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

Business Standard

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

The Chinese Yuan seemingly pegged to the falling US dollar, it is helping Indian apparel companies find inputs for the products at bargain prices.

Apparel makers eye China for low cost fabrics

With the government raising over 80 per cent of its planned borrowings in the first half of the financial year on the back of adequate liquidity in the system, the fear of private credit getting crowded out have subsided, according to the Reserve Bank of India (RBI).

Higher govt borrowings do not crowd out private credit

Although year-on-year inflation is still only 1.2 per cent, strong upward trends seen in the Wholesale Price Index (WPI) inflation and the persistence of high Consumer Price Index (CPI) inflation are a cause of concern, the Reserve Bank of India (RBI) said in its pre-monetary policy review today.

High inflation rates a cause for concern

Professional forecasters have added to Reserve Bank of India (RBI) Governor Duvvurri Subbarao&rsquo;s dilemma on timing the exit from an accommodative monetary policy stance.

Growth forecast falls to 6% in RBI survey

Indian Bank posted a 31.48 per cent growth in net profit to Rs 371.99 crore for the quarter ended September 30, 2009, as compared with Rs 282.92 crore in corresponding period last year. Total income was up 14.4 per cent to Rs 2,174.38 crore as against Rs 1,900.93 crore during the period. Net interest income grew 11 per cent to Rs 759 crore from Rs 682 crore and non-interest income too was up 11.48 per cent to Rs 237.21 crore as against Rs 212.78 crore.

Indian Bank net up 32%

ING will sell its stake in the life insurance business by 2013 as part of its ongoing Back to Basics programme by moving towards complete separation of its banking and life insurance operations.

ING writes to Irda on move to split biz

State-run IDBI Bank has raised a $225-million foreign currency loan to fuel its business growth and plans to raise $1.5 billion through a bond issue by early next year, its chairman said.

IDBI Bank raises $225 million loan

Press Trust of India

Close on the heels of signing a memorandum of understanding (MoU) with the public sector State Bank of India (SBI) for implementing electronic benefit transfer (EBT) mechanism for beneficiaries under the National Rural Employment Guarantee Scheme (NREGA), the Orissa government is in the process of framing guidelines for &lsquo;social audit&rsquo; in works taken up under NREGS.

Orissa to frame guidelines for social audit in NREGS

The Singapore government and its investment arm, Temasek Holdings, have been gradually reducing stake in ICICI Bank, their one of their biggest investments in India, by selling shares in the secondary market.

Singapore government, Temasek pare stake in ICICI

Net interest income growth still remains subdued.

Treasury, fee-based income save the day for govt banks

Continuing with its yesterday's losses, the Indian rupee today depreciated by another 25 paise to 46.89 against the US currency in early trade, largely on the back of dollar's gains against other Asian units.

Rupee down 25 paise against US dollar in early trade

The Reserve Bank of India today in its quarterly review of the Credit Policy left key rates unchanged.

RBI leaves key rates unchanged, hikes SLR by 1%

Aiming to tackle inflationary pressures, the Reserve Bank today increased a key statutory deposit ratio for banks by one percentage point to 25 per cent but the move is not expected to push interest rates up.

RBI moves to contain inflation without hurting growth

Kerala-based South Indian Bank (SIB)has started providing service for NRIs joining the New Pension Scheme (NPS) implemented by the Pension Fund Regulatory and Development Agency (PFRDA).

SIB launches NRI service under New Pension Scheme

Retail and corporate loan rates may stay the same as bankers today ruled out any increase in lending rates in the next three to four months, thanks to the RBI keeping almost all key rates unchanged.

Interest rates likely to stay stable for 3-4 months: Bankers

Allahabad Bank Chairman and Managing Director K R Kamath has been appointed as the chief of the country's second largest public sector lender, Punjab National Bank (PNB).

Govt appoints K R Kamath as CMD of PNB

To increase banking penetration and promote financial inclusion, the Reserve Bank today relaxed branch opening norms for lenders while allowing more entities to work as business correspondents.

RBI relaxes branch licensing, biz correspondent norms

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