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MONEY & BANKING
FOREX:
NRIs shifting funds from dollar to rupee accounts
Mumbai, March 18 Non-resident Indians (NRIs) appear to be making the most of the rupee’s depreciating trend against the dollar. By liquidating their foreign currency non-resident (banks) deposits denominated in dollars and parking ...
FOREX:
Indian holdings in US treasuries soar to $32.5 b
Sharp drop in forex reserves due to RBI support for oil refineries. Bangalore, March 18 India’s holdings of the US Government securities rose by $17.9 billion on a year-on-year basis despite a sharp contraction in foreign ...
CREDIT MARKET:
Trade finance getting dearer
Emerging markets, commodities trade likely to be hardest hit: Survey. New Delhi, March 18 With India’s exports losing traction and sliding on a negative zone since October 2008 in the face of a global economic slowdown and contraction of ...
PRIVATE BANKS:
Axis Bank to curtail personal loan portfolio
Rising delinquencies cause concern; to grow retail portfolio in eastern zone. Kolkata, March 18 The eastern zone of Axis Bank, comprising West Bengal, entire North-East, Bihar, Jharkhand and parts of Chhattisgarh, would curtail its personal loan ...
CREDIT MARKET:
Kerala banks do well under economic stimulus package
Public sector banks in Kerala extended finance to 3,345 micro, small and medium enterprises (MSMEs), involving a credit outlay of Rs 443.03 crore, till February 28 this year under the economic stimulus package announced by ...
GOVT BONDS:
Bond prices up
Bond prices rose by around 40 paise on Wednesday in anticipation of the Rs 10,000-crore buyback of government securities by the Reserve Bank of India. There was some late buying of securities ahead of the buyback, said a dealer with a private ...
FOREX:
Rupee gains 20 paise
The rupee gained by about 20 paise tracking a steady equities market. The movement in the rupee was rangebound as demand matched supplies. The rupee opened at 51.37/40 and closed at 51.30, against the previous close of 51.50. During the day it ...
SHORT TERM INSTRUMENTS:
Call rate ends a tad higher
The inter-bank call rate closed a tad higher at 4.25-4.40 per cent, against the previous close of 4.20-4.30 per cent.In the first liquidity adjustment facility (LAF), there were no bids in the repo and the reverse repo auction. Under ...
FOREIGN BANKS:
HSBC leveraging Investsmart network to grow retail portfolio
Mumbai, March 18 HSBC has drawn up plans to leverage the 300 odd outlets of Investsmart spread across the country to increase the reach of its financial product and service offerings in the wealth management, life insurance, and asset ...
ALLIANCES & JOINT VENTURES:
GE Capital, Shriram Transport join hands
Chennai, March 18 GE Transportation Financial Services, a unit of GE Capital India, has signed a Memorandum of Understanding with Shriram Transport Finance Company to form a joint venture that will finance purchase of equipment of any kind, ...
PRIVATE BANKS:
Dhanalakshmi Bank raises the bar
Thiruvananthapuram, March 18 The Thrissur-based Dhanalakshmi Bank has drawn up an ambitious plan to place itself among the top five private sector banks in the country ...
EVENTS:
Bullish on growth
...
NON-PERFORMING ASSETS:
Arcil seeks change in FDI norms to raise funds
New Delhi, March 18 The Asset Reconstruction Company of India (Arcil), which has proposed a change in the time frame under which debt could be restructured, has called for changes in the foreign direct ...
PUBLIC SECTOR BANKS:
UK fund offloads holding in Vijaya Bank
Kolkata, March 18 The Children’s Investment Fund, an FII that has been selling its stake in bank stocks in recent weeks, on Wednesday substantially unloaded its holding in Vijaya ...
OVERSEAS BORROWINGS:
JBIC extends $100-m export credit line for ICICI Bank
New Delhi, March 18 The Japan Bank for International Cooperation (JBIC) has provided a $100-million export credit line for ICICI ...
NBFCS:
Crane tool for L&T arm
L&T Finance Ltd, a subsidiary of L&T that provides financial products and services for trade, industry and agriculture, has chosen Crane Software International’s banking solution BR.net to power its microfinance initiatives. BR.net ...
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