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MONEY & BANKING
FINANCIAL POLICY:
RBI signals cheaper loans
Cuts repo, reverse repo rates for ‘growth stimulus’. Mumbai, Dec. 6 Sending a clear signal to banks to reduce lending rates and advance more credit to productive sectors, the Reserve Bank of India on Saturday cut its key short term ...
GOVT BONDS:
Alternatives to FDs
Most investment products have delivered negative returns in recent times. And, investors are sitting tight on cash, not knowing where to invest. Given this scenario, a quick look at various debt instruments which seem attractive at this ...
RBI & OTHER CENTRAL BANKS:
RBI sees inflation rate below 7% by year-end
Subbarao: Cut in fuel prices should ease inflationary pressures. Mumbai, Dec. 6 The Reserve Bank of India expects the year-end inflation figures to be significantly lower than the seven per cent ...
CRR & BANK RATES:
Refinance amount not enough: Home finance companies
Mumbai, Dec 6 Housing Finance Companies, while welcoming the RBI measures, said the Rs 4,000 crore refinance facility provided through National Housing Bank is too small. The amount hardly represents five per cent of the total exposure of ...
CONSUMER FINANCE:
Auto cos see no major boost to demand
New Delhi, Dec. 6 Automobile companies have stated that the repo rate cut announced by the Reserve Bank of India on Saturday which is likely to lower interest rates on vehicle loans, would not boost ...
CREDIT MARKET:
‘Banks will make credit affordable’
RBI on short-term interest rates, regulatory forbearance for the commercial real estate and viable units facing cash flow problems, SMEs, HFCs, exports, etc are pragmatic and in line with the needs of the economy. The cut in repo and reverse ...
INTEREST RATES:
SBH likely to further soften rates
Ms Renu Challu, Managing Director, State Bank of Hyderabad, said the reduction in repo and reverse repo rates by RBI is a good signal that interest rates should soften further. “This will facilitate better refinancing to the banks by NHB ...
INTEREST RATES:
Karur Vysya to reduce BPLR
The Managing Director of Karur Vysya Bank, Mr P.T. Kuppuswamy, said the cut in the policy rate was on the cards and it was no surprise. “We have decided to reduce the BPLR rate by 50 basis points to 15.25 per cent with effect from ...
PRIVATE BANKS:
South Indian Bank ‘to wait & watch’
Dr V.A. Joseph, Managing Director of South Indian Bank (SIB), said the stimulus package would help reduce the cost of deposit as also bring down the lending rate. SIB would, however, ‘wait and watch’ the bigger banks move the coin ...
CRR & BANK RATES:
SBI waits for stimulus package
A general reduction in interest rates on assets and liabilities cannot be ruled out following RBI’s latest measures. We will take stock of the situation arising out of these measures. We will weigh the impact of our action in this ...
INTEREST RATES:
Yes Bank to cut rates by 50 bps
Yes Bank has decided to cut its PLR by 50 basis points to 16.50 per cent from December 8. Mr Rajat Monga, President, Financial Markets and CFO, Yes Bank, said the time was appropriate and the environment conducive to translate the monetary ...
LIFE INSURANCE:
Tata AIG unveils unit-linked plan
Tata AIG Life Insurance has launched a unit-linked plan called ‘InvestAssure Optima’. The plan offers a balance of guaranteed additions and high allocation rates, while providing comprehensive insurance protection, a press release ...
CRR & BANK RATES:
‘Markets have discounted RBI measures’
Mumbai, Dec 5 Officials at broking firms and mutual funds do not appear too enthused by the interest rate cuts and other monetary measures announced by the RBI on Saturday; the stock markets having factored this ...
HOUSING FINANCE:
Priority status to boost housing demand
Mumbai, Dec 6 To facilitate credit flow into the cash-strapped real estate sector, the Reserve Bank of India (RBI) on Saturday announced several measures, including a refinance facility for the National Housing Bank and priority sector ...
RBI & OTHER CENTRAL BANKS:
SEZs await apex bank decision on ‘infrastructure’ status
Hyderabad, Dec. 6 The Empowered Group of Ministers (eGoM) is in favour of classifying special economic zones (SEZs) under ‘infrastructure’ projects with the objective of bringing about flexibility in external commercial ...
HOUSING FINANCE:
RBI package welcome, but…
The real estate sector has welcomed the Reserve Bank of India’s support measures for the real estate sector but some of the leading developers feel more is needed to rejuvenate the market. The RBI has brought down the ...
FINANCIAL POLICY:
‘Enabling bankers to support borrowers’
Mumbai, Dec. 6 The reduction in repo and reverse repo rate are welcome measures to meet the objectives of maintaining adequate liquidity and financial stability as well as conditions conductive to economic growth, according to Ms Chanda ...
INSURANCE:
IRDA seeks investment details from insurers
The Insurance Regulatory and Development Authority (IRDA) has asked all insurance companies to furnish the details of investments made by them during the last ...
INTEREST RATES:
IDBI to cut deposit rates
Mumbai, Dec. 6 The IDBI Bank Chairman and Managing Director, Mr Yogesh Agarwal, said his bank would be cutting deposit rates by 100 basis points next ...
CRR & BANK RATES:
Rate cuts soon, say banks based in Mangalore
Mangalore, Dec. 6 Bankers in Mangalore view the growth stimulus measure, which was announced by the Reserve Bank of India (RBI) on Saturday, as a positive thing for the entire economy. Mr J.M. Garg, Chairman and Managing Director of ...
INTEREST RATES:
PNB to review interest rates in January
New Delhi, Dec. 6 The Punjab National Bank will review its lending and deposit rates in January, its Chairman and Managing Director, Dr K.C. Chakrabarty, ...
SECURITISATION:
Draft norms for securitisation cos on dues realisation
The Reserve Bank of India in its Draft Guidelines on change in or takeover of the management of the business of the borrower by Securitisation Companies (SC) or Reconstruction Companies (RC) issued on Friday said SCs/RCs could change or ...
DEBT MARKET:
Know your debt fund options
The equity market has belied investors’ hope of a quick revival, what with the correction that started in January 2008, showing no clear signs of waning. However, given the interest rate movement over this period, those who had invested ...
FINANCIAL POLICY:
Micro and small enterprises get a lifeline
Unveiling the “monetary” chapter of the much awaited stimulus package, the Reserve Bank of India has cut short-term lending rates – the repo and reverse repo rates by one percentage point each to 6.5 per cent and 5 per ...
FINANCIAL POLICY:
Relief to both developers and home buyers
BL Research Bureau The Reserve Bank of India’s growth stimulus package has a couple of significant measures that may help put the ailing real estate sector back on the growth ...
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