The Hindu Business Line : Tuesday, April 03, 2007

FINANCIAL SERVICES
6 reasons why Mumbai must be financial hub
The High Powered Expert Committee (HPEC) looking into issues necessary to make Mumbai an international financial centre has identified six advantages that India has in creating such a centre. In the report released on Monday, the committee ... More

AWARDS & HONOURS
HDFC Bank chief wins award
Mr Aditya Puri, Managing Director and CEO of HDFC Bank, has won the `The Asian Banker Leadership Achievement Award 2006 for India', a press release from the bank said. The awards were announced last week at Jakarta, Indonesia, at ... More

FINANCIAL INSTITUTIONS
Srei hikes rate by 150 bps
Srei Infrastructure Finance has increased its benchmark rate by 150 basis points to 13 per cent. A press release issued by the company has quoted Mr Hemant Kanoria, Vice-Chairman and Managing Director, referring to the rising ... More

GOVT BONDS
Currency spot market key to making Mumbai global hub: Panel
For making Mumbai global hub More

NON-PERFORMING ASSETS
Realty loans turning sticky for banks
EMI defaults on the rise; tenures get stretched More

CREDIT MARKET
HDFC hikes retail lending rates by 50 bps
Home loan borrowers will be scarred with Housing Development Finance Corporation raising its retail prime lending rates by 50 basis points, on which its adjustable rate home loans (ARHL) are benchmarked, effective April 1. For all new home loan ... More

TN Electricity Board signs pact for Rs 16,000 cr loan
The Rural Electrification Corporation (REC) will provide Rs 16,000 crore loans to the Tamil Nadu Electricity Board (TNEB) over the next five years to fund its expansion programme. According to an official press release, an agreement that ... More

MORTGAGE
`Significant' foreign investments likely in mortgage guarantors
RBI issues draft guidelines More

FIXED DEPOSITS
LVB cuts dollar deposit rates
Lakshmi Vilas Bank has effected a downward revision in interest rate on FCNR dollar and NRE deposit with immediate effect. The interest rate on FCNR (B) dollar deposit has dipped marginally from 4.99 per cent to 4.97 per cent ... More

Banks trim NRE rates
State Bank of India and Union Bank of India have revised interest rates on FCNR (B) deposits effective April 1, with Bank of Baroda following from April 3. Union Bank of India and Bank of Baroda have also revised interest rates ... More

Andhra Bank cuts NRE rates
Andhra Bank has revised interest rates on Non-Resident (External) term deposits with effect from April 1, 2007. According to a release issued here on Monday, the interest on NRE term deposits between one year and above and less ... More

ADVERTISING
SBI top spender in banking print ads
The year 2006 saw a 3 per cent dip in banking sector ad volumes in the print medium over 2005. However, according to a survey conducted by AdEx India, there was a growth of 10 per cent compared with the year 2004. While public ... More