As a part of its Rs 5,000-crore incremental borrowing plan for the next financial year, Hyderabad-based SKS Microfinance is planning to raise Rs 500 crore through rated bonds. It has also firmed up plans to raise Rs 25 crore through issuance of commercial papers (CPs) this year.

SKS looking to raise Rs 500 cr via rated bonds

Business Standard

Monetisation of sovereign debt, which is just like printing money to fill the gap in government finances, is being proposed as a way to bring down the yield on government securities (g-secs), experts say.

Link between interest rates and yield has broken down, say experts

The government has issued oil bonds worth Rs 10,000 crore to the three oil marketing companies (OMCs) to compensate for their under-recoveries on the sale of petroleum products during the current financial year.

Govt issues oil bonds worth Rs 10,000 crore

Kolkata-based Srei Infrastructure Finance is planning to raise $100 million through the secured external commercial borrowing (ECB) route from FMO, a private sector bilateral financial institution based in the Netherlands.

Srei Infra eyes $100 mn from Dutch entity

The Reserve Bank of India (RBI) has said that it will ensure that the government&rsquo;s market borrowings would be conducted in a non-disruptive manner.

RBI to ensure smooth govt borrowings

The Reserve Bank of India&rsquo;s (RBI) special and open market operations (OMO) have resulted in around Rs 1,60,000 crore flowing into the system.

RBI  injects Rs 160k cr via mkt operations

The Indian rupee rose by 23 paise to 50.22 against the US currency in early trade today on hopes that foreign funds will pump money into the domestic markets, as they may follow the surge on the Asian bourses.

Rupee appreciates by 23 paise at 50.22/$

Press Trust of India

China's central bank said it wants to replace the US dollar as the international reserve currency with a new system run by the International Monetary Fund (IMF).

China proposes replacing dollar as reserve currency

Housing Development Finance Corporation (HDFC), the country&rsquo;s largest mortgage player, today announced a 50 basis point reduction in its retail prime lending rate (PLR) to 14 per cent, which would benefit its existing customers.

HDFC cuts lending rate by 50 bps for small customers

State Bank of India (SBI) would be charging around 11.75-12 per cent for financing the world&rsquo;s cheapest car, the Tata Nano. The loans would be available for a maximum period of seven years.

SBI gears up for Nano bookings

Private sector lender HDFC Bank today toppled ICICI Bank as the country's most valued private sector bank, after its shares surged over six per cent on the Bombay Stock Exchange.

HDFC Bank replaces ICICI as most valued pvt sector bank

ICICI Bank, the country's second largest lender, today said it plans to raise Rs 1,200 crore through the issue of upper tier-II bonds.

ICICI Bank to raise Rs 1,200 cr through bond issue

Besides, special clearing (with return clearing on the same day) shall be conducted in the evening/night of March 30 and 31, with the approval of the president of local clearing houses run by RBI/agency bank.

Extended banking hours on March 30, 31

The government has summoned nine public sector bank chiefs to discuss the liquidity and interest rate scenario and credit flow to seven sectors and for export refinance.

Govt to meet 9 bank chiefs next week

The Union Bank of India has said that its net profit for the fourth quarter will not be as buoyant as the previous three quarters of the current financial year ending March 2009. Its Chairman and Managing Director M V Nair, after launching an advanced call centre today, said that the bank had made 45 per cent net profit for the first three quarters .

Profit growth to fall in Q4: Union Bank

Non-banking finance companies (NBFCs) that do not accept deposits could get some more time to meet higher capital adequacy ratio requirements with the Reserve Bank of India (RBI) considering a proposal to relax the provisions.

NBFCs may get breather on capital adequacy

Certificates of deposit rates rose by 20 basis points today because of continuous supply from banks to meet their deposit targets, dealers said.

CD issuance by banks pushes rates up by 20bps

Expansion of derivative products outside the equity segment is being put on hold for the time being.

Expansion in derivatives products put on hold

HDFC, the country&rsquo;s largest mortgage player, today announced a 50 basis point reduction in its retail prime lending rate to 14 per cent for current and new customers.

HDFC cuts PLR 50 basis points

The Indian rupee depreciated by another 28 paise to 50.98 against the US currency in opening trade today on fears of weak opening on the domestic bourses in line with weak trends on other Asian equity markets amid increased demand for the greenback from importers.

Rupee depreciates further; approaches 51 against $

Global banking major HSBC is planning to trim its headcount by about 1,200 people in the UK, says a media report.

HSBC to slash 1,200 UK jobs: report

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