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MONEY & BANKING
FOREIGN BANKS:
Illegal money issue to be vigorously pursued
New Delhi, June 4 The President, Ms Pratibha Patil, today told Parliament that the Government would “vigorously pursue” the issue of illegal money stashed by Indian citizens in overseas numbered bank accounts. This would be done ...
INTEREST RATES:
ICICI Bank cuts retail floating, lending rates by 50 bps
Mumbai, June 4 ICICI Bank, the country’s second largest bank, on Thursday cut its Floating Reference Rate (FRR) for retail loans as well as its benchmark advance rate by 50 basis points each even as State Bank of India, ...
FARM CREDIT:
Govt may hike subvention on farm credit to boost offtake
Banks set to benefit from the proposed move. Bangalore, June 4 The Government is likely to increase the subvention on loans to the agriculture sector giving a fillip to raise farm ...
OVERSEAS INVESTMENTS:
BoB, IOB, Andhra Bank to set up subsidiary in Malaysia
Mumbai, June 4 Bank of Baroda, Indian Overseas Bank and Andhra Bank signed here on Thursday a joint venture agreement for setting up a subsidiary in Malaysia — India BIA Bank ...
CONSUMER FINANCE:
IOB, TVS Motor sign pact
Indian Overseas Bank (IOB) on Thursday signed a memorandum of understanding with TVS Motor Company Ltd for extending loans for purchase of TVS King autorickshaws and commercial three-wheelers. A press release from the bank said the objective of ...
PUBLIC SECTOR BANKS:
SBI inks pact with ISB for research cell on public sector leadership
Mumbai, June 4 State Bank of India (SBI) on Thursday said it will launch the second edition of its ‘Parivartan’ (change management programme) in September to bring about an attitudinal/behavioural shift in employees’ approach ...
TRADE & LABOUR UNIONS:
Bank unions, IBA talks fail
New Delhi, June 4 Thursday’s conciliatory talks involving the unions and the Indian Banks’ Association (IBA) ...
CREDIT MARKET:
Banks urged to provide special relief to MSMEs
Kochi, June 4 The Deputy Governor of Reserve Bank of India, Ms Usha Thorat, has suggested that banks adopt favourable lending procedures towards micro, small and medium enterprises (MSMEs) badly hit by the economic ...
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