The rupee came under further pressure on Monday to hit a two-month low on a spurt in month-end demand from importers &mdash; especially oil companies &mdash; for the greenback besides a dip in stock markets.

Rupee weakens further on FII pullout

Business Standard

The restrictions imposed on gold loan operations of non-banking finance companies (NBFC) have raised the hackles of these firms as they feel the lack of uniformity in guidelines will help banks gain market share.

NBFCs see red on loan norms

The Securities and Exchange Board of India (Sebi) on Monday exempted the government of India from making an open offer to minority shareholders of IDBI Bank, a mandatory requirement unless given legal exemption, since a proposed capital infusion would breach the creeping acquisition limit of five per cent.

Sebi exempts govt from making open offer to IDBI Bank minority shareholders

Non-banking finance companies (NBFC) will now have to send &quot;adequate prior notice&quot; to their gold loan borrowers, if they plan to auction the jewellery kept as collateral, due to non-repayment of loans, according to the Reserve Bank of India's (RBI) guidelines on the fair practices code for the sector released on Monday.

RBI tells NBFCs to notify clients before auctioning jewellery 

ICICI Bank, India&rsquo;s largest private sector bank, asked ailing Kingfisher Airlines for more security on its Rs 600-crore loan, after the airline&rsquo;s stock hit an all-time low on Monday.

ICICI Bank seeks more security on loans to Kingfisher

Tata Capital on Monday said it would set up a private investment banking business in Singapore in two years. &quot;Licencing process is to be started soon and the business will be in operation in two years,&quot; Tata Capital Managing Director and chief executive Praveen P Kadle said here. He said the broad plan would be to establish a strong private equity and fund management as well as wealth management and securities brokerages. &quot;This will be our first private banking. In two years, this will surely happen,&quot; Kadle said after signing a memorandum of understanding (MoU) with Singapore's Economic Development Board (EDB) to help Indian companies to internationalise their businesses through Singapore.

Tata Cap's pvt investment banking biz in Singapore

Press Trust of India

Shriram Transport Finance Company (STFC) today said its Managing Director R Sridhar will be stepping down to take over as MD and Chief Executive of the group holding company. Sridhar, who has been with STFC since 1985 and has risen through the ranks to become the MD, will step down with effect from March 31 and join Sriram Capital (SCL), a statement said. He has been serving as the managing director of STFC since 2000 and the company grew under his leadership to become the largest vehicle financing company in the country.

Sridhar to quit Shriram Transport Finance 

State-owned IDBI Bank on Monday said the government has decided to infuse Rs 810 crore in the bank by way of preferential allotment of shares. The government of India (GoI), in a letter dated March 23, 2012, had decided to infuse capital funds to the tune of Rs 810 crore by way of preferential allotment of equity, IDBI Bank said in filing on the BSE. Last month, the bank decided to sell 5 per cent stake to Life Insurance Corporation (LIC) on preferential basis. LIC has in-principle given approval for subscribing a maximum of up to 5 per cent of the pre-issue paid up equity capital of the bank, it had said.

IDBI Bank to get Rs 810-cr capital infusion 

RBI has asked banks to avoid offering sharply different rates on deposits with similar maturities, saying that something is wrong with lenders if their retail and bulk deposit rates vary too much.

Avoid sharp difference in rates on similar term deposits: RBI

Public sector banks posted 3.06% dip in net profit at Rs 31,688 crore in the December quarter of this fiscal due to higher provisioning and exposure to sectors such as aviation and telecom, Parliament was informed today.

PSU banks' Q3 net profit fell 3%: govt

In a move that would help a large number of home loan customers to reduce their interest burden, the country's largest lender State Bank of India (SBI) has decided to allow them to reprice their existing loans at lower rates.

SBI lets home-loan customers to switch to lower rates

The country's largest lender State Bank of India (SBI) today raised fixed deposit rates on select maturities by up to 1%, amid tight liquidity situation.

SBI hikes fixed deposit rates by up to 1%

Public sector lender Central Bank of India (CBI) is hopeful of maintaining its Net Interest Margin (NIM) at the current level of around 2.53% in the fourth quarter, a top bank official said.

Central Bank hopeful of maintaining NIM at 2.53% in Q4

Setting aside the widespread speculation that a foreign player would buy out Fidelity&rsquo;s India business, L&amp;T Finance, a domestic player, on Tuesday inked the deal for an undisclosed amount. Company officials indicated the deal value would around Rs 550-600 crore.

L&T Finance buys out Fidelity's India MF arm

The Asian Development Bank (ADB) and the Bangalore Metro Rail Corporation Limited (BMRCL) on Tuesday signed a Facility Agreement for a $250 million loan through ADB&rsquo;s non-sovereign lending window that signaled the multilateral lending agency&rsquo;s first foray into the mass rapid public transport sector in South-Asia.

Bangalore Metro gets $250 mn ADB loan

Public sector banks&rsquo; executives said banks had taken a hit due to the steep fall in the value of the shares. Banks had made provisions in their books for the fall in Kingfisher stock price (it has fallen by a fourth to Rs 16 as of on Tuesday).

Banks to retain Kingfisher stocks

(This article has been modified; please see the correction at the end.

SBI hikes retail deposit rates 25-100 bps

The government will borrow Rs 3.7 lakh crore from the market in the first half of 2012-13 through the sale of dated securities. This amounts to 65 per cent of the borrowing plan for the new financial year starting next month.

Govt to borrow Rs 3.7 lakh crore in H1

Launching its operations here on Tuesday, Anil Kothuri, head (retail finance), Edelweiss Capital, and chief executive of Edelweiss Housing Finance, said, &ldquo;Hyderabad is one of the fastest-growing metros in India.

Edelweiss Housing eyes Rs 300-cr loan book from Hyderabad

The government on Tuesday said it was pinning hopes on an increase in interest rates on small savings schemes from next month and an expected cut in policy rates by the Reserve Bank of India (RBI). These, the finance ministry expects, will attract depositors back into the schemes and help the government borrow less than the budget estimates of Rs 5.69 lakh-crore in the current financial year.

Cut in borrowings hinges on small savings, RBI stance: Govt

Be prepared to pay more to insure your vehicle.

Irda hikes third-party motor premium rates by 5-20% 

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