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

Press Trust of India

The second-quarter macroeconomic and monetary development report released by the Reserve Bank of India (RBI) said concerns on the external sector had receded with revival of capital inflows and a modest level of current account deficit.

Capital inflows lessen external sector blues

Business Standard

Dewan Hosing Finance Limited (DHFL) reported 69.96 per cent increase in its net profit at Rs 37.51 crore for the quarter ended September 30, 2009 as compared Rs 22.7 crore in the corresponding quarter last year.

DHFL net at Rs 37 crore

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.

Rates may stay stable for 3-4 months: Banks

Private sector lender Kotak Mahindra Bank posted 86 per cent growth in consolidated net profit to Rs 300 crore from Rs 160.9 crore in the corresponding quarter last year.

Kotak Mahindra Bank consolidated net up 86 %

Control on operating expenses and growth in margins and other income helped Bank of Baroda (BoB) post a 60.4 per cent rise in net profit to Rs 634.18 crore for the second quarter ended September 2009. Its net profit in July-September 2008 was Rs 395.29 crore.

Bank of Baroda net up 60.4%

The bank&rsquo;s net profit in the same period last year was Rs 162 crore.

Andhra Bank net up 69 per cent

BOC India, a member of The Linde Group, will be investing Rs 600 crore in setting up an air separation unit (ASU) at Tata Steel&rsquo;s plant in Jamshedpur.

BOC India to invest Rs 600 cr in Tata Steel

Banks base credit card, loan decisions on residential address rather than only borrower&rsquo;s income profile.

No loans if your close relative is a defaulter

Subir Gokarn, chief economist for Asia-Pacific at global ratings agency Standard and Poor&rsquo;s and a Business Standard columnist, is slated to be appointed as a deputy governor of the Reserve Bank of India (RBI).

Order soon to make Gokarn RBI deputy governor: FM

The recent farm debt waivers announced by the Centre have potential to cripple the healthy Indian banking sector.

'Farm debt waiver can cripple Indian banking sector'

GMAC, the lender that received two government bailouts totaling $13.5 billion, is in talks with the Treasury Department to receive a third lifeline, a person familiar with the matter said.

GMAC may receive third bailout from US government

Seek inclusion of write-offs; RBI says no to deadline extension.

Banks ask RBI to ease higher loan-loss coverage burden

The Reserve Bank of India (RBI) and the finance ministry have not resolved the issue of the status of the seven private sector banks categorized as foreign-owned under the new Foreign Direct Investment (FDI) norms, said Reserve Bank of India (RBI) Governor D Subbarao.

Ownership issue still not resolved, says Subbarao

The new Foreign Direct Investment (FDI) norms, which stipulate changes in the way foreign investment in a domestic company is calculated, have put a roadblock in the path of credit information bureaus, which are eager to rope in private sector banks as investors.

Credit information bureaus trip on new FDI norms

Extending its losses for the fourth day, the Indian rupee today depreciated by 25 paise in early trade to 47.59 against the US currency, largely on the back of dollar's gains against other major units and on heavy month-end demand from oil companies.

Rupee down 25 paise at 47.59/$ in early trade

The country's second-largest public sector lender, Punjab National Bank (PNB), today said it plans to buy a majority stake in a bank in Kazakhstan, for an estimated $24 million, which would be its&nbsp; first overseas acquisition.

PNB to acquire 63% stake in Dana Bank of Kazakhstan

The Bill conflicts with the Banking Regulation Act.

RBI wants exemption from Company Bill provisions

Shriram Life Insurance, a joint venture between the Shriram group and South Africa-based Sanlam Life Insurance, is likely to invest Rs 40 crore in expansion.

Shriram Life to infuse Rs 40 cr in insurance biz

PNB, Corp Bank and Vijaya Bank&rsquo;s profits rise.

Higher provisioning drags BOI, IOB net down

Mutual funds run by companies including BlackRock Inc. and T. Rowe Price Group Inc. have begun buying bonds through a $1 trillion government lending programme after a June regulatory ruling cleared the way.

BlackRock, T Rowe Price seek Fed loans to buy bonds

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

Page 2803 - Finance News