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MONEY & BANKING
INSIGHT
Basel II and India's banking structure
Despite the postponement of the target dates for banks to implement the Basel II guidelines, adjustments aimed at realising that goal are under way. In this and the following editions of Macroscan, C. P. Chandrasekhar and Jayati Gho sh examine what the guidelines involve, their effects on the banking structure and behaviour and some likely outcomes of implementing them.
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FOREX
Shipping industry eyes forex reserves for acquisitions
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Rupee marginally down
The rupee weakened marginally by about two paise as the RBI was reported to have bought dollars in the market. The rupee opened strong at 44.06, and was held up at 44.07 for around three hours as the RBI kept intervening in the ...
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TECHNOLOGY
Andhra Bank to install biometric ATMs
Andhra Bank has taken the lead with a proposal to set up a large number of biometric ATMs. Initially the system would be installed in Andhra Pradesh, said Mr K. Ramakrishnan, Chairman and Managing Director. Addressing presspersonsafter ...
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LIFE INSURANCE
MetLife plans for Dhanalakshmi Bank customers
MetLife India Insurance has announced the launch of two schemes, Mangalyam and Harishri with Met Smart Plus unit linked savings-cum-insurance plan for the customers of Dhanalakshmi Bank. Mangalyam is designed to plan for the daughter's wedding ...
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GENERAL INSURANCE
IFFCO-Tokio ties up with Peerless
IFFCO-Tokio General Insurance Co Ltd (ITGI) has entered into a tie-up with the Peerless Group to offer its retail and commercial line of insurance products through the latter's distribution network. This tie-up will be rolled out in three ...
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FINANCIAL INSTITUTIONS
IFC keen to support units in agri-biz space
Exposure to Indian cos may rise to $800 m
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INTEREST RATES
SBI raises PLR by 75 bps
State Bank of India has raised its benchmark prime-lending rate (SBAR) by 75 basis points to 12.25 per cent per annum, effective February 20. The hike follows the increase in cash reserve ratio by the RBI to 6 per cent. However, the existing ...
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Vijaya Bank to be selective on retail credit
To hike prime lending rate by 50 basis points
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Andhra Bank hikes PLR
Andhra Bank has increasedits Benchmark Prime Lending Rate from the existing 11.75 per cent to 12.25 per cent with effect from February 16. The upward revision is however, not applicable to education loans. In respect of all ...
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PNB board to meet on Feb 23
The board of directors of Punjab National Bank (PNB) is to meet on February 23 to among other things ratify its recent decision to hike its prime lending rate (PLR) by 50 basis points. PNB had recently raised its PLR from ...
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SBT hikes prime lending rate
State Bank of Travancore (SBT) has raised its benchmark prime lending rate (PLR) to 12.5 per cent from 12 per cent with effect from February 15. The bank has also increased the interest rate on term deposit for six months to one ...
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GOVT BONDS
Kerala to issue Rs 300-cr bonds
The Kerala Government is issuing bonds for an aggregate amount of Rs 300 crore for financing the developmental activities in the State. The bonds will be sold through auction at the Mumbai office of the Reserve Bank of India on ...
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Bond prices steady
Bond prices remained unchanged as traders stayed light after last week's crash. Total traded volumes on the order matching system were Rs 2,545 crore (Rs 2,975 crore). Prices opened weak but some value buying by foreign banks and ...
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CREDIT MARKET
Sub-prime rates moving up
Gap with PLR narrowing
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SHORT TERM INSTRUMENTS
Call rates soar
Call rates soared to 7.90-8.10 per cent today against the previous close of 6.25-6.50 per cent with the first phase of the CRR hike kicking in on Feb.17. Some banks parked Rs 85 crore with the RBI while others borrowed Rs 8, 795 ...
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