India Gets New Islamic Equity Fund

India's 175 million Muslims are unable to use Islamic banks because of laws requiring banks to charge interest, which is forbidden in Islam.


Bank staff begin 2-day

Bank Staff Begin 2-Day Strike Against Reforms

Bank employees in India began a two-day strike on Wednesday to protest against proposed reforms that would ease mergers and allow more private capital, including foreign investment, in the banking sector.
A lone Kingfisher Airlines customer waits in a check-in queue at Mumbai's domestic airport

India's Kingfisher Airlines Reports 147% Increase In Losses

India's struggling private air carrier Kingfisher Airlines Saturday reported a 147 percent increase in its loss to 6.51 billion rupees for the quarter ending June 30, compared with a loss of 2.64 billion in the same period a year ago.
A man leaves an automated teller machine (ATM) facility of ICICI bank in Kochi

ICICI Bank Q1 Profit Jumps 36 Percent, Beats Forecast

ICICI Bank(ICBK.NS), India's top private lender, posted on Friday a 36.3 percent jump in quarterly profit, its strongest growth in more than a year, helped by robust loan growth, high fee income and better asset quality.
Kingfisher Airlines

Lenders Ask Kingfisher To Sell Assets

A consortium of lenders of the cash-strapped Kingfisher Airlines Thursday asked the Indian private carrier to sell its properties in Goa and Mumbai and to come up with concrete steps to improve its operations.