Banking & Finance - Banking News and Financial News

Paypal suspends payment transactions in India

Online payment service provider Paypal has said it suspended certain types of payment transaction in India.

India can't afford to be lax on inflation: RBI

India can’t affordto be lax about fighting inflation as the nation seeks to slow price gains to 5 per cent or less, central bank Deputy Governor K C Chakrabarty said on Sunday

‘Indian banks ahead of BRIC nations’

Indian banks much ahead of the BRIC nations and developed countries.

Sidbi growth on par with large banks: D&B

Small Industrial Development Bank of India’s performance was on par with the leading banking and refinancing institutions in India in terms of profitability and efficiency, according to a study conducted by Dun & Bradstreet (India).

ICG acquires significant stake in CPA Global

Intermediate Capital Group (ICG), announces that it has acquired a significant minority stake in legal services firm CPA Global, investing alongside the company’s senior management team and the founding shareholders.

WB pegs India growth at 7.5% for FY11

The World Bank added to the rising chorus of expectations of growth rates about the Indian economy, post the global economic slowdown.

PSBs plan to rev up their global portfolios

At a time when some of the private sector banks have reported dip in profit owing to drop in repayments from the overseas loan portfolio...

Morgan Stanley plans to hire several traders

The US-based financial services major Morgan Stanley plans to hire several hundred traders over the next few years.

Bankers see no reason for hike in CRR

Retail borrowers can breathe easy as bankers said immediate hike in rates is unlikely.

RBI hikes CRR by 75 bps to 5.75 pct

The 75-bps hike in CRR is expected to suck out at least Rs 36,000 cr from the system.

Industry to gain further momentum: RBI survey

The industrial outlook survey of the Reserve Bank of India conducted during October-December 2009 quarter has shown further improvement in the sentiments of the manufacturing sector, in continuation of the optimism seen during the previous quarter.

Central Bank of India Q3 dips 13.25 pct to Rs 306.44 cr

Public Sector lender Central Bank of India said its net profit declined by 13.25 per cent to Rs 306.44 crore for the third quarter ended December 31.

Canara Bank Q3 profit zooms 50 pct

Canara Bank reported a 50 pct jump in net profit to Rs 1,052.58 crore for the third quarter.

Dena Bank Q3 net dips 4 pct to Rs 134 cr

State-run Dena Bank said its net profit dipped by 4 per cent to Rs 134.52 crore for the quarter ended December 31.

Re slips to 3-wk low as $ climbs

The rupee touched a three-week low of 46.43 against the dollar on Wednesday, as stock markets fell and the dollar strengthened against other currencies.

Bank investments in MFs fall 75%

Commercial banks pared their investment in mutual funds by as much as 75% in early January from their peak levels last December. Their investment in mutual funds fell to Rs 42,428 crore as on January 1, 2010, from Rs 1,69,236 crore as on December 4, 2009—a 75% dip, according to the Reserve Bank of India data.

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