MONEY & BANKING
FARM CREDIT
AP Assembly passes farmers' credit moratorium Bill
The State Assembly on Monday adopted the AP Farmers Agricultural Debts (Moratorium) Bill amid protest from the members of the opposition Telugu Desam Party (TDP). The legislation provides for declaration of a moratorium on farm-related debts in ...
More
Revamp package for farm loans applicable to pvt banks too
THE Finance Ministry has clarified that the restructuring package for agricultural loans made by scheduled commercial banks, announced on Friday, is applicable to both public and private sector banks. "The package is applicable to all members ...
More
INSIGHT
`Project'ing corruption in multilateral banks
WHEN ministers in India declare themselves stoutly in favour of economic reform, the sub-text is their enthusiasm for hefty loans from multilateral development banks — conditionalities and all — which come ...
More
FOREX
Rupee weaker by 25 paise against dollar
AN aggressive bout of dollar buying by oil majors and corporates coupled with arbitrage opportunities available in non-deliverable forwards led to 25 paise drop (0.5 per cent) in the domestic currency on Monday over its previous close. The ...
More
STOCKS
Banking stocks tank on negative psychology
THE public sector banking stocks on Monday saw significant selling pressure. The SBI counter, leader in the banking pack, breached the recent price bottom created on May 17. The BSE Bankex lost 1.07 per cent, SBI declined by 4.8 per cent and Bank ...
More
SOFTWARE
Fortune tool for Kuwait bank
HYDERABAD: Fortune Informatics Ltd, the Hyderabad-based software products company, has announced the company has deployed deployment of its k-Click ReportSuite, an electronic document management solution at the Commercial Bank of Kuwait. ...
More
CONSUMER FINANCE
L&T-John Deere, SBI sign pact for tractor finance
L&T-John Deere Private Ltd has signed a memorandum of understanding (MoU) with State Bank of India for tractor finance. "This joint financing scheme with the country's largest bank is part of our efforts to provide complete solutions to ...
More
LIFE INSURANCE
Om Kotak Mahindra launches single premium scheme
OM KOTAK Mahindra Life Insurance has launched `Kotak Easy Growth plan' (KEGP) - a single premium unit linked plan - designed to combine the benefits of insurance and investment. KEGP is being targeted at the high and middle income ...
More
GENERAL INSURANCE
Insurance companies seek tougher norms for drivers
THE spectre of a detariffed automobile insurance scenario is galvanising general insurance companies into lobbying with various State Governments across the country, insisting on tougher licensing norms for new drivers. With detariffing norms ...
More
DEBT MARKET
Bond prices crash by over a rupee
MUMBAI: Apprehensions of a hardening in interest rates led to a crash in bond price by around one rupee across maturities on Monday in the government securities market. The ten-year benchmark, 7.37 per cent 2014 paper closed at a yield ...
More
PRIVATE BANKS
RBI keen to ensure wide equity base in private banks
THE Reserve Bank of India is toying with the idea of making ownership of private banks more diversified. Currently, an Indian promoter can own up to 49 per cent stake in private banks. There is a school of thought in the central bank that ...
More
PUBLIC SECTOR BANKS
Indian Bank to raise Rs 300-cr tier-II capital — IPO ruled out for now
HAVING recorded a turnaround through three years of intense restructuring programme, Indian Bank has decided to augment its capital to risk assets ratio (CRAR). It will issue subordinated bonds under tier-II capital for raising Rs 300 crore ...
More
Allahabad Bank plans to revive subsidiary
ALLAHABAD Bank has no plans to put its subsidiary AllBank Finance Ltd into liquidation; instead various options to revive it are being examined. Mr O.N. Singh, CMD of Allahabad Bank, told shareholders at the bank's annual general meeting here ...
More
NON-PERFORMING ASSETS
Corpn Bank to pick 11 pc stake in ARC
CORPORATION Bank plans to pick up 11 per cent stake in an asset reconstruction company (ARC) being set up by ING Vysya Bank and Actis, a British private equity firm. A top banking industry source said Corporation Bank's board of directors has ...
More
IPOS
Syndicate Bank public issue likely in 2 months
SYNDICATE Bank's second public issue may hit the market in about two months.Two months is about what it could take for the "formalities" to be completed, the bank's Chairman and Managing Director, Mr Micheal Bastian, said here today. The public ...
More
NEW PRODUCTS & SERVICES
New BoB product for business customers
AIMED at meeting the needs of premium business customers, Bank of Baroda (BoB) has announced the test launch of the `Baroda Premium Current Account' (BPCA) here on Monday. Addressing a press conference, the BoB General Manager (South), Mr V.B. ...
More
Cross Currency Rates
Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line
|
RSS Feeds