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After almost two years of planning, the National Payments Corporation has at last finalised the proposed unique India Card which once commercially launched would be an domestic alternative to the global real-time payment processing firms like

Lakshmi Vilas Bank has announced to implement ‘Financial Inclusion’ in Tamil Nadu through an extension of its banking services by appointing ‘Business Correspondents’ across the state.

The German lender had narrowed in on Axis Bank and IndusInd Bank from the initial 11 bidders and its credit cards business has 150,000 active cards and outstanding of 2-2.5 billion rupees, the report said citing unidentified sources.

According to the analysts another round of rate hikes are to be expected in the next 4-6 weeks because of the liquidity crunch. Auto financiers like ICICI and Kotak Mahindra Prime plan to increase rates by 25 bps to 50 bps (100 bps = 1%).

The car loans in the country are all set to get costlier as lenders in India are likely to increase the interest rates.

Consumer finance and vehicle finance portfolios of retail non-banking finance companies (NBFCs), which grew 40 % in 2010-11, are likely to be equal to the total non-mortgage retail lending portfolio of banks

As the Reserve Bank of India (RBI) announced another round of rate increases, there is a set of people who are cringing at the rising interest rates. Not the borrowers, though this is probably the only scenario that strikes us with

IDBI Bank plans to enlarge its lending to mid-size companies by 15 to 20 % annually in the medium term to grab higher business share and support bottom line.

Banks have urged the Reserve Bank of India (RBI) against withdrawing the priority sector status for loans extended to microfinance institutions (MFIs).

The domestic markets, too, encountered a choppy week in the face of rising concerns over the detrimental effect the damage in Japan would have on an already doubtful global economic revival.