United Arab Emirates&rsquo; (UAE&rsquo;s) banks may need to set aside as much as 20 per cent of their loans to state-owned Dubai World to cover losses after it announced a $23.5 billion debt restructuring, Moody&rsquo;s Investors Service said.

UAE banks may face 10-20% losses on Dubai World : Moody's

Business Standard

Recommendations to be submitted to the Reserve Bank of India for approval.

Bankers' panel finalises views on service charges

Four state-owned banks also announce rates; all eyes on private banks now.

SBI sets base rate at 7.5%

Rising food prices have been a concern for the last few months, but the response to food inflation is beyond the monetary policy, according to RBI Deputy Governor Subir Gokarn.

Monetary policy can't rein in food inflation: RBI

Issuances of short term papers declined today as mutual funds, the major investors in such papers, stayed on the sidelines due to tight liquidity in the system, dealers said.

Short-term issuances down

Ameeting of banks in the state today formally approved a credit plan for the year at Rs 27,400 crore.

Bankers decide to revise annual credit plan

The recent changes made to unit-linked insurance plans (Ulips) are going to pinch the agents that sell these insurance products the most. With the new cap on the charge during the term of the policy, agents are set to see a significant 500-600 basis points fall in commissions.

Commission for Ulips to fall 600-bps to single digits

Sweeteners, liquidity buffers dangled to get over uncertainty.

Realty funds compete on terms for investors

Infrastructure Development Finance Corporation (IDFC) has raised Rs 2,654 crore by a qualified institutional placement (QIP), attracting demand for twice the shares on offer, according to an advisor to the sale.

IDFC sells shares worth Rs 2,654 cr

United Kingdom-based Eredene Capital, which has a $100 million (Rs 460 crore) infrastructure fund in India, is planning to increase its fund size.

Eredene eyes new fund

Government-owned IDBI Bank today announced its base rate at 8 per cent, below which it will not lend from tomorrow.

IDBI bank base rate at 8%

Press Trust of India

Founded two years after Mao Zedong's communist revolution, Agricultural Bank of China was created to lend money to the country's poor farmers and distribute state money to rural areas.

Rural roots to blockbuster IPO: China's AgBank

The Reserve Bank of India (RBI) directive to banks, asking them not to honour cheques with overwriting, will come into effect from December 1 instead of the earlier scheduled date of July 1, the apex bank said in its latest circular.

No overwriting on cheques after December 1: RBI

Banking major Standard Chartered Bank today said that it will invest $500 million in an initial public offering launched by the Agricultural Bank of China, expected to be the world's largest public issue.

StanChart to invest $500 mn in China's AgBank IPO

Japan's Sumitomo Mitsui Banking Corporation today announced that it would invest Rs 1,366 crore for a 4.5 per cent stake in private sector lender Kotak Mahindra Bank.

Japan's Sumitomo to buy 4.5% in Kotak Bank

Private sector lender HDFC Bank today fixed the minimum lending rate at 7.25 per cent, 25 basis points lower than market leader State Bank of India's (SBI) rate.

HDFC Bank sets base rate at 7.25%

A government-appointed panel today called for according the coveted Maharatna status to the nation's largest lender State Bank of India (SBI), and Navaratna and Miniratna tags to other state-owned banks to foster competition.

Govt panel moots Maharatna status for SBI

Private sector Lakshmi Vilas Bank today said it plans to float a housing finance subsidiary and also to raise around Rs 400 crore to fuel expansion.

Lakshmi Vilas Bank plans home-loan foray

State Bank of India today extended its 8 per cent concessional home loan scheme for another three months till September, which is 0.5 per cent higher than its minimum lending or base rate.

SBI's teaser home loans till Sept; at 0.5% above base rate

The Reserve Bank of India (RBI) has asked banks to provide more loans to micro and small units so that credit to them grows by 20 per cent annually, as sought by a task force appointed by Prime Minister Manmohan Singh.

Achieve 20% growth in credit supply to MSEs: RBI asks banks

Country's largest private sector lender ICICI Bank today pegged its minimum lending rate at 7.5 per cent, the same as State Bank of India's (SBI) rate.

ICICI Bank fixes base rate at 7.5%

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