MONEY & BANKING
FARM CREDIT
More Nabard funds likely for non-farm sector
In 2007-08, the National Bank for Agriculture and Rural Development (Nabard) plans to raise about Rs. 23,000 crore, almost double that raised last year, to fund the farm and non-farm sectors. Market borrowings of Nabard in 2006-07 were Rs 10,899 ...
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FINANCIAL SERVICES
Banks may get to vend stamp papers
Chidambaram likely to seek PSB chiefs' views
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REGIONAL RURAL BANKS
KVGB hikes deposit rates
The Dharwad-headquartered Karnataka Vikas Grameena Bank (KVGB) — a regional rural bank sponsored by Syndicate Bank — has increased the interest on its term deposits with effect from April 16, according to a bank ...
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INSIGHT
India need not fear a rising rupee
An appreciating rupee shows the strength of the economy and it will be folly to keep it reined-in. It would also be an insult to the great savers of the nation — the ordinary householders, says R. VAIDYANATHAN.
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FOREX
Textile mills' body for stemming rising rupee
Industry competitiveness is hit, it says
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Rupee ends down
The rupee weakened by around 3 paise against the greenback on Wednesday to close at 42.01 on reports of intervention by the Reserve Bank of India. The currency opened at 41.98, saw an intra-day high of 41.80 before closing at ...
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CREDIT POLICY
Economists see RBI staying hawkish
Consensus view among economists and observers is that the Reserve Bank of India (RBI) will stick to its `tight stance' with a hawkish view of interest rates when reviewing the annual monetary policy next week. "Thus far, the interest rate ...
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SOFTWARE
Infosys selects Aptech for Finacle
Aptech Training Solutions, the corporate training arm of Aptech Ltd, has been selected by Infosys Technologies to deliver end user training on its core banking solution Finacle. Aptech will deploy expert trainers at the client ...
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GOLD & SILVER
HDFC Bank expects big jump in gold coins sale
Akshaya Trithi, falling this year on April 20th, is considered an auspicious day for Hindus. It certainly will be one for banks. Ms Chitra Pandeya, who heads HDFC Bank's Liabilities and payment products group, expects to see a huge jump in sales ...
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HOUSING FINANCE
IDBI floating home loans dearer
Industrial Development Bank of India Ltd (IDBI) has raised its Retail Reference Rate (RRR), the benchmark for pricing its floating home loans, by 75 basis points to 11.25 per cent effective April 10. For all the existing home ...
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LIFE INSURANCE
SBI Life to utilise other banking network services
IPO at the `right time, by 2010 deadline'
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RBI & OTHER CENTRAL BANKS
Banks must raise Rs 45,521 cr from capital market: RBI
Meeting Basel-II norms on capital adequacy
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PUBLIC SECTOR BANKS
RBI rejects banks' plea on asset provisioning
The Reserve Bank of India (RBI) has rejected the request of public sector banks (PSBs) to phase out the increased provisioning requirement on standard assets with respect to exposure to real estate, capital market, NBFCs and personal loans. The ...
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INTEREST RATES
`Rising rates will impact commercial vehicle sales'
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GOVT BONDS
Bond prices rise by 20 paise
Bond prices rose by about 20 paise and yields fell by four basis points on comfortable liquidity in the banking system. "Call rates have also softened to 11-12 per cent, triggering a rise in bond prices," said a dealer at a ...
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CREDIT MARKET
Credit info biz applications
The Reserve Bank of India has invited applications for registration from companies interested in entering the business of credit information. The completed applications should reach the RBI by close of business on July 31, said a ...
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SHORT TERM INSTRUMENTS
Call rates decline
Call rates closed lower at 11-12 per cent on Wednesday against the previous close of 15-16 per cent. In the first one-day reverse repo auction, the RBI received and accepted one bid for Rs 10 crore. In the first one-day repo ...
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FIXED DEPOSITS
PNB offers floating rate FD
Punjab National Bank (PNB) on Wednesday launched the PNB Floating Rate Fixed Deposit Scheme, where the interest payable on the fixed deposit would automatically change with the changes in the fixed-deposit card rates made ...
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MERGERS & ACQUISITIONS
ICICI identity for Sangli Bank
All branches of Sangli Bank will function as branches of ICICI Bank from April 19, said the Reserve Bank of India in a notice on Wednesday, sanctioning the scheme of amalgamation of Sangli Bank with ICICI Bank. Shareholders of ...
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REGULATORY BODIES & RULINGS
Nabard plans to recapitalise co-op credit structure
"Nabard will not regulate commercial banks, non-banking finance companies and self-help groups but only other players like non-government organisations, trusts and co-operative societies which are into micro-finance," said Dr Y.S.P Thorat, ...
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EVENTS
ISB to co-host Wharton meet
Indian School of Business (ISB) will co-host a global research conference on `India's Financial Markets' at The Wharton School, Pennsylvania from April 19-21. "The participation of some of the best minds from across the world (in ...
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