Home loans and auto financing from public sector State Bank of India (SBI) would be dearer as the lender has decided to hike interest rates by 50 basis points on all credit linked to prime lending rates.

SBI hikes interest rates on home, car loans

Press Trust of India

Investment bank Goldman Sachs has forecast that inflation will remain in double digits till end-2008, with the Reserve Bank of India expected to increase policy rates by a further 100 basis points.

Goldman Sachs sees hike in policy rates

Business Standard

State-run Central Bank of India is exploring all options, including a follow-on public offer for raising funds, bank's Chairman and Managing Director H A Daruwala said.

Central Bank likely to go for FPO

With the government devising alternative ways to trail black money, the banking transaction tax (BTT) will be withdrawn by the end of this year, Finance Minister P Chidambaram has said.

Banking transaction tax to go: FM

Mortgage lender HDFC today reported a 39.64 per cent rise in net profit to Rs 768.12 crore in the fourth quarter of 2007-08 compared to Rs 550.05 crore during January-March 2006-07.

HDFC net rises 40 per cent in Q4

At a time when a large number of companies and banks are reporting mark-to-market (MTM) losses on derivatives, mortgage lender Housing Development Finance Corporation (HDFC) today said it has made an MTM gain of Rs 293.59 crore on its portfolio.

HDFC bucks trend, reports MTM gains

The finance ministry has asked public sector banks to disclose their exposure to forex derivatives and structured products.

Report forex exposures, govt tells PSU banks

Bankers on Wednesday asserted that interest rates were unlikely to go up in the immediate future.

Keep interest rates steady, FM may tell banks today

The Pension Fund Regulatory and Development Authority (PFRDA) has sought income tax exemption for the New Pension Scheme at par with other schemes like Public Provident Fund (PPF).

Exempt tax for all pension funds: PFRDA

Goldman Sachs, a global investment banker, today said India&#39;s growth prospects remain strong despite adverse global developments like high commodity prices that have pushed inflation to high levels.

India growth story intact: Goldman

Pune-based Bank of Maharashtra on Wednesday reported a 25 per cent dip in net profit to Rs 56 crore in the fourth quarter this year compared with Rs 75 crore in the corresponding quarter of the previous year due to provisioning for depreciation in capital market investments and implementation of new accounting standards.

BoM profit dips 25%

Dena Bank has posted a 153.40 per cent rise in net profit at Rs 110.99 crore for the fourth quarter ended March 2008 as against Rs 43.80 crore in the same period last year.

Dena Q4 net rises 153%

Country's largest public sector lender State Bank of India (SBI) today said that it does not expect the interest rates to go up in the short-term.

No hike in interest rates in near future: SBI

Finance Minister P Chidambaram today said he does not expect interest rates to go up in reasonable future following the Reserve Bank of India (RBI)'s move to hike mandatory deposits of banks by 0.25 per cent.

Interest rates unlikely to rise in future: FM

Corporation Bank plans a robust scaling-up of its branch network and expand its footprint pan-India, with a special focus on the north and west of the country, a top bank official said.

Corporation Bank mulls expansion

Tiruchy-based Grama Vidiyal Microfinance (GVM), a non-banking finance company (NBFC) which started its operations a year back plans to increase its branches from the current 100 to 225.

G V M to launch 155 branches by Dec 09

In a move that is expected to attract more non-resident deposits in the country, public sector lender Punjab National Bank (PNB) today said it has raised interest rates on non-resident deposits.

PNB revises non-resident deposits rate

&nbsp;Currency swings leave companies vulnerable. 
&nbsp;Stung by the controversies on structured forex derivatives, bankers to the foreign currency convertible bond (FCCB) issues are now asking clients to take a hedge for such foreign currency risks.

Reset strike price for FCCBs, banks tell firms

&nbsp;State-run lenders told to be cautious when selling exotic deals. 
&nbsp;Taking note of mark-to-market losses incurred by corporations in complex foreign exchange derivatives transactions, Finance Minister P Chidambaram today asked public sector banks to come clean on the issue.

FM seeks details on derivatives

All the 21 directors of the ailing Samta Sahakari Bank have been booked for defrauding the bank of over Rs 145 crore.

Samata Bank chairman, directors booked

In what may set the tone on lending rate decisions, Finance Minister P Chidambaram today said public sector banks are unlikely to hike these rates.

PSU banks won't raise rates, says Chidambaram

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