India

The lender is the first of China’s Big Four to secure license from India’s central bank.

The banker will hold post from Sep 01, 2011 tol May 31, 2014.

Yet the lender denied issuing a proposal to raise $5bn via offshore loans by December.

The lender would further concentrate on enhancing its presence in the corporate, commercial and wealth management businesses in Singapore.

‘Cent Double’ scheme will give an annualised yield of 13.33%, valid between September 1 and December 31.

The move comes at a time when several MSME units are struggling to service loans.

RBI may also enforce new lenders to meet a minimum capital requirement of $109mn.

The proceeds to be used to fund overseas expansion.

India was not in favour of fund raising via rights issue since it would entail additional expenditure for the government.

Money Expo 2011 will be held in Kathmandu from Sept. 12 to 14 as the first ever event in Nepal dedicated to promoting investment opportunities and wealth protection strategies. The three-dayexpo will have more than 100 stalls, including that of financial sector regulators, stock exchange, commodities exchanges, banks and financial institutions, investment and remittance companies, among others, said the organizers at a press meeting. More than 50,000 people are expected to visit the expo, reports Xinhua News. "The expo also aims to strengthen business-networking for financial sector players and their constituents by providing opportunity to speak directly with leading experts," said the organizers. The expo will feature seminars and lectures from financial experts, regulators, analysts and successful investors.

Slowdown in sectors such as real estate fuelled more concerns of a potential further rise in asset quality issues.

Non-resident Indians can now easily track exchange rates, as well as track their money transfer request via their mobile phones.

State Bank of India can continue its growth this financial year even if the Indian government's proposed capital infusion doesn't take place, a top executive said Tuesday.

Muthoot Group will open 50 branches in West Bengal by March 2012.

India Infrastructure Finance will take over 6 billion rupees worth of loans from state-owned lender,IDBI Bank.

ICICI Bank has been asked to pay a fine and return the amount deducted from a customer.