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A file photo of ICICI Bank in Mumbai. Photo: Hemant Mishra/Mint

Wed, Feb 13 2013. 10 15 PM IST

ICICI Bank to pay Rs.1.75 lakh for customer’s loss due to fraud

Consumer forum helds ICICI Bank ‘grossly negligent’, directs the bank to return the money along with compensation

Abhijit Bhatlekar/Mint

Wed, Feb 13 2013. 07 30 PM IST

Small rate cuts do not help you save much

At least 13 banks have reduced interest rates by 25 bps, three have cut by 30 bps and one by 5 bps.

Ramesh Pathania/Mint

Tue, Feb 12 2013. 07 26 PM IST

What’s holding us back from using mobile banking?

Innovations have made cellphones into a personal banking tool, but there is still some way to go.

RBA also released a review into the governance of Securency and NPA by independent consultancy Cameron Ralph which cleared it of serious oversight issues. Photo: AFP

Tue, Feb 12 2013. 11 14 AM IST

Australia central bank sells scandal-hit note firm stake

The Reserve Bank of Australia sold its 50% holding in Securency

The central bank said deposit and lending rates would in forthcoming ensuing weeks in line with its 25 basis point policy rate cut in December—stimulating private sector activity. Photo: Reuters

Tue, Feb 12 2013. 09 28 AM IST

Sri Lanka freezes rates; sees deposit and lending rates easing

Sri Lanka’s central bank says monetary board was of the view that current monetary policy stance is appropriate

Shyamal Banerjee/Mint

Mon, Feb 11 2013. 09 11 PM IST

Clunky KYC norms keep investors away

KYC registration agencies need to coordinate better; more clarity needed on documents required.

MFIs, which give small loans to poor borrowers at 24-36%, saw collection rates falling to as low as 5-10% in the southern state and fresh funding dried up. Photo: Hemant Mishra/Mint

Mon, Feb 11 2013. 01 57 PM IST

Court upholds Andhra law on microfinance

High court asks state to review law in light of proposed national regulations to govern the sector

The bank announced a cut of 0.25% in its base rate to 10.25% with effect from 13 February. Photo: Priyanka Parashar/Mint

Mon, Feb 11 2013. 11 41 PM IST

Syndicate Bank cuts base rate by 0.25%

Syndicate Bank also revised downward its benchmark prime lending rate to 14.50%

IntelleGrow, promoted by investment banking services and advisory firm Intellectual Capital Advisory Services Pvt. Ltd (Intellecap) and supported by the Shell Foundation, has disbursed 20 loans totalling Rs15 crore to SMEs across India in areas such as wastewater recycling, clean-energy solutions, low-cost irrigation, rural healthcare, rural electrification and non-credit financial inclusion. Photo: Priyanka Parashar/Mint

Mon, Feb 11 2013. 04 58 PM IST

IntelleGrow raises Rs10 crore from MSDF

IntelleGrow provides viability-based debt financing to early-stage enterprises with a turnover of less than Rs50 crore

ADB President Haruhiko Kuroda declined to comment on Monday on whether he is being courted by Prime Minister Shinzo Abe to head up the BoJ, telling reporters he is happy in his current position. Photo: Pradeep Gaur/Mint

Mon, Feb 11 2013. 12 53 PM IST

ADB says BoJ inflation goal could be met in two years

Japan’s central bank took the correct step in adopting 2% inflation target, says ADB’s Haruhiko Kuroda

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