The Indian rupee today depreciated by 33 paise against the US currency in early trade on strong demand from importers for the dollar, which rebounded against other major currencies.

Rupee at 46.44/$, down 33 paise

Press Trust of India

In a signal that interest rates would remain benign for another few months, the Prime Minister&rsquo;s Economic Advisory Council (PMEAC) today said the current monetary policy stance would continue till March. The council said the accommodative policy should be phased out but the timing would depend upon economic revival and inflationary pressures.

PM's council expects benign rates till March

Business Standard

Central Bank of India has started restructuring its home finance subsidiary, Centbank Home Finance, in an attempt to raise the valuation of the mortgage company before selling it.

Central Bank starts process to sell mortgage arm

The finance ministry has asked public sector lender IDBI Bank to explore other options before finalising plans to sell its mortgage finance arm, IDBI Home Finance (IHFL).

Govt asks IDBI to review mortgage arm sale decision

Buoyed by a 90 per cent growth in non-interest income, private sector lender Yes Bank reported a 75.6 per cent growth in net profit to Rs 111.7 crore for the quarter ended September 30 from Rs 63.6 crore in the corresponding quarter of the previous year.

Yes Bank net up 76%

State Bank of Travancore (SBT) has posted a net profit of Rs 122 crore for the second quarter of this year, as against Rs 113 crore in the same period of last year, a growth of 7.6 per cent. The profit before tax for the quarter increased marginally to Rs 180 crore from Rs 179 crore.

SBT profit rises 7.6% to Rs 122 cr

Unraveling a GPF (General Provident Fund) scam of at least Rs 1.5 crore in the Primary Health Centre at Muzaffarpur, the Nawanshahr district police here arrested one senior medical officer, a pharmacist-cum-accountant, who was the kingpin of the scam, and a multi-purpose health worker, while two former medical officers of the centre are on the run after a sessions court rejected their bails.

Rs 1.5-crore GPF scam unearthed, 3 arrested

The proposal is to create 8-10 large banks.

FinMin working out plan to merge banks

Standard Chartered Bank expects a steady 13-15 per cent growth in credit over the next one year, a top company official said on Wednesday. &ldquo;We&rsquo;ve seen a fairly steady credit growth, about 13 to 15 per cent. We see that continuing for another year,&rdquo; said Neeraj Swaroop, Chief Executive, Standard Chartered (India and South Asia).

StanChart sees credit growth at 13-15 per cent

State Bank of India (SBI) has got the finance ministry&rsquo;s clearance to start talks to merge its subsidiary, State Bank of Indore, with itself.

SBI-State Bank of Indore merger talks approved

Foreign banks record 7.6% drop in credit flow, private players see 3.7% growth.

Govt-owned banks increase market share

Extending losses for the second day the Indian rupee today depreciated by another 15 paise to 46.63 against the US currency in early trade largely on the back of dollar's gains versus major currencies and Asian units.

Re down 15 paise, at 46.63/$ in early trade

The Reserve Bank of India (RBI) is likely to wait for a further rise in inflation before it raises its benchmark lending and borrowing rates around December or January, HDFC Bank said today.

Further rise in inflation may trigger RBI rate hike: HDFC

Swiss banking major Credit Suisse Group today returned into black with a third quarter profit of 2,354 million Swiss francs, riding on the strong performance by its investment banking business.

Credit Suisse swings into profit in Q3

At a time when the banking regulatory structure is under review internationally, the Reserve Bank of India (RBI) today made a strong pitch for status quo and argued that steps taken by it had helped local financial institutions get away unscathed from the global crisis.

RBI bats for regulatory status quo

Pointing to the liquidity problems that non-banking financial companies (NBFCs) faced during last year&rsquo;s financial crisis, the Reserve Bank of India (RBI) said NBFCs lacked access to low-cost funding, leading them to resort to unsecured loans to build their asset base.

Alarm raised over lack of funding for NBFCs

Rupee dropped, completing the biggest two-day loss in two months, as declines in local stocks spurred speculation capital inflows will slow.

Rupee drops to two-week low

With banks increasing their dependence on bulk deposits to fund credit growth, the Reserve Bank of India (RBI) today emphasized on strengthening liquidity management for shoring up core deposit base and keep adequate cushion of liquid assets to meet unforeseen contingencies.

RBI cautions banks on asset-liability mismatch

Axis Bank hired Barclays Plc, HSBC Holdings, JPMorgan Chase &amp; Co and Standard Chartered to help sell its first dollar bonds in two years, according to a person familiar with the transaction.

Axis Bank plans first dollar bonds since 2007

Sounding a note of caution over the declining loan growth rate, now at a 12-year low, the Reserve Bank of India (RBI) today identified slow credit growth as a key challenge for economic recovery.

Supporting credit growth a challenge

Despite a reduction in off-balance sheet exposure of Indian banks in 2008-09, the Reserve Bank of India (RBI) said the regulators needed to be watchful of the invention of the new pooled asset derivatives, which contributed to the financial turmoil in the US.

Off-balance sheet exposure  of banks remains a concern

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