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Money & Banking
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Events
Rear view
November 9
Falling interest rates hit corporate `welfare' loans.
PSU general insurers profits may come under pressure: ICRA.
November 8
SBI drops interest rates on deposits by 25 to 50 basis points.
Foreign banks allowed to remit net profits on quarterly basis now, instead of annual basis hitherto.
Banks tier-II bond plans hit SEBI roadblock.
Four private banks can accept indirect taxes.
Pvt insurers improve market share in first half.
Dhanalakshmi Bank takes possession of Pentasoft property under SARFAESI Act.
Public sector banks stepping up rural credit disbursement initiatives.
Crisil sees rupee slipping by year-end to 45.46/$.
SBI promotes 12 GMs to post of Chief General Managers.
Srei plans Rs100-crore venture capital fund for SME core projects.
ICICI Bank gets aggressive on recovery mode. Sale of 174 crore worth assets of Chennai-based Bellary Steel & Alloys on the cards.
Mediclaims top complaints with insurance ombudsman.
November 7
Overseas lenders serve notice on Govt, claiming over $171 million besides costs and expenses from Dabhol project.
ICICI Bank gets UK licence, opens arm in London, forms partnership with Lloyds TSB plc.
Banks gain in rating from Govt ownership: Crisil.
HFCs prefer securitising principal receivables.
Lord Krishna Bank keen to get strategic investors.
YES Bank ties up funding.
BoE hikes rates by 25 basis points to 3.75 pc.
RBI group favours micro-finance fund.
Companies rush to list bonds on NSE as RBI clamps down on unlisted bonds, firms seek short-term bridge finance.
RBI gives Stockinvest scheme the burial.
PSU non-life companies to cut flab soon.
Bank of Maharashtra targets Rs 300 crore net by March 2004.
Centurion acquisition deal hits FIPB block.
BankMuscat-Sabre plan rejected for breaching FDI limit
November 6
Power Finance Corporation plans to float Rs 500 crore venture capital fund.
Royal Sundaram ties up with ING Vysya Financial Services for distribution.
Australian Central Bank raises benchmark interest rate, first time in 17 months.
RBI trims rates on RIDF deposits, loans.
Bajaj Allianz premium income in H1 touches Rs 218 crore.
ICICI Prudential Life premium income up 170 pc at Rs 184 crore in H1.
Karur Vysya, UTI Bank pioneer debit card tie-up.
BoI chief, M. Venugopalan, outlines growth strategy.
Sundaram Home Finance taps IFC for Rs 50 crore.
RBI sounds alert over "fishy deals" in PF sector.
Federal Bank shares touch 52-week high at Rs 194.
Renewed speculation of ICICI Bank planning to sell its equity stake.
November 5
Hedging of foreign currency loans not mandatory: Y.V. Reddy.
Financial institutions should invest only in rated securities: RBI.
We need a system to monitor key financial intermediaries — RBI Governor.
Canara Bank launches debit card for its customers.
Birla Sun eyes Rs 75 crore via bancassurance.
IRDA finalising code prescribing maximum and minimum returns that can be offered under each product segment.
Finance Ministry to clear IDBI's $500-million ECBs soon.
November 4
Key interest rates left unchanged in Credit Policy — Dr Reddy relies on continuity, sees "no need to tinker."
StanChart predicts dollar at Rs 43.5 in one year
IBA constitutes sub-group to operationalise a benchmark PLR.
November 3
IFCI scouting for strategic partner; may enter pension funds.
More banks queue up to enrol in corporate debt restructuring system.
MonsterIndia.com to handle UTI Bank recruitments.
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Rear view
Prudential Coop Bank meet
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