This reduced its relative contribution to the real GDP growth, the Reserve Bank of India said today.

Services sector growth in single-digit after 14 quarters

Press Trust of India

Kharif foodgrains production at 115.3 million tonnes, as per the first advance estimates, is likely to be lower by around five per cent as compared to the previous year, the Reserve Bank of India (RBI) said.

Kharif production likely to be 5% lower: RBI

Financial services major Barclays today said it will write down 8 billion pound relating to credit market exposures in Barclays Capital.

Barclays to write down 8 billion pound

Barclays Plc jumped the most in at least two decades of London trading after saying it won&rsquo;t need funding from the government because revenue increased last year.

Barclays soars after saying it won&#39;t need capital from UK

Business Standard

Andhra Bank expects an overall business growth of 23 per cent in the eastern region by the end of this fiscal.

Andhra Bank eyes 23% growth in East

Forecasters&rsquo; survey puts GDP growth at 6.8% in the current financial year, 6.3% next year.

Slowdown ahead, signals RBI

Recent Cenvat rate cut will lead to a general reduction in price levels.

Easing international prices may drive  inflation down: RBI

Small-scale industries and non-banking finance companies have seen a sharp drop in fresh bank loans as lenders are wary of sanctioning loans, fearing defaults. But the liquidity crunch for oil and fertiliser companies, due to their inability to sell products at market rates, saw credit flow to the segments more than double during the year up to mid-December 2008, latest data released by the Reserve Bank of India today revealed.

Oil, fertiliser cos witness more credit flow

The Reserve Bank India today said the financial condition of the states and the Centre may fail to show improvement in 2008-09 as the government is forced to spend more to avert an economic slowdown and revenue growth remains lower than expected.

Fiscal condition may deteriorate in 2008-09

The global financial meltdown is significantly changing the growth dynamics of the Indian banking sector.

Pvt, foreign banks see growth moderation

The Reserve Bank of India (RBI) in its third quarter review of the Monetary Policy 2008-09, kept the key interest rates unchanged. The central bank also scaled down the GDP growth target to 7% with a downward bias from the earlier 7.5%-8%.

Key rates unchanged; GDP forecast cut to 7%

India Inc has expressed disappointment over Reserve Bank of India&rsquo;s (RBI) decision to not change repo and reverse repo rate in its review of credit policy.

India Inc dissapointed over RBI's policy review

Japanese financial services major Nomura today reported a net loss of 342.9 billion yen ($3.8 billion) in the third quarter, bearing the impact of its purchase of Lehman Brothers' Asia operations and huge trading losses amid the financial crisis.

Nomura Q3 loss at $3.8 bn; takes hit from Lehman buy

Mangalore-headquartered public sector lender, Corporation Bank, today reported 34.3 per cent jump in its net profit at Rs 256.4 crore for the third quarter ended December 31, 2008 compared to the corresponding quarter last year.

Corporation Bank Q3 net up 34%

Bank of India (BoI) today said it would raise about Rs 200 crore from a bond issue that will open tomorrow for private placement.

BoI to raise Rs 200 cr via bonds

Kolkata-based Uco Bank has decided to slash its benchmark prime lending rate (PLR) and deposit rates by 0.5 per cent effective from February 1, a top official today said.

Uco Bank to cut PLR, deposit rates by 0.5%

Hinting at some interest rate cuts in the near future, State Bank of India (SBI) Chairman O P Bhatt today said that though several banks have slashed their rates in the recent past but these are not uniform and across the industry.

SBI's ALCO to decide on rate cuts: Bhatt

IndBank Merchant Banking Services Limited, the Chennai-based merchant banking subsidiary of Indian Bank, is planning to open 30 branches and 200 terminals over the next 15 to 24 months.

IndBank to open 30 more branches

Uco, Lakshmi Vilas agree; others say cost of deposits needs to soften further.

RBI prods banks to cut rates

State Bank of India, Visakhapatnam, is focusing on low-cost deposits during this fiscal to meet its target of collecting over Rs 1,000 crore new deposits in the region. The bank has 47 branches in Vizag.

SBI Vizag to focus on low-cost deposits

Bangalore-based private sector lender, ING Vysya Bank, has reported 21.7 per cent rise in its net profit at Rs 52.05 crore for the third quarter ended December 31, 2008 compared to the corresponding quarter last fiscal.

ING Vysya Bank Q3 net up 21.7%

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