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%

Business Standard

Kolkata-headquartered Icra Techno Analytics Limited (ICTEAS), a unit of rating agency Icra Limited, will buy California-based BPA Technologies, a business consulting and software technology services firm, for about $16 million.

Icra arm buys US tech firm

The government might have to settle for a high coupon rate, if a new 10-year security was issued in a week or two, according to market participants. With issuances in the current 10-year benchmark bond 8.79 per cent set to rise to Rs 77,000 crore this week, there are hopes that the government may look at issuing a new 10-year security soon. In such a case, the cut-off yield may touch 8.70 per cent levels.

Issuing new 10-year bond now may prove costly for govt

Public sector Indian Overseas Bank (IOB) has increased interest rates in foreign currency non-resident (Banking) accounts by 175 basis points for deposits of three to five years.

IOB hikes foreign currency NRI deposit rates by up to 175 bps

Press Trust of India

The Union finance ministry has told all government-owned banks to follow a standardised policy on personnel management at senior levels.

Streamline senior HR rules, govt tells PSBs

Despite higher provisioning, public sector lender Union Bank of India on Wednesday reported a 29.3 per cent rise in net profit for the quarter ended March 31, on the back of healthy recovery from bad debts and lower employee cost. Net profit for the quarter stood at Rs 773 crore, against Rs 598 crore reported in the corresponding period a year ago.

Union Bank net profit up 29%

The consumer confidence in the country improved marginally in April, a fourth straight month of upward trend. In urban areas, though, the undertone still remains that of pessimism, according to the Consumer Confidence Index (CCI) by BluFin.

Consumer confidence improves in April

Punjab National Bank (PNB) on Wednesday reported a 18.6 per cent rise in net profit to Rs 1,424 crore for the quarter ended March 31, against Rs 1,201 crore in the fourth quarter of the previous year. The increase came on account of a rise in interest income and lower provisioning during the quarter.

PNB net up 18.6% on interest income

The infrastructure sector, considered the most attractive private equity investment destination, is going through a crisis in fund raising and investments. Though nine infra-focused funds were launched in India with a plan to raise about Rs 20,000 crore during 2009-2012, they have managed to raise only Rs 7,800 crore due to the uncertainties looming over the sector.

Bumpy road ahead for infrastructure fundsn

SAP Ventures, an independent venture capital (VC) fund affiliated to global technology firm SAP, is planning to invest 15-20 per cent of its corpus in India.

SAP Ventures to invest 15-20% of corpus in Indian companies

Speaking to reporters while announcing the annual financial results of the bank, he said, &ldquo;We may require an additional capital of nearly Rs 9,500 crore to meet the Basel III requirements.

IOB may need Rs 9,500 cr more to meet Basel III by 2017-18

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 to raise more capital

The rupee continued its downward slide due to the euro zone crisis, closing at an all-time low of 53.83 a dollar today. Though the Reserve Bank of India (RBI) intervened by selling dollars, it was unable to arrest the fall.

Rupee gets euro zone jolt, hits all-time low

The rupee rose after the RBI fixed intra-day open position limits at five times the net overnight open position limit for rupee trading.

Rupee gains after RBI forex market measures

Reuters 

Concerned over the volatility in Rupee, Chief Economic Advisor Kaushik Basu today made a case for RBI curbing speculative activity in foreign exchange market.

RBI should check speculation in forex market: Basu

The Reserve Bank of India on Thursday cracked down on dollar hoarding by exporters to support the domestic currency, which fell 1.3 per cent yesterday to close at a record low.

RBI fights to arrest rupee fall

Hoping to put an end to a four-year banking crisis, Spain&rsquo;s government effectively took over Bankia SA, one of the country&rsquo;s biggest banks, late on Wednesday after days of market anxiety over the lender&rsquo;s viability.

Spain takes over Bankia

A leading cooperative bank from Maharashtra, TJSB (Thane Janata Sahakari Bank), has decided to expand in other states and plans to open branches in Goa, Karnataka and Gujarat, top officials said. TJSB Chairman Vidyadhar Vaishampayan said at a press conference here on Thursday that the bank would open three branches in Gujarat, one in Karnataka and two more in Goa at Ponda and Margao in addition to Mapusa where it already has a branch.

TJSB to expand in neighbouring states

Steps taken by the Reserve Bank of India (RBI) to augment dollar inflows would ease the pressure on the rupee&rsquo;s exchange rate, and the currency is unlikely to fall to fresh lows soon. However, developments in the euro zone, the strengthening dollar and global risk aversion may add to weak fundamentals like the widening current account deficit and a policy paralysis.

Measures to offer short-term relief 

After a gap of six to eight months, public sector banks (PSBs) have geared up to establish 60,000 more Automated Teller Machines (ATMs) across the country over the next two years. The state-owned lenders had put their ATM expansion on hold as a centralised outsourcing model was being worked out by a committee appointed by the government.

Govt banks to install 60,000 more ATMs

SKS Microfinance no longer wants to be known as an Andhra-based company. It has decided to shift its headquarters to Mumbai.

SKS shifts base to shed Andhra tag

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