The rupee dropped 35 paise to 56 per dollar after a gap of two weeks on persistent demand for the American currency from banks and importers.

Rupee touches 56-level against dollar, down 35 paise

Press Trust of India

The Indian rupee fell to a two-week low on Thursday, aligning with a surge in the global dollar, with losses pruned by dollar selling by large corporates at higher levels.

Rupee falls to 2-week low, corp selling prunes losses

Reuters 

Even as weak monsoon and lower growth estimate hints at dull economic condition in the country, the credit card companies have a reason to cheer.

Credit card defaults drop despite dull economy

Business Standard

The rupee fell to the lowest level in almost two weeks on concern the nation&rsquo;s current-account deficit will widen to a record as Europe&rsquo;s debt crisis hurts exports.

Rupee at two-week low on current-account concern

The rates on commercial paper (CP) fell below nine per cent after about one-and-a-half years, as investors took advantage of interest differentials with other debt instruments such as certificates of deposit (CDs).

Commercial paper rates fall below 9% on investor interest

State-run Union Bank of India (UBI) will need Rs 950-1,000 crore as additional capital to meet its business needs this financial year, chairman and managing director D Sarkar said here on Thursday.

'Union Bank needs Rs 1,000 cr more capital in FY13'

ICICI Bank, the largest private sector lender in the country, on Thursday said it has raised $750 million by selling bonds in the overseas markets.

ICICI Bank raises $750 mn abroad

KSL &amp; Industries has settled a court dispute with holders of its foreign currency convertible bonds (FCCBs).

KSL & Industries settles Rs 500-cr foreign currency convertible bond dues

Reserve Bank of India (RBI) on Thursday said the possibility of India&rsquo;s sovereign rating downgrade by global agencies like Moody&rsquo;s and Fitch can be averted by improvement in government finances. Fiscal consolidation, said RBI Deputy Governor Subir Gokarn, will also help in moderating inflation and lowering interest rates.

Improvement in govt finances can avert rating downgrade: Gokarn

Oriental Bank of Commerce has slashed its base rate 0.1 per cent to 10.40 per cent with effect from on Thrusday.

Oriental Bank cuts base rate by 0.1%

India lent about $221 million to three heavily indebted European countries &mdash; Ireland, Portugal and Greece &mdash; in the six months ended March.

India lent $220 mn to Ireland, Portugal, Greece

India&rsquo;s foreign currency reserves fell to about seven months of import cover at the end of March 2012 from eight and a half months at the end of September 2011, according to a Reserve Bank of India report.

Forex reserves' import cover dips 

The rupee rose by 7 paise to Rs 55.68 against the dollar in early trade today on the Interbank Foreign Exchange as the American currency weakened against euro overseas.

Rupee up 7 paise to Rs 55.68/dollar

Rupee trading near day's high as local stocks rise, euro holding gains.

Rupee at day's high at 55.86/dollar

The rupee rose marginally on Friday, helped by the euro's gains and after a government panel forecast a lower current account deficit, but still posted a fall for the week as high global crude prices sparked demand for dollars.

Rupee rises on lower current account deficit forecast

Reserve Bank of India Deputy Governor K.C. Chakrabarty got an extension of two years until June 30, 2014, a release from the central bank said on Friday.

RBI deputy guv Chakrabarty's term extended until June 2014

Kerala-based Federal Bank aims to become a dominant player in the Indian banking sector, establishing a significant presence in select states and segments, a top company official said today.

Federal Bank opens 1,000th branch

The finance ministry has asked public sector lenders to form consortiums to restructure the accounts of state electricity boards (SEBs). The bank with the highest exposure to the SEB concerned should take the lead in the process, it added.

Form consortium for lending to discoms: FinMin

India&rsquo;s foreign exchange reserves rose $17.8 million to $289.17 billion for the week ended August 10, the Reserve Bank of India said. The reserves had increased $502 million to $289.15 billion in the previous reporting week. Foreign currency assets, a major component of the reserves, were down $34.1 million to $256.92 billion for the week under review, RBI said.

Forex reserves up

The Reserve Bank of India (RBI) appointed Jasbir Singh as executive director of RBI.

Jasbir Singh is RBI ED

The government has reappointed K C Chakrabarty as deputy governor of the Reserve Bank of India (RBI) till June 30, 2014. Chakrabarty (60) &mdash; one of the four deputy governors of the central bank &mdash; was appointed in June 2009 for three years. On the completion of his term on June 14, 2012, the term was extended by three months.

Chakrabarty re-appointed

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