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

Business Standard

Backed by robust growth in treasury income, Allahabad Bank posted an eight-fold rise in net profit to Rs 333.59 crore for the quarter ended September 2009 as against Rs 41.60 crore in the corresponding quarter a year ago.

Allahabad Bank profit up eight-fold to Rs 333 cr

According to the latest fortnightly data released by the Reserve Bank of India (RBI) this evening, during the fortnight ended October 9, 2009, bank credit grew Rs 17,160 crore. Bankers said a part of the increase was during the last four days of September, when banks tried to meet their second-quarter targets for sanctioning and disbursing loans.

Credit growth at a 12-year low of 10.75%

Credit Suisse Group AG, Switzerland&rsquo;s biggest bank by market value, reported the highest quarterly profit in more than two years on gains from trading.

Credit Suisse posts third straight quarterly profit

&lsquo;Opaque lending structure needs to be changed&rsquo;.

RBI raps banks for charging more from retail clients

Tuticorin-based Tamilnad Mercantile Bank (TMB) has set a target of Rs 20, 000 crore business by March 2010 from the present Rs 16,000 crore.

TMB eyes Rs 20,000 cr business

Provision of a unique identity (UID) for person comprising his or her demographic and biometric details will become a power catalyst for achieving financial inclusion in the country, according to Nandan Nilekani, chairman of Unique Identification Authority of India (UIDAI).

UID to be catalyst for financial inclusion

The Indian rupee appreciated by 28 paise to 46.46 a dollar in early trade today as the US currency weakened against other Asian currencies.

Re appreciates by 28 paise, at 46.46/$

To facilitate flow of credit to various sectors of the state&rsquo;s economy including the micro, small and medium enterprises (MSMEs), ancillary and downstream industries, the state owned Industrial Promotion and Investment Corporation of Orissa Ltd (Ipicol) today entered into a pact with the Central Bank of India (CBI).

Central Bank, Ipicol ink pact for Rs 25,000 crore funds

Thrissur-based Dhanalakshmi Bank on Saturday reported 28.7 per cent fall in net profit for the quarter ended September 30 to Rs 6.26 crore, as compared with Rs 8.78 crore recorded in the same period of the previous year.

Dhanalakshmi Q2 net drops 28.7%

Private sector Karnataka Bank said its net profit declined by 77.78 per cent to Rs 16.35 crore for the quarter ended September 30, 2009, over the same period last year.

Karnataka Bank Q2 net dips 77.78%

Press Trust of India

The Reserve Bank of India (RBI) may de-license or leave it to banks to open branches in rural and semi-urban centres, in a step towards liberalising its branch authorisation policy.

RBI mulls allowing banks to decide on branches

The Reserve Bank of India (RBI ) has started a review of the new bank licensing norms.

RBI starts review of new bank licensing norms

Citigroup Inc and Bank of America Corp paid top executives an average of $18.2 million each last year as the banks accepted $90 billion of bailout funds, records from Treasury Department paymaster Kenneth Feinberg show. Citigroup paid $390.2 million to 21 people, an average of $18.6 million each, the records released on October 22 show.

Citi, Bank of America managers averaged $18 mn pay in 2008

The Indian rupee rose marginally by 2 paise per US dollar at 46.48 in opening trade today, on hopes of higher capital inflows from foreign funds as the domestic stock market may open higher tracking the firm trend in the Asian markets.

Rupee up 2 paise against dollar

The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 117.07 crore under Rural infrastructure development fund (RIDF) XV to West Bengal.

Bengal gets Rs 117.07 crore from Nabard

Commercial banks have not done enough in extending small credit to needy borrowers in the country, Naina Lal Kidwai, chief executive officer, HSBC India said on Monday.

Banks fare poorly in micro-finance: Kidwai

Treasury Secretary Timothy Geithner&rsquo;s plans to lock in near record-low borrowing costs in 2010 may mean a second year of losses on longer-term bonds.

Geithner widens bonds gap with new sales

The Reserve Bank of India (RBI) may leave the policy rates untouched when it reviews the monetary policy on Tuesday, HSBC India CEO Naina Lal Kidwai said on Monday. TY Prabhu, chairman of the Oriental Bank of Commerce (OBC), seconded her views. The bankers, however, agreed there might be a small increase in the cash reserve ratio (CRR) as the system was flushed with funds.

No change in key rates expected, CRR may be hiked: Banks

Absence of private and foreign banks and general slowdown behind poor show.

Resource flow to commercial sector drops 28%

The Bangalore-based public sector lender, Canara Bank, today said it aims to touch an aggregate business mix of Rs 4 lakh crore, compared to Rs 325,000 crore as of March 2009, a growth of 23 per cent over last year. The total business will comprise of Rs 2,25,000 crore deposits and Rs 1,75,000 crore advances.

Canara Bank sees 23% growth in business

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