ago.

SBI Q1 net up 26% at Rs 2,935 cr

Public sector lender Bank of India (BoI) today said its board has approved raising up to Rs 10,286 crore through Tier-I and Tier-II capital.

Bank of India to raise up to Rs 10,286 cr

Press Trust of India

Citigroup, 18 per cent owned by the US government, is testing a website to let millionaires&rsquo; children manage their allowances, while alerting parents and bankers when scions blow through cash too quickly.

Citi millionaires' heirs get website for allowances

Insurers want to encourage persistency in agents.

Commission on Ulip renewal may go up

The Reserve Bank of India (RBI) on Thursday said it had approved the proposed merger between ICICI Bank and Bank of Rajasthan (BoR).

RBI okays ICICI Bank-BoR merger; takes effect today

Switzerland-based lender Credit Suisse today announced that it had received a licence from the Reserve Bank of India (RBI) to open a bank branch in Mumbai.

Credit Suisse gets commercial banking licence

Prudential Plc, the UK insurer that failed to buy AIA Group earlier this year, said it won&rsquo;t make another bid for the American International Group unit as it posted earnings that beat analysts&rsquo; estimates.

Prudential rules out another AIA bid

Vacancies, NPS to be taken up in a meeting tomorrow.

Banks to discuss human resource issues with FM

With Parliament on Thursday passing an enabling bill for reduction of government stake in the country&rsquo;s largest lender, decks have been cleared for the State Bank of India (SBI) to raise fresh funds from the capital market.

Parliament allows SBI to raise funds from market

The Life Insurance Agents&rsquo; Federation of India (LIAFI), which has 1,000 branch associations affiliated to it, on Thursday sought exemptions in the draft policy note of the Insurance Regulatory and Development Authority (Irda), which states that an agent should complete 20 different lives a year with the minimum first year premium income to be procured by him being Rs 1.5 lakh. &ldquo;Many agents are objecting to this.

Life agents' body seeks exemptions

Loans to infrastructure segments like power, telecom, roads and ports led the growth in bank credit in 2009-10, when the Indian economy was emerging from shadows of the global financial crisis.

Infra demand led bank credit growth in 2009-10

State Bank of India (SBI) on Thursday said consolidated net profit for the group went up by 21.99 per cent to Rs 3,356.26 crore during the quarter ended June, compared to Rs 2,758.5 crore during the corresponding period last year.

SBI net grows 22%, shares touch 19-year high

State Bank of India (SBI), the country&rsquo;s largest lender, today said interest rates were headed upwards and it would soon decide on revising its deposit rates and the benchmark prime lending rate (BPLR).

SBI to decide on rate rise soon

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