The Hindu Business Line : Thursday, November 27, 2008

MONEY & BANKING

INTEREST RATES: PNB to cut deposit, lending rates by 100 bps
New Delhi, Nov. 26 Punjab National Bank has decided to reduce its benchmark prime lending rate (BPLR) by 100 bps from 13.50 per cent to 12.50 per cent with effect from ...

GENERAL INSURANCE: Software exporters mull credit risk insurance
Payment risks from slowdown-hit overseas customers seen. Bangalore, Nov. 26 Anticipating an escalation of payment risks from troubled overseas customers, especially in the telecom sector, Indian software exporters are looking at credit risk ...

FOREIGN BANKS: Citi bailout, big relief for banks
Nostro accounts not covered by FDIC, could turn sticky. Bangalore, Nov. 26 Having spent sleepless nights, public sector banks (PSBs) have reason to be relieved by the US-Government inspired bailout ...

CREDIT MARKET: SMEs seek easier lending, repayment norms
Mumbai, Nov. 26 Bankers have agreed to consider the demand of small and medium enterprises to relax the lending and repayment norms to help them tide over the current ...

LIFE INSURANCE: Max NY Life’s premium collections
Max New York Life Insurance (MNLI) has announced that the company crossed Rs 3,000 crore in collected premium during January-October 2008. This represented a 61 per cent growth over the corresponding period last year. Of the collected premium of ...

SHORT TERM INSTRUMENTS: Call rates close lower
Call rates closed lower at 6-6.10 per cent, against the previous close of 6.6-6.7 per cent. Under the Liquidity Adjustment Facility, in the first one-day auctions, RBI received and accepted one repo bid for Rs 1,600 crore and eight reverse repo ...

FIXED DEPOSITS: City Union Bank deposit scheme
City Union Bank has launched ‘CUB 1000’, a 1,000-days deposit scheme. The bank is offering 11.60 per cent for senior citizens investing in this scheme and 11.30 per cent for rest of the investors. Besides introducing the product, ...

CREDIT RATING: India to grow at 7-7.5% in 2008, says S&P report
Inflation forecast at 7.2-7.6% in 2008. Global credit rating agency Standard & Poor’s, in its latest outlook for the Asia-Pacific markets, has estimated that India’s real GDP growth will moderate to 6.5-7.0 per cent in 2009 even ...

HOUSING FINANCE: Housing finance cos on recovery mode despite downbeat market
GIC Housing Finance, Dewan Housing Finance gain. Kolkata, Nov. 26 Housing finance companies seem to be recovering fairly even in this downbeat market ...

TRENDS: Investors find gold, insurance policies ‘safe investments’: Survey
Kolkata/Mumbai, Nov. 26 After gold, life insurance policies are the second most “safe” investment avenues to investors in the country in the present financial condition, according to a recent survey by AC Nielson and Max New ...

RESTRUCTURING: IFCI to decide on stake sale after capital rejig
Mumbai, Nov. 26 Financial institution IFCI Ltd is waiting for clarity on capital restructuring before taking a final decision on selling 26 per cent stake to a strategic partner, said Mr Atul Kumar Rai, CEO and ...

CREDIT MARKET: RBI notification on core projects to help IOB reduce NPAs
Chennai, Nov. 26 Indian Overseas Bank’s NPAs would be reduced by Rs 150 crore due to the Reserve Bank of India’s recent re-classification on infrastructure projects. This is significant to the bank, whose bad debts surged by Rs ...

RBI & OTHER CENTRAL BANKS: Banks must disclose info on processing fees: RBI
The Reserve Bank of India has asked all banks/ financial institutions to ensure that all information relating to charges/fees for processing are always disclosed in the loan application ...

RBI & OTHER CENTRAL BANKS: Challenges will remain: Leeladhar
Mumbai, Nov. 26 Challenges to the Indian economy still remain as the global uncertainties continue to persist, though the impact of the global crisis on India is to a much lesser extent, said Mr V. Leeladhar, Deputy Governor, Reserve Bank ...

ALLIANCES & JOINT VENTURES: YES Bank, Mashreq tie up
Mumbai, Nov. 26: The UAE-based private bank Mashreq has tied up with YES Bank to launch global Indian banking services across UAE. The partnership will allow Mashreq Gold customers in the UAE to open rupee savings accounts ...

FOREX: Rupee gains on dollar inflows
The rupee gained for the second day in a row on dollar inflows. Part of the inflows may have been on account of Japanese firm NTT DoCoMo bringing in funds for the stake it picked up in Tele Teleservices, said forex dealers. The gains in the ...