Peerless Funds Management Company, a wholly owned subsidiary of Kolkata-based Peerless General Finance &amp; Investment Company, is scouting for a foreign partner to further strengthen the business.

Peerless arm scouts for foreign partner in new initiative

Business Standard

The Reserve Bank of India (RBI) today said it has reasonable tools to tame inflationary expectations, which along with short supply of food items, is fuelling price rise.

We have reasonable tools to tame inflationary expectations: RBI

Press Trust of India

The Federal prosecutors have come up with fresh charges against Sri Lanka-born billionaire Raj Rajaratnam based on new information they received from co-defendants who pleaded guilty in what has been described as the largest insider trading scam in the US history.

Insider trading: New charges against Rajaratnam

Engineering and construction major Larsen and Toubro (L&amp;T) is likely to start its general insurance business in the first quarter of next fiscal and has got preliminary approval from the Insurance Regulatory and Development Authority (IRDA).

L&T may start insurance biz in Q1 FY11, gets IRDA nod

State-run IDBI Bank today hiked the deposit rates by 0.25 per cent, becoming the first bank to do so after the Reserve Bank of India's recent Cash Reserve Ratio (CRR) hike by 0.75 per cent to 5.75 per cent.

IDBI Bank hikes deposit rates by 25 bps

The credit growth of banks stood around 14.4 per cent for the fortnight ended January 29, building expectations that it could reach the Reserve Bank of India (RBI) projection of 16 per cent by end of the current fiscal.

At 14.4%, credit growth likely to meet RBI estimate

The Reserve Bank of India (RBI) today proposed to replace the current system of benchmark prime lending rate (PLR) from next fiscal with a base rate below which no banks can advance commercial loans.

RBI moots base rate to replace PLR from April

With the shadow of economic slowdown receding, the country's largest private lender, ICICI Bank, has seen a pick up in project finance portfolio, primarily from energy and construction sectors, a bank official said today.

ICICI Bank sees pick up in project financing

The number of credit cards in the country has fallen by a huge 27 per cent to just over 206 lakh since the start of the last fiscal, reflecting the frugal times with the onset of the global financial crisis.

Slowdown effect: Credit card numbers plunge 27%

The Federal Reserve may raise the discount rate &ldquo;before long&rdquo; as part of the &ldquo;normalization&rdquo; of Fed lending, a move that won&rsquo;t signal any change in the outlook for monetary policy, Chairman Ben S Bernanke said.

Discount rate may rise 'before long': Bernanke

Raps banks for teaser loans; banks&rsquo; body yet to respond.

Lower rates for old borrowers too: RBI

Indian Railway Finance Corporation (IRFC) today said it might hit the market with a tax-free bond issue next week. It also said that it would maintain around 20 per cent growth in market borrowings for the next three years.

IRFC to float tax-free bond issue next week

Outstanding bank credit in the 15 days up to January 29 rose by Rs 20,000 crore, pointing to a revival in credit growth.

Bank credit growth at 14.83% hints at revival

IDBI Bank today increased deposit rates by 25 basis points (bps) and also introduced a new slab of 500 days offering 7 per cent rate.

IDBI Bank ups deposit rates, offers new slab

The government did not plan to issue cash management bills or borrow extra from the bond market as of now, a senior finance official said today.

No extra borrowings now, says FinMin source

RBI issues draft norms for shift to base rate.

New loan pricing regime from April

&quot;Please don't expect any action between now and the next announcement unless there is completely unanticipated, unwarranted event,&quot; RBI Deputy Governor Subir Gokarn told reporters on the sidelines of an Assocham seminar here.

RBI to retain its monetary stance till April 20

Improving market sentiments helped the personal computers (PC) sales rise by one per cent to over 37 lakh units during the first six months of 2009-10, mostly driven by demand in the last few months of the financial year.

PC sales up marginally, over 37 lakh units in H1

Private sector lender Dhanlaxmi Bank plans to acquire about 70 per cent stake in a mutual fund, a top bank official said here today.

Dhanlaxmi Bank plans to buy 70% in MF

Bankers have urged the Reserve Bank of India (RBI) to include infrastructure loans in the category of priority sector advances and exempt infrastructure bonds from mandatory cash requirements, as they struggle to finance long-term projects.

Consider infra loans as priority advances: Banks to RBI

Bankers today ruled out any impact on their earnings margins on account of the base rate system proposed by the Reserve Bank of India (RBI) and said the new interest model will enable borrowers bargain effectively to grab a better deal.

Banks welcome base rate; say not to impact margins

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