The Hindu Business Line : Tuesday, October 04, 2005

Why small banks are still not passé
CONSOLIDATION is the hot issue in Indian banking now. The Finance Minister points out that the imperatives of globalisation and the competition that it will bring in call for the emergence of mega-financial institutions which can take on the ... More

FOREX

Rupee weakens; bonds decline
MUMBAI: The rupee slid to a month's low against the greenback on Monday in tandem with the fall in other major foreign currencies and amid fears fears that foreign institutional investors (FIIs) will ease investment in India. The rupee ... More

DEBT MARKET

Banks look to deposits to meet credit demand — Gradual unwinding of bond holdings cushions impact of yield rise
BANKS have stopped liquidation of their investments and switched over to deposit mobilisation instead to fund credit growth. Bankers said that there was little necessity to sell their investments for funding credit offtake despite having high ... More

RBI & OTHER CENTRAL BANKS

RBI to extend working hours
MUMBAI: The Reserve Bank of India will extend its office working hours by 45 minutes from October 10, on weekdays, from Monday to Friday. Most RBI departments, except those that render critical support services, would remain closed on ... More

INTEREST RATES

ICICI Bank hikes NRE deposit rates
ICICI Bank increased the interest rates on its NRE savings, NRE fixed deposits and FCNR deposits. The rates on NRE savings accounts were last revised in July, while the rates for the NRE fixed deposits and FCNR deposits were revised in September, ... More

SBT revises FCNR, NRE term deposit rates
STATE Bank of Travancore (SBT) has revised the interest rates on FCNR and NRE term deposits and NRE savings bank accounts with effect from October 1, 2005. SBT has also increased the interest rate on NRE savings bank accounts from 3.70 per cent ... More

Banks expect hike in interest rates: Survey
About 75 per cent of the banks surveyed expect the interest rate to increase by 5 basis points, whereas the remaining expect it to go up by one percentage point. More

GOVT BONDS

RBI auction
MUMBAI: The Reserve Bank of India proposes to raise Rs 6,000 crore through the sale (reissue) of the 11.83 per cent government stock 2014 and Rs 3,000 crore through the sale (reissue) of the 7.40 per cent government stock 2035. ... More

PEOPLE

New CGM for SBH
HYDERABAD: Mr R.P. Sinha has taken over has the Chief General Manager (CGM) of State Bank of Hyderabad (SBH).Prior to his promotion, he was General Manager (Technology) with the bank. In 33 years of his banking career, he has successfully ... More

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