Business Daily from THE HINDU group of publications
Saturday, July 04, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Saturday, July 04, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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MONEY & BANKING NON-PERFORMING ASSETS: 8 banks face NPAs of Rs 1,300 cr on PSU arm’s scrap woes Chennai, July 3 Five public sector banks and three of the private sector are in danger of losing about Rs 1,300 crore, as a loan account of a public sector undertaking, STCL Ltd, has ... MERGERS & ACQUISITIONS: SBI’s consolidation proposal hits union hurdle New Delhi, July 3 The Centre has advised the State Bank of India not to pursue with the Reserve Bank of India the issue of acquisition of State Bank ... CONSUMER FINANCE: NBFCs lower auto loan rates in race with public sector banks Finance arms of Tata Motors, Bajaj provide incentives to deter payment defaults. New Delhi, July 3 Faced with stiff competition from public sector banks, Non-Banking Finance Companies (NBFCs) have been forced to lower their rates on vehicle ... CORPORATE BONDS: IRFC allowed to float tax-free bonds for Rs 5,000 cr May borrow Rs 9,000 cr totally this fiscal. New Delhi, July 3 For the first time since 2003-04, the Indian Railway Finance Corporation (IRFC) has been permitted to issue tax-free bonds as part of its budgeted borrowing programme of Rs 9,000 ... SHORT TERM INSTRUMENTS: Call rate closes at 3.20-3.25% The inter-bank call rate closed at 3.20-3.25 per cent, as against the previous close of 3.20-3.30 per cent. Under the first Liquidity Adjustment Facility (LAF) conducted by the Reserve Bank of India, there were no bids in the three-day repo ... PRIVATE BANKS: SIB plans online trading platform South Indian Bank plans to launch online trading platform soon, according to its Managing Director and Chief Executive Officer, Dr V.A. Joseph. “We are talking to Geojit BNP Paribas Financial Services Ltd, IDBI and Muthoot for online ... DIVIDEND ANNOUNCEMENT: IndusInd Bank to pay 12% IndusInd Bank has announced a dividend of 12 per cent for the year ended March 31, 2009 against 6 per cent in the previous year, according to a press release here. The bank was able to improve profitability through increased focus on ... INTEREST RATES: Corporation Bank hikes NRE rates Corporation Bank has hiked interest rates on NRE term deposits with effect from July 1.The revised rates are: 3.36 per cent (against 3.35 per cent earlier) for tenure of one year to less than two years, 3.28 per cent (3.13 per cent) for two ... PRIVATE BANKS: Dhanalakshmi Bank plans to float venture capital fund Mumbai, July 3 Thrissur-headquartered Dhanalakshmi Bank plans to enter the venture capital fund space. The old-generation private sector bank is seeking to float a fund that will have a corpus of Rs 2,000 crore for investing ... RBI & OTHER CENTRAL BANKS: RBI keen on financial literacy Lessons learnt from every financial crisis: Usha Thorat. Chennai, July 3 The Reserve Bank of India has taken up promoting financial literacy with a missionary ... ALLIANCES & JOINT VENTURES: UCO Bank to hold 30% in insurance joint venture Kolkata, July 3 UCO Bank would hold 30 per cent stake in the general insurance joint venture, expected to commence operations before March ... INTEREST RATES: Cut interest rates to make common man spend Recovery from recession is sure to happen with more pump priming. Accelerator effect would create ripples in the economic activities and give a push to the economy to move out of the recessionary tendencies.When economy is facing ... FOREX: Forex reserves increase by $932 million Mumbai, July 3 Foreign exchange reserves increased by $932 million to $264.584 billion for the week ended June 26, according to figures released in the Reserve Bank of India’s weekly ... PERFORMANCE: Srei Equipment Fin posts 10% growth in disbursals Kolkata, July 3 Srei Equipment Finance Pvt Ltd, the 50:50 joint venture between Srei Infrastructure Finance and BNP Paribus Lease Group, has registered a 10 per cent growth in disbursals in the first quarter of 2009-10, according to Mr ... ALLIANCES & JOINT VENTURES: Banks’ multiple tie-ups with insurers opposed Mumbai, July 3 The Insurance Brokers Association of India (IBAI) has opposed the proposal of allowing banks to have multiple tie- ups ... INTEREST RATES: SBT cuts lending rate by 50 bps Thiruvananthapuram, July 3 State Bank of Travancore has trimmed its benchmark prime lending rate by 50 basis points to 12.25 per cent. The revised rate is effective from July 1 and would get reflected in the advances linked to the BPLR, a ... HOUSING FINANCE: I-T relief of up to Rs 3 lakh on home loan interest sought Mumbai, July 3 The housing finance industry is seeking a higher tax exemption limit for interest paid on ... GOVT BONDS: Bond prices up Bond prices firmed up ahead of the Budget. While traders are building up positions , the fall in crude prices also helped, said a bond dealer with a private bank. The expectation now is that government borrowing may not be as high as it was ... Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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