The Hindu Business Line : Wednesday, November 05, 2008

MONEY & BANKING

PUBLIC SECTOR BANKS: Banks get set to cut lending rates
Chennai, Nov. 4 Public sector banks are cutting their lending rates. Following a meeting with the Finance Minister, Mr P. Chidambaram in New Delhi, bank chairmen said that they would slash their prime lending rates by about 0.75 ...

INTEREST RATES: ‘Pricing of credit matters’
Chidambaram asks banks to submit fortnightly report on advance flows. New Delhi, Nov. 4 The Finance Minister, Mr P. Chidambaram, on Tuesday called on the banking community to not only track the credit being delivered but also ensure that it is ...

RBI & OTHER CENTRAL BANKS: RBI gives banks long rope on home loans portfolio
Bid to prevent assets from being downgraded on restructuring. Mumbai, Nov. 4 Anticipating possible deterioration in home loan portfolios of scheduled commercial banks (SCBs), the Reserve Bank of India has extended the guidelines pertaining to ...

INSIGHT: Lesson: RBI can stop the rupee on rise, not when it falls
Many, including the Finance Minister, look unhappy when the rupee rises. They seem happy when it falls. But even they cannot quite enjoy the rupee’s 27 per cent plus fall against the dollar in the past 10 months. Market economics would ...

FIXED DEPOSITS: Tea growers seek abolition of TDS on deposit interest
Coonoor, Nov. 4 The Nilgiris Small Tea Growers’ Association has appealed to the Union Finance Minister, Mr P. Chidambaram, to abolish Tax Deduction at Source (TDS) on interest paid on bank ...

FOREX: Rupee gains 95 paise
Mumbai, Nov. 4 The rupee appreciated by 95 paise, its biggest single day gain against the dollar in almost a decade, to close at 47.69 to a dollar as against the previous close of 48.64, buoyed by the gains in the equity market and ...

INTEREST RATES: Indian Chamber wants banks to act on rate cut
Coimbatore, Nov. 4 The high rate of interest is hurting the industries, particularly SMEs, and despite the indication of the Reserve Bank of India about softening of interest rates, the banks are postponing a decision in this regard, according ...

TRADE & LABOUR UNIONS: Insurance employees oppose further liberalisation
Bangalore, Nov. 4 The All India Insurance Employees’ Association has opposed further liberalisation of the insurance ...

RBI & OTHER CENTRAL BANKS: Departure from inflation-targeting
The Reserve Bank of India’s moves to spur the economy through repeated cash reserve ratio and repo rate cuts are all very well. But one wished it explain the current turbulence by providing more theoretical insight and perspective, ...

OUTLOOK: Mutual funds: A brewing scam?
The next (if not current) big story is the possible collapse of many Indian mutual funds. As usual, the victims are hapless ...

INTEREST RATES: Relief for corporate, retail borrowers
Chennai, Nov. 4 Corporates and retail borrowers are likely to get some relief from banks ...