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MONEY & BANKING
INTEREST RATES:
Oriental Bank plans to cut lending rates
New Delhi, June 26 Oriental Bank of Commerce (OBC) intends to soon bring down its prime lending rates by 25-50 basis points. This will lower its prime lending rates from the current 12 per cent up to 11.50 per ...
GENERAL INSURANCE:
PSU general insurers improve market share
Pvt players report double digit negative growth. Mumbai, June 26 Public sector general insurance companies collectively increased their market share in May. Three of them —Oriental Insurance, United India Insurance, and New India Assurance ...
LIFE INSURANCE:
Max India to raise more equity funds
May pump in Rs 700 cr in insurance subsidiary in FY ’09-10. New Delhi, May 26 Max India Ltd plans to raise equity funds of about Rs 500 crore in the next six months to part finance its planned investments in its insurance ...
LIFE INSURANCE:
Life insurers’ fresh premium collections decline in May
LIC records 11% growth, while most pvt players post significant dip. Mumbai, June 26 The life insurance industry posted a negative year-on-year growth of 5 per cent in May with most private players reporting a significant dip in fresh business ...
CREDIT MARKET:
Bank credit growth declines in Kerala
Total deposits register significant growth in 2008-09. Thiruvananthapuram, June 26 The rate of growth in bank credit in Kerala showed a decline in 2008-09 even as the deposits recorded significant growth during ...
FOREX:
Re gains tracking equity markets
The rupee appreciated by about 50 paise against the dollar, tracking the gains made by the domestic equity markets and weakening of the dollar overseas. There were ample dollar inflows, which matched the month-end demand, said forex dealers. ...
FARM CREDIT:
Govt fiat on agri debt relief
The Government has said that banks/lending institutions can accept even less than 75 per cent of the eligible amount as one-time settlement from farmers, under the Agriculture Debt Waiver and Relief (ADWR) scheme, provided the ...
FOREIGN BANKS:
Indian elevated to Shinsei Bank board
Shinsei Bank of Japan has announced the appointment of an Indian, Mr Rahul Gupta, to the board. Mr Gupta, 49, also serves as Senior Managing Executive Officer and Chief Financial Officer of Shinsei Bank. He has over 25 years experience in ...
INTEREST RATES:
Price index divergence weighs on deposit rate cuts: Usha Thorat
Kolkata, June 26 Banks consider the divergence between the Consumer Price Index (CPI) and the Wholesale Price Index (WPI) before reducing the interest rates on deposits, according to Ms Usha Thorat, Deputy Governor, Reserve Bank ...
INTEREST RATES:
Syndicate Bank to decide on interest rates next week
Manipal, June 26 Syndicate Bank is likely to take a decision on revising interest rates in ...
ALLIANCES & JOINT VENTURES:
South Indian Bank to vend LIC products
Bangalore, June 26 Private sector South Indian Bank has ended its bancassurance arrangement with ICICI Prudential Life Insurance ...
OVERSEAS INVESTMENTS:
SBI to increase share of overseas assets
Mumbai, June 26 State Bank of India is looking to increase the share of assets from overseas operations to total assets from the current 12 per cent to 25 per cent by ...
FOREX:
Forex reserves rise by $8 million
Mumbai, June 26 Forex reserves rose by $8 million to $263.652 billion for the week ended June 19, according to data released in the Reserve Bank of India’s weekly ...
GOVT BONDS:
Bond prices move up
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SHORT TERM INSTRUMENTS:
Call rates higher
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