First half of the year sees sharp rise in number of defaulters.

Credit worthiness of India Inc still a concern: Crisil

Business Standard

Future Group is planning to invest Rs 100 crore in East India over the next four months, in setting up new stores and in re-doing existing stores to accommodate new formats.

Future Group to invest Rs 100cr in East

The financial meltdown that shook the world was a direct outcome of mismanagement of risk. The risk management was completely ignored by companies&rsquo; boards. Boards did not even constitute risk committees and expected &ldquo;inexperienced&rdquo; audit committees to handle risk, according to president of World Council for Corporate Governance, Madhav Mehra.

'Financial meltdown was an outcome of risk mismanagement'

China plans to tighten capital requirements for banks, threatening to curb the record lending that&rsquo;s fueled a 60 per cent rally in the nation&rsquo;s stock market, three people familiar with the matter said.

China plans rules tightening capital of banks

The yield on government securities (g-secs) shot up across tenures after the Reserve Bank of India (RBI) accepted bids for bonds at higher cut-off levels, increasing the government&rsquo;s borrowing costs.

Government bond yields rise sharply

The country&rsquo;s foreign exchange reserves decreased by $214 million for the week ended August 14, mainly due to revaluation of currencies.

Forex reserves dip $214 million

ICICI Bank on Friday said it could make initial public offerings (IPO) in four subsidiaries or sell stake in its insurance ventures after the sectoral foreign direct investment (FDI) limit was raised.

IPOs in 4 group firms possible: ICICI

Press Trust of India

South Indian Bank on Friday recorded its highest-ever net profit of Rs 194.75 crore for 2008-09, an increase of 28.44 per cent over the previous year.

South Indian Bank net up 28%

Axis Asset Management Co, backed by India&rsquo;s fourth-largest bank, aims to be one of the nation&rsquo;s top 10 money managers in the next five years, according to Chief Executive Officer Rajiv Anand.

Axis asset arm eyes place among top-10 money managers

Americans in Switzerland are rushing to disclose their holdings to US tax authorities after the Swiss government agreed to hand over details on 4,450 UBS AG accounts to the Internal Revenue Service.

UBS settlement spurs tax disclosure by Americans in Switzerland

Chhattisgarh government has approved 14 new irrigation projects in the state to be completed with an estimated cost of Rs 654 crore.

Chhattisgarh takes up 14 irrigation projects

If you have defaulted on a loan taken in your personal capacity, there is a chance that you might hear from the human resources department of the company you work for.

Banks approach firms for loan default by employees

Softer interest rates and expectation on credit buying in the busy season are likely to ensure hectic activity in the bond market in the coming week.

Banks to hit bond street for capital ahead of festive season

Having missed the bus to a planned global acquisition in 2008, ICICI Bank today said it was open for a buyout in India, as domestic takeover in the current environment made better sense than an overseas buy.

Prefer buying a domestic bank over global: ICICI

The Centre has agreed to release Rs 400 crore immediately to Orissa from the Compensatory Afforestation Management and Planning Authority (CAMPA) fund.

Centre to release Rs 400 crore CAMPA fund

The total number of Non-Banking Financial Companies (NBFCs) registered with Reserve Bank of India (RBI) declined to 12,809 in June 2008, latest figure which is available, from 12,968 a year ago. The decline was mainly due to the exit of many NBFCs from deposit-taking activity.

NBFCs fall to 12,809 as many exit deposit-taking

The yield on government securities may move up further on Monday as Reserve Bank of India (RBI) accepted bids at bond auction at higher cut-off point. Government&rsquo;s indication to stay on course with borrowing calendar may also push yields. Dealers said the yield on 10-year benchmark (6.90 per cent 2019 paper) surged after RBI set cut-off at 7.30 per cent compared with 7.25 per cent forecast by investors. This means, the government would have to pay more to investors by offering higher coupon rate.

Bond yield may harden further

&nbsp;World&rsquo;s largest accounting firm, PricewaterhouseCoopers, is being sued for billions of pounds over its role as an auditor to one of the feeder funds that channelled huge amount of money to Bernard Madoff, the man behind the largest fraud in history, media report says.

Madoff victims to sue PwC for billions of pounds

The World Bank (WB) is set to clear funding of $3.2 billion (over Rs 15,500 crore) for capital infusion into public sector banks ($2 billion or Rs 9,700 crore) and India Infrastructure Finance Company (IIFCL) next month.

$2-bn World Bank fund for public sector banks soon

The government has shortlisted four candidates for the post of National Housing Bank&rsquo;s (NHB&rsquo;s) chairman and managing director.

Four in fray for NHB top job

Anil Ambani-run Reliance Money may acquire 5 per cent more in the National Multi-Commodity Exchange of India (NMCE) to take its holding to 15 per cent in line with the new guidelines.

Reliance Money may up stake in NMCE by 5%

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