Current Feed Content from 7 Oct 08 16:23
Indian banks reallocate their nostro accounts
Tue, 07 Oct 2008 12:00:00 +0530The recent financial fall of the US banks like Wachovia and Washington Mutual (WaMu) has impelled the Indian banks to move their nostro accounts with safer banks.Nostro is an account which one bank holds with a bank in a foreign country, usually in the currency of that foreign country. It is especia...DCB introduces a new fixed deposit scheme
Tue, 07 Oct 2008 11:45:14 +0530Private sector lender Development Credit Bank (DCB) has introduced a new deposit scheme -DCB Freedom 1-2-3 fixed deposit for its customers.Under the new launch scheme, the bank will offer its customers a rate of 10.5% for fixed deposit in the 375 daysto3years slab. However, Senior citizens will rece...PNB raises NRI deposit rates
Mon, 06 Oct 2008 10:33:08 +0530Country's second largest PSU bank, Punjab National Bank, declared a hike of 50 basis points in its non-resident deposits in foreign currencies including US dollar, Euro and British Pound.PNB has also increased the interest rates for rupee deposits by 50 basis points As the Indian rupee depreciated o...Bank of Rajasthan raises fixed deposit rates
Fri, 03 Oct 2008 11:49:53 +0530Bank of Rajasthan has declared an interest rate increase on its fixed deposits of different maturities. The bank's move to revise its deposit rates for certain tenure in the upward direction will give its millions of customers a reason to cheer.The interest rate for a period ranging between 1 year a...SBI raises interest rates for 1000-days deposit
Wed, 01 Oct 2008 10:09:45 +0530India's largest commercial bank, State Bank of India (SBI) increased its fixed deposit rate by 100 basis points to 10.50% for 1, 000 days maturity.This 1000-days deposit scheme is a new launch of SBI and will come into effect from October 1. Senior citizens would be given a higher 11% interest under...Realty firms to suffer more by the FMPs exit
Mon, 29 Sep 2008 12:33:42 +0530The global financial turbulence and economic slowdown has impelled investors to move away from real estate sector. Even the Mutual Funds' fixed maturity plans (FMPs) are avoiding investment in the cash-strapped realty firms.With rising interest rates and the overall slowdown in the economy, many Ind...RBI to keep interest rates stable
Fri, 26 Sep 2008 11:47:58 +0530The Reserve Bank of India (RBI) governor D Subbarao will present his mid-term credit policy review for 2008-09 on October 24. The governor is likely to hold the interest rate stable in an attempt of shifting focus to reviving growth from curbing inflation, which has shown signs of moderation in the...NRI deposits likely to rise: ICICI Bank
Fri, 26 Sep 2008 10:56:47 +0530India's largest private lender, ICICI Bank has also announced a hike in the interest rates for NRE term deposits and FCNR deposits on late Monday evening. The bank raised the interest rates by 0.50%, effective from September 17.Earlier other banks have also announced similar cuts.The one-year NRE de...HDFC escaped from Lehman Brothers Crisis
Thu, 25 Sep 2008 10:06:05 +0530Country's private lender, HDFC Bank does not face any crisis from the collapse of the US financial giant Lehman Brothers. A top official of the bank said that HCFC did not have any major exposure to the US investment bank.Jagdish Capoor, Chairman of HDFC Bank said, "I don't think the bank has any ex...Federal Bank: NRE and FNCR deposit rates to rise
Tue, 23 Sep 2008 11:53:19 +0530The Federal Bank has followed the major banks - SBI, PNB, Bank of Baroda and Union Bank of India- in increasing its interest rates for NRE term deposits and FCNR deposits. The bank has hiked the interest rates by 50 basis points with a view to improve the foreign currency inflow. Tenure Interest Ra...
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