The Reserve Bank of India swung into action today after the rupee depreciated 1.7 per cent in four trading sessions and went close to its all-time low levels in early trade today. In a communication made after market hours, the central bank relaxed norms to encourage foreign currency inflows.

RBI eases norms to boost inflows as rupee weakens

Business Standard

After a gap of more than a decade, the government may turn to India&rsquo;s diaspora to boost foreign exchange reserves.

New scheme to mobilise forex deposits from NRIs on cards

The steep slide in the rupee against the dollar persuaded the poster boys of India Inc into selling dollars. A large construction company and two top-tier information technology firms on Friday sold $100-125 million each, industry sources and bankers told Business Standard.

Rupee gets support from India Inc

Indian banks may need to raise up to $50 billion (Rs 2.7 lakh crore) of additional equity under the Basel-III capital regulations announced by the Reserve Bank of India, on top of retained earnings, according to Fitch Ratings.

Fitch puts a number to banks' capital

Lower tax provisions helped public sector lender Bank of Baroda to report a 17.3 per cent rise in net profit for the quarter ended March 31, at Rs 1,518 crore, from Rs 1,294 crore in the corresponding period a year earlier.

BoB Q4 net profit rises 17%

Corporation Bank on Friday reported a marginal 1.7 per cent growth in net profit for the fourth quarter ended March 2012 at Rs 351.3 crore due to higher provision for restructured assets and a dip in non-interest income.

Corp Bank net up 1.7%

Banks may have to disclose profits from carry trades derived from 1 trillion euros ($1.3 trillion) in European Central Bank loans and exclude the money from bonus pools, under draft proposals from European Union lawmakers.

Banks may have to disclose profits from ECB emergency loans

Royal Bank of Scotland Group Plc, Britain&rsquo;s biggest publicly assisted lender, will pay back the last of its emergency aid from the UK taxpayer, bringing the company a step closer to moving out of government ownership.

RBS to repay last of government aid, reinstate dividends

Faced with the recent guidelines skewed in favour of nationalised banks, private gold loan companies (non-banking financial companies or NBFCs) have urged the Reserve Bank of India (RBI) to provide a level playing field.

Private gold loan companies seek level playing field

Manipal-based public sector lender Syndicate Bank has reported a seven per cent rise in net profit at Rs 309 crore for the quarter ended March 31, compared to the corresponding quarter of the previous financial year.

Syndicate Bank profit up 7% at Rs 309 cr

Indian Overseas Bank (IOB) has posted an increase of 21.76 per cent in net profit at Rs 528.81 crore for the quarter ended March 31, against Rs 434.29 crore registered during the year-ago period. Total income stood at Rs 5,416.09 crore for the quarter ended March,compared with Rs 3,916.58 crore posted for the corresponding period of last year, an increase of 38.29 per cent.

IOB net profit rises 22% to Rs 529 cr

Allahabad Bank has reported a 55.36 per cent growth in net profit for the quarter ended March 31 at Rs 400.22 crore, against Rs 257.60 crore in the year-ago period.

Allahabad Bank net soars 55%

State-run lender Punjab &amp; Sind Bank on Saturday posted a 13 per cent increase in net profit at Rs 147.8 crore for the quarter ended March. Its net profit in the year-ago period stood at Rs 130.2 crore.

Punjab & Sind Bank net rises on fee income

Higher slippages and provisioning led to an almost flattish net profit for Kolkata-based United Bank of India (UBI) in the fourth quarter of the last financial year.

UBI net up 4.2% bad loans take toll

UCO Bank recorded a 12 per cent rise in net profit at Rs 253 crore for the quarter ended March 31, against Rs 226 crore in the same period last year. &ldquo;The profits would have been more but for higher provisioning for non-performing assets of Rs 379 crore during the fourth quarter, as against Rs 94 crore during same period last year,&rdquo; said Chairman and Managing Director Arun Kaul. Provisioning rose on account of bad loans from sectors like aviation and iron and steel.

UCO Bank net rises 12% to Rs 253 cr

The Union textile ministry has appointed Bank of Baroda Capital, the merchant banking subsidiary of Bank of Baroda (BoB), to prepare a debt restructuring plan for the textile industry. Confirming the development, sources in BoB said the bank was expected to submit its recommendations by next week.

BoB Cap to prepare debt rejig package for textile industry

State owned lender Bank of Maharashtra (BoM) has reported a net profit of Rs 72.83 crore for the year ended March, compared with Rs 69.41 crore in 2010-11, a rise of 4.93 per cent. Total income for the quarter grew 21.65 per cent.

BoM net up 4.93%

Indian banks, after having provided credit card services to 17.6 million people in Tier-I and -II cities, are expanding their footprint in smaller towns &ndash; some with population of less than 20,000. The saturation of demand in the country&rsquo;s top 10-15 cities has impelled banks to set out for deeper geographies. This initiative is being spearheaded by private sector banks like HDFC Bank and Axis Bank.

Private bankers put their money on 'middle India'

Asian currencies fell this week by the most in more than a month, as worse-than-projected data from the US heightened concern the global recovery is stalling, damping the outlook for the region&rsquo;s exports.

Rupee leads Asia currency declines this week on recovery concern 

The Reserve Bank of India has decided to rope in a third-party consultancy firm to help it incorporate global best practices in its supervisory role and prepare the risk ratings for various banks in the country.

RBI to hire consultant to help supervise banks

Press Trust of India

Yields on government bonds may edge up this week as markets await another round of fresh supply of government securities. According to the issuance calendar, the Reserve Bank of India (RBI) will auction Rs15,000-crore bonds on Friday.

Bond yields seen up on borrowing concerns

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