If the new government at the Centre is unable to draw fiscal policies and push ahead with reforms, it will exert pressure on the country&rsquo;s foreign currency credit rating, Moody&rsquo;s Investors Service has said in a report on India.

Fiscal reforms key to India ratings: Moody&#39;s

Business Standard

'Gross non-performing assets to touch 4.3 per cent by March 11'.

CARE pegs credit growth below 19%

As part of its initiative to make banking services available to the poor, the Orissa government has decided to launch an information, communication and technology (ICT) pilot project.

Orissa starts project to take banking to rural households

The number of debit card transactions increased by 48 per cent in financial year 2009, compared to an increase of 12.7 per cent for credit cards in the year. Similarly, debit card volumes grew by 44.6 per cent, whereas credit cards saw a volume growth of 13.7 per cent for the same period, says the Reserve Bank of India&rsquo;s data.

Consumers prefer debit cards in slowdown

India raised Rs 15,000 crore ($3.14 billion) by selling four bonds maturing between 2016 and 2035 at an auction, the central bank said.

Govt sells Rs 15,000 cr of bonds, as planned: RBI

Small Industries Development Bank of India (Sidbi) and private infrastructure development firm, IL&amp;FS, have jointly taken the initiative to impart training to financial accountants engaged in the local leather industry.

Sidbi to train accountants for leather industry

The Indian rupee today appreciated by nine paise against the $ in early trade, on the back of losses in the US unit against major currencies and hopes of an increased capital inflow by foreign funds as market may open higher.

Re up 9 paise against $ in early trade

Press Trust of India

Remittance service provider TimesofMoney plans to launch DirecPay &mdash; a product that enables merchants to facilitate online shopping across a spectrum of banks and credit cards.

TimesofMoney to launch DirecPay soon

Small and medium borrowers taking term-loans from the Delhi Financial Corporation(DFC) will now be eligible for working capital loans from Punjab National Bank(PNB).

PNB, DFC join hands to provide working capital to SMEs

The country's largest lender, State Bank of India, today said it will consider a cut in interest rates after the bankers' meeting with Finance Minister Pranab Mukherjee scheduled for early next month.

Rate cut after bankers meet with FM, says SBI

State Bank of India today launched a special product called Defence Salary Package (DSP) for Army personnel and aims to open about 12 lakh accounts under the scheme.

SBI launches Defence Salary Package for Army

The global rating agency Moody's may downgrade ratings of 13 Indian banks, including bigwigs such as SBI and ICICI Bank, as the agency would now assess the government's ability to support the banking sector on the basis of the impact of the economic and financial crisis.

Moody's may downgrade ratings of 13 banks

State Bank of India on Friday said there was a softening bias in interest rates in the light of inflation staying below 1 per cent for a certain length of time. &ldquo;There is definitely a softening bias (in interest rates). It is not going to increase,&rdquo; said SBI Chairman OP Bhatt.

Softening bias in interest rates: SBI

Barely two weeks after the country&rsquo;s largest banker, State Bank of India, issued a guarantee for a Rs 4,200-crore debenture issue of Tata Motors, the central bank has come down hard on such guarantees.

Stop guarantees for corporate debt issues: RBI to banks

Comfortable liquidity may prompt RBI to defer gilts buyback.

Govt set to fast-track borrowing to avoid interest rate pressure

Rating agency Moody&rsquo;s has placed 13 Indian banks, including State Bank of India, ICICI Bank and Punjab National Bank, on watch for possible downgrade under a global review of systemic support available for the banking sector.

Moody's puts 13 Indian banks on watch

The yield on the 6.05 per cent note due February 2019 climbed 21 basis points this week to 6.70 per cent at the close, according to the central bank&rsquo;s trading system.

Bond yields climb for a fifth week

Finance Minister Pranab Mukherjee will meet heads of public sector banks on June 10 to impress upon them the need to further cut interest rates and increase availability of credit to industry.

FM to meet bankers on rate cut

Allahabad Bank has revised the interest rates on foreign currency non-resident (FCNR) deposits with effect from 1st&nbsp; June, 2009.
For deposits in US dollar, the revised rates are, 2.60 per cent (earlier 2.89 per cent) for one year to less than two years, 2.38&nbsp; per cent (earlier 2.49 per cent) for two years to less than three years,&nbsp; 2.99 per cent (earlier 2.89 per cent) for three years to less than four years), 3.52 per cent (earlier 3.23 per cent) for four years to less than

Allahabad Bank revises FCNR deposits rate

Star Union Dai-ichi Life Insurance Company (SUDLIC), which launched its business operations in February this year, has put an insurance target of Rs 600 crore for the current fiscal.

SUDLIC sets target of Rs 600 cr in 2009-10

To get more deposits with a low rate of interest, State Bank of India (SBI) is planning to tap the rural market and aims to nearly double the number of such accounts to nine crore in two years.

SBI to add 4 cr rural accounts by 2010-11

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Fiscal reforms key to India ratings: Moody's