Fortnight ended July 31 witnesses Rs 29,500-crore jump.

Heavy disbursals give bank credit a big push

Business Standard

The Reserve Bank of India (RBI) has kicked off a review of the branch licensing norm, but any liberalisation is unlikely to cover foreign banks operating in the country.

Opening branches may be made easier for Indian banks

To track terror funding, the Reserve Bank of India has directed banks to submit reports on accounts relating to persons and organisations having links with Al-Qaeda terror group.

Banks to report on terror-linked a/cs

Press Trust of India

With the government allowing tax pass-through to financial intermediaries, including domestic venture capitalists (VCs), in the direct tax code unveiled on August 12, VCs are optimistic about fund raising.

New direct tax code to make fund-raising easier for VCs

Banks continued to issue certificates of deposit (CDs) ON Thursday to refinance paper maturing in August and also as the rates remained stable, dealers said.

MF restriction on big buys leads to lower CD issuances

A study by the Reserve Bank of India (RBI) has recommended that the local bodies be provided with grants of about Rs 94,000 crore so that they can take up developmental programmes.

Give Rs 94k-cr grants to local bodies: RBI

State-owned United Bank of India (UBI) is planning to set up a housing finance subsidiary, after its initial public offering (IPO) hits the market by December-end or January next year.

Post IPO, UBI to set up housing finance unit

The free run at automated teller machines might end soon, with banks petitioning the Reserve Bank of India (RBI) to put curbs on cash withdrawals at third-party ATMs.

Banks want curbs on free ATM use

The Reserve Bank of India (RBI) has set up a financial stability unit (FSU) to conduct macro-prudential surveillance of the financial system on an ongoing basis.

Central bank sets up financial stability unit

Goldman Sachs Group Inc and JPMorgan Chase &amp; Co would be barred from a planned US carbon- emissions market or face trading restrictions under proposals by Democratic senators crafting climate change legislation.

Goldman faces carbon market curbs

The robust growth of the capital goods sector in June has led the government to believe that the stage may be set for private investments to come back in a big way.

Govt sees revival of private investment in a 'major way'

It&rsquo;s amazing what a little sunshine can accomplish.

Next bubble to burst is banks' big-loan values

The State Bank of India was relegated to the second spot by providing 8.70 per cent returns to the Employees&rsquo; Provident Fund Organisation (EPFO) during the period, according to the Crisil analysis.

ICICI Pru ranked first for managing EPFO funds

Tiruchy-based Non-Banking Finance Company (NBFC) Grama Vidiyal Micro Finance Ltd (GVMFL) is planning to raise around Rs 100 crore by way of non-convertible debentures (NCD) over the next three months. The money will be utilised to support company&rsquo;s expansion plan said S Devaraj, chairman and managing director, GVMFL. Speaking to reporters in Chennai today he said that the company is planning to add 61 branches which would take up total number of branches to 215 from the current 154. Currently the 25-year old NBFC caters to four lakh people and set a target to increase it to 7.5 lakh with a total disbursement of around Rs 350 crore during the current fiscal compared to Rs 240 crore last year.

Grama Vidyal Micro Finance to rasie Rs 100 cr

RBI move will help lenders report lower bad debts, higher profits.

Banks can deduct floating provision from gross NPAs

The Libor-OIS spread narrowed to a level former Federal Reserve Chairman Alan Greenspan said he regarded as &ldquo;normal,&rdquo; adding to evidence the freeze in credit markets is thawing.

Libor-OIS spread drops to Greenspan's level

The action in the home loans market seems to be hotting up with many banks and housing finance companies moving to match the competitive schemes unveiled by the country&rsquo;s largest lender, State Bank of India.

Mortgage lenders move to match SBI rates

Its gross premium income rose marginally by 1.4 per cent to Rs 8,061.13 crore. While the company&rsquo;s non-obligatory business went up by 17 per cent, foreign business was up 40 per cent.

General Insurance Corp posts 42% rise in bottom line

The issue of capital account convertibility (CAC) had to be taken forward after taking into account the costs and benefits of such a measure, said D Subbarao, the governor of the Reserve Bank of India (RBI).

Capital a/c convertibility after weighing pros and cons: RBI

The Reserve Bank of India (RBI) on Friday said it cancelled the certificate of registration granted to three firms for carrying on the business of a non-banking financial company (NBFC). The companies are Seven Heaven Leasing and Finance, Internet Investment Company and Associated Fincap. The licences have been cancelled as these companies have opted to exit from the NBFC business, an RBI release here said.

RBI cancels registration of three NBFCs

Reserve Bank of India Governor D Subbarao has said a new facility would soon be set up in the country for producing paper for currency notes.

New currency note paper unit to be set up, says RBI

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