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MONEY & BANKING
CREDIT MARKET:
BoI cuts lending rates by 75 bps
Mumbai, Nov. 5 Bank of India on Wednesday announced a 75 basis points cut in its benchmark prime lending rate to 13.25 per cent with effect from November 6. The bank has also decided to reduce deposit rates by 50 basis points with effect ...
CREDIT MARKET:
Credit squeeze may hit agri-lending target
The amount aimed at is Rs 2,80,000 crore. New Delhi, Nov. 5 The ongoing liquidity squeeze could affect one of the ruling United Progressive Alliance (UPA) Government’s top accomplishments - the significant step-up in institutional credit ...
CREDIT MARKET:
Steep discounts to lending rates unlikely
Credit offtake, deposit accretions remain high. Bangalore, Nov. 5 Banks have cut their bench mark prime lending rates (BPLR) by at least 75 basis points; but there is little cause ...
TECHNICAL ANALYSIS:
Rupee faces resistance at 47
There was another bevy of policy rate cuts and easing of reserve requirements by central banks across the globe last week to stabilise financial markets. Equities finally deigned to take note of these frantic efforts and a smart rally ensued ...
INTEREST RATES:
Private sector, foreign banks to consider rate cut
New Delhi/Chennai, Nov. 5 The private sector and foreign banks have assured the Government that they will consider its plea for a cut in interest rates. None of the banks, however, indicated by how much the rates will ...
SHORT TERM INSTRUMENTS:
Call rate ends lower
The inter-bank call rate ended lower at 6.75-7 per cent, as against the previous close of 7.65-7.80 per cent. In the one-day repo auction under the first liquidity adjustment facility (LAF), RBI received and accepted three bids for Rs 1,850 ...
INTEREST RATES:
More banks follow suit, cut lending rates
Mangalore, Nov. 5 Corporation Bank has decided to reduce its benchmark advance rate by 75 basis points with effect from November ...
FOREX:
Cos keep away from ECB route as spreads remain high
Bangalore, Nov. 5 Access to the international credit markets remained choked off for domestic corporates keeping the pressure on domestic ...
FOREX:
Rupee on the uptrend, gains 24 paise
Mumbai, Nov. 5 The rupee continued its week-long appreciating trend against the dollar on Wednesday, gaining 24 paise against the ...
GENERAL INSURANCE:
Iffco-Tokio launches new scheme in TN
Coimbatore, Nov. 5 After the introduction of Barish Bima Yojna (BBY) for kharif crops in four States in 2004, Iffco-Tokio General Insurance Company evolved a variant of its weather insurance product — Mausam Bima Yojna (MBY) — ...
PUBLIC SECTOR BANKS:
Net interest margin may see moderation
Rate cut: It gives directional change on movements. Public sectors banks seem to have taken the first steps towards reducing interest rate regime by agreeing to cut their prime lending rates. Bank of India, State Bank of Bikaner and Jaipur and ...
FOREIGN DIRECT INVESTMENT:
FDI hike in insurance opposed
The National Federation of Insurance Field Workers of India (NFIFWI) has opposed the increase in the foreign direct investment (FDI) from 26 per cent to 49 per cent in the insurance sector. According to Mr J. Karthik Raja, General Secretary, ...
SOCIETY & DEVELOPMENT:
SBH donates Rs 25 lakh to NIRD
To strengthen the cause of rural development, State Bank of Hyderabad donated Rs 25 lakh to the National Institute of Rural Development, Hyderabad for setting up of an exclusive centre for rural credit and development banking, according to ...
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