The higher-than-expected income from sale of third generation (3G) mobile spectrum has the potential to reduce government borrowing, Finance Secretary Ashok Chawla has said.

3G funds may lower borrowing, says Chawla

Business Standard

Investment banking fees in western Europe are falling victim to the Greek debt crisis, as companies from London to Dusseldorf pull stock and bond offerings and put takeovers on hold.

Fees drop 17% in Europe for bankers as deals pulled

In a bid to diversify operations, state-run Bank of India (BoI) plans to re-enter mutual fund business for which it is scouting for a foreign partner.

Bank of India plans to re-enter MF biz

Press Trust of India

The bank had a consolidated net profit of Rs 2,384.08 crore in the corresponding fiscal.

Bank of Baroda FY10 net up 33% to Rs 3,179 cr

Growing sector estimated to double business to $1 billion in 2 years.

Play schools scout for Private equity investors

Investment by private equity (PE) companies rose over three-fold during January-April this year as compared to the same period last year. The comparative figures are $3,044 million (Rs 14,521 crore) and $837 million (Rs 3,993 crore). These investments were driven by energy and healthcare services sectors. The number of deals rose from 73 to 92, shows data compiled by Venture Intelligence.

PE investment rises over 3-fold in Jan-April

Indian currency second-worst performer in Asia.

Europe drags rupee to eight-month low

Corporate and sovereign credit risk indicators worldwide reached or approached the highest levels in 10 months as heightened military tension in the Korean peninsula and a drop in the euro fueled concern that a global recovery will be derailed.

Credit risk soars as Korea tension, euro slump spook investors

Telecom companies (telcos) are looking at alternative sources of funds to pay for 3G spectrum. They had already raised Rs 7,500-8,000 crore by issuing commercial papers (CPs) over the past few days and more issuances were in the pipeline, investment bankers said.

Telcos raise Rs 8,000 cr through commercial papers for 3G payout

Standard Chartered Plc received a rather cold response from investors on the first day of its Indian Depository Receipts (IDRs) issue. According to the National Stock Exchange (NSE), the issue was subscribed just 0.05 times on Tuesday &mdash; the first day of bidding.

Cold response to StanChart's IDR offer

State-run Punjab National Bank (PNB) expects its base rate to be between 8-8.5 per cent, its Chairman and Managing Director K R Kamath said today.

PNB's base rate likely to be between 8-8.5%: Kamath

The Reserve Bank of India (RBI) today announced measures to augment money supply in view of pressure in the system due to an expected Rs 1 lakh crore outgo on account of 3G spectrum and advance tax payment by corporates.

RBI takes 3G call; allows banks to borrow more from it

In an effort to protect people from financial frauds, the Reserve Bank of India (RBI) today advised banks to be vigilant against transactions related to various money schemes, including cheap funding programmes and lotteries.

RBI asks banks to be vigilant against money scheme deals

The country's largest lender State Bank of India (SBI) today said the &quot;worst is over&quot; in terms of its rising bad debts, which had dragged down its net profit by a whopping 32 per cent in the fourth quarter of the past fiscal.

Worst is over, says Bhatt on SBI's NPAs

The second day of bidding for Standard Chartered Plc&rsquo;s Indian Depository Receipts (IDRs) saw the issue being subscribed a mere 0.10 times with not a single bid coming from foreign institutional investors (FIIs).

StanChart IDR subscribed 0.10 times on Day 2

German insurance giant Ergo is said to be in talks with public sector banks to form a life insurance joint venture.

Ergo, banks in talks for life insurance JV

India&rsquo;s monetary policy would be &ldquo;conditioned&rdquo; by risks to global economic growth even as inflation remained a &ldquo;visible&rdquo; concern, Reserve Bank of India&rsquo;s (RBI&rsquo;s) Deputy Governor Subir Gokarn said.

Global risks to shape monetary policy: Gokarn

State Bank of India (SBI), which is struggling to meet the regulatory mandate of 70 per cent provision coverage ratio (PCR) by September, has sought a one-year extension to comply with the norm.

SBI seeks PCR deadline extension till September '11

The guessing game by banks on each other&rsquo;s base rate is expected to be over soon when country&rsquo;s top bankers meet &ndash; at the behest of State Bank of India (SBI) &ndash; to discuss the new loan pricing mechanism.

Banks meet on cards for base rate consensus

After the Jaipur Stock Exchange (JSE), the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) have sent showcause notices to Bank of Rajasthan (BoR). These question the bank for the delay in informing them about BoR&rsquo;s merger with ICICI Bank.

BSE, NSE issue notices to Bank of Rajasthan for late info

The Reserve Bank of India (RBI) on Wednesday announced special measures to provide liquidity in the system, which may face a cash crunch because of huge outgo on third generation (3G) telecom spectrum licences and payment of advance tax by companies.

RBI announces measures to boost liquidity

Finance News: Latest investing news and finance headlines straight from Business Standard.

Page 2672 - Finance News