The Hindu Business Line : Money & Banking

Nov. 1: PSU Bank Benchmark Exchange Traded Scheme (PSU Bank BEES), an open-ended scheme which is an Index tracking the CNX PSU Bank Index, makes its debut on the NSE.

Nov. 6: The Reserve Bank of India advises banks to ensure that promoters of projects bring in their equity capital before the debt is advanced.

ICICI Bank cuts interest rates on special deposit schemes by 25-50 basis points and also realigns rates in some segments, effective Nov. 12.

Nov. 7 : The Reserve Bank of India further relaxes the remittance limit to $300,000 from $100,000 to importers of rough diamonds provided import bills and documents are directly procured from overseas suppliers.

The Reserve Bank of India constitutes an Internal Working Group under the Chairmanship of Mr V.S. Das, Executive Director, Reserve Bank of India, in order to examine the recommendations of the Radhakrishna Expert Group on Agricultural Indebtedness.

Nov. 22: The Life Insurance Corporation of India forms a separate company called “LIC Pension Fund Ltd” to manage pension funds.

Nov. 27: National Securities Depository Ltd will keep the pension records for Central Government employees under the New Pension System, introduced by the Union Government for its new recruits (except the Armed Forces) w.e.f January 1, 2004.

Lending to sensitive sectors by banks showed a deceleration in 2006-07, according to the Report on Trends and Progress of Banking in India 2006-07 released by the Reserve Bank of India.

Nov. 29: Mr K.V. Kamath, Chief Executive Officer of ICICI Bank, named the Businessman of the Year 2007 by Forbes Asia magazine.

Events 2007 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

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