Hinduja group-promoted Indusind Bank today said its net profit rose by 95.38 per cent to Rs 88.04 crore for the quarter ended December 31, against Rs 45.06 crore in the same period a year ago.

Indusind Bank Dec qtr net up 95% to Rs 88 cr

Press Trust of India

Major US banks and securities firms are moving towards paying their employees a record sum of about $145 billion in compensation for 2009, despite facing public ire over exorbitant executive pay packets.

Wall Street employees set to get $146 bn

The Asian Development Bank today said India is poised for a strong recovery this year and urged policymakers to address rising inflation and widening fiscal deficit to insulate itself against future shocks.

India to see solid economic recovery in 2010: ADB

Banking major JPMorgan Chase &amp; Co today reported a nearly five-fold jump in profit to $3.3 billion in the fourth quarter of 2009, fuelled by strong performance by its investment banking segment.

JPMorgan Chase Q4 profit soars to $3.3 bn

Buoyed by a robust 48 per cent growth in its fee-based income, IDBI Bank has clocked a 29 per cent jump in net profit at Rs 287 crore in the third quarter ended December 31 from Rs 223 crore in the year-ago period.

IDBI Bank Q3 net up 29% at Rs 287 cr

Presidents of the Urban Co-operative Banks (UCBs) of the three districts of Mysore, Chamarajanagar and Mandya have appealed to the Reserve Bank of India (RBI) to withdraw the new norm introduced recently reducing the NPA calculation period to 90 days from the earlier 180 days.

Co-op banks feel new RBI norm blocks progress

Business Standard

It is estimated that peer-to-peer (P2P) lending will soar at least 66 per cent to $5 billion of outstanding loans in the next three years. Customers who lose their jobs will find it difficult to get loans to cover periods of unemployment, said a report from Gartner Inc, an information technology research and advisory company.

P2P lending to increase 66% by 2013 : Gartner

Low interest rates helped banks report healthy growth in the third quarter of the current financial year.

Low rates help banks post robust growth

Banks withdrew heavily from mutual funds (MFs) in the last fortnight of December. The reason: High credit growth and provisions for liquid funds at the end of the quarter.

Banks withdraw over Rs 1 lakh cr from MFs

Wall Street firms, facing pressure from lawmakers and shareholders to rein in pay, may report smaller bonus pools because of lower fourth-quarter revenue and mounting public outrage, analysts say.

Wall Street may reduce compensation costs

Axis Bank today announced the appointment of Adarsh Kishore as non-executive chairman. Kishore, who just returned to India after completing his term as executive director at the International Monetary Fund, replaces PJ Nayak, who was chairman and chief executive till July. In addition, former LIC chairman S B Mathur has been appointed an additional independent director.

Adarsh Kishore is Axis Bank chairman

HDFC Bank&rsquo;s board today decided to give a three-year extension to Managing Director Aditya Puri. His term was to end in March. Puri has been with the bank since its inception. HDFC Bank said the appointment was subject to shareholder and regulatory approvals.

Puri to get another term at HDFC Bank

Ahead of the Reserve Bank's (RBI) monetary policy review slated for later this month, central bank Governor D Subbarao today met Finance Minister Pranab Mukherjee.

RBI Governor meets FM ahead of monetary review

President Pratibha Patil today asked the Reserve Bank (RBI) to consider evolving a mechanism to give loans to women Self-Help Groups (SHGs), particularly those comprising members below the poverty line, at not more than four per cent annually.

Provide credit to women SHGs at 4%, President tells RBI

Finance Minister Pranab Mukherjee today exuded hope that a woman would soon occupy the coveted post of the RBI Governor, so far a male domain.

A woman may be RBI top brass soon, hopes Pranab

China&rsquo;s foreign exchange reserves surged to a record level in December and new loans exceeded forecasts, raising stakes in Premier Wen Jiabao&rsquo;s campaign to avert asset-price bubbles.

China forex reserves hit record $2.4 trillion

Reserve Bank of India (RBI) Governor D Subbarao today met Finance Minister Pranab Mukherjee, ahead of the central bank&rsquo;s Monetary Policy Review on January 29. The meeting assumes significance since budget consultations are also in the full swing. Besides, a rollback of the stimulus measures is being debated.

Subbarao meets FM for pre-policy consultation

With the Reserve Bank of India (RBI) increasing the cap on mobile banking to Rs 50,000 a day, more than 50 per cent of account holders are expected to come under this platform in the next five years, a leading service provider said.

Over 50% account holders to be under mobile banking by 2015

The yield on government bonds is expected to move in range awaiting fresh signals on monetary policy stance ahead of third quarter review.

Bond yield to remain range bound

Most people are not surprised with Ajay Adiseshann&rsquo;s regular use of his mobile handset for paying utility bills and making other purchases, like booking movie tickets. After all, Adiseshann is the founder and managing director of mobile commerce (m-commerce) company PayMate.

Will that be cash, card or phone?

The consolidated farm credit potential in Uttar Pradesh has been pegged at Rs 51,400 crore for the 2010-11 fiscal by National Bank for Agriculture and Rural Development (Nabard).

NABARD pegs UP farm credit potential at Rs 51,400 crore

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