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MONEY & BANKING
FINANCIAL MARKETS:
Sensex sinks below 10,000
Lowest level in 2 years; Nifty sheds 5.9%; index heavyweights lose 5-10%. Mumbai, Oct. 17 The widely tracked 30-share Sensex on Friday plunged below the 10,000-level for the first time since July 2006, leaving market ...
FINANCIAL MARKETS:
Forex reserves fall $10 b on FII outflows
Mumbai, Oct. 17 The country’s foreign exchange reserves fell by around $10 billion, probably the biggest fall in a single ...
CREDIT MARKET:
Ministry asks banks to allow cos to utilise sanctioned loan limits
New Delhi, Oct. 17 The Finance Ministry has advised public sector banks (PSBs) to allow borrowers/companies to utilise the sanctioned term loan and working capital limits. They have also been asked to assess on a priority basis all requests ...
FINANCIAL POLICY:
Banks slow to use RBI facility for loans to MFs
Of Rs 20,000-cr special offer, only Rs 7,005 cr used. Kolkata, Oct. 17 Asset management companies have welcomed the Reserve Bank of India’s special facility extended to banks to lend to the mutual fund sector recently. They, however, say ...
INSIGHT:
From Washington Consensus to India Consensus
Of the many things that history teaches us, perhaps the most important is that anyone who thinks that ideas are inter-temporally valid is bound to be proven wrong, perhaps, humiliatingly, in his own lifetime. Several examples can be given but ...
FINANCIAL PERFORMANCE:
HDFC net profit up 32% on healthy loan growth
Target for loan disbursals this year is 25%. Mumbai, Oct. 17 Housing loan major HDFC Ltd saw net profit for the second quarter rise to Rs 534 crore, up 32 per cent from Rs 403 crore in the same quarter last year, on the back of strong loan ...
OVERSEAS INVESTMENTS:
PNB in race for Kazak bank
Sees good opportunities in the region after Indo-US deal. Bangalore, Oct 17 The public sector Punjab National Bank (PNB) is in the race for acquiring a bank in Kazakhstan. Speaking to newspersons here on Friday, the PNB Chairman and Managing ...
SHORT TERM INSTRUMENTS:
Call rates unchanged
Call rates ended at 6.75-7.00 per cent, almost unchanged from Thursday’s close. In the three-day repo auction under the first liquidity adjustment facility (LAF), the RBI received and accepted one bid worth Rs 250 crore. There were no ...
CREDIT MARKET:
Corp Bank offer on loans
Corporation Bank is offering a festival bonanza on ‘Corp Home’ and ‘Corp Mobile’ loans from October 17 to November 15. A bank release said here on Friday that the bank will offer 25 basis points interest rate concession ...
ALLIANCES & JOINT VENTURES:
Morgan Stanley India explores alliances with Mitsubishi UFJ
Mumbai, Oct. 17 Morgan Stanley will explore strategic alliances with Mitsubishi UFJ Financial group in India, as elsewhere in the world, in areas related to capital market, said Mr Narayan Ramachandran, CEO & Country Head, Morgan ...
CREDIT MARKET:
Collateral-free loans for micro, small units
Bangalore, Oct.17 Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has announced the launch of an experimental collateral-free loans through its member banks for loans banks up to Rs one ...
FOREX:
Rupee tad weaker
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FIXED DEPOSITS:
Andhra Bank's NRE term deposits
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FIXED DEPOSITS:
FCNR deposit rates hiked
State Bank of Travancore (SBT) has raised the interest rates for FCNR and NRE term deposit rates with effect from October 17. As per the revision, the interest rates for NRE deposits will be 4.96 per cent for a period of one year to less than ...
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