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

Business Standard

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

Manipal-based public sector lender Syndicate Bank is planning to hit the global capital market with its $500-million medium-term note offering in September.

Syndicate Bank to raise $500 mn

Two more institutions joined the growing list of analysts expecting sub-six per cent growth for India this financial year, with American banking major Citi and global brokerage CLSA on Wednesday cutting their estimates to 5.4 and 5.5 per cent, respectively.

Citi, CLSA peg India's growth at 5.4%

Press Trust of India

The Tamil Nadu tourism department is implementing a Rs 450-crore project along with the Asian Development Bank (ADB). In the first phase, the department would take up the East Coast circuit followed by the Southern circuit. The main focus will be on improving infrastructure and safety.

ADB to support Rs 450 cr tourism project in TN

Assam has sought financial assistance from the Centre and multilateral funding agency, Asian Development Bank (ADB), for upgrade of sectors like power, tourism and urban development in the state.

Assam seeks ADB loan for upgrade of various sectors

The rupee today appreciated by 32 paise to 55.10 against the US dollar in early trade on the Interbank Foreign Exchange, as the American unit weakened against euro overseas.

Rupee up 32 paise to 55.10/dollar

Dealers says factory data exacerbates concerns about slowing growth, especially after brokerages including Citigroup and CLSA have downgraded their growth forecasts this week.

Rupee off highs after IIP contracts

Reuters 

Reuters Market Eye - Rupee falls from sessions highs to trade at 55.30/31, though still higher than its 55.42/43 close on Wednesday.

Rupee falls from session highs on IIP data, euro

Public sector Punjab National Bank (PNB) today ruled out any reduction in lending rates for now in the wake of high inflation and increased cost of funds.

No cut in lending rates till cost of deposits come down: PNB

If everything goes well, Haryana could very soon boast of bank branches within a radius of every 5 Km to bring the rural masses under the ambit of banking services.

Banking services for every village in Haryana

Defaults and restructuring of short-term debt in the past couple of months have raised concerns over companies&rsquo; liquidity situation in the current economic environment. According to market participants and rating agencies, there have also been sharp downgrades of short-term papers.

Red flag over corporate defaults

Micro lenders seem discontented with the relaxations offered by the Reserve Bank of India (RBI) on the functioning of non-banking finance company-microfinance institutions (NBFC-MFI).

MFI body wants more relaxation

The meeting comes when the country is faced with slowing growth and drought in some parts. And, fiscal and monetary space is limited in trying to spur growth and investment.

FM to meet PSB chiefs next week

Banks have been seeing a slide in current account deposits, where businesses park funds but don&rsquo;t get interest.

Current account deposits shrink in Q1

State Bank of India (SBI) shares fell 4.3 per cent on Thursday, its biggest single-day percentage fall since June 18, on concerns the country&rsquo;s biggest lender would report disappointing earnings tomorrow.

SBI shares fall ahead of earnings NPAs  eyed

The rupee lost 16 paise to Rs 55.43 against the dollar in early trade today at the Interbank Foreign Exchange market on strengthening of the American currency overseas.

Rupee down 16 paise to Rs 55.43/dollar

State Bank of India, the country's largest lender, beat street expectations as its net profit surged for the second consecutive quarter on strong loan growth, but a rise in bad loans pulled down its shares.

SBI Q1 net surges, shares fall on bad loans

Rupee still lower, but trading in a narrow range tracking listless stocks, says dealers. The pair is at 55.40/41 versus Thursday's close of 55.27/28. It has traded in the range of 55.30-55.48 in the session.

Rupee falls tracking stocks, euro

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