RBI & OTHER CENTRAL BANKS
RBI fiat on property evaluation
To ensure a system for realistic valuation of fixed assets owned by banks or mortgaged to banks, the Reserve Bank of India has asked them to have a board-approved policy for valuation of properties. In a notification issued on Thursday, the RBI ... More

PRIVATE BANKS
Centurion pref issue to venture fund
Centurion Bank of Punjab has received RBI approval for a preferential issue to India Advantage Value Fund V (managed by ICICI Venture Funds Management Company Ltd). The bank plans to issue 7.5-crore equity shares at a price of Rs 24.54 per equity ... More

YES Bank extends service hours
YES Bank will now offer banking services from 7 a.m. to 11 p.m. six days a week (Monday to Saturday) at its Andheri (west) branch in Mumbai. "Based on customer feedback, the service proposition would be extended to other branches ... More

INTEREST RATES
Andhra Bank hikes PLR
Andhra Bank has revised the benchmark prime-lending rate (BMPLR) to 11.75 per cent with effect from January 7, 2007. The existing BMPLR is 11.5 per cent, according to a bank press release on ... More

GOVT BONDS
Bond prices fall by 26 paise
Bond prices fell by about 26 paise (yields went up by almost four basis points) as the market turned cautious before the Rs 9,000-crore auction of government securities by January 12. "The second phase of CRR hike (effective ... More

CREDIT MARKET
Talks on funding ultra mega power projects
The Centre is in talks with banks and FIs to evolve market-based debt instruments having longer tenure of around 20 years, mainly with a view to facilitate funding of ultra mega power plants and other large upcoming projects. Mechanisms such ... More

SHORT TERM INSTRUMENTS
Call rates at 6.5-6.7 pc
Call ruled at 6.5-6.7 per cent against 6.25-6.75 per cent on Wednesday. Banks placed Rs 10,915 crore with the RBI in the second reverse-repo auction and borrowed Rs 1,080 crore through its first and second repo auctions. In ... More

FIXED DEPOSITS
City Union Bank deposit schemes
City Union Bank has introduced two deposit schemes called CUB 400+ and CUB 600+, effected a revision in the deposit interest rate and brought its entire 155-branch network under the core banking solutions platform. The bank had ... More

More banks raise NRE, FCNR rates
A number of banks have hiked the interest rates on NRE fixed deposits and FCNR deposits with effect from January 1. The banks are ICICI Bank, Andhra Bank, Union Bank, Dena Bank, Karnataka Bank, Federal Bank, Canara Bank, Punjab National Bank and ... More

CO-OPERATIVES
More leeway for urban co-op banks likely
RBI may let them open new branches, enter new biz More

TRENDS
It's now raining discounts
Size helps public sector insurers More