Business Daily from THE HINDU group of publications
Friday, April 03, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Friday, April 03, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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MONEY & BANKING CREDIT MARKET: Banks reduce bulk deposit rates as credit offtake remains slack Corporate fund inflows rise; pressure mounts to cut lending rates. Bangalore, April 2 Faced with mounting pressure to reduce lending rates and to counter slack credit offtake, banks have begun driving down bulk ... INTEREST RATES: Banks urged to look at scope for more rate cuts New Delhi, April 2 The Centre has implored public sector banks (PSBs) to see if they could further pare their lending rates to give a boost to the sagging economy that had been affected by the global ... FOREX: Rupee gains 35 paise The rupee appreciated by 35 paise against the dollar on Thursday, on the back of strong Asian equity indices. The domestic currency opened at 50.35 and strengthened to touch an intra-day high of 50.25. It weakened marginally to close at ... GOVT BONDS: Bond prices move up slightly Bond prices moved up after the Reserve Bank of India announced the buyback of Rs 6,000 crore worth Government securities and the Market Stabilisation Scheme unwinding of Rs 33,000 crore. Another reason could be that the spreads announced by ... SHORT TERM INSTRUMENTS: Call rate ends lower The inter-bank call rate ended substantially lower at 3.80-4 per cent, against the previous close of 4.75-5 per cent. In the first liquidity adjustment facility (LAF), there were no bids in the four-day repo auction. In the reverse repo ... PUBLIC SECTOR BANKS: UCO Bank capital infusion UCO Bank has received capital infusion worth Rs 450 crore from the Government, according to a notification by the bank to the BSE on April 1. The capital would be infused by way of perpetual non-cumulative preference shares (PNCPs). The board ... GENERAL INSURANCE: Bharti AXA unveils health policy Bharti AXA General Insurance has launched a health insurance policy called ‘SmartHealth’. The policy will provide cover for hospitalisation expenses to treat diseases and injuries as well as value-added benefits such as hospital ... TECHNOLOGY: Hitches mark first day of free ATM usage Hyderabad, April 2 On day one of free ATM usage across all banks, many customers returned empty handed as machines of many banks simply responded by saying ‘host is ... TRADE & LABOUR UNIONS: Union decries panel proposal on Nabard Thiruvananthapuram, April 2 Employees of Nabard (National Bank for Agriculture and Rural Development) have taken exception to a proposal to divest the apex bank of regulatory and supervisory authority over rural financial ... FIXED DEPOSITS: Indian Bank, LVB cut term deposit rates Chennai, April 2 Indian Bank has cut its interest rate on FCNR (B) and NRE deposits with effect from April 1. For FCNR (B) deposits in US dollars, the revised interest rate is 2.97 per cent against 3.12 per cent earlier for deposits of one ... FINANCIAL POLICY: Dividend norms: Relief for banks Mumbai, April 2 Banks receiving recapitalisation from the Government will be relieved following the Reserve Bank of India’s announcement relaxing dividend payment norms on perpetual non-cumulative preference shares (PNCPS) as part of ... TRADE & LABOUR UNIONS: Officers of SBI associate banks to go on strike Hyderabad, April 2 Over 20,000 officers working in associate banks of State Bank of India are planning to go on strike on April 11 and ... CREDIT MARKET: BoI covers 9,157 accounts under collateral-free lending scheme Mumbai, April 2 Bank of India has covered 9,157 accounts under the collateral-free lending with Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) guarantee for the year 2008-09 with total credit sanctions of Rs 474 crore, ... Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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