The Hindu Business Line : Friday, June 27, 2008

FARM CREDIT
Debt waiver: State co-operative banks find data collection difficult
Kolkata, June 26 With recent floods in some areas of West Bengal and the uncertain position prevailing in Darjeeling, co-operative banks are finding it difficult to collect data for the debt waiver and debt relief scheme. The West ... More

Banks to stick to debt waiver schedule
Banks in Thiruvananthapuram district will come out with a list of eligible borrowers and their entitlements mandated under the agricultural debt waiver and debt relief scheme before June 30. This was announced at a meeting of the ... More

FINANCIAL SERVICES
LIC Housing Fin sets up financial services arm
Plans to launch a venture capital fund this year More

ICICI Bank’s high networth individuals segment to grow 50%
Kolkata, June 26 ICICI Bank’s ‘high networth individuals’ segment — comprising both global private clients and wealth management — is set to witness a growth of 50 per cent in 2008-09, according to Mr Vivek ... More

Lukewarm response to reverse mortgage scheme
Lack of awareness, societal norms major hurdles More

HOUSING FINANCE
HDFC seeks to raise borrowing limit
New Delhi, June 26 Home financing major Housing Development Finance Corporation Ltd (HDFC) will seek shareholders’ nod on July 16 to hike overall borrowing limit of its Board. Growth in business in recent years has prompted HDFC ... More

PRIVATE BANKS
BNP Sundaram MF in pact with J&K Bank
Mumbai, June 26 BNP Sundaram Paribas Mutual has entered a tie-up with The Jammu & Kashmir Bank Ltd to distribute its entire bouquet of schemes across its branches in major business cities in the country.“We see greater ... More

PUBLIC SECTOR BANKS
SBI, Union Bank hike lending rate by 50 bps
Mumbai, June 26 Banks have started hiking lending and deposit rates. Two public sector banks – State Bank of India and Union Bank of India – have announced an increase in their prime lending rates by 50 basis points each. Union ... More

UCO Bank gets nod for follow-on public issue
Plans to raise Rs 400 crore by third quarter More

Biometric ATM
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FOREIGN BANKS
‘India can grow at over 7% despite economic slowdown’
Chennai, June 26 Central banks all over the world had kept their interest rates too low for too long, according to Mr Gerard Lyons, Chief Economist and Group Head of Research, Standard Chartered Bank. And so when the reversal happens, ... More

SHORT TERM INSTRUMENTS
Call rate ends lower
The inter-bank call rate ended at 8.70-8.75 per cent, lower than the previous close of 9.00-9.10 per cent. In the one-day repo auction under the liquidity adjustment facility, the RBI received and accepted 26 bids worth Rs 32,750 crore. There ... More

ALLIANCES & JOINT VENTURES
UBI, Myanmar banks ink pact
United Bank of India has signed memorandum of understanding with three Myanmar banks — Myanmar Foreign Trade Bank, Myanmar Investment and Commercial Bank and Myanmar Economic Bank. A press release here said UBI is the designated bank in ... More