State Bank of India is closing its one-time settlement (OTS) scheme for bad loans of small, micro and medium enterprises due to disappointing response.

SME loans: SBI to close one-time settlement scheme

Business Standard

Losses due to banking fraud have gone up sharply by 88 per cent in 2010-11, CBI director A P Singh said on Tuesday.

Loss due to bank fraud up 88%: CBI chief

Most of these loans were given to the state electricity boards (SEBs) but were restructured after the boards failed to repay.

Power sector debt rejigs pinched in Q1: Banks

The Reserve Bank of India on Tuesday said Indian lenders are resilient enough to weather the pressure on farm loans caused by drought like situation because of deficient monsoon.

Indian banks can weather impact of drought: RBI

Press Trust of India

Outsourcing of key oversight jobs by global banks to India has come under the scanner for the second time in less than a month for allegedly exposing the US financial system to terrorists and money laundering risk. After the US Senate&rsquo;s Permanent Committee on Investigations pointed out major lapses in the work of HSBC&rsquo;s India staff, another UK-based banking giant Standard Chartered&rsquo;s (SCB) outsourcing of key banking jobs to Indian shores is now being probed by the US.

After HSBC, StanC's India outsourcing under US scanner

The public sector bank, Punjab National Bank (PNB), has launched a nationwide campaign to mop up low-cost funds from retail customers.

PNB 'banking' on retail customers for low-cost funds

Jim O&rsquo;Neill ushered in a decade-long investment boom in 2001 when he coined the term BRICs for the largest emerging markets. This year, a lesser-known acronym that the Goldman Sachs Asset Management chairman is helping to popularise has taken over for many investors.

Goldman sees 'mist' rising as small markets outperform

Major banks, which often band together when facing government scrutiny, are now turning on one another as an international investigation into the manipulation of interest rates gains momentum.

As Libor probe grows, it is now every bank for itself

The rupee rose by 5 paise to trade at fresh one-month high of 55.02 against the American currency in early trade today at the Interbank Foreign Exchange on persistent dollar selling by exporters and some banks.

Rupee gains 5 paise, at 55.02/dollar

The rupee erased initial gains today and was down 12 paise at 55.19 against the dollar on fresh demand for the American currency from banks and importers.

Rupee down 12 paise, at 55.19/dollar

Standard Chartered Plc Chief Executive Officer Peter Sands hit back at a New York regulator&rsquo;s claims the lender broke US sanctions, and challenged the accuracy of the watchdog&rsquo;s assertions.

StanC CEO rejects NY regulator's claims

The norms for selecting public sector banks&rsquo; chiefs are likely to be tweaked again. The finance ministry has proposed to remove from the guidelines a clause on the lateral movement of small and mid-sized banks&rsquo; heads to large banks. If the proposal goes through, the executive director of a large bank will be preferred over the chairman and managing director of a small bank to fill a top vacancy in an &lsquo;A&rsquo; category bank.

Bank chief selection norms may change

Multiples Private Equity, a $400-million fund started by Renuka Ramnath, is understood to be close to finalising a Rs 220-crore investment in Mysore-based super-speciality hospital chain Vikram Hospital Private Limited.

Multiples closes in on Vikram Hospital stake for Rs 220 cr

The All India Bank Employees&rsquo; Association (AIBEA), which represents the employees of the public-sector banks, has threatened to go on a two-day strike from August 22, against the government&rsquo;s proposed Banking Bill, closure of rural branches and other set of banking sector reforms.

Bank staff threaten two-day strike

Credit Information Bureau (India) Limited (Cibil), the country&rsquo;s first credit information company, is planning to expand its portfolio of services by introducing a &lsquo;Risk Index&rsquo; for corporate and business houses.

Cibil mulls Risk Index for corporate houses

L Capital Asia, the private equity arm of the world&rsquo;s biggest luxury products group, Louis Vuitton Mo&euml;t Hennessy (LVMH), is becoming a believer of the long-term Indian consumption story. And, its strategy is obvious: Strengthen operations in one of the fastest growing luxury markets in Asia.

L Capital bets on luxury consumer space

HDFC Bank &mdash; country&rsquo;s largest credit card issuer &mdash; has launched its first co-branded credit card with Jet Airways. These cards would give additional benefits to the frequent flyers of Jet Airways. There would be three types co-branded credit cards, namely World, Platinum and Titanium. &ldquo;Annual fees would be Rs 2,999, Rs 1,499 and Rs 699, respectively&rdquo; said Parag Rao, head, credit cards, HDFC Bank.

Co-branded credit card from HDFC Bank

Indian Overseas Bank has reduced home loan rates, for loans up to Rs 30 lakh, by 25-100 basis points. A 50-bps cut in auto loan rates was also announced.

IOB cuts home and auto loan rates

Andhra Pradesh State Cooperative Bank (Apcob), with the support of International Finance Corporation (IFC), will design new credit and non-credit products, including loans, savings, insurance and remittances, for small farmers in the state.

Apcob to design credit products for small farmers

The software &amp; services industry attracted the most investments, accounting for 23.26% of the total investments in terms of deal volume with an aggregate of $1.3 billion.

A snapshot of PE activity & deals

Banks&rsquo; loan growth fell by Rs 21,468 crore for the fortnight ended July 27 while deposits went up by 22,200 crore, latest data released by the Reserve Bank of India showed.

Banks' loan book shrinks by Rs 21k cr

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