Tractor sales may slow down after State Bank of India (SBI), the country's largest bank, decided to halt loans for purchasing tractors and farm equipment.

SBI equipment loan ban to affect tractor sales

Business Standard

United Bank of India (UBI) has increased the interest rates on advances below the prime lending rates (PLR).

UBI ups sub-PLR loan rates

Kishore Biyani-promoted insurance companies, Future Generali India Life Insurance and Future Generali India Insurance (non-life venture), are targeting 30 per cent of their business to come from malls.

Future eyes `mallassurance`

&nbsp;UK-based wealth management firm Barclays Wealth today announced the appointment of Deepak Rattan as its Director (Private Clients), India.

Deepak Rattan new director of Barclays Wealth

Press Trust of India

Punjab State Co-operative Bank (PSCB) and 19 District central co-operative banks have selected Oracle and Flexcel International as their IT partners to deploy FLEXCUBE, which is powered by Oracle Database and Oracle Real Application Clusters.

Oracle and Flexcel as IT partners for PSCB

After remaining firm on its decision to temporarily halt tractor loans, State Bank of India (SBI) today did a volteface and decided to resume tractors and farm machinery.

SBI does flipflop, to resume tractor funding

&nbsp;RBI wants lenders to spell out nature of money parked in arms.
&nbsp;In a move to encourage banks to follow accounting standards instead of expecting guidelines from the regulator, the Reserve Bank of India (RBI) has asked bank boards to clearly spell out if an investment in a subsidiary, associate company or joint venture is temporary in nature or otherwise.

Banks told to clarify about investments in subsidiaries

The Delhi Stock Exchange (DSE), which is in the process of operationalising its trading platform, is expected to get an investment from the Germany's largest lender, Deutsche Bank.

Deutsche Bank to pick up 5% in DSE

IFCI Ltd has acquired an additional 46.65 per cent stake in Foremost Factors Ltd (FFL), increasing its holding in the company to 96.49 per cent.

IFCI forays into factoring business

Debt funds outperformed equity schemes in the first three months of the year as global factors and domestic inflationary concerns impacted the sentiments in the stock market, a Crisil report said.

Debt funds outshine equities in Jan-March period: Crisil

The Credit Information Bureau of India (Cibil) and 10 large commercial banks will start a pilot project in June for collecting information on frauds, building ground to create a database from 2009-10.

Cibil, ten banks tie up to fight frauds

The rupee fell to the lowest level in more than 13 months as crude oil rose to a record high, increasing the demand for dollars needed to buy the commodity.

Re falls further as oil spurs dollar demand

Having created a furore over its decision to freeze lending for farm equipment, the State Bank of India, India's largest lender, today said it was lifting the ban two days after its decision became public.

SBI does a U-turn on farm equipment loans

Khaleeji Commercial Bank, one of the leading banks in Gulf, has raised $163.5 million of equity from investors across Gulf Cooperation Council (GCC) countries for a venture with Danat India Investment Company, bank officials said.

Gulf bank raises $164 mn for India venture

SIDBI Venture Capital (SVCL) today said it has invested Rs 30 crore in Centaur Group, which would enable the Mumbai-based pharma firm to partly finance its expansion plans both in domestic and overseas markets.

SVCL invests Rs 30 crore in Centaur Group

Finance Minister P Chidambaram, who personally intervened to force the State Bank of India to withdraw the controversial circular freezing farm equipment financing, said the instructions were unjustified and poorly worded.

SBI`s U-turn on farm loan freeze at FM`s behest

&nbsp;Recovers to end at 42.97 to a dollar on RBI intervention.
&nbsp;The spot rupee today reached a fresh 13-month, intra-day low of 43.20 against the dollar following heavy buying of the US currency by oil companies and by banks for non-deliverable forward (NDF) market arbitrage.

Rupee breaches 43 mark

Sidbi Venture Capital (VC) is planning to launch a new fund targeted at the small and medium enterprises (SME) segment early next year.

Sidbi Venture Capital lines up new fund

The Reserve Bank of India (RBI) has asked scheduled banks to periodically review the risk categorisation done when preparing profile of each customer.

Banks told to gear up against frauds

Federal bank's net profit surged 3.63 per cent to Rs 102.86 crore in the fourth quarter as compared to Rs 99.25 crore in the previous quarter.

Federal bank's net profit up by 3.63% in Q4

City Union Bank today said that it has proposed a joint venture (JV) with Sri Lanka-based Hatton National Bank targeting entrepreneurs and Small and Medium Enterprises in the country.

City Union Bank plans JV with Lankan Bank

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