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

Business Standard

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

India Infrastructure Finance Company (IIFCL) has kicked off work on a $1 billion (Rs 4,600 crore) medium term note programme to raise resources for funding power, road, port and airport projects.

IIFCL plans $1-billion bond issue

39 listed banks see their gross NPAs rise over Rs 15,000 crore in the last 12 months.

Restructured loans, realty, SMEs to test banks' asset quality

The Reserve Bank of India&rsquo;s decision to include technical write-offs for the calculation of provision coverage ratio (PCR) has come as a boon for banks.

Banks relieved at new bad loan norms

The farm debt waiver and relief scheme is still haunting banks.

Farm debt relief comes to haunt banks

The country's largest lender, State Bank of India, today said that the merger of State Bank of Indore with itself will be completed by the end of this fiscal.

Merger of State Bank of Indore to be complete by March: Bhatt

Press Trust of India

Country's largest lender SBI today asserted that the Reserve Bank has not objected to &quot;teaser&quot; home loan rates, which had kicked up a storm in the industry.

RBI has no objections to teaser rates: Bhatt

The Reserve Bank of India (RBI) today simplified the external commercial borrowings (ECB) norms allowing banks to alter the terms of overseas debts including repayment schedule without prior permission from the central bank.

Banks get more leeway to handle ECBs

Ther nation's largest lender State Bank of India (SBI) said here today that its non-performing assets (NPAs) will continue to grow for more sometime, reflecting that all sectors of the economy have not recovered fully.

SBI says NPAs to grow for some more time

Financial services company Morgan Stanley&rsquo;s Asia chief Stephen Roach is more bullish on Indian economy than China. He thinks the Indian government will be able to deliver on fiscal consolidation, disinvestment, tax reforms and infrastructure.

Bullish on India, Morgan Stanley Asia chief says country will deliver on fiscal prudence

Devesh Kumar has joined Fortune Financial Services (India) as the joint managing director and Group CEO with effect from February 8. Kumar is a post-graduate in Economics with around 25 years of experience in diverse entities at various levels.

Devesh Kumar joins Fortune Financial

After Bank of Baroda, BoI keeps global bond offer on hold; IDBI has second thoughts.

Greek crisis takes toll on India Inc's fund-raising

Prolonged period of fiscal stimulus is bad for the normal recovery of an economy, IDBI Bank Chairman and Managing Director Yogesh Agarwal has said.

'Prolonged period of stimulus is bad for economy'

The National Bank for Agriculture and Rural Development has pegged the total credit potential for various sectors in the state at Rs 60,904 crore.

Nabard identifies Rs 60904cr credit potential for AP

Banks can tweak certain terms on their own.

RBI simplifies ECB procedure

Capital flows are coming into India at a faster pace than expected, and in such a situation, liberalising the use of funds raised in the overseas market becomes a challenge, said C S Mohapatra, director, capital markets department of the finance ministry.

Capital flows faster than expected, says FinMin official

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