About 3,500 villages in Gujarat, each with more than 2,000 population, will get banking facilities thanks to initiative taken by Reserve Bank of India (RBI), Gujarat State Bankers Committee (SLBC) sources said today.

3,500 villages in Gujarat to get banking facilities

Press Trust of India

The National Bank for Agriculture and Rural Development (Nabard), which has begun the process of restructuring its business operations, is not averse to the idea of setting up a bank, its Chairman today said.

Nabard not averse to diversify into banking

The government today said the two regulators Sebi and IRDA have agreed to maintain the status quo that existed before market regulator's ban on 14 life insurers from raising funds for unit-linked schemes.

FinMin puts Sebi's Ulips order on hold

Reliance Capital (R-Cap), the holding company of Anil Ambani Group's insurance ventures, today said regulator IRDA's direction to ignore the Sebi order, which banned 14 companies from selling ULIP products, has addressed &quot;immediate concerns&quot; and protected interest of policyholders.

IRDA's order addresses immediate concerns: R-Cap

The Asian Development Bank (ADB) today said its lending rates will go up by 0.1 per cent from July 1 for all sovereign borrowers to 0.3 per cent over the Libor, an international reference rate for banks.

ADB to hike lending rates from July

The National Bank for Agriculture and Rural Development (Nabard), which has begun the process of restructuring its operations, is not averse to entering the commercial banking space, its chairman here here today.

Nabard not averse to entering banking biz: chairman

State-run Allahabad Bank has said its total business touched Rs 1,79,000 crore during the 2009- 10 fiscal, exceeding the target of Rs 1,75,000 crore.

Allahabad Bank business touches Rs 1.79 lakh cr

State-owned Bank of India today said it has raised $500 million through the issue of notes.

Bank of India raises $500 mn

The disbursement of investment credit by the National Bank for Agriculture and Rural Development (Nabard) to the Karnataka government dropped 29.1 per cent to Rs 745 crore during 2009-10 compared with the previous year. The overall assistance from Nabard for the state during 2009-10 was Rs 3,472 crore, a growth of 15-16 per cent over the previous year.

Nabard's investment credit to B'lore drops

Business Standard

RBI to revisit ceiling once bonds issuance hits Rs 35,000 crore.

MSS issue size fixed at Rs 50,000 cr

International Finance Corporation (IFC), the lending arm of World Bank, is planning to invest around $15 million (around Rs 66 crore) in Aavishkaar Goodwell India Microfinance Development Company II (Aavishkaar Goodwell II), a 10-year-old private equity (PE) fund which supports enterprises active in the microfinance sector in India.

IFC likely to invest $15 mn in Mumbai PE fund

Members of the Reserve Bank of India (RBI) committee could not reach a consensus before issuing a set of directives on the base rate for banks last week. The committee was formed to provide guidelines for determining lending rates and bring in more transparency in the system.

Lack of consensus led to RBI move on base rate

Starting Q3, Aga Khan Foundation to cut holding through QIP, rights issue.

DCB promoters get time till 2014 to reduce stake

The loans provided to the banking system by way of refinance for short-term crop production and long-term investment activities for capital formation in agriculture, non-agriculture and services sector formed the largest share of this financial assistance at 73 per cent.

Nabard's financial assistance at Rs 2297 crore

The country should welcome capital inflows and not place any direct restriction on such funds, Chief Economic Adviser to the Finance Ministry Kaushik Basu said.

FinMin advisor against restrictions on capital flows

The state-run National Bank for Agriculture and Rural Development (Nabard) indicated that it has not rule out diversifying into banking.

Diversifying into banking a possibility: Nabard

The village of Jamburi Hapsi, located a few hours off the road to the Indore airport, has no bank branch in a 7-8 km radius. According to Pravin Bansal, general manager for transaction banking at Union Bank of India, that makes it a perfect candidate to try out the latest tool for financial inclusion.

Financial inclusion gets another boost

Leading mortgage lender Dewan Housing Finance (DHFL) plans to float a housing finance subsidiary targeting the low-income segment in a joint venture partnership with International Finance Corporation (IFC).

DHFL plans to float housing finance arm with IFC

Life insurance companies today said the government's intervention to end the turf war between the Securities and Exchange Board of India (Sebi) and IRDA will clear confusion among investors over ULIPs and help in reverting to normal business.

Govt intervention will end row over ULIPs: insurers

State-run lender Punjab National Bank (PNB) today ruled out any increase in interest rates in the near future saying there is enough liquidity in the system.

PNB rules out interest rate hike in near term

Housing Development Finance Corporation (HDFC) plans to raise up to Rs 25,000 crore through non-convertible debentures (NCDs) in the current financial year through private placements.

HDFC to raise Rs 25,000 cr through NCDs

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