MONEY & BANKING
OVERSEAS BORROWINGS
Indian companies borrow $31 b abroad last fiscal
ECBs accounted for a sizeable chunk of overall borrowings
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FOREX
Re on downward spiral breaches 41 level
Triggered by panic $ buying by banks
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FINANCIAL PERFORMANCE
Union Bank Q4 net more than doubles
Boosted by lower tax outgo, staff cost
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Development Credit Bank net profit rises 420%
Non-interest income, net interest income drive growth
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HOUSING FINANCE
Union Bank cuts rate on home loans
Mumbai, May 7 Union Bank of India has cut the interest rate on home loans of over Rs 20-30 lakh by 50-100 basis points depending on the tenor of the loan, on loans sanctioned after May 9, 2008. The bank is the first bank to cut the home ...
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PUBLIC SECTOR BANKS
M.D. Mallya is Bank of Baroda CMD
Mumbai, May 7 Mr M.D. Mallya has taken over as Chairman and Managing Director of Bank of Baroda on May 7. Prior to joining Bank of Baroda, he was CMD, Bank of Maharashtra, said a press release from the bank. He has also served as ...
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For prosperity
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FOREIGN BANKS
Money transfer: Idea ties up with Tata Comm, Etisalat, HSBC
Enabling UAE-based NRIs to transfer money to Kerala
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FINANCIAL INSTITUTIONS
Govt moves to recast KSFE
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CREDIT MARKET
AP pegs Rs 47,000 credit outlay for 2008-09
Hyderabad, May 7 The State Level Banker’s Committee (SLBC) has pegged the credit outlay for Andhra Pradesh at Rs 47,000 crore for 2007-08. “We have projected this outlay as against the achievement of Rs 42,773 crore at the ...
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SHORT TERM INSTRUMENTS
Call rate unchanged
The inter bank call rate ended at 5.50-5.75 per cent, unchanged from the previous close at 5.50-5.75. In the one-day reverse repo auction under the liquidity adjustment facility, the RBI received and accepted 47 bids for Rs 49,505 crore. There ...
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CREDIT CARDS & DEBIT CARDS
Citibank, Delhi Metro launch co-branded credit card
Target 2 lakh customers over the next two years
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OVERSEAS INVESTMENTS
Banks see more growth in global operations
This is despite taking a hit on derivatives exposure
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CO-OPERATIVES
Bengal state co-op bank’s farm loan recovery drops
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PEOPLE
YES Bank appointment
Ms Radha Singh has been appointed as an independent Director on the board of YES Bank. The decision was taken at a meeting of the board on April 29. Prior to this appointment, Ms Singh was the Union Agriculture Secretary between March and ...
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