Standard Chartered Plc has got an approval from the Reserve Bank of India to list on the country's stock exchanges, but the bank is yet to approach market regulator Sebi for selling its depository receipts, a top bank official said.

StanChart gets RBI nod to list on Indian stock exchanges

Press Trust of India

Private sector Dhanalakshmi Bank has lowered its deposit rates by up to 1 per cent.

Dhanalakshmi Bank trims deposit rates up to 1%

Birla Sun Life AMC today announced dividends in three equity funds and one balanced fund scheme.

Birla Sun Life declares dividends

Business Standard

The financial major had a net profit of Rs 534.23 cr in the September quarter last fiscal, HDFC said in a filing to the Bombay Stock Exchange (BSE).

HDFC Q2 net rises 24% at Rs 664 cr

Insurance sector regulator, IRDA, is considering whether to allow banks to tie-up with two-to-three insurance companies to sell their insurance products, a senior IRDA official said.

IRDA to allow banks to tie up with 2-3 insurance cos

Govt to up stakes in 3 banks

City-based non-banking finance company, SKS Microfinance, has been rated PR1+ SO by Credit Analysis and Research Limited (CARE) in accord with its securitised portfolio worth Rs 137 crore with YES Bank.

SKS Micro gets CARE rating

Making a strong case for delaying the withdrawal of accommodative monetary stance of the Reserve Bank of India, some of the bank heads who met Governor D Subbarao in the customary pre-credit policy meeting said credit growth might fall short of the central bank&rsquo;s projection of 20 per cent.

Credit growth may be slow: Bankers

Kerala-based South Indian Bank has registered a 40.43 per cent growth in net profit of Rs 72.57 crore for the quarter ended September 30, 2009 as against Rs 51.68 crore in the corresponding previous quarter.

South Indian Bank net profit up by 40%

The Reserve Bank of India (RBI) has set no target level for the rupee and would only limit volatility in the &ldquo;market-driven&rdquo; exchange rate, Deputy Governor Usha Thorat said in Singapore today. The rupee has advanced almost 12 per cent from a record low of 52.185 a dollar touched in March as the nation witnessed a revival in capital inflows. RBI&rsquo;s ability to invest its foreign-exchange reserves, the world&rsquo;s fifth-biggest, was limited by the current account deficit, she said.

No target level for rupee, says RBI

Continuing the good run in its trading room, India&rsquo;s third-largest private sector lender Axis Bank saw a 32 per cent increase in net profit to Rs 531.64 crore for the quarter ended September 30, 2009 as against Rs 402.91 crore in the corresponding period last year.

Axis Bank net growth slows to 32%

After recently venturing into mutual funds, Axis Bank on Monday announced that it plans to setting up a non-banking financial company (NBFC) to fund infrastructure activities.

Axis to set up infra NBFC

When finance minister Pranab Mukherjee comes to Kolkata on October 24 to meet the heads of public sector banks in the east, the minister might prod individual banks on half-yearly targets.

Bankers gear up to meet Pranab

Mortgage lender Housing Development Finance Corporation (HDFC) has posted a 24 per cent rise in net profit for the second quarter ended September 2009 at Rs 663.94 crore from Rs 534.23 crore in the comparable quarter a year ago.

HDFC net up 24% in Q2

South Indian Bank (SIB) has posted the highest-ever quarterly net profit of Rs 72.57 crore in the second quarter of the current financial year as against Rs 51.68 crore in the second quarter of the previous year, registering a growth of 40.43 per cent. The bank&rsquo;s net profit for the first half of the financial year has grown 46.93 per cent to Rs 132.68 crore.

South Indian Bank posts 40% growth in Q2 net

Punjab &amp; Sind Bank, one of the two unlisted public sector banks in the country, is aiming to dilute government holding by 20-25 per cent through initial public offer (IPO) in the first half of the next fiscal.

Punjab & Sind Bank IPO likely before Sept 2010

Almost all the nationalised banks are seeking fresh infusion of funds by the government to enhance their capacity to lend and maintain healthy solvency ratio, an indicator of bank's ability to meet the long-term debt requirement.

18 PSU banks seek capital infusion

Corporation Bank today said it has sought financial assistance from the government to meet its credit growth need of about 25 per cent in the next three fiscal.

Corporation Bank seeks financial assistance from govt

Punjab &amp; Sind Bank, one of the two unlisted public sector banks in the country, is aiming to dilute government holding by 20-25 per cent through an initial public offer (IPO) in the first half of the next financial year.

Punjab & Sind Bank IPO likely before Sept 2010: CMD

In the quarter ended June 2009, the bank had recorded a net loss of Rs 35.3 crore. It expects a turnaround in 6-9 months. Total income, comprising interest and other income, in the reporting quarter fell to Rs 145.74 crore from Rs 201.31 crore.

DCB Q2 net loss at Rs 16.9 crore

Barclays Global Retail and Commercial Bank (GRCB) India today said its customers of business loans who are regular in the repayment of their EMIs over a 12-month period would benefit from a lowering of interest rates for the remaining tenor of the loan.

Barclays lowers int rates for regular EMI payee

Finance News: Latest investing news and finance headlines straight from Business Standard.

Page 2789 - Finance News