MONEY & BANKING
INSIGHT
Frauds in those good old days
Amiya Kumar Bagchi, director of the Institute of Development Studies, Kolkata, wrote the history of State Bank of India a decade ago. The book, originally published by Oxford University Press, is now out as a Penguin Portfolio title The ...
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Non-Banking Sector — Needed, a developmental authority
Regulated as the non-bank entities are by different agents, an integrated financial market is conspicuous by its absence. It is time for a unified regulatory agency, which alone can leverage the sector's strengths to ensure faster economic growth.
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FOREX
Rupee marginally higher
Currency markets worldwide are hardly seeing movement as liquidity drops going towards the year-end, said dealers. In the domestic market the rupee closed marginally higher on Wednesday on global dollar weakness. The rupee ...
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LIFE INSURANCE
Bharti teams up with AXA for life insurance foray
Mutual fund, non-life venture likely in the near future
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DEBT MARKET
Bonds fall on strong selling
Bond prices fell by around seven paise and yields rose by around one basis point on strong selling by traders. "The cut-off yields for 91-day T-bills and 182-day T-bills were also below market expectations, which prompted ...
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PUBLIC SECTOR BANKS
Andhra Bank signs MoU with India Infrastructure Finance
Andhra Bank on Wednesday signed a memorandum of understanding (MoU) with India Infrastructure Finance Company Ltd (IIFCL) to lend further impetus and purpose to its infrastructure financing activities. The public sector bank has deployed about ...
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FII investment in Allahabad Bank
The Reserve Bank of India today in a press release said that investment by FIIs, NRIs and Persons of Indian Origin in Allahabad Bank has reached the limit of 18 per cent of its paid up capital. No further purchases of equity ...
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FINANCIAL INSTITUTIONS
More direct debt funding from Japan bank
`We are looking at ending this year with total asset book of $1 billion on the IFO side.'
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INTEREST RATES
ICICI Bank hikes lending, deposit rates
After the recent hike in cash reserve ratio, ICICI Bank is the first to kick off a hike in lending rates by almost 50 basis points. The benchmark advance rate has been revised to 13.75 per cent per annum payable monthly against the present rate ...
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SHORT TERM INSTRUMENTS
Call rates rule high
Call rates jumped to 7.8-7.9 per cent on Wednesday, against 7.25-7.35 per cent earlier, on fund shortage. They touched an intra-day high of eight per cent. In the first one-day reverse repo auction under LAF, the Reserve Bank ...
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FIXED DEPOSITS
SBT hikes rates on deposits
The State Bank of Travancore (SBT) has raised the interest rates for domestic and non-resident ordinary term deposits for various periods with effect from December 14. For deposits of Rs 25 lakh and above, the interest rate ...
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ALLIANCES & JOINT VENTURES
SunTechnics ties up with Cauvery Kalpatharu bank
SunTechnics, a leading system integrator for renewable energies and the flagship company of the Conergy Group, has tied up with Cauvery Kalpatharu Grameena Bank (CKGB), for retail funding of environmental friendly energy solutions. CKGB has over ...
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CUSTOMER RELATIONSHIP MANAGEMENT
Custommerce panel formed
Management Guru, Mr M. B. Athreya, announced on Thursday the formation of a panel for Custommerce, a forum dedicated to customer centricity. Derived from a combination of the words `customer' and `commerce', Custommerce is conceived and ...
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INTERVIEW
`Sangli has a strong brand pull in Maharashtra'
ICICI Bank's decision to take over Sangli Bank is a case of "one of the fastest growing banks with a hunger for further growth, and another bank which is groping for a `new growth script'," remarks Mr Robin Roy. He is the Principal Consultant, ...
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NEW PRODUCTS & SERVICES
YES Bank scheme for seniors
YES Bank has introduced a special high interest fixed deposit scheme for senior citizens. With effect from December 14, interest rates on deposits with maturity period of six months and one year will earn 8.5 per cent and that ...
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