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MONEY & BANKING
RBI & OTHER CENTRAL BANKS:
Reserve Bank cuts repo rate to ease credit squeeze
Banks say they will look at reducing the interest rates. Mumbai, Oct. 20 Ahead of its monetary policy review scheduled later this week, the Reserve Bank of India on Monday slashed its key short-term interest rate – Repo rate – by ...
RBI & OTHER CENTRAL BANKS:
Another step to improve liquidity: Chidambaram
New Delhi, Oct. 20 The Finance Minister, Mr P. Chidambaram, on Monday said that the 100 basis point cut in repo rate was another measure in the series of steps announced since October 6 to improve liquidity in the ...
CRR & BANK RATES:
Sensex gains 247 points in a volatile market
Mumbai, Oct. 20 The Sensex ended a volatile session on Monday with a gain of 247 points, after three days of continuous decline. The benchmark index closed at 10223.09, up 2.48 per cent from Friday’s ...
GOVT BONDS:
Approval sought for issuing oil bonds worth Rs 65,942 cr
Demand for grants put at Rs 2,37,265 cr. New Delhi, Oct. 20 The Union Finance Minister, Mr P Chidambaram, on Monday sought Parliament nod for issuing oil bonds worth Rs 65,942 crore to oil marketing companies towards estimated “under ...
FINANCIAL PERFORMANCE:
Canara Bank Q2 net rises 32% on improved income
To await Credit Policy for decision on lending rate cuts: Mahajan. Bangalore, Oct. 20 Canara Bank has ruled out any immediate cut in the benchmark prime lending rate (BPLR) after the Reserve Bank of India cut repurchase rate to 8 ...
FINANCIAL MARKETS:
M&A value dips 20% in Sept
Global liquidity crisis will help whet domestic acquisitions appetite. Mumbai, Oct. 20 With the financial crisis looming large, the value of merger and acquisition (M&A) deals announced in September dipped 20 per cent to $3.69 billion ...
FOREX:
Rupee closes tad lower
The rupee closed lower against the dollar on Monday on dollar buying by corporates and importers, despite intervention by the central bank. The 100 basis points cut in the repo rate by the RBI helped the rupee only temporarily, said dealers. ...
CREDIT MARKET:
Bank loans to MF: Scheme on
The Reserve Bank of India has decided to continue with the relaxations of allowing banks to lend to mutual funds against Certificate of Deposits (CDs) as well as the buy back of CDs held by mutual funds. The relaxation would continue to be in ...
INTEREST RATES:
Banks may reduce lending, deposit rates
To await Credit Policy direction, market developments before any decision on rates. Mumbai, Oct. 20 Banks may reduce their lending rates, both corporate and retail, after the Reserve Bank of India cut the repo rate by 100 basis points, on ...
FINANCIAL POLICY:
Repo rate cut ahead of monetary policy surprises stock analysts
Mumbai, Oct. 20 Stock market analysts were taken by surprise when Reserve Bank of India cut the benchmark policy repo rate by one percentage point on Monday, four days ahead of the ...
CRR & BANK RATES:
Corporates hopeful repo rate cut will ease credit squeeze
Mumbai/New Delhi, Oct. 20 Corporates are hopeful that the Reserve Bank of India’s latest cut in its short-term lending rate by 100 basis points, to 8 per cent, will bring some relief from the prevailing credit ...
PUBLIC SECTOR BANKS:
UCO Bank, PSB get nod for capital rejig
New Delhi, Oct. 20 The Government has sought Parliament nod for equity capital restructuring of Punjab & Sind bank (PSB) and UCO Bank. While PSB is wholly owned by the Government, the Centre has a 74.98-per cent stake in ...
FINANCIAL PERFORMANCE:
Increased provisioning hits SBM’s Q2 net
Bangalore, Oct. 20 State Bank of Mysore has reported a net profit of Rs 90.16 crore for the second quarter of the current financial year. The profits were down 1.11 per cent over the corresponding quarter of the last financial year. The dip ...
CRR & BANK RATES:
‘No immediate impact likely’
Hyderabad, Oct. 20 Mr R.S. Reddy, Chairman and Managing Director, Andhra Bank, said: “The repo rate cut is only a signal that the rates may be cut over a period of time. In the short term, I don’t expect that this would ...
CRR & BANK RATES:
Repo cut indicates rates may have peaked
Ability to source deposits to affect loan. The Reserve Bank of India announced on Monday that it would cut the repo rate (the rate at which banks borrow money from RBI) with immediate effect under Liquid Adjustment Facility by 100 basis points ...
CRR & BANK RATES:
‘Welcome measure’
Dr V.A. Joseph, CEO, South Indian Bank, said things were very volatile at present, and bankers generally were waiting to see how the market would improve. ‘The CRR cut helped provide liquidity support. The reduction in the repo rate will ...
GOVT BONDS:
Dull trading in bond markets
Trading in bond markets remained dull on Monday, even though the 100 basis point repo cut by the RBI triggered some receiving interest. The markets took the repo cut as a signal indicating a reversal of interest rate regime, said dealers. ...
CREDIT RATING:
Ratings to SBI Life
Rating agency ICRA has assigned iAAA rating to SBI Life Insurance Company Ltd. The rating indicates the highest claims paying ability of SBI Life. The iAAA rating takes into account SBI Life’s strong parentage, growth exhibited over ...
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