The Hindu Business Line : Saturday, June 06, 2009

MONEY & BANKING

CREDIT MARKET: Bank credit declines second time this fiscal
Mumbai, June 5 The total bank credit fell by Rs 16,306 crore to Rs 27,35,750 crore during the fortnight ended May 22, 2009, according to the latest figures released by the Reserve Bank of ...

CONSUMER FINANCE: NBFCs on comeback trail with better rural demand
Riding on increasing vehicle sales. New Delhi, June 5 Non-banking finance companies, which had slowed down disbursements significantly in the second half of last calendar year, are looking to make a ...

PUBLIC SECTOR BANKS: Andhra Bank to open 129 branches this year
Chennai, June 5 Never in its history has Andhra Bank planned to open so many branches in a year as in 2009-10. It plans to open 129 this year, indicating that the ‘branch expansion programme’ is the exercise of a ...

FOREIGN BANKS: HSBC Pvt Banking to offer non-life insurance products
Hyderabad, June 5 HSBC Private Banking will offer non-life insurance products to its customers from next month, according to Mr Ramnath Krishnan, Managing Director and Head, HSBC India Private ...

ECONOMIC OFFENCES: Banks allowed to close fraud cases involving up to Rs 25 lakh
Mumbai, June 5 The Reserve Bank of India on Friday said that banks, subject to certain conditions, would be allowed to close the fraud cases involving amounts up to Rs 25 ...

LIFE INSURANCE: SBI Life unveils new policy in N-East
Kolkata, June 5 SBI Life Insurance has launched a group micro-insurance policy, Grameen Shakti, in the North Eastern ...

FIXED DEPOSITS: SBT trims NRE deposit rates
Thiruvananthapuram, June 5 State Bank of Travancore (SBT) has lowered interest rates for NRE term deposits with effect from June ...

FOREX: Forex reserves rise by $1.6 billion
Mumbai, June 5 The rise in foreign currency reserves moderated during the week ended May 29. According to the Reserve Bank of India’s Weekly Statistical Supplement, foreign currency reserves increased by $1.667 billion to touch ...

MORTGAGE: Call to set up mortgage guarantee fund
New Delhi, June 5 The Union Budget for 2009-10 should help establish a mortgage guarantee fund, the Chairman and Managing Director of Central Bank of India, Mr V. Sridhar, ...

PUBLIC SECTOR BANKS: PNB to open 6 branches in AP
Punjab National Bank will open six new branches in Andhra Pradesh soon, according to Mr K.K. Aravindakshan, Deputy General Manager, PNB, Hyderabad Circle. Speaking after the inauguration of its 72nd branch at Himayatnagar here, he said the bank ...