ICICI Bank expects infrastructure boom will help banks post a 25 per cent expansion in their loan books in 2008-09, higher than the 
Reserve Bank of India's projection of a 20 per cent growth.

`Infra boom to fuel loan growth`

Business Standard

The Securities and Exchange Board of India (SEBI) and the Reserve Bank of India today announced the introduction of Exchange Traded Currency Futures.

Exchange-traded currency futures set to make debut

The Reserve Bank of India (RBI) today said it supported the initiative of public sector banks to acquire assets of ailing urban cooperative banks (UCBs) as it helps to clean up and strengthen the urban banking sector.

RBI backs state-run banks to buy UCBs

The growth of general insurance business has slowed down to 12.5 per cent in 2007-08 compared to 25 per cent in the previous financial year due to the end of pricing control on regulated businesses such as fire, motor and engineering from January 2007.

General insurance premium growth dips to 12.5% on detariffing

Integrated financial services group JM Financial on Thursday posted a 39 per cent growth in the consolidated net profit at Rs 45.77 crore for the quarter ended March 2008 compared with Rs 33.03 crore in the same quarter last year.

JM Fin Q4 net up 39%

The cooperative banking sector of the region suffered a huge jolt on Wednesday as the state CID succeeded in obtaining a police custody for the founder chairmen of the beleaguered Samta Sahakari Bank and Nirmal Ujwal Urban Cooperative Society in connection with the Rs 145.6 crore scam.

Co-op bank chiefs in police custody

The State Bank of Hyderabad-sponsored Deccan Grameena Bank is targeting a business of Rs 3,200 crore even as it plans to expand its branch network during the current financial year, said bank's chairman G Subrahmanyam.

Grameen bank aims at Rs 3,200-cr business

The Department of Post (DoP), which is poised for a face lift with new schemes in its kitty today said it is in talks with Deutsche Postbank to enter into housing loan business.

Indian Post-Deutsche Postbank in talks

Press Trust of India

In a move that may take some sheen off derivative deals, the Reserve Bank of India (RBI) today proposed to increase the provisioning requirements for banks for off-balance sheet items such as forex and interest-rate derivatives and gold trading.

RBI tightens norms for derivative deals

The Reserve Bank of India's Internal Working Group has voiced its dissent against introducing administered interest rate regime for giving loans to small and micro enterprises.

RBI group against controlling rates on SME loans

An increasing number of companies are outsourcing superannuation, gratuity and leave encashment programmes of their employees to insurance companies.

Insurers rake in moolah as outsourcing rises

Making a strong case for freeing micro and small enterprises (MSEs) from the clutches of private money lenders, Finance Minister P Chidambaram on Saturday reminded the banks that they are duty-bound to lend to the sector.

Banks are duty-bound to lend to MSEs: FM

Making a strong case for freeing micro and small enterprises (MSE) from the clutches of private money lenders, Finance Minister P Chidambaram today reminded the banks that they are duty-bound to lend to the sector.

FM asks banks to free MSEs from money lenders

The entire banking sector may have to make a provision of around Rs 800-1,000 crore in their trading portfolio of government securities for the quarter ended March 31, 2008. 


Banks` provision for gilts may be Rs 1,000cr

Concerns on inflation and fading hopes of a cut in interest rates pulled down the prices of government securities across maturities by 20-30 paise on the closing day of the financial year 2007-08. 


Bonds set for biggest monthly loss since June 2006

Indian Bank has crossed Rs 1 lakh crore business as of March 31, 2008, the Chennai-based bank said in a statement today. The bank is gearing up to provide a variety of value-added services to

Indian Bank biz crosses Rs 1 trillion

AEGON Religare Life Insurance Company, a joint venture between Netherlands-based AEGON and Religare, has received the initial approval - R1 licence - from Insurance Regulatory &amp; Development

AEGON Religare Life gets initial Irda nod

Pune-based public sector bank Bank of Maharashtra (BoM) has decided to opt out of the joint venture with Shriram Financial Services and Sanlam of South Africa to provide general insurance products

BoM opts out of insurance venture

To spearhead its operations in international markets, Dewan Housing Finance Company (DHFL), the second largest housing finance company in the country, is opening its branch office in London in a

DHFL to open London office, provide loans to NRIs

The exchangeable bonds (FCEBs) proposed by the government as an additional instrument for fund-raising by companies overseas may again be put on the backburner. While the government has already issued

Now, exchangeable bonds stuck on Mint Road

ICICI Bank has bought back bonds aggregating $50 million. According to a release issued by the bank to the BSE today, the bonds have been repurchased through open market from its outstanding

ICICI Bank repurchases $50mn bonds

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