Public sector bank (PSB) chiefs will have a lot to discuss when they meet Finance Minister P Chidambaram on May 1 to get a broad direction from the government, the majority shareholder in 28 PSBs, for

FM, bank chiefs to discuss rates, debt waiver

Business Standard

The Reserve Bank of India has expressed its inability to accede to Mangalore-based private sector Karnataka Banks proposal to rope in International Finance Corporation (IFC) as an equity investor.

RBI declines IFC's investment in K'taka Bank

Bank has 188 transactions with an MTM loss of Rs 673 crore. 


Derivative blow: Axis makes Rs 72 cr provisions

The Reserve Bank of India (RBI) has initiated talks with accounting standards regulator Institute of Chartered Accountants of India (ICAI) to advance the mandatory implementation of accounting

Derivative accounting by 2009: RBI

A tepid response to the Employee Stock Purchase Scheme (ESPS) has forced State Bank of India (SBI) to relax the one-year lock-in period norm under the scheme. 


No lock-in for SBI staff opting for ESPS

State-run Indian Overseas Bank has decided to increase interest rates on new loans given below benchmark prime lending rate (BPLR) by at least 50 basis points, Chairman and Managing Director S A Bhat

IOB raises rates on new sub-PLR loans

Karnataka Bank will take up the matter of bringing in a fresh investor at its next board meeting scheduled for April 24. 


RBI rejects Karnataka Bank plan to rope in IFC

The Reserve Bank of India (RBI) proposes to come out with prudential norms for reverse mortgage loans to safeguard banks in a falling real estate market. The prudential norms are likely to be

RBI to issue norms for reverse mortgage

Rabobank, the Netherlands-based financial institution, is planning to set up a $100 million private equity fund in India which will focus on the agriculture value chain. 


Rabobank plans $100 mn agri-business PE fund

Foraying into the commercial banking space in Gujarat, HSBC is eyeing for a larger chunk of business from the state in the coming months. The bank admits, with presence in just two cities in the state

HSBC to foray into commercial banking in Guj

The Reserve Bank of India (RBI) is slowly phasing out deposit-taking, non-banking finance companies (D-NBFCs) garnering public deposits.

RBI moves to stop NBFCs` deposit mop-up

The Insurance Regulatory and Development Authority (Irda) should create a pool for senior citizen policies, according to general insurance companies. 


Insurers seek health pool for elderly

Corporate lending departments asked to scan borrowers' books.With little clarity on the list of companies that have mark-to-market losses on derivatives transactions, banks are now asking their corporate banking departments to scan the books of borrowers and also seek details of their foreign exchange exposure.

Banks put SMEs under lens for forex exposure

<P>Foraying into the commercial banking space in Gujarat, HSBC is eyeing a larger chunk of business from the state in the coming months.

HSBC bullish on commercial banking

State Bank of India will book Mark-to-Market (MTM) loss of $10 million for erosion in the value of overseas financial investment. This comes on the backdrop of turbulent financial markets where many

SBI to book $10 mn mark to market loss

The countrys largest lender, State Bank of India (SBI), expects a credit growth of 22 per cent this fiscal, a top bank official said.


SBI expects 22% loan growth in FY09

Press Trust of India

State-run Indian Bank today announced a standalone net profit of Rs 241.67 crore for the fourth quarter ended March 31, 2008, a 2.7 per cent growth over the corresponding period a year ago.


Indian Bank's net up 2.7% cr in Q4

India's corporate bond market remains under-developed despite strong economic growth and significant financial system reforms, the Asian Development Bank said here in a report.


Indian corporate bonds underdeveloped: ADB

Public sector lender Oriental Bank of Commerce (OBC) has posted a net loss of Rs 99.44 crore in the fourth quarter of 2007-08 due to write-off of losses related to erstwhile Global Trust Bank (GTB),

OBC Q4 net loss at Rs 99 cr

<P>In a major push towards consolidation in the banking space, the Reserve Bank of India has presented a paper to the government highlighting a proposal for merger of banks.

Now, RBI wants bank consolidation

After Axis Bank, it is now the turn of State Bank of India to disclose losses its customers could face on derivative trading. 


SBI clients may lose Rs 700 cr

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