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PREFERENTIAL ALLOTMENTS
Funding growth
The Board of Karnataka Bank has resolved to issue over 63 lakh shares to Washington based International Finance Corporation (IFC) on preferential basis, subject to approvals. ... More

FINANCIAL SERVICES
Spandana plans to raise Rs 400 cr in next 6 months
Hyderabad, Oct. 6 Microfinance player Spandana Sphoorty Innovative Financial Services Ltd plans to raise Rs 400 crore over next six months to meet its fund requirement. The Hyderabad-based company, which operates in southern States, is ... More

REGIONAL RURAL BANKS
Co-op credit: ‘Implement Vaidyanathan report early’
Thiruvananthapuram, Oct. 6 The National Co-operative Agriculture and Rural Development Banks Federation has sought early implementation of the Vaidyanathan Task Force recommendations for revival of long-term cooperative credit ... More

FOREX
‘Hike in DEPB rates not the solution to rupee problem’
Kolkata, Oct. 6 Urging exporters to adjust to the scenario of a stronger rupee through adoption of a hedging mechanism (forward contracts) or invoicing in currencies other than the dollar like Euro, the Director General of Foreign Trade ... More

Kamal Nath says exporters need more relief
New Delhi, Oct 6 The Union Commerce and Industry Minister, Mr Kamal Nath, on Saturday gave a qualified welcome to the mini-package for exporters announced by the Finance Ministry in the wake of the appreciating rupee, stating that he would ... More

HOUSING FINANCE
Festive offer: Axis, Dena Bank drop home loan rates
Mumbai, Oct 6 Axis Bank and Dena Bank have reduced interest rates on home loans in the run-up to the festival season. Dena Bank is offering a 50 basis-point reduction in interest rates for all tenors and slabs as part of its ... More

CORPORATE BONDS
Decision on oil bonds for downstream industry soon
Mumbai, Oct. 6 A decision on issuing oil bonds for the downstream industry could be taken in a week’s time. The Petroleum Ministry has already held talks with the Finance Ministry over the issue, said Mr Murli Deora, Union ... More

WBIDFC’s Rs 1,000-cr bond issue
West Bengal Infrastructure Development Finance Corporation (WBIDFC) has concluded a Rs 1,000-crore bond issue. The company, a wholly owned NBFC for the State Government, has in a press release said the issue has set a new record for large-scale ... More

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