India Inc, till recently sitting on a cash pile, is drawing this down. High interest rates have made companies turn away from bank loans to meet their working capital requirements.

India Inc using up cash for short-term needs

Business Standard

It is a tough year ahead for private sector companies that wish to raise debt in 2012-13, as there are concerns that large government borrowings may crowd out the market and compel them to offer higher yields to attract investors.

Heavy govt borrowing to push up corporate bond yields

With economic slowdown pushing up the tally of bad loans, Union Bank of India will focus on improving the management of non-performing assets (NPAs) and bolster its financial profile, said the new chairman and managing director, D Sarkar.

New Union Bank chief to focus on NPAs, retail biz

Malaysian lender CIMB is set to buy a part of Royal Bank of Scotland&rsquo;s (RBS) wholesale banking businesses in the Asia-Pacific region, including India.

Malaysia's CIMB to buy part of RBS biz in Asia-Pacific

Four out of the five microfinance institutions, which opted for loan recast, have failed to convince banks to admit their proposals in the Corporate Debt Restructuring (CDR) cell.

Most microfinance firms' loan rejig plans fail to clear scrutiny of banks

Hong Kong and Shanghai Banking Corporation (HSBC) on Monday appointed Stuart Milne as chief executive officer for its India business.

Stuart Milne named HSBC India CEO

Credit by banks grew by 23.5% in the quarter to September 2011, up from 19.3% over the same period a year ago, indicating greater economic activity in the country despite higher interest rate regime.

Banks credit grew 23% in July-Sept: RBI

Press Trust of India

Visakhapatnam Cooperative Bank (VCB) has achieved a 25 per cent growth in total business during the fiscal ending March 2012. The bank&rsquo;s total business increased to Rs 2,084 crore (deposits Rs 1,210.95 crore and advances Rs 873.96 crore) from Rs 1,686 crore (deposits Rs 972.69 crore and advances Rs 723.75 crore) in March 2011. &ldquo;We have been achieving around 40 per cent growth year-on-year during the last three years, but in 2011-12, the growth was hit because of the

Vizag co-op bank sees 25% growth in business

The National Bank for Agriculture and Rural Development (Nabard), on Tuesday, announced plans to waive off loans to weavers in Uttarakhand where it increased its loan disbursement by 30 per cent to Rs 906.35 crore.

Nabard to waive off loans to weavers

The corporation, a member of the World Bank Group, said this investment will be in the form of a 15-year subordinated bond. It is expected to strengthen the bank&rsquo;s capital base significantly.

IFC gives $75-mn loan to YES Bank for agri, SMEs

The National Bank for Agriculture and Rural Development (Nabard) has recorded a 40 per cent growth in agriculture credit and rural development in Karnataka during 2011-12. It has extended farm credit of Rs 6,053 crore during the year. While the production credit refinance extended to cooperative banks and regional rural banks (RRBs) was Rs 3,775 crore, its finance to state government under the Rural Infrastructure Development Fund (RIDF) was Rs 739 crore.

Nabard records 40% growth in farm credit in FY12

Potential downgrades of banks including Morgan Stanley and UBS AG, which could have their credit ratings cut by Moody&rsquo;s Investors Service to the lowest level ever, threaten to shake up Wall Street&rsquo;s balance of power.

JPMorgan's lead over Morgan Stanley widens on rating cut talks

Indian ship breaking companies have lost almost Rs 800-1000 crore during financial year 2011-12 due to rupee depreciation against US dollar. According to the industry, weak rupee converted profits into losses, mainly after October 2011 period.

Rupee fall costs ship breaking cos Rs 1,000 cr

The yields on the 10-year benchmark government bond touched a four-month high of 8.78 per cent on Tuesday as the Reserve Bank of India (RBI) conducted the first auction of the financial year amid tight liquidity conditions.

Yields soar to 4-month high at first govt bond auction of FY13

India Inc on Tuesday asked the Reserve Bank of India (RBI) to cut policy rates at its policy meeting for 2012-13, to propel sagging economic growth. RBI Governor D Subbarao met Finance Minister Pranab Mukherjee for a &ldquo;routine administrative&rdquo; purpose.

India Inc asks for cut in policy rate

Rural Electrification Corporation Ltd (REC) has signed a loan agreement worth euro 100 million (around Rs 700 crore) with the German government-owned development bank KfW.

REC bags Rs 700-cr loan from German bank 

ICRA has downgraded Oriental Bank of Commerce&rsquo;s bonds due to worsening asset quality and sustained pressure on profitability.

ICRA downgrades bonds of Oriental Bank of Commerce

Indian corporate balance sheets will continue to be in the red in 2012-13. Rating defaults and downgrades will stay elevated due to high commodity prices and liquidity pressures including costly credit, according to rating agency Crisil.

Corporate default rate at 10-year high in FY12: Crisil

The Reserve Bank of India (RBI) today tightened the reporting requirements under which banks will have to submit a monthly statement informing the central bank about the quantity of gold imported and mode of payment adopted.

RBI tightens reporting norms to monitor gold import

State Bank of India (SBI) today said it would cut lending rates on loans given to small and medium enterprises (SME) this month.

SBI to cut lending rates for SME

Bankers today said they expect a cut in the cash reserve ratio (CRR) in the Reserve Bank of India's (RBI) credit policy review later this month to ease the tight liquidity situation and boost growth.

Bankers expect RBI to cut CRR

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