Banks to Change Sub-PLR if RBI Raises CRR
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.
Exim Bank extends $ 100 million credit for Russian bank
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.
IndusInd bank to decrease promoter stake to 10%
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.
SIDBI disburses Rs.1,500 crore to banks
The Small Industries Development Bank of India has disbursed Rs 1,500 crore to 10 banks for lending to micro/unorganised enterprises. The loan is provided upto December 1 2009. In a written reply in the Lok Sabha, Minister of State (Independent Charge) Dinsha Patel said, “SIDBI has set up a special cell for providing re-finance to banks for further… Read More »
Moody’s upgrades FC deposit ceilings of SBI, ICICI & other banks
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.
City Union bank ties up with Geojit BNP Paribas
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.
SBI gets IRDA approval for non-life venture
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.
How was 2009?!
This year we saw introduction of currency futures i.e. contracts for buying and selling foreign currencies against INR. Currencies are thought to be one of the most liquid market due to presence of countless players and 24×7 market structure. Even if NSE and BSE close, an investor sitting in US can trade INR at that… Read More »
Mutual funds, getting more investor friendly?
The mutual funds advisory committee is also looking at more reforms. The advisory is recommending the asset management companies to lower the fund management fees from the present. The fund houses currently charges 1.25% as asset management charges for the first Rs 100 crore garnered by a scheme, and 1 per cent thereafter. It is… Read More »
ETF strategies for down markets!
During a market downturn, ETFs have different provisions in everyday tools for doing allocation of assets in line with your risk appetite and tolerance and your financial goals. This way you can protect your portfolios. You can allocate assets in various classes by reducing your portfolio exposure to equity capitalizations, assets and sectors that could… Read More »