The Hindu Business Line : Money & Banking

The Central Board of Trustees of Employees Provident Fund Organisation amends the provident fund scheme to enable the organisation to pay interest at the last decided rate, so that retiring persons need not wait till interest rate is formally notified by the Finance Ministry.

The shareholders of Mandvi Co-operative Bank will get one share of Saraswat Bank for every share held in Mandvi.

Punjab National Bank receives in-principle approval from the UK’s financial sector regulator to operationalise its subsidiary in London.

Apr. 5: Bank of Baroda marks up its prime lending rate by 75 basis points to 13.25 per cent per annum with immediate effect.

Apr. 7: State Bank of India hikes all loan rates.

Apr. 10: The Pension Fund Regulatory and Development Authority selected National Securities Depository Ltd as the Central Record Keeping Agency for the New Pension Scheme.

Apr. 11: ICICI Bank fined Rs 2.2 lakh by the Eastern Magistrate’s Court, Hong Kong, for dealing in securities (mutual funds and other fee-based products) without a licence between June 15, 2004 and Mar. 8, 2006, at its Hong Kong branch.

Apr. 13: The SEBI permits the BSE and the NSE to set up corporate bond trading platforms from July 1.

Forex reserves vault over the $200-billion mark for the week ended April 6 on strong dollar inflows.

Apr. 14: RBI says it will not pay interest rate on CRR balances of banks, effective Mar. 31, 2007.

Apr. 17: Indian Overseas Bank secures the Reserve Bank of India’s approval for starting a financial services subsidiary.

Apr. 18: Leading public and private sector banks would have to increase their Tier-I capital by about Rs 51,255 crore within March 31, 2009, including raising Rs 45,521 crore from the capital market to meet the Basel-II requirements on minimum capital adequacy of 9 per cent. RBI tells Government.

The RBI rejects the request of public sector banks to phase out the increased provisioning requirement on standard assets with respect to exposure to real estate, capital market, NBFCs and personal loans.

Apr. 19: BankMuscat acquires 43 per cent stake in the holding company of the Mangal Keshav Group.

Urban co-operative banks’ funding of medium enterprises will not form a part of priority sector lending, says the Reserve Bank of India.

Apr. 20: IDBI Bank sells its entire stock of loans given to Southern Petrochemical Industries Corporation to the Asset Reconstruction Company (India) Ltd.

Apr. 24: RBI relaxes controls on dollar spend in its Annual Policy Statement.

Indian companies allowed to remit up to $10 million for infrastructure consultancy services against the current limit of $1 million

RBI’s annual policy allows individual investors to hedge their foreign exchange exposures, including anticipated exposures.

RBI reduces the risk weight on residential housing loans to individuals from the existing 75 per cent to 50 per cent.

The Reserve Bank of India lifts the ban on setting up new urban co-operative banks.

Apr. 25:Small and marginal farmers, share-croppers and others will not have to give a "no dues" certificate to banks for loans up to Rs 50,000.

Apr. 26: India becomes the twelfth country in the world to become a trillion-dollar economy, a report from Swiss investment firm Credit Suisse says.

Apr. 27: The Reserve Bank of India further revises the ceiling for outstandings under the Market Stabilisation Scheme for 2007-08 to Rs 1,10,000 crore.

Apr. 28: Indian banks having foreign branches and foreign banks operating in India will have to migrate to Basel II norms from Mar. 31, 2008, according to an RBI release.

Apr. 30: Dr P.J. Nayak is back at the helm of UTI Bank, rechristened Axis Bank, as whole-time Chairman with full powers.

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

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