India

Government-controlled Corporation Bank plans to establish 400 overseas branches in just two years.

HDFC Bank's net profit grew 31% in the third quarter to Rs 1,430 crore despite pressure on margins in a tough macroeconomic environment.

Punjab National Bank revealed that its total business reached Rs 6.21 lakh crore at the end of the third quarter of fiscal 2011-12.

Kotak Mahindra Bank posted a 46.96% increase in net profit with Rs 276 crore for the quarter ended December 31, 2011.

Bank of Ceylon will expand its Premier Banking network.

The lenders exposure to the MFI sector has a significant amount for micro lenders serving small borrowers.

IDBI Bank Ltd. plans to raise $200 million by selling bonds and is seeking partially guaranteed ADB loan.

The nearly 10 crore farmers who hold kisan credit cards will soon be able to use their card as a deposit account and a debit card. This will help the government scale up its financial inclusion plan quickly without relying on bank accounts alone. KCC, which has been instrumental in faster delivery of credit to farmers, is like an overdraft account with a bank that has to be operated through a cheque book or withdrawal slip. The card is used only to store the details of the account. "We are working on revamping the current concept of KCC. It is aimed at providing more financial freedom to farmers who can use this at various point of sales," said a finance ministry official, requesting anonymity. The revamped card will have features of both credit card and deposit account. "This would reduce the need for multiple accounts in the bank," said the official. Banks will give interest credit to farmers with credit balances in KCCs to encourage them to remit farm sale proceeds into their KCC account. "Today, farmers avail the full credit amount in one go and end up paying higher interest amount. If it becomes a debit card, they will use it as and when required and pay substantially lower interest burden," said UC Sarangi, former chairman of Nabard, or the National Bank for Agricultural and Rural Development. For the source of this story, click here.

The technology is equipped with sophisticated features to ease clients’ trading, transaction and market information gathering.

UCO Bank will open the auction for sale of Rs.3 to 4 billion non-performing assets next week.

ICICI Bank launched the ICICI Bank Rubyx – India’s first Platinum Credit Card with dual card benefits.

The Reserve Bank of India rejected proposals by several banks to launch wholly-owned subsidiaries.

Opening account in the social networking site is one of its strategies to continue providing "superior banking services.

The Indian government may sue HSBC for persuading their executives to stash undeclared money in a Geneva branch.

According to Bloomberg, StanChart ranks third in Indian mergers advisory this year.

Villagers only need to produce a certificate from the headman along with photographs for opening of accounts.