State Bank of India (SBI) will be the largest recipient of the government’s decision to offer farmers more time to repay their loan. In his budget speech, finance minister said that the government will increase the repayment duration under one-time settlement (OTS) scheme by 6 months till June 2010.
The country’s biggest carmaker, Tata Motors posted an increase of 58% in its sales for the month of February. It sold 69,427 units, as compared to 43,811 units sold in February previous year.
Finance Minister Pranab Mukherjee intends to increase the area-wise spread of banks and mentioned in his budget speech that RBI was thinking about permitting more private players in banking.
Realty major DLF has sold out 1,200 autonomous floors worth Rs 500 crore in the initial stage of its integrated township at Panchkula (Haryana) within a week of commencing the project. DLF has sold over 1,200 autonomous floors, covering 2 million sq ft of built up area from the commencing of the project on February… Read More »
The Reserve Bank of India intends to bring in a new set of rules on the Business Correspondent (BC) system as a step ahead in its aim of speeding up financial inclusion in all unbanked parts of India. The BC system was introduced by the RBI in 2006 in which NBFCs that don’t accept public… Read More »
State Bank of India (SBI) is intending to raise about Rs 10,000-20,000 crore by the way of rights issue and is sure that a proposal along these lines might be announced in the budget. OP Bhatt, chairman of SBI told during the next 5 years, SBI will require Rs 40,000-50,000-crore capital, along with tier-II capital… Read More »
The Asian Development Bank (ADB) will loan $ 300-million to help India grow its micro, small and medium enterprises, the bank said in a statement here. The statement said, “The ADB Board of Directors today approved a sovereign loan of $ 50-million and a partial credit guarantee of up to $ 250-million for the micro,… Read More »
Leading bankers cheered the Union Budget 2010-11, especially the steps taken on farm loan repayment, capital infusion in PSBs and interest rate funding to underprivileged sections, saying that these would improve the health of the system. State Bank of India’s chief financial officer, S S Ranjan, said that the budget was geared towards growth and… Read More »
Leading car manufacturer, Tata Motors said it will hike the prices of its cars after the Government’s decision to hike central excise duties to 10%. The Government increased excise duties by 2% to 10% on all non-oil products as a step towards withdrawal of stimulus actions with Finance Minister Pranab Mukherjee saying the economy was… Read More »
With significant reduction in personal income tax and expansion of interest subvention can push up demand, expansion of 80IB (10) benefit for another year provides solace for overdue eligible projects. Real Estate sector which is gradually coming out of the mid 2008 recession, has obtained good assistance from Union Budget 2010-11. While the budget has… Read More »