Media reports indicate that Indian banks borrowed Rs 33,829 crore ($5.5 billion) from the Reserve Bank of India's marginal standing facility (MSF) window on October 22, lower than the Rs 451.26 crore on October 21.
Category: Infrastructure Finance
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YES Bank’s profit up 21.3%
Aided by higher interest income and growth in non-interest income, YES Bank's net profit for the quarter ended September increased 21.3 per cent to Rs 371.1 crore, against the corresponding period last year, the bank said on October 22.
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Govt to infuse Rs 14,000 cr capital into banks
To augment capital base of its public sector undertaking banks, the Union Finance Ministry on October 22 finalised a Rs 14,000-crore infusion plan, the Union government announced on October 22. The Union Finance Minister P Chidambaram said this after meeting the heads of PSU banks in Delhi.
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Maha’s 20,000 gram panchayats to get e-banking
The Maharashtra government has decided to start e-banking facilities in 20,000 state Gram Panchayats to curb financial irregularities by self-help groups and money lenders. In the state, there are around 28,000 gram panchayats. Out them, 20,000 would have the e-banking facility, the government said recently.
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NRI buys 5% stake in Dhanlaxmi Bank
In the Dhanlaxmi Bank, prominent non-resident Indian (NRI) businessman MA Yusuffali has acquired 4.99 per cent stake. He has also acquired close to five per cent stake each in Federal Bank and Catholic Syrian Bank (CSB) this year itself.
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Postal Dept cuts fund proposal to Rs 623 cr
To start banking operations, the Indian Department of Posts (DoP) had projected earlier the need of about Rs 1,900 crore. Now the DoP has has lowered the amount to about Rs 623 crore. The DoP has applied for a banking licence.
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Bank Indonesia to revive India operations
After a gap of nearly five years, Bank Internasional Indonesia is reviving its operations in India under its new promoter, the Malaysia-based Maybank group. Commercial banking operations of the bank will resume with a capital of $28 million from its single-branch office in Mumbai with an initial focus on corporate banking.
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Coastal to restructure its Rs 3,700-cr debt
Coastal Projects company is reported to have decided to go for restructuring of its loans worth Rs 3,700 crore. With Rs 500 crore, State Bank of India has the highest exposure to the Hyderabad-based construction company.
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AP to get 130 cyclone shelters
With financial assistance of the World Bank, a total of 130 cyclone shelters are being built in Andhra Pradesh, 17 of them in Visakhapatnam district. The National Disaster Management Authority (NDMA) announced this in Visakhapatnam on October 17 after visiting the cyclone-hit areas in the state.
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Muthoot to raise Rs 1,200 cr via listed NCDs
Through public non-convertible debentures (NCDs) Muthoot Finance will be raising around Rs 1,200 crore this year. The company will be issuing listed NCDs every month till the end of the financial year. The company's move follows the Reserve Bank of India restrictions on privately placed NCDs.