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MONEY & BANKING
FOREX
Rupee slips around 4 paise
The rupee slipped by around four paise against the dollar on Tuesday as public sector banks were buying dollars on behalf of the Reserve Bank of India. The rupee opened at 44.14/15 and closed the day at 44.1850 against Monday's ...
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HUMAN RESOURCES
SBI to recruit frontline staff
To set up 1 lakh rural kiosks
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RBI & OTHER CENTRAL BANKS
No anti-people clauses in ADB loan: Kerala Minister
The Asian Development Bank (ADB) has changed the `anti-people' clauses in the agreement for extending loan for the urban development projects being implemented by the five corporations in Kerala, according to the Minister for Local ...
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PRIVATE BANKS
Karnataka Bank launches new product
Karnataka Bank Ltd has launched a distinct savings bank account product under the name `S.B. Soulabhya'. A bank release said here on Tuesday that the holders of `SB Soulabhya' account will have various privileges and can avail themselves of a ...
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PUBLIC SECTOR BANKS
Indian Bank opens branch at Dharavi
Indian Bank has opened a branch at Dharavi, Asia's largest slum in Mumbai, with core banking facilities and online ATM. The branch was inaugurated by Ms Usha Thorat, RBI's Deputy Governor. "The basic objectives are to bring people into the ...
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INTEREST RATES
SBH raises benchmark PLR
State Bank of Hyderabad (SBH) has decided not to increase the existing rate of interest on both housing and education treating them under the priority sector loan category. The bank has revised the Benchmark Prime Lending ...
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Vijaya Bank increases lending rate
Vijaya Bank today formally announced its decision to increase its benchmark prime lending rate to 12.25 per cent. The increase of 50 basis points will be effective from February 15, said a bank release. The bank said the ...
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Centurion Bank of Punjab hikes PLR by 100 bps
Centurion Bank of Punjab has raised the prime lending rate by 100 basis points to 14.50 per cent per annum, effective March 1. "In recent months, we have witnessed a plethora of fiscal and monetary measures from the Government ...
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GOVT BONDS
Crisil downgrades TN bonds
Crisil, a rating agency, has revised downwards a clutch of Tamil Nadu Government guaranteed bonds issued by public sector agencies following "deterioration in the economic management by the Government of Tamil Nadu." According to rating ...
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Bond prices move up
Bond prices gained by around 12 paise and yields dropped by about two basis points. "After the first phase of CRR hike, the market expected the call rates to go beyond 9 per cent. However, the call rate ruled at around 8 per ...
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CORPORATE BONDS
UTI Bank to raise up to Rs 970 cr
UTI Bank Ltd will raise up to Rs 970 crore in one or more tranches by issuing upper Tier II debentures and/or subordinated Tier II debentures. The latter would not exceed Rs 303 crore, said the bank in a BSE announcement. ...
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SHORT TERM INSTRUMENTS
Call rates steady
Call rates remained unchanged today at 7.80-7.90 per cent against the previous close at 7.90-8.10 per cent. In the first one-day reverse repo auction, the RBI received and accepted one bid for Rs 25 crore, while in the first ...
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CREDIT CARDS & DEBIT CARDS
ICICI Bank, Sarovar Hotels' co-branded card
ICICI Bank has tied up with Sarovar Hotels to launch a co-branded credit card. Customers can use the card to get 30 per cent discount on room tariffs at select Sarovar hotels and 15 per cent discount at Sarovar restaurants. ICICI Bank hopes to ...
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MERGERS & ACQUISITIONS
Shamrao Vithal gets nod for Bangalore co-op bank buy
Shamrao Vithal Co-operative Bank Ltd (SVCB) announced on Tuesday that it had been granted approval by the Karnataka State Registrar for its proposed acquisition of Bangalore Cooperative Bank Ltd. SVCB had already obtained the Reserve Bank of ...
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TRADE & LABOUR UNIONS
Bank strike plan dropped
Consequent to the management and unions of Central Bank of India coming to an agreement, the United Forum of Bank Unions has called off the strike planned for February 23. The unions of Central Bank of India had given a call for ...
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INTERVIEW
`High global interest in funding Indian M&As'
We have ability to raise loans and need them too: Kamath
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PEOPLE
Bernanke, the Untypical Republican
Mr Ben Bernanke, the current Chairman of the US Federal Reserve and Federal Open Market Committee (FOMC), which sets US interest rates, is a registered Republican. But he seems to be much more than a closet liberal. For, in a recent classic ...
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UTI Bank extends Nayak's tenure
Dr P.J. Nayak will continue as Chairman and Managing Director of UTI Bank for two more years, effective from August 1, 2007 to July 31, 2009. "The appointment will be subject to approval by the Administrator of the Specified Undertaking of ...
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