Private sector lender HDFC Bank on Friday surpassed State Bank of India (SBI) as the country's most valued bank, in terms of market capitalisation, for the first time since January. Based on on Friday's closing price, HDFC Bank's market capitalisation stands Rs 1,37,727 crore, compared with SBI's Rs 1,30,250 crore.

HDFC Bank pips SBI as most valued bank

Business Standard

State-owned Punjab &amp; Sind Bank on Saturday reported a 62.5 per cent decline in net profit at Rs 24.03 crore for the quarter ended June, owing to high provisioning for bad loans. The bank had reported a net profit of Rs 64.09 crore in the corresponding quarter of the previous year.

Punjab & Sind Bank net profit falls 62.5%

Press Trust of India

Sanford &ldquo;Sandy&rdquo; Weill&rsquo;s call this week for breaking up large banks revived debate in Washington over &ldquo;too-big-to-fail&rdquo; lenders, prompting renewed assertions by industry groups that size yields economic benefits.

Weill comments revive Washington debate on 'too-big-to-fail'

After three years of the most terrible publicity this side of Jerry Sandusky, things have been looking up recently for Goldman Sachs Group.

Goldman is the scapegoat in Dragon's death

Middle India is gaining popularity among foreign banks in the country. It is partly due to regulatory compulsion but also because of growing business opportunities in smaller towns.

Foreign banks expand presence outside large cities

Mortgage lender Housing Development Finance Corp (HDFC) today announced 25 per cent increase in net profit at Rs 1,276 crore on a consolidated basis. HDFC on a standalone basis had registered a 19 per cent increase in net profit at Rs 1,002 crore over the same period a year ago.

HDFC consolidated net up 25%

An Andhra Pradesh Law, said to be the root cause of the collapse of microfinance in India and the state in particular, has no jurisdiction over microfinance institutions registered as Non-Banking Financial Company (NBFC), the RBI has told the AP High Court recently.

RBI submits affidavit on Andhra MFI act

Banking transactions through mobile phones have more than trebled to Rs 286 crore during May on account of a higher number of users with hand-held devices.

Mobile banking deals treble to Rs 286 cr in May

Defying the impact of economic slowdown, several banks including HDFC Bank, Bank of India, Union Bank of India posted double-digit growth in profit.

PNB remains ahead of ICICI in biz mix, makes less profit

Shriram City Union Finance Ltd (SCUFL) is planning to issue non-convertible debentures (NCDs) of about Rs 250 crore, with an over-allotment option of another Rs 250 crore, by August or September. &ldquo;We have to get board approval to go ahead,&rdquo; said Subhasri Sriram, executive director.

Shriram City Union Finance to issue Rs 500-cr NCDs soon

Banking transactions through mobile phones more than trebled to Rs 286 crore during May, on account of a higher number of users with hand-held devices.

Mobile banking transactions treble to Rs 286 cr

India is discomfortingly slipping into prolonged period of below potential growth and persistently elevated inflation. While enough has been discussed about the receding private capacity creation amidst increased fiscal excesses, no measures have been undertaken by the policymakers to tackle the widening supply-demand balance.

Upasna Bhardwaj: Limited room for a policy action

Erasing initial gains, the rupee today fell four paise to 55.38 against the dollar in late morning trade on month-end demand for the American currency from banks and importers despite firm trend at local equity markets.

Rupee down 4 paise to 55.38/dollar

The Reserve Bank of India (RBI) has raised a red flag over the sharp increase in the country&rsquo;s external debt and emphasised the need for increase in equity flows to finance the current account deficit (CAD).

Rising external debt a concern

Deutsche Bank has appointed Ravneet Gill as chief executive of its operations in India. Gill will also become a member of the bank&rsquo;s Asia-Pacific executive committee.

Ravneet Gill is India CEO of Deutsche Bank

Gilt funds were the best performers across the 22 mutual fund categories for the quarter ended June, according to a CRISIL Mutual Fund Rankings released on Monday. Gilt funds returned 3.1 per cent over the quarter, outperforming both equity and other debt oriented categories.

Gilt funds top performance chart 

The Small Industries and Development Bank of India (Sidbi) has projected a 17 per cent growth in the micro, small and medium enterprises (MSME) lending to over Rs 62,000 crore during the current financial year.

Sidbi pegs MSME credit at over Rs 62k cr in FY13

Bank of Baroda recorded 10.3 per cent growth in net profit at Rs 1,139 crore for the quarter ended June, owing to good growth in interest- and non-interest income. Net profit in the corresponding quarter of the previous year stood at Rs 1,033 crore.

Bank of Baroda net rises 10% on interest income

The Indian Overseas Bank (IOB) has posted an increase of 13.5 per cent in net profit at Rs 233.43 crore for the quarter ended June 30, 2012, as against Rs 205.58 crore registered during the same period the previous year. The bank&rsquo;s total income stood at Rs 5402.84 crore for the quarter, compared to Rs 4331.77 crore posted during the corresponding quarter of last financial year, an increase of 24.72 per cent.

IOB posts 13.5% growth in net profit

State-run Allahabad Bank on Monday said its net profit for the quarter ended June 30, 2012, expanded 23 per cent from a year ago to Rs 514 crore on the back of strong recoveries and growth in interest income.

Allahabad Bank Q1 net up 23%

Public sector lender Corporation Bank reported five per cent rise in net profit, at Rs 370 crore, in the first quarter ended June 2012 due to higher provisioning toward bad loans.

Corporation Bank profit up 5%

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