Bank suffers MTM losses on credit derivatives exposure; Q4 net profit rises 39 per cent.

ICICI Bank makes additional $45 mn provisioning

Business Standard

Mangalore-based public sector Corporation Bank has reported a robust 73.55 per cent rise in net profit at Rs 205.60 crore for the fourth quarter ended March 31, 2008, compared with the corresponding quarter last year.

Corporation Bank net rises 73% to Rs 205 cr

Vijaya Bank has reported a 72 per cent decrease in net profit to Rs 17.78 crore for the fourth quarter ended March 31, 2008, against Rs 63.6 crore in the yero ago period.

Vijaya Bank profit declines 72%

In order to offer a level playing field to co-operative banks, the Reserve Bank of India (RBI) may allow them to use new products for raising funds from the debt market.

More fund-raising options for co-op banks

The Reserve Bank, which is in an unenvious position due to surging inflation, is bound to be hawkish when it unveils its monetary policy on April 29, experts have said.

Economists split on  hawkish RBI policy

Press Trust of India

Indian Overseas Bank has posted a modest 5.5% increase in net profit at Rs 306 crore for the quarter ended March 31, 2008, when compared with Rs 290 crore reported in the corresponding quarter a year ago.

Indian Overseas Bank Q4 net up 5%

ICICI Bank defers IPO for I-Sec following clarification.&nbsp;In a move that could significantly ease bank investment in their non-banking activities such as insurance and financial services, the Reserve Bank of India (RBI) has exempted their joint ventures and overseas subsidiaries from an investment limit on affiliates.

RBI eases norms for bank subsidiaries

German banking biggie, Deutsche Bank plans to invest over $1 billion (Rs 4,000 crore) in Indian real estate and infrastructure sectors over three years.

Deutsche Bank plans to invest Rs 4K cr

The Reserve Bank of India (RBI) today said the steps initiated by the government in recent weeks are expected to help control inflation and inflationary expectations.

Govt, RBI steps to tame inflation

Banks are shying away from the unsecured lending market, thanks to the rising instances of defaults and recovery woes.

Bankers choose to stay away from unsecured loans

The Reserve Bank of India (RBI) today said the procedural reforms aimed at widening the tax base, improving efficiency in tax collection and providing certain concessions for investment, which have seen a steep rise in the tax mop-up, are expected to continue during the current financial year.

Tax reforms to continue

ICICI Bank chief executive officer K V Kamath today said the bank would analyse the situation coming out of the Reserve Bank of India's move to raise cash reserve ratio (CRR) by 50 basis points.

'Wait and watch' says K V Kamath on CRR hike

The Reserve Bank of India, in its annual policy statement for 2008-09, has said that it will introduce currency futures in eligible exchanges in consultation with the capital markets regulator, Securities and Exchange Board of India (Sebi).

Currency futures framework by May end: RBI

In a move to bring the special purpose vehicles (SPVs) and trusts set up by banks to carry out activities such as asset management, facilitating securitisation, and investments in other entities under supervision, the Reserve Bank of India (RBI) has proposed, today in its annual policy statement, to set up a working group to study and recommend a suitable supervisory framework for these activities of banks.

Working Group for SPVs supervision: RBI

Interest rates are not expected to go up immediately even as the Reserve Bank of India (RBI) today announced a fresh 25-basis-point hike in the cash reserve ratio (CRR), the amount of cash banks must keep with the central bank, in its Annual Policy Statement for 2008-09.

Lending rates may be unchanged

Prime Minister Manmohan Singh said early on Tuesday that tackling inflation is an immediate concern as it had "consequences" for growth.

Dousing the inflation fire

Banks now need to set aside less capital for loans of up to Rs 30 lakh; they should be in a position to pass on the savings to customers in the form of lower rates.

Home loans may become cheaper

Overall Assessment 

<LI>While aggregate supply capacities expanded and alleviated domestic macro-imbalances in 2007-08 to some extent, available indicators suggest that economic activity in India currently continues to be mainly demand-driven.

Monetary Policy In 2 Minutes

Reserve Bank of India (RBI) has permitted banks to classify 100 per cent of the credit outstanding under general credit card (GCC) and overdrafts, up to Rs.

General credit card loans to be part of priority sector

Banks exposure to the commodity sector has come under the Reserve Bank of India (RBI) glare.

Commodity sector under RBI's lens

&nbsp;Time period for repatriation of export proceeds increased to a year. 
&nbsp;The credit policy offers exporters greater flexibility in realising and repatriating their export proceeds and addresses some of their long-standing demands.

Life will be easier for exporters now

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