Concer-ned over the continuing inflationary pressures, a Reserve Bank report on Thursday said that the primary objective of the monetary policy would be to ensure price stability, amid expectations that the central bank would raise short-term rates in its July 27 monetary review.

With the first quarter of FY11 just over, markets have now started looking ahead to Q1 results. Technology major Infosys will be the first major player off the mark as usual, on July 13. There are some positive expectations from the Indian IT biggies this time, as results of US firms indicate that tech spending is recovering. The negative impact of the Eurozone crisis is expected to be limited.

Tamil Nadu- based Lakshmi Vilas Bank may go in for a qualified institutional placement of up to Rs 400 crore.
The board of the private sector bank has already passed the enabling resolution and a final approval at the AGM is awaited.

The RBI directive to banks, asking them not to honour cheques with overwriting, will come into effect from December 1 instead of the earlier scheduled date of July 1, the apex bank said in its latest circular.

The country’s largest lender State Bank of India on Wednesday extended its eight per cent concessional home loan scheme, which is 0.5 per cent higher than its minimum lending or base rate, for another three months till September 30.

Japan’s Sumitomo Mitsui Banking Corporation (SMBC) on Wednesday announced that it would invest Rs 1,366 crore for a 4.5 per cent stake in private sector lender Kotak Mahindra Bank.

If India’s cellular revolution is a boon to consumers, it has become a nightmare for operators that is likely to get worse before it gets better.
Consolidation in the 15-player market, which is the world’s second-largest with more than 600 million users and growing by 16 million a month, looks at least a year away unless rules change.

Ushering in a new interest rate regime that could make credit cheaper, several PSU banks on Tuesday announced benchmark base rates of up to 8 per cent, with SBI’s being the lowest at 7.5 per cent, for

The sessions court granted protection to Gautam Vora, a stockbroker, whose named cropped up after supermodel Viveka Babajee committed suicide on Friday. Suspecting that he would be arrested, Mr Vora, moved an anticipatory bail application (ABA) before the sessions court on Monday. However after recording the statements

Leading public sector banks such as the State Bank of India, Punjab National Bank and Bank of Baroda took the base rate plunge on Tuesday.
The lenders have announced base rates of 7.5-8 per cent per annum. Under the new norms set by the Reserve Bank, this is the lowest rate at which banks will lend.
The new rates will replace the earlier prime lending rate (PLR), which allowed corporates to get loans at extremely low levels. Under the base rate regime, retail and small borrowers will not be subsidizing large borrowers any longer.
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