Microfinance institutions (MFIs) that work outside Andhra Pradesh have registered a growth in loan disbursement, while their counterparts focusing on the state have posted a decline.

MFIs report 15% contraction in loan book

Business Standard

The banking sector is likely to witness moderate growth in 2012-13 coupled with downside risks to net interest margins (NIMs) because of difficult economic environment, a Barclays research report said here on Friday.

'Banks to see moderate growth in FY13'

Press Trust of India

State Bank of India, the country's biggest lender, plans to borrow $1 billion to $2 billion from the overseas market in the next three months, Chairman Pratip Chaudhuri told reporters on the sidelines of a banking event.

SBI plans up to $2 bn offshore borrowing

Reuters 

State Bank of India&rsquo;s net interest margins were above the annual guidance of 3.75 per cent in the first two months of the current quarter, as the country&rsquo;s largest lender was able to manage the cost of funds by focussing on low-cost deposits.

NIMs above annual guidance of 3.75%: SBI chairman

Multi-currency travel cards are gaining popularity among Indian travellers, prompting private sector banks to make a dash to launch this product.

Multi-currency travel cards gain popularity

RBI Governor Duvvuri Subbarao is expected to go slow on his over two-year-old anti-inflationary posture and unveil a softer interest rate regime on Monday as more dark clouds gather over the economy, although inflation still remains above the Reserve Bank's comfort zone.

All eyes on RBI Governor as rate cut expectations rise

The high cost of funds could come in the way of effective monetary policy transmission, as bankers may find it difficult to cut lending rates aggressively in case the Reserve Bank of India (RBI) keeps banks&rsquo; Cash Reserve Ratio (CRR) unchanged at tomorrow&rsquo;s review. The central bank is widely expected to cut policy rates by at least 25 basis points.

Lower deposit growth may limit rate cut benefit 

The Department of Industrial Policy and Promotion (DIPP) has finally sanctioned the proposal of allowing foreign direct investment (FDI) from Pakistan. But the final notification will be issued by the Reserve Bank of India (RBI) within the next couple of weeks. The move will be unprecedented in the bilateral trading relations between both the nuclear-armed neighbours.

FDI from Pak: RBI to issue notification by month-end 

Pranab Mukherjee first became finance minister on January 15, 1982. Indira Gandhi, then prime minister, asked him whether he would be able to present the Union Budget on February 27. This was because though Union Budgets were typically announced on February 28, this time, this would be a Sunday.

Finance minister Mukherjee's quest for fiscal consolidation

The race to Raisina Hill may put a brake on Mamata Banerjee's Ma, Maati, Manush schemes till at least till the next Lok Sabha elections.

Kolkata's London dream on shaky ground

The head of the European Central Bank and other Euro zone leaders worked on Saturday on a grand vision for the Euro zone meant to reassure investors and allies that flaws in the currency union will be addressed quickly.

Euro leaders out to win investors, allies

The banks are on high alert. Hundreds of employees at big firms, some part of special teams, on standby this Sunday, are waiting for the results of Greece&rsquo;s pivotal elections. They are preparing for the worst case. The fear is that the vote will heighten the chances of Greece exiting the euro and the global financial system will be shaken when the markets open on Monday.

Banks' fire drill for Greek election

Ahead of the first mid-quarter review of monetary policy by the Reserve Bank of India (RBI) on Monday, the industry today asked RBI to go in for a bold move, cut interest rates and focus on growth. While the Assocham demanded 50-100-basis point reduction in short-term lending rates and the cash reserve ratio, the Confederation of Indian Industry asked the central bank to focus on growth. CII had earlier called for a CRR and repo rate cut of 100 bps.

Industry calls for rate cut, focus on growth

The rupee today rose by 5 paise to trade at 55.35 against the dollar in early trade at the Interbank Foreign Exchange as the American currency weakened against euro overseas.

Rupee up 5 paise at 55.35/dollar

The rupee failed to maintain initial gains against the dollar and was down 16 paise at 55.56 in the late morning trade on fresh demand for the American currency from banks.

Rupee down 16 paise at 55.56/dollar

The rupee falls further to 55.83/84 on the back of sharp falls in domestic stocks after RBI disappointed by leaving interest rates unchanged, and as euro reversed earlier gains despite slim majority won by pro-bailout parties in Greece elections.

Rupee falls towards 56 on euro slide

Smartinvestor: Hi, this is Puneet Wadhwa and we have Gaurav Kapur, senior economist, Royal Bank of Scotland with us for an exclusive chat on his interpretation of the Monetary Policy announcements and the road ahead for the economy.

It is too early to feel comfortable about inflation: Gaurav Kapur

Bankers are not known for their benevolence, especially when it comes to loan recovery or reduction in interest rates. This is where the sharp reduction in interest rates of SME (small and medium enterprises) and agriculture sector loans by State Bank of India (SBI) alone is a surprise.

SBI rate cut hints at deteriorating assets

REUTERS - The RBI left interest rates and CRR unchanged on Monday, defying widespread expectations for a rate cut and warning that relaxing policy could worsen inflation.

TIMELINE-Changes to India's reverse repo rate since 2001

The rupee weakened further on Monday to hit a near one-week low against the dollar after Fitch Ratings cut India's sovereign outlook to &quot;negative&quot; from &quot;stable&quot;, but affirmed the country at &quot;BBB-&quot;, the lowest investment-grade rating.

Rupee falls further on Fitch cut

Chief economic adviser Kaushik Basu on Monday said &quot;herd mentality&quot; of ratings agencies led to Fitch's revision of India's rating outlook to negative from stable, but added that the review was not surprising.

Kaushik Basu blames Fitch revision on 'herd mentality'

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