The Hindu Business Line : Saturday, August 08, 2009

MONEY & BANKING

TRADE & LABOUR UNIONS: Banks, unions back to the negotiating table
New Delhi, Aug. 7 With the two-day bank strike bringing banking operations to a halt in most parts of the country, the Indian Banks’ Association (IBA) now appears ready for a climbdown. Both the IBA and the United Forum of Bank ...

CREDIT MARKET: Banks want comfort letter from Govt for AI loan recast
New Delhi, Aug. 7 Banks and financial institutions are seeking what amounts to a sovereign guarantee from the Government for converting Air India’s high-cost debt into a ...

CORPORATE BONDS: PSBs help one another in fund raising efforts
Support enables keeping their risk-weighted asset ratios high. Bangalore, Aug. 7 Public sector banks (PSBs) are supporting each other in their respective capital ...

INTEREST RATES: IDBI Bank cuts deposit, auto loan rates
IDBI Bank said it is cutting the rates on domestic term deposits across various maturities by 25 to 50 basis points, with effect from August 12. Following the cut, the rate on deposits of up to Rs 15 lakh, having maturity of one year to less ...

REGULATORY BODIES & RULINGS: IRDA to bring out White Paper on motor third-party insurance
Portal soon to keep tabs on claims processing. Chennai, Aug. 7 Motor insurance has been a loss-making portfolio for most insurance companies. A solution that will satisfy all segments of the industry is yet to be found. Even the compromise of a ...

INTEREST RATES: Pressure on interest rates likely in second half: Economists
Thiruvananthapuram, Aug. 7 The question now is when the lending rates would rise, and not whether. This is the view of the economists who took part in a random Business Line ...

INTEREST RATES: Interest rates may go up next year: DSP Merrill
RBI may turn focus on inflation. Mumbai, Aug. 7 As the Indian economy starts to recover, the Reserve Bank of India might look at reversing the interest rate cuts over the last year, said Mr Jyotivardhan Jaipuria, Managing Director and Head of ...

FINANCIAL SERVICES: Money Gram, Thomas Cook plan road show
Kochi, Aug. 7 Money Gram International, global money transfer company, and Thomas Cook India Ltd are organising a 30-day road show called Onam 2009 in ...

HOUSING FINANCE: SBI unveils new home loan scheme
Mumbai, Aug. 7 State Bank of India on Friday introduced a new home loan scheme whereby a borrower can take a home loan up to Rs 5 lakh at 8 per cent (fixed interest rate) for five ...

GOVT BONDS: RBI rejects all G-Sec bids
The Reserve Bank of India rejected all the bids submitted at Friday’s auction of three government securities for raising an aggregate amount of Rs 12,000 crore. Market players said the central bank’s action indicates its ...

CREDIT MARKET: Bharti Airtel seeks $1-billion loan from SBI
New Delhi, Aug 7 Bharti Airtel has approached State Bank of India for loans of $1 billion and Rs 5,000 crore, according to the Minister of State for Finance, Mr Namo Narain ...

CREDIT CARDS & DEBIT CARDS: Prepaid Forum India chapter
Mumbai: International trade association Prepaid International Forum on Friday launched a chapter in India with about 14 entities, including banks, and payment schemes ...