Govt may buy RBI’s stake in NABARD
Government of India may buy RBI’s stake in the National Bank of Agriculture and Rural Development (NABARD) in the next fiscal. The Government had allocated Rs. 1450 crore in this budget.
Category Archives: News
RBI says, more disclosures required about NPAs
RBI has said that the banks need to disclose more details about their Non Performing Assets (NPAs). The apex bank has said that an in-depth information is needed about the market workings of the banks, including the list of their main 20 depositors, 20 biggest borrowers, 4 biggest NPAs on the books of the banks… Read More »
Public sector banks to obtain Rs. 35,000 crores from center
Over the next 2 years, public sector banks will get Rs. 35,000 crores from Center. This measure has been taken in order to meet the credit needs of the economy. According to the RBI norms, at least 6% Tier I capital must be kept by the banks. The planned capital infusion will let the banks… Read More »
IDBI bank offers perpetual bonds to raise capital of Rs. 3,00 crores
IDBI Bank intends to raise Rs. 300 crore this month by issuing perpetual bonds. Mr. P Sitaram, chief financial officer, IDBI Bank said, “The amount raised will be to meet Tier-I capital requirement of the bank.” A perpetual bond is a bond without a maturity or redemption time. The holder of this bond can earn… Read More »
Visa, RBS, Global Payments shorlisted by SBI for POS
State Bank of India (SBI) has shortlisted 3 applicants as prospective associates for a joint venture to install 5 lakh swipe machines for credit and debit cards throughout the country. These applicants are Visa, Royal Bank of Scotland (RBS) and Global Payments. SBI has been looking to reach leadership position in electronic networks. SBI has… Read More »
New base rate to be made effective from 1st July
Giving in to the banks’ demand, the Reserve Bank of India has delayed the date of implementation of the planned base rate system to 1st July and also removed 3 types of loans from the new model. This means the rates on old home loans will not change till 1st July. Usha Thorat, RBI Deputy… Read More »
StanC’s Indian arm earns $1-b net profit
The profit from Indian arm of Standard Chartered has exceeded the $1 billion mark for the 1st time. The profit before tax for the year 2009 went up by 19% to 1.06 billion from $891 million last year. Actually, the Indian arm of the emerging markets bank is turning out to be the biggest profit… Read More »
ICICI Bank employees have a reason to cheer
The year 2010 has brought a smile on the face of the ICICI bank employees as the bank is likely to offer bonuses to most of its 36,000 employees for the period 2009-10 by April. The bank had not offered bonuses in 2008-09 due to the worldwide financial crisis. In this year, it is for… Read More »
Private banks increase car and home loan rates
HDFC Bank, ICICI Bank and Kotak Mahindra have increased rates on home and auto loans, highlighting the hardening market that may cause RBI to hike interest rates to combat inflation. These banks have increased lending rates by as high as 100 basis points, subsequent to the stiffening of the interest rate, despite RBI trying to… Read More »
ICICI Bank removes fixed rate home loan scheme
In a clear indication of an increasing interest rate scenario, India’s biggest private sector bank, ICICI Bank said it has increased its car loan rates by up to 0.5% and removed its special home loan scheme offering loans at 8.25%.