Wipro sees a silver lining in Q1; others say recovery by 2009-end.

Top 4 IT firms continue to face the slowdown heat

Business Standard

Indian companies with outstanding foreign currency convertible bonds (FCCBs) are likely to see a decline of 17 per cent in their net worth and 11 per cent in profitability as credit crunch and following down turn in the stock markets have pushed their stock price about 50 per cent below the price for conversion in to equity.

FCCB redemptions may erode 17% of net worth

Denying any political pressure on the RBI to project 6 per cent growth for this fiscal, Governor D Subbarao on Wednesday said it is only a remote possibility that India would record less than that.

Growth below 6% in 2009-10 a remote possibility: RBI

Press Trust of India

For FY09, the aggregate deposits rose by 20.9 per cent to Rs 32,388 crore and advances went up by 21.4 per cent to Rs 25,880 crore.

SBM targets 31% growth in advances for FY 10

Can Fin Homes Ltd, a Canara Bank sponsored housing loan firm, has recorded 4.5 per cent drop in its net profit at Rs 9.4 crore for the fourth quarter ended March 2009 compared to the corresponding quarter last year. The total income for the quarter also slipped by 5 per cent to Rs 54.25 crore.

Can Fin Homes net down 4.5%

Infrastructure Development Finance Company (IDFC), a non-banking finance company (NBFC), has revived its plan to enter the banking space.

IDFC revives plan to enter banking via acquisition

Shikha Sharma, who is likely to join Axis Bank in August, will have to start the search for at least two top-level executives soon after she takes over as the managing director and chief executive officer.

Axis Bank to start search for two senior executives

Yes Bank Q4 net profit rises 24%

Treasury Secretary Timothy Geithner indicated that stress tests will show most of the 19 biggest US banks have enough capital and said those needing more may convert government preference shares into common stock as well as seek investments from private sources.

Banks may convert shares, seek private investment, says Geithner

The Indian rupee today depreciated by nine paise to 50.43 against the US currency in early trade on account of heavy capital outflows by funds and increased month-end $ demand from importers and refiners.

Rupee down 9 paise against $ in early trade

Future Generali India Life Corporation, the joint venture between Future Group and Generali&nbsp;Group, has launched an insurance policy for child education.

Future Generali launches child benefit plan

The slowdown in the economy and aging of loans will deteriorate banks' asset in the next two years, a report from Crisil Rating agency said. This will be driven by delinquency in the corporate loans.

Banks' non-performing assets to triple: Crisil

The sharp economic downturn and liquidity crunch, especially since October 2008, put enormous strain on the financial health of Indian companies.

More companies take recourse to corporate debt restructuring

Buoyed by a rise in fee-based income, the country&rsquo;s second-largest lender HDFC Bank today reported a 33.91 rise in net profit to Rs 630.88 crore for the quarter-ended March 2009, despite a rise in bad debts.

HDFC Bank Q4 net up 34% on high fee-based income

LIC Housing Finance (LICHF), the country&rsquo;s second-largest housing finance company, has reported a 33.14 per cent increase in its fourth quarter net profit at Rs 157.55 crore as against Rs 118.09 crore reported in the year-ago quarter.

LICHF posts 33% rise in net profit to Rs 158 crore

State Bank of Bikaner &amp; Jaipur today said its net profit for the year ended March 31, has increased by 28.07 per cent to Rs 403.45 crore compared with Rs 315 crore in the year-ago period.

SBBJ FY09 bottom line rises 28% to Rs 403 cr

State Bank of Travancore, an associate of India's largest public sector lender State Bank of India, today reported a net profit of Rs 192.03 crore for the fourth quarter ended March, up 28.71 per cent over the corresponding period a year ago.

State Bank of Travancore Q4 net up 28.7 pc

Standard Chartered Bank has started the process to raise around Rs 5,000 crore through an Indian Depository Receipts (IDR) issue in the local markets.

StanChart may raise Rs 5,000 cr from IDR

Executives from credit-card issuers, including Bank of America and American Express, are set to meet with President Barack Obama today in their fight against new limits on fees and interest rates.

Obama seeks end to 'deceptive' policies by credit card firms

But, banks well-positioned to absorb shock, says Crisil.

Bad debt may grow three-fold to Rs 190k crore by Mar 2011

Citigroup&rsquo;s India-born chief Vikram Pandit has found a place among the 20 worst-ever CEOs in American history, but the top honours have gone to bankrupt Lehman Brothers&rsquo; Dick Fuld.

Citi&#8217s Pandit among 20 worst CEOs; Ford is best-ever: Survey

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