India&rsquo;s third-largest private sector lender, Axis Bank, today announced a major reshuffle of its top management as it consolidates its banking as well as non-banking businesses into four units.

Axis Bank brass reshuffled

Business Standard

State Bank of Mysore (SBM) will restructure agriculture loans to the tune of Rs 1,200 crore in the flood affected districts of North Karnataka. The bank is predominant in four of the 14 districts affected by the floods.

SBM to restructure loans of flood-hit

A $320-million (approximately Rs 1,568 crore) loan to design, improve the quality, capacity and safety of roads in Andhra Pradesh has been approved by the World Bank. The loan is from the International Bank for Reconstruction and Development (IBRD) and has a maturity of 30 years, including a grace period of 5.5 years.

WB approves $320 million for Andhra roads

The Reserve Bank of India (RBI) has called for interaction among regulators of various countries to deal with systemic risks arising out of complex and interconnected financial entities.

Inter-regulatory dialogue must: RBI

Indicating a spurt in economic activities, payments made through debit cards rose over 40 per cent to Rs 9,911 crore in the first five months of this fiscal over the year-ago period.

Debit card payments rise over 40% in Apr-Aug

Press Trust of India

The Reserve Bank of India (RBI) may not raise its key policy rates at the monetary policy review on October 27, but there is an outside risk of an increase in bank cash reserve requirements, or the cash reserve ratio (CRR).

RBI may not raise key policy rates

An excess liquidity in the system enabled companies and banks to raise short-term funds through issuance of commercial papers (CPs) and certificate of deposits (CDs) at lower rates during the first half of the financial year.

Firms avail of cheap short-term funds

Indicating a spurt in economic activities, payments made through debit cards rose over 40 per cent to Rs 9,911 crore in the first five months of this financial year over the year-ago period.

Payments by debit card rise over 40% in April-August

Put plans on hold after HK caps expansion, Singapore orders stricter asset norms.

Indian banks hit the rule wall in Singapore, Hong Kong

Non-banking financial companies (NBFCs) have sought exemption from minimum alternate tax (MAT) under the proposed direct tax code. The companies have told the finance ministry about their reservations on the code.

NBFCs seek exemption from MAT

Moody&rsquo;s Investors Service on Monday assigned Baa2 long-term rating to State Bank of India&rsquo;s (SBI&rsquo;s) senior unsecured bond issue under its existing medium-term note programme.

Moody&#39;s assigns Baa2 to SBI issue

Banks are witnessing a sharp rise in online transactions as an increasing number of customers log on to the internet to pay their utility bills. Telephone bills, mainly mobile bills, are primarily driving the transactions, followed by insurance premiums and electricity bills.

Net transactions show 10% monthly growth

State Bank of Hyderabad, an associate bank of State Bank of India, will set up 150 branches by March next year, of which about 50 per cent would be outside Andhra Pradesh.

SBH to set up 150  branches by March

National Bank for Agriculture and Rural Development (Nabard) will launch 3,000 Farmers&rsquo; Clubs across Uttar Pradesh in the current fiscal.

Nabard to launch 3,000 Farmers' Clubs in UP

With an aim to achieve total financial inclusion by 2012, the National Bank for Agriculture and Rural Development (Nabard) has joined hands with the Indian Institute of Banking &amp; Finance(IIBF), Mumbai for training business correspondents and business facilitators.

Nabard joins hands with IIBF for financial inclusion

Future Generali India Life Insurance, the insurance joint venture between Kishore Biyani-promoted Future Group and Italian insurance major Generali Group, plans to recruit additional 14,000 agents during the current fiscal.

Future Generali to recruit 14,000 more agents

Are you not happy with the services being offered by State Bank of India ? Do not worry; you are just one SMS away from getting your grievances addressed.

Not happy with SBI, just SMS 'Unhappy'

The Indian rupee strengthened by 28 paise against the US currency in early trade today following dollar's weakness against other currencies.

Re appreciates 28 paise at 46.01/$

The benchmark prime lending rate (BPLR) is set to give way to a new loan pricing regime. Called Base Rate by a committee of the Reserve Bank of India (RBI), it will represent the bare minimum rate below which it will not be viable for banks to lend.

RBI moots new norms for pricing loans

Andhra Pradesh Grameena Vikas Bank (APGVB), a regional rural bank sponsored by State Bank of India, has selected IBM's hardware platform to run its mission critical core banking application.

AP Grameena Bank selects IBM's hardware platform

Central bank may mandate capital adequacy norms, separate branding.

RBI to tighten norms for bank VCs

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