Bajaj Finserv posted a net profit of Rs 66 crore for the quarter ended June 30, a growth of 57.14 per cent, riding on the back of a steady income from the life insurance business and a higher deployment in the auto finance segment. The company had recorded a net profit of Rs 42 crore during the corresponding quarter last year.

Bajaj Finserv profit up 57%

Business Standard

Credila Financial Services, the educational loan unit of Housing Development Finance Corporation (HDFC), hopes to grow its loan book 2.5 times in the current financial year.

HDFC's education arm Credila hopes to grow 2.5 fold

Karur Vysya Bank Limited (KVB) registered a 20.09 per cent growth in net profit to Rs 84.48 crore for the first quarter ended June 30, as compared with Rs 70.35 crore in the same period last year.

KVB net up 20% in Q1, to focus on improving CASA

Government-owned United Bank of India (UBI) has paid Rs 53.29 crore as dividend for the year 2009-10 to the government of India, which holds 84.20 per cent in the bank.

United Bank pays Rs 53.29 crore as dividend in 2009-10

In the year-ago quarter, net profit was Rs 832 crore.

UPDATE: PNB posts 28% rise in net profit in Q1

Press Trust of India

Union Bank of India Chairman and Managing Director M V Nair today said there is a strong possibility of the Reserve Bank of India (RBI) hiking interest rates at its July 27 policy review, as inflation is still very high.

Union Bank sees RBI hiking rates

In a boost for the infrastructure sector, the Reserve Bank of India (RBI) today allowed companies engaged in the roads, ports and airport sectors to raise funds through external commercial borrowings (ECB) to retire their rupee loans.

RBI allows infra firms to retire rupee loans via ECBs

&quot;We expect total business to cross Rs 75,000 crore in the fiscal,&quot; Federal Bank Managing Director M Venugopalan said after inaugurating its first corporate banking branch here.

Federal Bank expects total biz to cross Rs 75,000 cr

The Reserve Bank of India (RBI) today reduced the duration of trading in the government securities market by half-an-hour. The market will now operate from 9 am to 5 pm.

RBI reduces G-Secs trading hours

The state-run IDBI Bank today said it will merge its Pune-based wholly-owned home-loan subsidiary IDBI Homefinance with itself to consolidate its home loan business and gain more market share.

IDBI Bank to merge home loan arm with itself

Vijaya Bank seeks more capital

Punjab National Bank (PNB), the country&rsquo;s second-largest public sector lender, on Thursday reported a 28.4 per cent rise in net profit to Rs 1,068 crore for the quarter ended June 2010, compared with Rs 832 crore in the corresponding period last year.

PNB profit rises 28%

Sharp rise in net interest income, helped IDBI Bank to post 46 per cent rise in its net profit for first quarter ended June at Rs 251 crore, as against 172 crore in the corresponding period last year.

IDBI Bank net up 46%

Bangalore-headquartered public sector Vijaya Bank has posted a 21 per cent rise in net profit to Rs 173 crore for the quarter ended June on the back of falling cost of deposit and higher core earnings. Total income rose 3.8 per cent to Rs 1,520.20 crore from Rs 1,463.42 crore in the same period last year.

Vijaya Bank net rises 21%

Private-sector lender, ING Vysya Bank has posted 15 per cent rise in its net profit to Rs 69. 1 crore in the first quarter ended June, on the back of lower cost of deposit along with higher interest income.

ING Vysya Bank net up 15 %

After much debate over the fate of its home finance subsidiary, IDBI Bank today decided to merge IDBI Homefinance Ltd with itself.

IDBI Bank to merge home finance arm with itself

Banks in India continue to witness good demand for loans on demand for funds for large scale investment in infrastructure projects, acquisitions by companies, and a resurgent demand for working capital and capital expenditure, a study by Standard &amp; Poor&rsquo;s (S&amp;P&rsquo;s) said.

Growth from infra to keep credit demand buoyant: S&P

The Reserve Bank of India (RBI)&nbsp;on Thursday&nbsp;further relaxed norms governing external commercial borrowings (ECBs) for infrastructure companies by allowing them to avail of take-out financing through such forex loans.

RBI permits take-out financing via ECB for new infra projects

The bank had a net profit of Rs 302.8 crore during the same quarter a year ago.

Allahabad Bank Q1 net rises 14.6% at Rs 347 cr

This was in contrast to Rs 178.85 crore during the corresponding quarter of the last fiscal, UCO Bank said in a filing to the Bombay Stock Exchange.

UCO Bank Q1 net profit up by 45.95%

Punjab National Bank has set up a committee to evaluate the prospects of entering the life insurance business after its earlier attempt to enter the sector along with US-based Principal fell through.

PNB to decide on life insurance foray in next 3 mths

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