MONEY & BANKING
FOREX
Forex reserves rise by $587 m
THE country's forex kitty has been enhanced by $587 million for the week ended June 18, after registering a decline for the previous two consecutive weeks. The total reserves as on this date, grew to $119.932 billion against $119.345 billion ...
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NBFCS
Plea to extend tax sops for income deferral in bad assets to NBFCs
THE Finance Industry Development Council (FIDC), theself-regulatory organisation for non-banking financial companies, in a recent pre-Budget memorandum to the Union Finance Minister, Mr P. Chidambaram, has sought extension of tax benefits for ...
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RBI & OTHER CENTRAL BANKS
RBI Governor urges caution over capital account liberalisation
CAPITAL account liberalisation is a process that has to be managed keeping in view the elasticities in the economy, and vulnerabilities or potential for shocks, according to Dr Y.V. Reddy, Governor, Reserve Bank of India. Illustrating these ...
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RBI asks banks to maintain capital charge for market risks
THE Reserve Bank of India has decided to assign explicit capital charge for market risks on the lines of the Basel Committee guidelines. Banks should maintain capital charge for market risks in a phased manner over a two-year period. Capital ...
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PRIVATE BANKS
RBI tightens norms for private bank directors' appointments
THE Reserve Bank of India has tightened norms for appointment of directors on the boards of private sector banks through a process of internal checks and balances. In a circular addressed to the CMDs and CEOs of private sector banks, RBI has ...
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HDFC Bank to borrow Rs 5,000 cr
PUBLIC SECTOR BANKS
UCO Bank pays dividend to Govt
FINANCIAL INSTITUTIONS
Exim Bank to hike stake in Global Trade Finance
EXPORT-Import Bank of India (Exim Bank) has planned to upscale the operations of its nearly three-year-old export factoring joint venture Global Trade Finance Private Ltd (GTF). GTF, a non-recourse forfaiting and export factoring outfit, is ...
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Assocham moots setting up of Telecom Finance Corpn
THE Associated Chambers of Commerce and Industry of India (Assocham) has suggested the Government set up a Telecom Finance Corporation to cater to the requirements of the telecom industry, particularly the domestic telecom equipment ...
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CREDIT MARKET
Union Bank launches retail finance boutique
UNION Bank of India inaugurated its retail finance boutique at Ghatkopar (East) in Mumbai. The retail finance boutique, a branch within Union Bank branch, aims to cater to consumer loans, housing loans, education loans, vehicle loans and trade ...
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Bank credit up Rs 2,529 crore
GROSS bank credit in the system increased by Rs 2,529 crore for the fortnight ended June 11. This includes food credit, which stood at Rs 43,161 crore, and non-food credit at Rs 8,24,073 crore. Loans and advances provided by RBI to the State ...
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Cross Currency Rates
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