Public sector lender IDBI Bank will double its medium-term note (MTN) programme to $3 billion from $1.5 billion, to raise foreign currency resources and meet the growing long-term fund demand of Indian companies.

IDBI Bank to double bond plan to $3 bn

Business Standard

India had scored poorly on financial inclusion parameters when compared with the global average, said the Reserve Bank of India in its annual report.

Financial inclusion: India scores poorly on global stage

The fall was mainly due to high inflation, decline in small savings and slower growth in households&rsquo; holdings of bank deposits, currency and life funds.

High inflation further pushes household savings down

Indian banks would need about Rs 5 lakh crore of additional capital to meet the Basel-III norms, the Reserve Bank of India (RBI) said in its annual report for 2011-12. State-run banks would need a majority of these funds &mdash; Rs 1.4-1.5 lakh crore of common equity and Rs 2.65-2.75 lakh crore of non-equity capital.

Banks need Rs 5 lakh cr to meet Basel-III norms

The Reserve Bank of India&rsquo;s balance sheet crossed Rs 4 lakh crore in 2011-12 (July-June) due to an increase in holdings of domestic securities and foreign assets.

OMOs, rupee fall inflate RBI's balance sheet

Investments in new projects slowed substantially in 2011-12, declining 46 per cent compared to the previous financial year, as investors were reluctant to invest in infrastructure projects in an uncertain economic environment. Existing investments, too, are at risk, as extended gestation periods and input supply shortages are affecting their viability.

Investments in new projects fall 46%

Rates on three-month certificates of deposit and commercial papers were almost unchanged today due to low issuances and comfortable liquidity in the banking system, dealers said. Rates of three-month CDs ended at 8.46-8.53 per cent against 8.47-8.53 per cent Wednesday, and those on three-month CPs ended flat at 8.80-8.95 per cent. Today, banks borrowed Rs 34,295 crore from the Reserve Bank of India&rsquo;s repo auction, down from Rs 38,965 crore borrowed on Wednesday.

Three-month rates untouched

The rupee reduced some of its initial losses today but was still down 14 paise at 55.40 against the dollar on demand for the American currency from banks and importers.

Rupee down 14 paise at 55.40/dollar

Press Trust of India

Rupee trading at 55.39/40 vs its previous close of 55.26/27, on its way to snap four sessions of gains. Delayed dollar purchases from oil importers after a two day nationwide bank strike also pushed rupee lower.

Rupee falls,  bundled dollar demand seen after strike

Reuters 

Capital market regulator Sebi has decided to park its surplus funds in fixed deposits of PSU banks, even if the returns offered by them are lower than that of private banks by up to 10 basis points (0.1%).

Sebi to prefer PSU banks for deposit of surplus funds

The rupee fell on Friday, snapping four sessions of gains, as profit-booking hit global risk assets and as hopes of substantive policy reforms faded as a political deadlock continued in parliament.

Rupee snaps 4-day gain, politics drag on currency

Companies other than non-banking finance firms are raising funds through the debt market, via non-convertible debentures (NCDs) and commercial papers (CPs), to take advantage of favourable costs and increased investor appetite.

Cheaper funds lure firms to debt market

Public sector lender Union Bank of India (UBI) is expecting capital infusion of about Rs 1,000 crore from the Union government this financial year.

UBI expects Centre's capital infusion of Rs 1,000 cr in 2012-13

&ldquo;We have decided to reduce the rate of interest on the car loans. We have decided (to cut)... Housing loan rate by 25 to 50 basis on houses between Rs 30-35 lakh. These will be effective from September 1,&rdquo; Central Bank of India Chairman and Managing Director M V Tanksale told reporters on the sidelines of a PHDCCI function here.

Central Bank to cut interest rate on home, other loans

The European Commission on Friday set a target date of September 11 to announce proposals to overhaul banking regulation in Europe, a key step in shoring up the Euro zone against future crises.

EU panel sets September 11 for bank regulation

The Institute of Chartered Accountants of India (ICAI) will meet Union Finance Minister P Chidambaram on retaining the current advance limit of bank branches for independent audit.

 ICAI to meet FM on bank branch audit in September 

Prosecutors investigating the movement of money by global banks suspect HSBC of laundering money for Mexican drug cartels and moving cash for Saudi Arabian banks with ties to terrorists, according to federal authorities with direct knowledge of the investigations.

HSBC inquiry points to drug cartel link 

Banking giant Citibank, has taken a slew of initiatives to exclusively cater to its women employees.

'She-initiatives' boost female employee numbers at Citi

Southern states of Tamil Nadu, Kerala, Andhra Pradesh and Karnataka account for about 50 per cent of education loans disbursed by public sector banks.

Southern states lead pack in providing education loans

The government has asked banks to focus on 'Urban Financial Inclusion' to ensure at least one bank account per family among poor in cities.

Govt asks banks to ensure one a/c per family among urban poor

The Reserve Bank has widened its probe into the affairs of British banking giants HSBC and Standard Chartered to a host of other foreign banks for alleged breach of controls against money laundering and terror financing.

RBI widens StanChart, HSBC probe to other foreign banks

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