Public sector banks will not have to focus on their top line growth, as there will be no targets for them to meet credit and deposit growth for the current financial year. Instead, the finance ministry has asked the government-owned banks to focus on increasing efficiency and bringing down non-performing assets. Banks will now have targets on lowering the number of loss-making branches and cutting bad loans of regional rural banks.

No loan growth target for PSBs

Business Standard

Karur Vysya Bank (KVB) has started implementing the recommendations of management consultancy Boston Consulting Group (BCG), including organisational restructuring and business re-engineering, in a bid to meet the private sector lender&rsquo;s Rs 1.25 lakh crore business target by 2016. &ldquo;Even amid the slowdown in economic growth and increasing competition in the market, the bank has managed to focus on execution of its strategic agenda and delivered results which would ensure that the bank is on the right track to achieve its centenary year (2016) goals,&rdquo; said K Venkataraman, managing director and chief executive officer.

Karur Vysya in rejig mode

The rupee traded marginally lower by 3 paise to 55.15 against the dollar in early trade today as the American currency gained strength against euro and other Asian currencies.

Rupee marginally down, at 55.15/dollar

Press Trust of India

Rupee/dollar last at 55.21/22 vs 55.12/13 close on Thursday, though trading has been range-bound through most of the session.

Rupee higher in range bound trading as euro falters

Reuters 

The rupee fell on Friday, snapping three successive weeks of gains, as risk aversion pummeled global risk assets such as the euro, though buying of the local unit ahead of an auction of debt limits to foreign investors kept losses in check.

Rupee falls on global risk aversion policy reforms key

In a move that will make it tougher for companies to restructure debt, a panel set up by the Reserve Bank of India has recommended higher provisioning on such loans by banks and a sharp increase in the promoters&rsquo; contribution. The panel has also recommended that personal guarantees of promoters, during loan recasts, be made mandatory to ensure continued commitment.

Companies face tougher debt restructuring regime

A public interest litigation (PIL) questioning the regulatory power of Reserve Bank of India (RBI) over cooperative banks has been filed in the Gujarat High Court.

PIL questions RBI&#39;s power to regulate coop banks

Foreign banks in India and having more than 20 branches are to be treated on a par with domestic banks in priority sector lending.

Priority sector credit rules for large foreign banks, too

Foreign institutional investors (FIIs) on Friday showed interest in buying government and corporate debt with no tenure or lock-in restriction, while there were few takers for the long-term debt. The Securities and Exchange Board of India (Sebi) on Friday conducted an auction to sell unutilised debt limits.

FIIs lap up bond limits with no restrictions

It is an open secret in the banking world: the interest rates for many mortgages and loans are based on a benchmark that is largely guesswork.

Libor scandal shows flaws in rate-setting

Indiabulls Financial Services reported a 20.5 per cent increase in net profit at Rs 267 crore for the first quarter ended June 30, compared to the year-ago period.

Indiabulls net up 20.5%

The number of risk managers at Srei Infrastructure Finance has increased by 63 per cent in the last two years and stands at 13. With three lines of defence towards risk management, the company is pulling all stops to ensure the company is guarded from all kinds of risk. Since risk professionals play a key role, they have been put on an equal stature as business developers.

Demand for risk managers increases

Government bond prices are likely to rise tomorrow, as deepening worries over the Euro zone debt crisis might boost the appetite for gilts.

Gilts seen firm

The rupee fell by 43 paise to trade at 55.75, its lowest since July 13 against the dollar in early trade today at the Interbank Foreign Exchange as the American currency strengthened against euro and other currencies in the overseas market.

Rupee tumbles 43 paise, at 55.75/dollar

State-owned Allahabad Bank today slashed fixed deposit rate by 0.25% for a particular maturity.

Allahabad Bank cuts FD rate by 0.25% on select maturity

The public sector Allahabad Bank is putting its focus on urban financial inclusion, a move likely to expand its &lsquo;base&rsquo;, and, scope of financial inclusion in the urban areas of the country, said a senior official of the Bank here on Monday.

Urban financial inclusion on Allahabad Bank radar

Banks need not classify hedging of derivative contracts that are terminated partially or fully as restructured accounts. The move, announced by the Reserve Bank of India (RBI) on Monday, would ease banks&rsquo; provisioning burden.

RBI eases derivative contract norm

Any company planning to undertake factoring business will have to register itself as an &lsquo;NBFC-Factor&rsquo; with the Reserve Bank of India (RBI) and should have a minimum net owned fund of Rs 5 crore, the central bank said on Monday.

RBI narrows factoring window

Within the next two years, the number of cases referred for debt restructuring might go up substantially, with the Reserve Bank of India proposing a tougher regulatory regime in this regard by mid-2014, experts said.

Longer debt recast line likely

The rupee fell the most in a month as investors sought the perceived safety of the dollar on concern Europe&rsquo;s debt crisis will worsen.

Rupee drops most on Europe debt concern

Large foreign banks in the country are grappling with the revised priority sector lending targets as these lenders do not have adequate branch presence to meet the new guidelines. Many of them fear stress on their profitability as their risk management frameworks are not customised to manage farm loans and advances to weaker sections of the economy.

Foreign banks ask for more branches

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