The increase in the cash reserve ratio (CRR) has started taking a toll on interest rates, with Axis Bank withdrawing its teaser home loan scheme two months before schedule.

Axis Bank kicks off teaser loan exit

Business Standard

Teaser interest rate schemes might have drawn flak from the central bank earlier but the Reserve Bank of India (RBI) now wants banks to extend fixed-cum-floating rate home loans to everyone.

But RBI now wants teaser rate schemes for all

State owned Bank of Baroda cancelled its planned benchmark sale of bonds denominated in US dollars, according to three people familiar with the matter.

Bank of Baroda cancels dollar bond issue

The advances of National Bank for Agriculture and Rural Development (Nabard) to Uttar Pradesh touched almost Rs 1,300 crore for various rural infrastructure projects in the current financial year. These advances under Rural Infrastructure Development Fund (RIDF) would be utilised for several ongoing rural infrastructure projects, including canals, roads and irrigation.

Nabard advances to UP touch Rs 1,300 crore

Bank puts all 13,000 branches on core banking platform.

SBI launches hard drive on software

Indian banking is stronger on vital banking parameters than other BRIC nations, according to a survey carried out by industry body Federation of Indian Chambers of Commerce and Industry (Ficci). According to the survey, the Indian banking system has maintained its resilience and continues to provide growth opportunities.

Indian banking stronger than BRIC counterparts: Ficci survey

Insurers are venturing alone into the general insurance arena, following tie-ups with global players not working out.

Religare opts for solo entry into health insurance business

The yield on the government bond may continue to remain under pressure on concerns over government&rsquo;s large borrowing programme for the next financial year (2010-11).

Government bond yields to remain under pressure

The National Bank for Agriculture and Rural Development (Nabard) has sanctioned West Bengal Rs 857.81 crore during the year 2009-10 so far, the highest ever sanctioned to the State under Rural infrastructure development fund (RIDF). Recently, it has sanctioned Rs 197.51 crore under the fund, which includes Rs. 10.19 crore for cost escalations in respect of earlier tranches, to the state government.

Nabard grants Bengal Rs 857 cr for rural infra

HDFC Bank has rolled out its electronic payment gateway for the Golden Temple, Amritsar.

HDFC bank launches e-payment for religious institutions

Andhra Bank, one of the leading public sector banks in the country, expects to achieve a net profit of Rs 1000 crore by the end of the current fiscal.

Andhra Bank eyes Rs 1,000-crore net profit

The rupee appreciated by four paise to 46.69 against the greenback in morning trade on mild selling of dollars from banks on hopes of capital inflow.

UPDATE: Rupee edges up 4 paise at 46.69 against $

Press Trust of India

Financial services major Citigroup has begun talks with private equity groups and hedge funds over the sale of $3 billion-worth of car loans as part of its efforts to cleanse its balance sheet, says a media report.

Citigroup seeks to sell $3 bn worth car loans: report

Private equity funds are looking at emerging markets as their investment destination in 2010, and India has emerged as the second most preferred country after China for investment, says a survey.

PEs preferring China, India for investments in 2010

Deutsche Bank plans to expand its equity capital markets and merger advisory operations in Asia to help push regional revenues above euro 4 billion ($5.5 billion) by 2011, says a media report.

Deutsche Bank plans to develop Asian ops: report

The State Level Bankers&rsquo; Committee (SLBC) has initiated steps to begin a renewed drive to achieve financial inclusion in the state by opening &ldquo;no frills&rdquo; accounts for families that do not have a bank account. It has set a target to bring all villages in Karnataka with a population of more than 2,000 under the banking fold by March 31, 2010, a senior banker said.

Financial inclusion to cover villages of over 2,000 people

The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 69.89 crore for infrastructure development as the 15th tranche of the Rural Infrastructure Development Fund (RIDF XV) to the Karnataka government. With this, the cumulative sanctions under the present tranche (RIDF XV) to the state have reached Rs 642.36 crore.

Nabard sanctions Rs 70 cr to state under RIDF

Rush to launch issues before interest rates start rising.

NBFCs plan second round of retail bond issues

The interest income on investment in these bonds will be exempt from income tax under item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 under whose name the bonds would be registered, an official statement said.

FinMin allows IRFC to issue Rs 5,000-crore tax-free bonds

Punjab National Bank (PNB), the second largest public sector bank in the country, expects to cross a business of Rs 4000 crore in Orissa by the end of 2009-10, a 23.45 per cent growth over Rs 3240 crore business achieved in the previous fiscal. The bank expects to exceed its total business target of Rs 3975 crore for 2009-10 which includes Rs 2710 crore deposits and advances worth Rs 1265 crore.

PNB expects to cross Rs 4000 cr business in Orissa

Banks should have taken the Reserve Bank of India&rsquo;s (RBI&rsquo;s) intended message on teaser loan rates, said Deputy Governor Usha Thorat today in response to a question on whether there was any headway in the teaser loan rate issue.

Banks should have taken RBI message on teaser rates, says Usha Thorat

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