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

Business Standard

State bank of India (SBI) has posted 26.1 per cent rise in net profit at Rs 1,883.2 crore for the fourth quarter ended March 2008 as against Rs 1,493.19 crore a year ago.

SBI Q4 net up 26.1% at Rs 1,883.2cr

The support of National Bank for Agricultural and Rural Development (Nabard) to agriculture and rural development of Punjab and Haryana and Chandigarh has touched a record figure of Rs.

Nabard's increased help to Punjab, Haryana

Press Trust of India

State Bank of India, the country's largest public sector bank, today ruled out the possibility of increasing the prime lending rate (PLR) in the short term.

Prime lending rate to stay flat: SBI

Beating analyst estimates, State Bank of India (SBI) today reported a 26.12 per cent increase in fourth quarter profits to Rs 1,883.23 crore, compared to Rs 1,493.19 crore during January-March 2006-07.

SBI Q4 net rises 26.12%

Cauvery Kalpatharu Grameen Bank, the State Bank of Mysore-sponsored regional rural bank has reported a net profit of Rs 25.61 crore on a turnover of Rs 2,250 crore for the year-ended March 31, a growth of 21.51 per cent compared to the previous financial year.

Grameen bank net up 25%

In a bid to revamp the ailing credit card business SBI is planning to restructure the business from top to bottom, be it managerial, technological or business strategy.

SBI to revamp credit card business

The Reserve Bank of India is set to launch retail payment service of Indo- Nepal remittances through National EFT facility from May 15 and subsequently the service would be extended to all other SAARC countries.

RBI to launch retail payment services

&nbsp;The PSU's first premium income rose only 6 per cent during 2007-08.
&nbsp;A poor show by the Life Insurance Corporation of India (LIC)  in fact, the worst in nearly a decade  slowed down sales for the life insurance industry.

LIC`s poor show drags industry growth

Lenders are likely to waive off about Rs 2,000 crore payable by farmers on account of penal interest, legal and inspection charges following the government's move to write off overdue farm loans of over Rs 60,000 crore.

Loan waiver may cost banks Rs 2,000 cr

Credit Suisse, the Swiss financial group, is stepping up its presence in India to tap growing business opportunities.

Credit Suisse seeks bank licence

The Reserve Bank of India (RBI) is set to launch retail payment service of Indo- Nepal remittances through National EFT facility from May 15.

Reserve Bank to ease Nepal payment norms

Birla Sun Life Insurance captured a market share of 6.6 per cent among private life insurance players in the country as on March 2008.

Birla Sun Life has 6.6% of pvt life ins mkt

&nbsp;BIS data show nation borrowed $28 bn in fourth quarter of '07 .
&nbsp;Foreign banks have sharply increased their exposure to banks and financial companies in India by providing loans to the tune of $28 billion during the last quarter of 2007, according to the latest banking statistics of the Bank for International Settlements (BIS) last week.

India tops foreign bank borrowings in Asia

The Insurance Regulatory and Development Authority (Irda) has decided to tighten the exposure norms for unit-linked insurance plans (Ulips) by imposing an investment ceiling of 25 per cent on group companies.

Ulip investment in group firms capped at 25%

Rising interest costs and galloping input prices, especially of commodities, will dent the profitability of corporate India and make credit quality weaker, increasing the prospect of rating downgrades, rating agency Crisil said today.

Crisil cautions on corporate credit

Birla Sun corners 6.6% share in private life insurance market

UBS AG may cut as many as 8,000 jobs as it grapples with the biggest credit writedowns of any European bank and a 12 billion-franc ($11.4 billion) first-quarter loss.

UBS may cut 8,000 jobs after $11.4 billion loss

HealthCare Global (HCG), an oncology care hospital chain, has received $20 million funding from PremjiInvest, a private equity fund sponsored by Azim Premji, who owns Wipro Limited.

Cancer hospital chain gets $20 mn funding

It's been two-and-half months since Romesh Sobti took over as the managing director and chief executive officer at IndusInd Bank.

`Need to relook strategy if you don`t grow 35-40%`

UCO Bank today reported a net profit of Rs 86 crore for the fourth quarter ended 31 March, 2008, up 177.4 per cent compared to Rs 31 crore in the corresponding quarter last year.

UCO Bank Q4 net jumps 177%

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