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MONEY & BANKING
INTEREST RATES:
Banks take cue from RBI, cut rates
‘Asset quality concerns being addressed’. Mumbai, March 5 Banks have started cutting lending and deposit rates. After the Reserve Bank of India announced a 50-basis-point cuts in repo and reverse repo rates on Wednesday, at least ...
INTEREST RATES:
Another push
That the Reserve Bank of India would step in with its rescue act was beyond doubt given the sufficient hints from New Delhi policymakers. Expectedly, the central bank has further reduced its key repo and reverse repo rates by half a percentage ...
CREDIT MARKET:
Banks see marginal rise in term credit to SMEs
Units hit by demand slump; go for working capital withdrawals. Bangalore, March 5 Hit by a slump, the small and micro sector has shifted from term credit to working ...
INTEREST RATES:
Policy rate cuts have no impact on daily auctions
Few avenues to park surplus liquidity. Bangalore, March 5 The Reserve Bank of India’s cut in the policy rates failed to make any impact at the daily Liquidity Adjustment Facility ...
PRIVATE BANKS:
YES Bank to use RFID tech
...
FOREX:
Rupee weakens; RBI intervenes
The rupee closed lower due to strong dollar demand from domestic corporates. However, intervention by the Reserve Bank of India helped stem the losses, said forex dealers. The rupee opened higher at 51.45 and touched the day's low of 52.18, ...
SHORT TERM INSTRUMENTS:
Call rates close lower
The inter-bank call rate closed lower at 3.55-3.65 per cent, against the previous close of 4-4.10 per cent. In the one-day repo auction under the first liquidity adjustment facility (LAF), there were no bids. In the reverse repo auction, the ...
HOUSING FINANCE:
SBH offers home loans at 8%
State Bank of Hyderabad (SBH) is offering housing loans at 8 per cent interest for a period of one year from the date of disbursement. From the second year, the regular contracted rate would be applicable on these loans, the bank said in a ...
FINANCIAL INSTITUTIONS:
Equitas Micro Finance launches skill training to SHGs
Chennai, March 5 One-year-old Equitas Micro Finance has introduced skill training called ‘Equitas Gyan Kendra’ which imparts spoken English, electrical work, plumbing and painting added to traditional skill development of self ...
CREDIT RATING:
Now, ‘simple’ is in
CRISIL COMPLEXION. Chennai, March 5 Keep it simple, is what journalists, writers and speakers are told – if they want to connect with their ...
INTEREST RATES:
‘Rate cuts on expected lines’
Chennai, March 5 The Reserve Bank of India cut the repo rate to 5 per cent from 5.5 per cent which means banks can borrow short-term funds from the RBI at a cheaper ...
INTEREST RATES:
‘RBI move may prompt banks to cut rates’
Close on the heels of the Reserve Bank of India reducing its policy rates, the Economic Affairs Secretary, Mr Ashok Chawla, today said that this move could push public sector commercial banks to reduce their lending ...
CONSUMER FINANCE:
Tata Motors ties up with PNB for car loans
Mumbai, March 5 Tata Motors has tied up with Punjab National Bank (PNB) for providing loans to its car customers. PNB, one of the largest public sector banks, will provide loans up to 90 per cent of the invoice value of a Tata Motors car ...
NEW PRODUCTS & SERVICES:
Max NY Life plans new health covers
Kolkata, March 5 Max New York Life Insurance plans to launch new products in the health insurance and retirement benefit segments by the year-end, according to Mr Rajit Mehta, Chief Operating Officer of ...
FINANCIAL INSTITUTIONS:
Tamil Nadu microfinance body to raise Rs 50 cr shortly
Chennai, March 5 Grama Vidiyal Micro Finance Ltd (GVMFL), the largest microfinance institution in Tamil Nadu, will go for its second round of equity funding of about Rs 50 crore ...
RBI & OTHER CENTRAL BANKS:
RBI may collect data of new housing units
Mumbai, March 5 The Reserve Bank of India may compile data of newly built residential units in urban areas on a quarterly basis for the housing start up ...
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