Current Feed Content from 13 Oct 08 11:29
RBI declares a 100 basis points cut in the CRR
Mon, 13 Oct 2008 11:08:26 +0530The Reserve Bank of India on Friday announced a further reduction in cash reserve (CRR) by 100 basis points to 7.5% from 8.5%. On October 6th 2008, RBI had cut the CRR by 50 basis points to boost liquidity in the system.This cut in CRR is expected to inject about Rs 60, 000 crore into the system agai...SBI to finally provide general insurance
Fri, 10 Oct 2008 11:11:32 +0530The largest lender, State Bank of India, is all set to undertake the general insurance sector. The bank is going to finalize its terms of joint venture with Insurance Australia Group (IAG) by the next few weeks.SBI's Chairman O P Bhatt said, "It (general insurance joint venture) is at the final stag...Crisil puts Citi’s debt instruments under watch
Fri, 10 Oct 2008 10:21:18 +0530Rating agency Crisil has placed long term debt instruments of a host of Citibank arms on ‘ratings watch with negative implications.'A statement from Crisil said, "The long-term ratings have been placed on watch following continued pressure on Citigroup Inc's performance from write-downs on its...Gold purchases face restricted credit options
Wed, 08 Oct 2008 10:25:32 +0530Gold is always considered to be attractive and with festive season around the corner, Indian banks have started promoting gold coin purchases at their branches. However, a loan to purchase gold is yet not a common thing in the country. Most banks loan portfolios have not been matched with loan optio...Allahabad Bank’s puts Rights Issue on the backburner
Tue, 07 Oct 2008 10:43:03 +0530Allahabad Bank has shelved its plans to raise funds through a rights issue and perpetual debt. The bank says it has sufficient means to raise up to Rs 2, 500 crore through tier I and II capital.In June, the bank's board had approved a Rs 149 crore rights issue proposal to seek permission of the finan...SBI, GIC Re mark up in the ladder of global ranking
Mon, 06 Oct 2008 10:56:21 +0530The current sub-prime crisis has created havoc in the world financial markets where few majors have either departed or lost their positions as top banks and financial institutions. At this time the Indian public sector banks and financial institutions are trying hard to make their appearance more pr...ADB to grant loans to revive ‘khadi’ industry
Mon, 06 Oct 2008 10:05:10 +0530The Asian Development Bank (ADB) is lending $150 million to help India revive the popularity of ‘khadi', a widely-revered handspun and hand-woven cloth promoted by Mahatma Gandhi. This move seems to be a fitting tribute to Father of the Nation Mahatma Gandhi, on his birth anniversary.The khadi...Tata Capital to start its retail loan business
Fri, 03 Oct 2008 13:02:52 +0530Retail loan segment is where Tata Capital Ltd (TCL) is eying now. The company plans to start its two-wheeler financing and home financing operations later this fiscal.TCL MD and CEO Praveen P Kadle said, "By this year end, we want to enter two-wheeler financing segment, though it involves a big risk...Money Monitor: latest launch of YES Bank
Fri, 03 Oct 2008 12:28:41 +0530Private sector lender, Yes Bank has announced the launch of "Money Monitor", an online account aggregation service powered by Yodlee, which will enable its customers to evaluate their net worth on a regular basis. It is the first its kind in India and will ease customers in managing their money and...UCO Bank to open its financial subsidiary
Fri, 03 Oct 2008 12:09:17 +0530State-run, UCO Bank is soon going to start its financial service arm in the country. The bank expects to receive approvals from the Reserve Bank of India and SEBI for its new project in a month's time.S K Goel, Chairman and Managing Director of the bank states: "We have short-listed four corporates...
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