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Top Stories |
Restructured loans push up NPAs of public sector banks
Public sector banks, barring SBI, continued to witness a jump in their bad loans in the latest March quarter, 2011-12. Restructured assets contributed to this jump.
Gross non-performing loans (NPAs) for public sector banks other than SBI rose by 10.5 per cent in the three months to March 2012.
Business correspondents' pay likely to be raised
The Finance Ministry has recommended higher remuneration for business correspondents of banks who facilitate financial inclusion.
According to bankers, the minimum basic remuneration for BCs will now be Rs 2,500, besides fees for every transaction they carry out.
First-year premium of life insurers down 2.5% in April
The first-year premium underwritten by life insurance companies decreased 2.5 per cent in April 2012 compared to the year-ago period.
According to the monthly business figures released by the Insurance Regulatory and Development Authority on Tuesday, 22nd May 2012, the total first-year premium stood at Rs 4,936 crore compared with Rs 5,063 crore collected in the same month last year, 2011.
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Indian Financial Institutions |
IRDA finds ‘massive problems' in SKS Micro's insurance ops
Troubles continue to pile up for SKS Microfinance Ltd. The insurance regulator has found irregularities in the micro-finance institution's handling of insurance of its clients.
“We have found massive problems in insurance operations of SKS Microfinance,'' Mr J. Hari Narayan, Chairman, Insurance Regulatory and Development Authority, told here, in Hyderabad, on Tuesday, 22nd May 2012.
Cauvery Kalpatharu Grameena Bank's business rises 19%
Cauvery Kalpatharu Grameena Bank, a regional rural bank sponsored by State Bank of Mysore, recorded a 19 per cent growth in business during 2011-12. A press release from the bank said that the total business during the last fiscal, 2011-12, stood at Rs 4,645.03 crore, with deposits at Rs 2,602.96 crore and advances at Rs 2,042.07 crore.
Bank unions forum wants 9th bipartite issues to be resolved
The United Forum of Bank Unions (UFBU) wants pending residual issues of 9th bipartite to be resolved before the commencement to the 10th bipartite negotiations.
The issues are compassionate appointment scheme, improvements to staff loans, regulated working hours and five-day week.
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Muthoot Finance's new branch
Muthoot Finance Limited has inaugurated a new branch in Ponnurunni, Ernakulam as part of the company's expansion plans. Mr Tonny Chammany, Mayor, Kochi Corporation, inaugurated the branch. Mr George Alexander Muthoot, Managing Director, Muthoot Finance, said that the opening of the new branch office is a part of our geographic expansion strategy which will boost our business in the region enabling us to get closer with the customers.
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23.5.2012
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| Currency |
Rate (Rs.) |
Change |
| USD |
55.93 |
-1.05 |
| Euro |
70.88 |
-0.67 |
| GBP |
88.15 |
-1.31 |
| Yen (100) |
70.32 |
-1.24 |
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23.5.2012 16.00
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Index |
Change |
| NIFTY |
4835.65 |
-24.85 |
| SENSEX |
15948.10 |
-78.31 |
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Market Updates |
Sensex ends 78 points down
Weak global markets and a sliding rupee rendered the mood bearish on the Indian bourses, took a toll of several front line stocks and pushed the benchmark indices Sensex and Nifty down to a negative close on Wednesday.
There was a fairly sharp recovery past noon, but the market faltered swiftly back into negative territory as stocks failed to find support at higher levels.
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