Local markets to feel pressure as telecom companies look to access funds.

3G payments may push up short-term rates in June

Business Standard

Asset financing company, Shriram Transport Finance Company (STFC), plans to infuse around Rs 600 crore capital in its proposed subsidiary, for conducting equipment finance business, which is expected to float in a month.

Shriram Transport to infuse Rs 600 cr in new arm

Rates were up 10-20 basis points in the three-month segment on the view liquidity is likely to tighten in the coming weeks due to payments towards 3G auctions, dealers said.

Short-term debt rates rise

The Andhra Pradesh government will file criminal cases against microfinance institutions (MFIs) that resort to coercion and use &lsquo;inhuman&rsquo; means to recover loans extended to the poor.

Truant microfinance companies to be taken to task

On an year-on-year basis, the deposits of the bank grew from Rs 20,333 crore to Rs 23,731 crore (16.71 per cent increase) and advances grew from Rs 11,810 crore to Rs 14,436 crore (22.23 per cent increase). The growth in CASA deposit during 2009-10 was 36 per cent.

Karnataka Bank's business up 19% in FY10

The new ETF will have a portfolio of 30 cos involved in India&rsquo;s infrastructure sector.

Despite global turmoil, US firm to launch India-focused fund

Prudential Plc, the UK&rsquo;s biggest insurer, started a $21-billion rights offering to fund its purchase of American International Group&rsquo;s main Asian unit, after a 12-day delay fueled speculation the deal would falter.

Prudential starts record offering to fund takeover

The aversion to equities is visible with Shriram Transport&rsquo;s Rs 500 crore non-convertible debenture issue receiving high interest from retail investors and high net worth individuals (HNIs).

Stocks' volatility helps turn retail investors to bonds

The number of credit cards in circulation fell below the 20-million mark in March, as issuers continued to cull inactive and defaulting accounts and focus instead on increasing spends.

Fewer swipes: Number of credit card holders slips to 18.3 mn in March

Prudential CEO Tidjane Thiam today indicated that the British company would sell its stake in Tata AIG Life to the Indian conglomerate. In March, Prudential had acquired AIG's Asia business for $35.5 billion, which included the 26 per cent stake in Tata AIG.

Prudential may sell Tata AIG stake to Tatas

The regulator is planning to restrain banks from selling complex derivatives to small and unlisted companies. But, they are hardly impressed as existing rules to regulate the forex derivative markets have not been enforced by the banking regulator.

Don't want complex derivatives, but enforce existing rules: SMEs

To further streamline the system governing the Ulips, insurance regulator Irda today proposed to do away with wide variance in charges imposed by insurers for surrendering these securities-linked products.

Irda for uniform charges for surrendering Ulips

Press Trust of India

The average deal size has gone up from $7 million in 2009 to $12 million this year.

Deal size surges as risk appetite is back

&lsquo;The challenge is to get value from investments made in infrastructure&rsquo;.

Moody's says SBI rating may come under pressure

CD issuance were up today because mutual funds stepped up investment in shorter tenure today on inflows in their liquid schemes. Few banks were also buying certificates of deposit (CDs) today, dealers said.

CD issuance rise as MFs step up buying

Indian Bank plans to tap the market by September to raise up to Rs 1,000 crore to meet its Tier-II capital requirements, said T M Bhasin, chairman and managing director.

Indian Bank to raise Rs 1,000 cr by Sept

The board has recommended dividend of 17 per cent for 2009-10, Icra said in a statement. Its consolidated total income for reporting quarter rose by 14 per cent to Rs 53.69 crore from Rs 46.91 crore a year ago.

Icra net up 24%

Chennai-based public sector bank Indian Bank has reported a 4.03 per cent increase in its net profit at Rs 409.9 crore for fourth quarter-ended March 31, 2010, over the corresponding period last year. The total income of the bank rose to Rs 2,317.7 crore for the quarter-ended March 31, from Rs 2,148.4 crore during the same period of the previous fiscal.

Indian Bank net up 4%

Chennai-based microfinance company SMILE Microfinance Ltd (SMILE) has raised around $10 million (around Rs 50 crore) from equity funds managed by Developing World Markets (DWM), a US-based social investment fund manager. Grameen Capital India was the sole equity advisor to the transaction for SMILE.

Developing World Markets invests Rs 50 crore in microfinance firm

Deal envisages one ICICI Bank share for every 4.72 of BoR&rsquo;s.

Bank of Rajasthan to merge with ICICI Bank

Indian Bank is planning to penetrate rural India through kirana stores, and plans to turn its retired employees into business correspondents in areas, where it does not have a branch.

Indian Bank to tap rural India

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