The Hindu Business Line : Money & Banking

Feb. 1: The Union Cabinet gives its nod for the transfer of ownership of Reserve Bank of India’s shareholding in State Bank of India to the Government by June.

Feb. 2: Sundaram Finance buys out the 25 per cent stake held by multilateral lending agencies, FMO of Netherlands and IFC, Washington, in Sundaram Home Finance Ltd for a consideration of Rs 48.52 crore.

Feb. 5: To check any possible interference of depositories in the management of banks, issuing American Depository Receipts or Global Depository Receipts, the RBI advises banks to furnish a copy of each of the depository agreements entered into.

Feb. 7: IDBI Bank auctions off its 1,04,381 sq ft property on Boat Club Road, an up-market residential locality in Chennai, for Rs 175 crore. The property is bought through an electronic auction by a `high net worth individual, whose name was not disclosed.

Feb. 8: The Reserve Bank of India relaxes norms for FIIs to rebook cancelled forward contracts. Banks will now allow FIIs to cancel and rebook forward contracts up to 2 per cent of the market value of their investments in equity and-or debt in India.

Feb. 10: Indian Bank fixes the price at Rs 91 (upper end of the price band) per share for its initial public offer of 85,950,000 equity shares of Rs 10 each for cash at a premium.

Feb. 13: RBI hikes cash reserve ratio 50 basis points in two stages: From 5.5 per cent to 5.75 per cent (effective Feb. 17) and then to 6 per cent (Mar. 3)

Bond prices tumble by around 85 paise during the day reacting to statements made by the Reserve Bank of India Deputy Governor, Dr Rakesh Mohan, on inflation being a concern.

Feb. 15: The Indian Banks’ Association launches a pilot project on trade finance using the structured financial messaging system (SFMS).

IDFC, Citi, IIFCL and Blackstone Group come together for infrastructure financing. To deploy about $2 billion in equity capital.

HDFC Bank signs a memorandum of understanding with an Italian bank, Banca Monte dei Paschi di Siena, to offer banking services to each other’s corporate customers engaged in business activity in their respective countries.

Feb. 19: State Bank of India raises its benchmark prime-lending rate by 75 basis points to 12.25 per cent per annum, effective Feb.. 20.

Feb. 21: SEBI lifts the ban on Centurion Bank of Punjab Ltd on opening of fresh demat accounts.

The Reserve Bank of India issues guidelines for banks on "Doorstep Banking" allowing banks to either deploy their employees or hire agents to extend these services.

The City of London Corporation, a provider of local financial and government services launches its India Advisory Council.

Feb. 22: Morgan Stanley and JM Financial announce they will be ending their seven-year partnership in the investment banking and securities businesses.

Feb. 23: The RBI asks a section of big non-banking finance companies to furnish details of their exposure to large borrowers (corporates and other entities) for procurement of foodgrains

ICICI Bank hikes rates on retail loans by 50 basis points while keeping the benchmark advance rate unchanged at 14.75 per cent.

Feb. 26: Cholamandalam MS General Insurance wins the mandate to provide non-aviation related insurance cover to Air India for 2007-08.

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

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