RBI has hiked the repo rate by 50 basis points to 8.50 per cent with immediate effect.

RBI hikes repo rate by 50 bps

Business Standard

&nbsp;Vijaya Bank awaits RBI move before effecting a hike. 
&nbsp;Even as public sector banks are holding on to their prime lending rates (PLR), another private player, IndusInd Bank, announced a 50 basis-point increase in PLR.

IndusInd, Central Bank increase lending rates

Banks look set to increase lending rates with the Reserve Bank of India today unveiling a two-pronged &#34painful&#34 correction process to tame inflation.

RBI`s double whammy makes India Inc see red

The long-running rumour about HSBC mulling a takeover of UBS resurfaced today, pushing the Swiss banking major&#39;s share price higher by over four per cent, even as that of the UK banking giant fell into the red.

UBS shares up on HSBC`s $80-billion takeover buzz

Press Trust of India

Global rating agency Standard &amp; Poors today said that the sharply rising subsidy bills for oil, fertilisers and food, along with deteriorating balance of payments (BoP) performance, could pressure India&#39;s credit standing.

Subsidies, BoP may hit credit standing

Religare Finvest Limited (RFL), a wholly owned subsidiary of integrated finance services provider Religare Enterprises, has issued Compulsorily Convertible Debentures for Rs 100 crore to Standard Chartered Bank, Mauritius.

Religare arm gets Rs 100-cr funding from StanChart

Life Insurance Corporation (LIC), country's largest insurer, launched Market Plus-1, a unit linked endowment plan, as a follow up of their previous Market Plus policy.

LIC MP-I takes off

Country's largest private sector lender ICICI Bank today said it would not take steps on revising interest rates in panic even though there is upward pressure on them following RBI's move to further tighten money supply.

No decision on interest rates in panic: ICICI

Yash Birla Group company, Birla Cotsyn, which is engaged in textile manufacturing, will raise Rs 144.18 crore through an initial public offer, which will hit the market on June 30.

Birla Cotsyn fixes IPO price band

Bank of America today said its post-tax profits from Indian operations rose 56 per cent to Rs 305.2 crore during the year-ended March 2008, compared to Rs 195.5 crore in 2006-07, but it expects moderation in growth during the current financial year.

Bank of America PAT up 56%  to Rs 305 cr

Standard Chartered Bank (India) has posted a 25 per cent increase in net profit at Rs 1,706 crore for the financial year ended March 31, 2008.

StanChart net profit up 25% in FY08

Bank of America's post-tax profits from the Indian operations rose 56 per cent to Rs 305.2 crore during the year-ended March 31, 2008 (FY08) as compared with Rs 195.5 crore in 2006-07, the bank said in a conference today.

Bank of America FY08 net up 56%

Lenders are finally ready to notify the list of small and marginal farmers whose overdue loans are being waived off along with other farmers eligible for a one-time settlement.

Loan waiver: Banks ready with eligible farmers` list

The total amount of outstanding loan to be waived under the debt waiver scheme, which was announced in the Budget, will be reduced significantly for regional rural banks (RRB) and cooperative banks under the new cutoff date.

Cutoff date to ease RRBs` burden

State Bank of India (SBI) today hiked its benchmark prime lending rate by 50 basis points to 12.75 per cent, reflecting rising cost of funds.

SBI hikes PLR by 0.5% to 12.75%

United Bank of India (UBI) has entered into an agreement with Myanmar Foreign Trade Bank, Myanmar Investment &amp; Commercial Bank and Myanmar Economic Bank for routing border trade transactions.

UBI signs MoU with three Myanmar banks

In an effort to tighten its focus on curbing money laundering activities, the Reserve Bank of India has now asked cooperative as well as regional rural banks to tweak their reporting mechanism to help agencies track all suspicious financial transactions.

Help track dubious deals: RBI to banks

Global rating agency Standard and Poor's on Thursday said high interest rates, along with a slowing global economy, will trim India's economic growth to 7.8 per cent in 2008-09.

High rates to hit GDP growth: S&P

A host of family run companies are diversifying into third party administration (TPA) business despite a presence in insurance broking.

Companies diversify into TPA, insurance broking

The much awaited implementation of the over Rs 71,000 crore farm debt waiver and relief scheme got underway on Thursday with public sector banks, regional rural banks and cooperatives displaying names of the beneficiaries at branches.

Banks put out debt waiver list

While the financial media were apparently surprised by RBI's "one-two" punch on Tuesday, the markets had certainly already factored in some strong regulatory action.

Have bond yields peaked?

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