The Hindu Business Line : Saturday, August 02, 2008

MONEY & BANKING

RBI & OTHER CENTRAL BANKS: Interest subsidy on export credit to go
Mumbai, Aug 1 The Reserve Bank of India has decided to discontinue the interest subsidy on rupee export credit from September 30, ...

CREDIT MARKET: ‘Banks to see moderate credit growth’
Fee-based income will gain importance. Mumbai, Aug. 1 The banking industry will see a moderate growth in credit this fiscal, following the hike in interest rates by the Reserve Bank of India, said Mr T.S. Narayanasami, Chairman and Managing ...

NBFCS: Tata Capital to enter home loans business
New Delhi, Aug 1 Tata Capital Limited, a wholly-owned subsidiary of Tata Sons Limited, plans to enter the booming home loan market by March 2009, its Managing Director and CEO, Mr Praveen P Kadle, has said. ...

EVENTS: Banks asked to tap more low-cost funds
This will help cushion rate hike impact: Chidambaram. Bangalore, Aug. 1 The Union Finance Minister, Mr. P Chidambaram, has appealed to public sector banks to mitigate the impact of high interest rates on borrowers by focusing on low cost ...

GOVT BONDS: Bonds gain in volatile trade
Bond prices gained by 40 paise in highly volatile trading, said bond dealers. Prices were under steady pressure before the auction announcement, said a dealer with a private bank. The RBI announced the auction of two government securities for Rs ...

LIFE INSURANCE: Oriental Bank insurance venture
Oriental Bank of Commerce has mopped up insurance premium worth Rs 2.51 crore in the first phase of insurance business in joint venture with HSBC Insurance Holdings Ltd and Canara Bank, according to Mr R. M. Sharma, General Manager of the bank in ...

NBFCS: Capital adequacy norms for NBFCs hiked to 12%
Mumbai, Aug 1 In order to tighten the regulation of systemically important non-deposit taking non banking financial companies with asset size of Rs 100 crore and above, the Reserve Bank of India, today, said such NBFCs will have to maintain ...

INTEREST RATES: ING Vysya hikes PLR by 50 bps
New Delhi, Aug. 1 ING Vysya Bank has increased its prime lending rate (PLR) by 50 basis points to 16.25 per cent with effect from August 1. The bank had last raised its PLR from 15.25 to 15.75 per cent from July 1, according to Mr Vaughn ...

FOREX: Rupee gains 20 paise

SHORT TERM INSTRUMENTS: Call rates end higher

RBI & OTHER CENTRAL BANKS: Ministry seeks revival of RBI’s special liquidity window for oil cos
New Delhi, Aug. 1 The Petroleum Ministry has sought resumption of the Reserve Bank of India’s special liquidity window to buy oil bonds from public sector oil marketing companies (OMCs). ...

INTEREST RATES: Union Bank may hike lending rate by 50 bps
Kolkata, Aug. 1 Union Bank of India might consider raising the prime lending rate by 25-50 basis points, according to Mr R. S. Reddy, Executive Director of the bank. The Asset-Liability Committee of the bank will meet within a week’s ...

CREDIT CARDS & DEBIT CARDS: ‘Rising credit card defaults worrisome’
Mumbai, Aug 1 The rise in cases of credit card defaults is a cause of worry and the reason for this is banks issuing cards without proper appraisal of customers, said Mr V Leeladhar, Deputy Governor, Reserve Bank of ...

FIXED DEPOSITS: NRE deposit rates reduced
Andhra Bank has reduced interest rates on Non Resident External (NRE) term deposits (rupee accounts). The interest on deposits for one year and less than two years now stands at 3.25 per cent (as against 3.31 per cent), two years and less than ...