Chinese authorities have sentenced over 1,400 people to prison terms of at least 5 years for involvement in underground lending in crackdown on financing practice widely used by China`s entrepreneurs.
China`s premier on Sunday rejected foreign pressure to let its currency rise and complained that trade protectionism by other governments was holding back the country`s development.
The government on Friday ruled out increasing the amount reserved for priority sector lending from present 40 percent saying the banks have to maintain statutory reserves.
President Barack Obama has prodded large US banks to boost lending to Main Street and cautiously welcomed news of an unexpected drop in the unemployment rate.
The World Bank is expected to
increase its lending to India by over three times to USD 7
billion in 2009-10 compared to the average USD 2.3 billion for
the last four financial years.
The International Monetary Fund announced on Tuesday that a lending scheme to aid countries hit hard by the financial crisis had grown to 600 billion dollars.
UK mortgage lending rose significantly in July for the second straight month but the market is likely to remain subdued for some time, the Council of Mortgage Lenders said on Monday.
India`s second largest lender, ICICI Bank, has seen growth returning in its home and auto loans portfolios in the second quarter on the back of improving sentiments in the credit market, its chief said.
Day in Pics: 20th September
Showbiz World - September 20, 2014
iPhone6 fever grips the world