In its attempt to hasten financial inclusion across the country, the Reserve Bank of India (RBI) has decided to allow non-banking entities to set up automated teller machines (ATMs). The central bank has issued a draft circular on this issue.

Industry awaits clarity on white-label ATMs

Business Standard

ElectraCard Services (ECS), an electronic payments solution provider, has developed a new switch platform 'electra switch- iTx series' for ATM and point of sale (POS) network for financial institutions. iTx series is designed to support EMV, multiple institutions, time zones and language enabling users to consolidate existing platforms into single platform catering all needs of banking sector.

ECS develops 'electraswitch' for payments

State-owned Oriental Bank of Commerce (OBC) expects a loan growth rate of 19% this fiscal.

Oriental Bank of Commerce sees 19% loan growth

Press Trust of India

Rating agency Icra today said it expects the asset quality of banks to deteriorate further, given the rising proportion of restructured loans and fundamental issues in certain sectors.

Banks asset quality to worsen further: Icra

Banks are less likely to opt for take-out financing route to spread their risks in infrastructure financing in the next 12 months as risk outlook is negative for this segment now, banking experts said today.

Take-out financing by banks to remain subdued: experts

The euro zone&rsquo;s manufacturing sector contracted for the seventh straight month in February, with factories in the bloc&rsquo;s struggling indebted states facing some of the toughest conditions on record, a business survey showed on Thursday.

Euro zone stuck in mild recession, factory output declines 

Reuters 

India's exporters have begun receiving the first rupee payments from Iran, Indian government and trade sources said on Thursday, kicking off a mechanism to skirt Western sanctions which have made doing business with Tehran tougher.

Iran starts paying Indian exporters in rupees

Reserve Bank of India Deputy Governor HR Khan said on Friday that options were open on a further cut in the cash reserve ratio (CRR) for banks before the central bank's policy review on March 15, but a view had not yet been taken.

Options open for CRR cut: RBI

The Reserve Bank of India (RBI) on Thursday indicated it would prescribe higher capital adequacy norms than those proposed under the Basel III framework. This would help sustain the advantage of healthy financial profiles that Indian banks currently enjoy.

RBI for more Tier-I capital adequacy than Basel III norms

Foreign funds may increase their holdings of Indian equities as the nation&rsquo;s central bank joins policy makers globally in easing monetary policy to support economic growth, according to Deutsche Bank AG.

Global easing may drive fund flows to India, says Deutsche

UK-based Standard Chartered bank that spends around $1 billion annually for its tech requirements prefers to keep away from the hype cycle and the jargons that the technology industry comes up with every year.

We keep away from hype cycles and tech jargons: Standard Chartered

India&rsquo;s largest private sector lender, ICICI Bank, has increased service charges on savings bank accounts and has also imposed a fee on mobile transfers. It peer, HDFC Bank, had also introduced a new set of charges in January.

ICICI revises savings account charges

The Securities and Exchange Board of India (Sebi) has further tightened the guidelines for credit rating agencies (CRA). On Thursday, the capital markets regulator said Sebi-registered CRAs that rate securities not regulated by it also need to be governed through the same stringent norms as those applicable for rating of securities issued through public and rights issues.

Uniform rating norms mooted for all securities

According to market participants, lenders, including IDBI Bank, UCO Bank and Central Bank of India, have raised funds for three months through CDs at rates ranging between 11.1 per cent and 11.15 per cent.

CD rates cross 11% in a first since 2008 repo drawing at new high

The Reserve Bank of India (RBI) on Thursday revised the supervisory action framework for urban co-operative banks, saying in case of financial woes, banks must be the first to take corrective steps.

RBI revises supervisory framework for urban co-operative banks

Public issue of non-convertible debentures of Muthoot Finance Limited will open from March 2. The issue is of a face value of Rs 1,000 each, aggregating up to Rs 250 crore with an option to retain over subscription up to Rs 250 crore, aggregating to a total of Rs 500 crore. The NCD issue with four investment options offering an effective yield of up to 13.43 per cent per annum closes on March 17. The minimum application is for five NCDs (Rs 5,000) and in multiples, a company press release said.

Muthoot NCD public issue opens today 

Foreign exchange reserves grew by $1.61 billion to $296.05 billion for the second consecutive week on the back of a rise in the core foreign currency assets.

Forex reserves up by $1.61 billion

Cosmos Bank, a co-operative bank, on Friday inaugurated its first branch in Chennai. The branch was inaugurated by S Karuppasamy, executive director, Reserve Bank of India, and Vijay Pingale, managing director of Co-optex, according to a release on Friday.

Cosmos Bank opens Chennai branch

Ambiguity over the ownership structure and issues related to governance in some of the old-generation private banks have raised the hackles of the Reserve Bank of India (RBI), with the regulator now questioning some of these lenders on their transactions with a few companies. For instance, the central bank has enquired about Karur Vysya Bank&rsquo;s dealings with a large infrastructure company in South India.

Old-generation pvt banks come in RBI's line of fire

The government on Friday indicated the process of divesting its stake in Hindustan Aeronautics Limited (HAL) was underway.

Centre: Plans afoot for HAL disinvestment

The Reserve Bank of India (RBI) has allowed foreign institutional investors (FIIs) to invest in primary issuances of companies&rsquo; non-convertible debentures (NCDs), provided these papers are scheduled to be listed on the stock exchanges within 15 days of being issued.

Now, FIIs can invest in NCDs

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