During the quarter, total income rose 35 per cent to Rs 641.8 crore as it earned an interest of Rs 498 crore, up 19 per cent. Boosted by a healthy profit of Rs 66 crore by the sale of government securities and bonds, the bank has reported a 2.5 times growth in other income during the quarter.

Karnataka Bank Q4 net profit rises 37%

Business Standard

South Africa&rsquo;s rand snapped a five-day rally as some investors said they were concerned a proposed merger of the biggest mobile-phone operators in India and Africa may drain funds from the continent&rsquo;s largest economy.

Rand snaps five-day gain on MTN deal concern

The Indian rupee weakened 16 paise against the $ in early trade today on capital outflow by foreign funds in anticipation that the domestic markets may open down, in tandem with other Asian bourses.

Re down 16 paise against $ in early trade

Press Trust of India

The Indian rupee depreciated 24 paise to 47.52/53 a $ in the early trade today on sustained demand from importers for the American currency coupled with a strong $ in overseas markets.

Re drops 24 paise vs $ in early trade

ICICI Bank today entered into a tie up with leading mobile payment solutions provider, mChek to issue electronic cards to customers.

ICICI Bank in pact with mChek to launch electronic cards

ICICI Bank today announced an association with mChek, a leading mobile service provider, to facilitate mChek services to all ICICI debit and credit card customers.

ICICI Bank eyes to facilitate mChek services to customers

India&rsquo;s policies for the software sector and China&rsquo;s promotion of special economic zones (SEZs) for the manufacturing sector suggest that well-designed and sector-specific government policies can overcome weaknesses in investment climate and allow developing countries to compete globally in new fields, according to a study by the International Finance Corporation (IFC), the private lending arm of the World Bank.

India, China show how to compete globally: IFC

The National Bank for Agriculture and Rural Development (Nabard) has sanctioned Rs 246 crore for development projects in seven backward districts of Bundelkhand and the Purvanchal region in Uttar Pradesh. The financial aid will be utilised for irrigation and rural road projects in the current financial year.

Nabard sanctions Rs 246cr to Bundelkhand, Purvanchal

The issue price of Bhavishya Nirman bonds from the National Bank for Agriculture and Rural Development (Nabard) may rise to more than Rs 9,000 if the new Union government approves the proposal to renew the bonds for another two years.

Nabard seeks to extend Bhavishya Nirman bonds for two more years

Karnataka Bank, the Mangalore-based private sector lender, plans to seek shareholders&rsquo; nod to raise up to Rs 500 crore through a qualified institutional placement (QIP).

Karnataka Bank plans to raise up to Rs 500 cr via QIP

Public sector Bank of Baroda (BoB) on Tuesday said its consolidated net profit for the financial year ended March 31, 2009 jumped 54 per cent to Rs 2,384.08 crore. The lender had a consolidated net profit of Rs 1,548.38 crore during 2007-08, BoB said in a filing to the Bombay Stock Exchange. The consolidated total income rose to Rs 18,297.91 crore in FY09 from Rs 14,306.67 crore in FY08, it said.

Bank of Baroda FY09 net up 54% at Rs 2,384 cr

The study group constituted by the State Level Bankers&rsquo; Committee (SLBC) in Orissa has suggested development of appropriate credit products for common man to make the financial inclusion process more effective.

SLBC suggests credit  for common man

Two leading banks, State Bank of India and HDFC Bank, have sought permission from the Reserve Bank of India (RBI) to buy gold from retail investors.

SBI, HDFC seek RBI nod to buy gold from retail investors

The global financial crisis seems to have changed the way multinational companies operating in the country engage with Indian banks. Post the crisis, their involvement with large Indian public and private sector banks has grown for a range of services, such as cash management and credit, according to bankers.

Local lenders find favour with MNCs

The drop in the London interbank offered rate, the benchmark for $360 trillion of financial products, to a record low masks a growing gap between the rates that the biggest banks charge each other for credit.

Lowest Libor hides &#39;exceptionally wide&#39; bank spreads

The Indian rupee today soared by 41 paise against the dollar on anticipation of heavy foreign capital inflows as stock market may open higher in tandem with other Asian markets.

Re surges 41 paise against $ in opening trade

A high level committee of RBI has expressed dissatisfaction over the &quot;poor&quot; participation of private banks for promoting banking services and financial literacy as such activities are being undertaken largely by public sector banks.

Poor presence of private banks in LBS: RBI committee

Troubled financial services firm Citigroup, which was bailed out by the US government last year, has ruled out selling its stakes in Indian and Chinese banks, says a media report.

'Citi rules out selling stakes in Indian, Chinese banks'

Private sector Dhanalakshmi Bank today said that it has launched a special home loan product, Privilege Home Loan, targeted at select employees of top-rated corporates, PSUs, registered trusts and societies.

Dhanalakshmi Bank launches spl home loan product

Public sector Corporation Bank is aiming for a credit and deposit growth of 22-25 per cent in FY 10 and also plans to raise around Rs 1,000-crore in different tranches over this period, a senior bank official said.

Corporation Bank aims for 22-25 % credit, deposit growth

Public sector lender Dena Bank raised Rs 125 crore through Tier-I capital funds as perpetual bonds. The bank intends to use the fund to enhance long term resources to meet its future capital adequacy ratio requirements. At present, CAR of the lender is at 12.07 per cent.

Dena Bank raises Rs 125 cr via Tier-I capital

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