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

Business Standard

As part of its plans to integrate data from various banks through an automated data flow system, the Reserve Bank of India (RBI) has asked the government-run Indian Overseas Bank (IOB) to migrate from its in-house core banking solution (CBS) to an Oracle-based platform.

IOB mulls new core banking solution

&ldquo;We are targeting a growth of 24 per cent in deposits this fiscal. During 2011-12, we mobilised Rs 1,47,707 crore, showing a growth of 16 per cent.

Syndicate Bank targets 20% growth in advances in FY'13

International Finance Corporation (IFC) is to make an equity investment of around Rs 150 crore in Chennai-based microfinance company Equitas Holdings Pvt Ltd and Bangalore-based Ujjivan Financial Services. These would help both microfinance institutions (MFIs) to support their geographical and business expansion and meet capital adequacy requirements for the next three to five years.

IFC to make Rs 150-cr equity investment in Equitas & Ujjivan MFIs

Foreign institutional investors (FIIs) infused money in both equities and debt, as the rupee was nearing 53 levels against the dollar last week, on hopes the domestic currency may not fall much from that level.

FIIs step up buying after rupee nears 53 against dollar

SKS Microfinance Limited, the only listed microfinance company in the country, has incurred a net loss of Rs 329.5 crore for the quarter ended March 2012. The loss amount is 372 per cent higher than the loss of Rs 69.76 crore incurred in the corresponding quarter of the previous year.

SKS Microfinance incurs Rs 330 cr loss

The Reserve Bank of India (RBI) on Monday said it might infuse up to Rs 12,000 crore this week via Open Market Operations (OMO), to ease liquidity pressure and create appetite for fresh supply of government bonds.

RBI announces OMO to ease liquidity

Despite a fall in global commodity prices, headline inflation has been sticky due to supply bottlenecks and strong domestic consumption demand.

Non-traded items add to inflation pressure: Gokarn

A 24 per cent rise in net interest income enabled Housing Development Finance Corporation (HDFC) Ltd to report a 16 per cent rise in its net profit during January-March 2012 at Rs 1,326 crore, compared with Rs 1,142 crore in the corresponding period last year.

HDFC Q4 net soars 16%

Recouping from sharp early losses, the rupee gained an impressive 56 paise at 52.91/92 against the dollar, to snap a four-day losing string as hopes of strong fund flows got a boost from Finance Minister Pranab Mukherjee&rsquo;s deferring the controversial GAAR by one year. Treasury managers in banks said steps announced by the Reserve Bank regarding FCNR and export credit also lifted the rupee sentiment.

Rupee gets GAAR relief, gains 56 paise

Press Trust of India

SKS Microfinance, the country's only listed microlender, has suffered a loss of Rs 330 crore in the quarter ended March 31 due to heavy provisioning and write-offs. The company allotted Rs 278 crore under provisions and write-offs in the fourth quarter of FY12 and 1,173.5 crore for the whole year due to non-collection of Andhra Pradesh dues.

SKS posts Rs 330-cr loss on heavy write-offs

The Reserve Bank on Monday allowed non-resident Indians to transfer funds from a non-resident ordinary (NRO) account to a non-resident external (NRE) account subject to a ceiling of $1 million in a financial year. The decision came after the K J Udeshi committee recommendation to facilitate persons under the Foreign Exchange Management Act, 1999, it said.

NRIs can transfer funds from NRO to NRE a/c

Manipal-based public sector lender, Syndicate Bank, is aiming at garnering a total business of Rs 40,000 crore from Andhra Pradesh in the current financial year, as against Rs 30,000 crore achieved last year, according to executive director M Anjaneya Prasad.

Syndicate Bank eyes Rs 40k cr business from AP in FY13

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

Despite growth and inflation balance shifting favourably, the Reserve Bank of India (RBI) foresees inflationary pressures in the medium and long term. In the present economic environment, there is little room for lowering interest rates, said RBI deputy governor Subir Gokarn.

Little room to cut interest rates: RBI

After establishing a presence in Indonesia and Sri Lanka, Icra, the rating agency and associate of Moody&rsquo;s in India, plans to expand further in Asia to get a slice of business from the growing bond markets.

Icra plans to expand in Asia

The rupee fell on Tuesday against the dollar as foreign institutional investors pulled out from the equity market, prompting the Reserve Bank of India (RBI) to intervene and arrest the pace of the slide.

Rupee weakens as FIIs pull out

State-run lender Central Bank of India reported a net loss of Rs 105 crore for the quarter ended March 31, on the account of significant rise in provisions for non-performing loans. In the same quarter last year, the bank had reported a net profit of Rs 113 crore.

Central Bank of India posts loss

After a successful nine-year stint, the man who took Standard Chartered to the pinnacle of merger and acquisition in India and Southeast Asia has quit. Singapore-based Prahlad Shantigram, global head (M&amp;A) of the bank, resigned in April.

Prahlad Shantigram quits Standard Chartered

Kotak Mahindra Bank has posted a six per cent rise in consolidated net profit for fourth quarter ended March 2012 at Rs 521 crore on lower contribution from treasury.

Kotak Mahindra net up 6%

Dena Bank on Tuesday reported a 62 per cent rise in net profit for the quarter ended March 31 at Rs 255 crore, against Rs 157 crore reported in the corresponding period a year ago, on the back of healthy growth in fee-based income.

Dena Bank profit rises 62%

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