Exim Bank, which provides finance facilities to exporters and importers, is collaborating with Export Credit Guarantee Corporation for structuring new credit tools where government or multilateral lines of credit are not available, an official of the bank said today.

Exim Bank structuring new product with ECGC

Press Trust of India

The country's foreign exchange reserves rose to $279.422 billion for the week ended July 9, up by around $1.16 billion over the previous week, backed by a healthy jump in foreign currency assets.

Forex reserves up by 1.16 bn to $279.42 bn

Private sector banks have stolen a march over the public sector banks in the disbursals of loans in the agriculture and allied sectors in Orissa in the past three years.

Private banks score over PSU banks in loan disbursal targets

Business Standard

Exim Bank is looking to develop an alternative finance instrument for importers. The bank is working on a partially structured buyers'credit scheme, which will offer credit at competitive rate to importers, said T C A Ranganathan, Chairman and Managing Director, Exim Bank.

Exim Bank works out  scheme for importers

RBI, however, didn&rsquo;t extend the facility under which banks could borrow against 0.5 per cent of their holdings of statutory liquidity ratio bonds.

RBI extends second LAF, withdraws SLR facility

Goldman Sachs&rsquo; $550 million settlement with US regulators yesterday will benefit the firm by ending three months of uncertainty at an affordable price. Now the rest of Wall Street begins calculating the cost.

Goldman Sachs 'victory' ushers change for Wall St

State-owned Canara Bank today reported a 82.48 per cent jump in net profit for the first quarter ended June 30 at Rs 1,013.37 crore.

Canara Bank Q1 net profit up 82%

Bangalore-based public sector lender, Canara Bank, today reported a whopping 82.5 per cent year-on-year rise in net profit at Rs 1,013 crore for the quarter ended June.

Canara Bank Q1 net profit up 82.5%

Ahead of the monetary review, industry chamber Assocham today asked the RBI to make changes in the base rate mechanism to provide clarity on concessional loans given to industries for their restructuring.

RBI should address grey areas in base rate mechanism: Assocham

On July 2, the Reserve Bank had hiked both the short-term lending and borrowing rates by 25 basis points each to contain inflation.

Economists see RBI further hiking policy rates by 25 bps

With many life insurers not able to retain customers due to mis-selling, the regulator Irda has proposed that licence of an agent be cancelled if 50 per cent of the policies sold by him/her are not renewed annually.

Mis-selling: Irda moots cancelling licence of agents

Meet end-July to agree more details, RBI keen on comprehensive package.

SBI leads banks on tri-strategy for airline debt

Bangalore-based public sector lender Canara Bank has advanced Rs 40,173 crore to infrastructure sector, showing a growth of a whopping 91.1 per cent for the first quarter-ended June 30, 2010, compared to the corresponding period of previous year. Its lending to the sector as on June 30, 2009, were Rs 21,027 crore.

CanBank's infra lending up 91%

The Canara Bank is looking to raise Rs 500-600 crore during the second quarter of the present fiscal to augment its capital adequacy ratio.

Canara Bank to raise Rs 500-600 cr in Q2

Banks availed refinance to the tune of Rs 2,045 crore in April-June, according to NHB data. Demand was much less in the same period last year.

Banks increase recourse to Sidbi and NHB refinance

As part of its expansion plan, Anil Ambani Group&rsquo;s life insurance venture Reliance Life will add 3,000 sales managers to its payroll this fiscal, besides hiring another 150,000 insurance agents. &ldquo;We are raising the headcount by 20 per cent in the current financial year. We have already hired 2,000 sales managers in the first three months of 2010-11, and will add another 1,000 in the coming months.

Reliance Life to hire 3,000 managers this yr

State Bank of Travancore (SBT) has registered a drop in net profit in the first quarter 2010-11, earning Rs 149.8 crore as against Rs 179.59 in the same quarter last year. The bank posted an operating profit of Rs 270.53 crore compared to Rs 225.78 crore.

SBT Q1 net drops 16% on treasury ops, staff costs

Joins RBI, Sebi in trying to protect autonomy of the regulators.

Irda to oppose move on 'super-regulator'

The rupee dropped to fresh two-week lows in the afternoon session on Monday as demand for dollars from two large corporates, two dealers said, while non-deliverable forwards related dollar-buying also weighed.

Rupee at new 2-week low on dollar buying by large cos

Country's leading banks are lining up to fund the $2.3 billion acquisition of the Singapore-based hospital chain Parkway Holdings by Fortis Healthcare, though ICICI Bank is not part of the arrangement.

Banks to fund Parkway acquisition; ICICI not part of deal

Ireland had its credit rating cut one level at Moody&rsquo;s Investors Service, which cited a &ldquo;significant loss of financial strength&rdquo; and the cost of bank bailouts.

Moody's cuts Irish rating on debt outlook, bank costs

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