Leading public sector lender HDFC plans to disburse Rs 3,000 crore over the coming two-months under its special housing loan plan, launched early this month and offering an interest rate of 8.25 per cent.
In the wake of possible Cash Reserve Ratio hike, banks are considering increasing the sub-prime lending rate, while keeping the benchmark prime lending rate (BPLR) untouched.
The Export-Import Bank of India has extended a $100-million Line of Credit to Vneshecomobank, the Russian State-owned Bank for Development and Foreign Economic Affairs. The agreement was signed by Chairperson and Managing Director, Exim Bank of India, Ms. Ravneet Kaur and the Chairman of Vnesheconombank, Mr Vladimir Dmitriev.
Private sector bank, IndusInd Bank has presented its plan to the Reserve Bank, to bring down the promoter stake to the compulsory 10 per cent over the next 2-3 years.
Moody’s has upgraded the long-term foreign currency deposit ratings of 14 domestic lenders, which include State Bank, ICICI Bank, Axis Bank, Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Exim Bank, HDFC Bank and IDBI Bank amongst others.
Private sector bank, City Union bank Limited launched its Online Trading product ‘Cub-Share-Trade’ in association with leading financial services provider, Geojit BNP Paribas. The Memorandum of Understanding was signed by Managing Director and CEO, City Union Bank Ltd., Mr. S. Balasubramanian and Managing Director, Geojit BNP Paribas Financial Services Ltd., Mr. C J George.
Public sector lender, State Bank of India, has received final approval for its general insurance subsidiary from the Insurance Regulatory Development Authority. State Bank of India has entered into a joint venture with Australia-based Insurance Australia Group (IAG) to form SBI General Insurance.
Central bank of India has entered into an agreement with Star Union Dai-ichi Life Insurance to launch a scheme that assures life-time annuity for senior citizens opting for a reverse mortgage loan from the bank.
As a consequence of the RBI‘s decision to restore the all-in-cost ceilings on external commercial borrowings (ECBs) with effect from January 1, banks may see improved credit demand, especially from mid-rung and smaller companies.
Central Bank of India plans to raise Rs 400 crore through a bond issue in two months, and may also get Rs 700 crore as fresh capital from the government.