The Reserve Bank of India (RBI) today asked banks to provide additional information to customers on the usage of cards from August 1st this year, in order to enhance security in online credit and debit card transactions.

RBI asks banks to provide more info to card customers

Press Trust of India

State Bank of India (SBI), India&rsquo;s largest public sector bank, would set up about 100 new branches in Orissa to take its branch network in the state to around 650 by the end of June this year.

SBI to set up 100 new branches in Orissa by June

Business Standard

The attainment of 100 percent financial inclusion of 14 identified districts in the state has missed the dateline. The target to complete the process was October this year.

Financial inclusion of 14 Orissa districts misses dateline

The zero coupon bond or Bhavishya Nirman bond of National Bank for Agriculture and Rural Development (Nabard) has mobilised Rs 3,000 crore in April-January against the targeted Rs 2,600 crore.

Nabard zero coupon bond collects Rs 3,000 cr

A Srei Infrastructure Finance-led consortium has bagged the Rs 6,000 crore Light Rail Transit System (LRT), an air-conditioned elevated mass trasport, connecting Kolkata's southern suburbs with the northern fringes via the central business district.

Srei Infra-led consortium bags Rs 6,000cr Bengal LRT project

State-owned India Infrastructure Finance Company (IIFCL) has registered a 350 per cent rise in net profit for the nine-month period ended December 2008 at Rs 51.25 crore from Rs 11.38 crore last year. During the period, operating profit touched Rs 123.17 crore as against Rs 23.24 crore in the same period last year.

IIFCL&#39;s net profit soars 350% to Rs 51 crore

With the Catholic Syrian Bank (CSB) board scheduled to meet on Friday to discuss the proposal of the merger with Federal Bank, the Catholic Church is also gearing up to agitate against the move.

Church plans to protest Federal Bank-CSB merger

Banks may have to shell out service tax on what they pay an RBI subsidiary, to keep part of their deposits insured.

Banks may have to pay tax on premium to insure deposits

Geojit Financial Services on Wednesday launched its property services division. The division would offer investors and builders a platform to buy/sell residential apartments, office and commercial space in various cities of the country. Based in Kochi, the new division will operate in Kerala in the first phase, said CJ George, managing director of the company.

Geojit launches property services division

The National Bank for Agriculture and Rural Development (Nabard) has projected a credit potential of Rs 49,960 crore for farm and non-farm sectors in Andhra Pradesh for the ensuing financial year 2009-10. This is a growth of 17.7 per cent over the current year, said Nabard chairman Umesh Chandra Sarangi.

Nabard projects Rs 49,960 cr credit potential for Andhra

India Inc preferred the debt route in the first three quarters of the financial year 2008-09. According to figures from Prime Database, debt private placements rose 46 per cent, as compared with the corresponding period in FY08. A total of 126 companies raised funds via this route.

Debt private placement rises 46% in first three quarters

Reserve Bank of India Governor D Subbarao today said that there is room to cut interest rates further.

Room for more rate cut: RBI

The one-day strike called by officers and other employees of Reserve Bank of India on Friday may disrupt normal functioning, including its payment and settlement system, the central bank said on Wednesday.

Complete transactions before strike

Lack of easy financing options for rural people in central Uttar Pradesh has affected the growth plans of various auto components and vehicle manufacturers in and around Kanpur. More than 50 small- and medium-scale automotive parts manufacturers in the city have been facing troubles in finding buyers for their products, as the export market has already dried up due to the global economic downturn.

Finance woes stifle rural auto sales

After remaining weak for three straight days, the Indian rupee appreciated marginally against the US currency in early trade today as banks and exporters sold dollars at higher levels.

Re marginally up against $

Government today said that ever since it launched the agriculture loan waiver scheme, bank advances have gone up while net non-performing assets (NPAs) of banks have come down to one per cent.

Bank advances up after farm loan waiver: govt

Moody&rsquo;s Economy.com today said the Reserve Bank of India (RBI) could cut interest rates next week as high fiscal deficit was limiting the Centre&rsquo;s ability to step up spending and boost economic activity.

RBI may cut rates next week: Moody's arm

The country's largest private sector lender, ICICI Bank, sees further softening of interest rates with inflation sliding to a 14-month low of 3.92 per cent.

ICICI sees further cut in interest rates as inflation slides

Normal operations, including payment and settlement activities in the Reserve Bank of India (RBI), are likely to be affected tomorrow with its employee unions going on one-day strike to press their demands on pension.

RBI employees on strike tomorrow

The Insurance Regulatory and Development Authority (IRDA) is all set to come out with merger and acquisition (M&amp;A) norms by the end of next month that would facilitate consolidations in the sector.

M&A guidelines for insurance sector by March end

Admitting to helping Americans taxpayers to hide accounts, the Swiss banking major UBS has agreed to pay $780 million in fines and penalties to the US government.

UBS to pay $780 mn fine to US govt in tax case

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