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Top Stories- July 2007

State Bank of India (SBI) has clocked a 78.6 per cent jump in net profit for the first quarter ended June 30, 2007 at Rs. 1,425.81 crore...Read more

IRDA has announced guidelines for closure of liaison offices established in India by insurance companies registered outside India...Read more

Personal loan pools in India have shown a higher delinquency compared to other asset categories, says Fitch Ratings...Read more

China upgraded by Moody's from A2 to A1 on strong strong external payments position and economic reform progress...Read more

Turbulence in financial markets has not reached systemic levels of intensity, but there are still serious causes for concern, says Moody's...Read more

Innovation is key to Indian IT-ITES sector for tapping additional revenue potential of US$ 50 billion, according to Nasscom-BCG...Read more

Almost 80% of respondents in PRMIA survey believe that Basel II implementation will make the banking system more stable...Read more

Industrial and Commercial Bank of China has become the world's largest bank by market capitalisation, overtaking Citigroup...Read more

A Technical Group constituted by Reserve Bank of India has proposed model law for governing money lending in the country...Read more

A PFRDA committee has selected State Bank of India (SBI), Life Insurance Corporation (LIC) and UTI Asset Management Company (UTIAMC) to be the first sponsors of pension funds in India...Read more

Citigroup and Bank of America have announced improved second-quarter profits...Read more

CII 'State of the Economy' for the last quarter-Q4, shows that the impressive performance of the Corporate sector continues and is led by the services sector...Read more

The Indian IT-ITES industry is presently creating jobs for over 7.5 million people both directly and indirectly, according to nasscom...Read more

Bank of Baroda (BoB), as part of centenary year 2007-08, has ambitious plans for expansion abroad ...Read more

The People's Bank of China has announced an increase of 27 basis points in commercial bank benchmark one-year deposit and lending rates...Read more

RBI has liberalised the procedure for SEBI approved clearing corporations for opening of demat accounts and maintenance of collaterals...Read more

This is the fifth time that India has topped the Global Consumer Confidence Index conducted by the Nielsen Company...Read more

Small savings have experienced a decline of 21 per cent during 2006-07,as commercial banks now offer higher interest rates on the deposits, according to a study...Read ITES_BPO related stories

Central bankers have called for more action to reduce foreign exchange settlement risk ...Read more

RBI has allowed Urban Cooperative Banks (UCBs) to act as agents/sub-agents under Money Transfer Service Schemes...Read more

HSBC survey shows that people in developing economies exhibit the greatest concern, commitment and optimism towards the problem of climate change...Read more

Asia/Pacific (Excluding Japan) Public Sector IT spending to exceed US$32 billion by 2011, according to Government Insights, an IDC company...Read IT related news

Indian Government has announced relief on rupee export credit interest rates to exporters from nine sectors...Read more

Virtualization services market will grow from $5.5 billion in 2006 to $11.7 billion by 2011, according to IDC...Read more

The European Union Solvency II directive proposal signals progress in insurance supervision, according to IAIS...Read more

Fitch has upgraded the Individual rating of Bank of India (BOI) to 'C/D' from 'D'. The Support rating is affirmed at '2'...Read more

ITES-BPO segment grew by 33.5% per cent contributing USD 8.4 billion to the total software and services exports of USD 31.4 billion...Read ITES_BPO related stories

SEBI has modified the listing agreement to rationalize process and formats for submission of financial results to stock exchanges...Read more

SEBI has withdrawn recognition granted to Saurashtra Kutch Stock Exchange with immediate effect...Read more

Moody's maintains stable or stable to positive outlooks for the 16 banking systems which it rates in Asia Pacific...Read more

World insurance premium growth in 2006 accelerated further, according to sigma study...Read insurance related stories

Captives BPOs of foreign firms operating in India will not be liable to be taxed, rules Supreme Court...Read more

The cost of fighting money laundering has risen dramatically for banks across the world, according to a global study by KPMG...Read more

Oriental Insurance Company has reported a 75 per cent jump in net profit to Rs 497.27 crore for 2006-07...Read more

Mobile Industry value added services (VAS) is poised to grow by over 65% and generate Rs 8200 crore by march 2008...Read more

Asian economies and markets have recovered their growth and stability in 10 years since the financial crisis, says Moody's Investors Service...Read more

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