Top Banking news of the day

Round up of the major headlines that dominated the Banking sector, nationally and internationally

Country's third largest private lender Axis Bank introduced a new slab for its home loan borrowers with offers starting at 9.60 per cent onward. 

The International Monetary Fund (IMF) marginally lowered its 2015-16 growth forecast for India, which will still remain the world’s fastest growing major economy, and expressed optimism about its future prospects.

KBC Asset Management of Belgium is exiting the Indian asset management business by selling its 49% stake in mutual fund joint venture Union KBC Asset Management Company to Union Bank of India. 

Standard Chartered Bank, one of the largest and oldest foreign lenders in India, will seek permission from the Reserve Bank of India next year to set up an Indian subsidary, which will come up two years later 

Diversified non-bank lender Bajaj Finance today said it has received regulatory approvals to set up a housing finance company. 

IDBI Bank and Bank of Maharashtra are the latest among public sector banks to get capital support from the government. While IDBI Bank issued 29.6 crore preferential shares at a rate of Rs 75.28 per share aggregating Rs 2,229 crore, Bank of Maharashtra issued 10.51 crore share at Rs 33.47 per share aggregating Rs 394 crore. 

The country's largest lender State Bank of India (SBI) and the German development bank KfW today concluded a 15 year loan worth $300 million loan facility to support rural and micro-enterprise lending in India. 

State-owned Bank of Baroda has detected Rs 350 crore bill discounting irregularity and initiated an investigation into it. 

ICICI Bank, India's largest private sector bank reduced its home loan rate by 25 basis points, following rivals State Bank of India (SBI) and Housing Development Finance Corp Ltd (HDFC). one basis point is 0.01 percentage point.