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MONEY & BANKING
CRR & BANK RATES:
RBI applies the squeeze
Repo rate, CRR hiked; economy to slow down to 8%. Mumbai, July 29 The Reserve Bank of India on Tuesday bared its resolve to take the ‘inflation bull’ by the horns — even if this meant an additional burden on corporate and ...
CRR & BANK RATES:
Market tanks on rate hike blow
Mumbai, July 29 The RBI’s higher-than-expected repo rate and CRR hikes came as a total surprise to investors, triggering a 500-plus point fall in the Sensex on Tuesday. ...
FINANCIAL INSTITUTIONS:
IDFC (Rs 88.80): Sell
We recommend a ‘sell’ in Infrastructure Development Finance Company (IDFC) from a short-term perspective. It is evident from the charts of IDFC that the stock has been on an intermediate-term downtrend from its January 2008 peak of Rs ...
CRR & BANK RATES:
Bad news for stocks, cheer for debt investors
With yet another round of policy rate hikes and talk of ‘aggregate demand pressures’, the RBI’s latest policy review signals that the central bank is willing to pull out all stops to battle inflation, even if this means ...
CRR & BANK RATES:
Reverse repo, repo spread widening
Chennai, July 29 Better a lender, than a borrower be. That seems to be the reigning philosophy at Mint ...
PEOPLE:
Dr. Reddy in his elements
Chennai, July 29 In what might be his last formal monetary policy interaction with the press, the RBI Governor, Dr Y.V.Reddy, (his term comes to an end in September) produced another trademark performance. Few use a combination of frankness ...
CREDIT POLICY:
RBI moves to help contain inflation: Govt
New Delhi, July 29 The Finance Ministry on Tuesday said that banks could ensure availability of adequate credit to productive sectors if requests for loans were carefully appraised and credit was allocated ...
CREDIT POLICY:
RBI move adds to real estate sector’s woes
Pressure on home loan rates; liquidity crunch for developers. New Delhi, July 29 The Reserve Bank of India’s decision to raise repo rate and cash reserve ratio is expected to add to woes of the real estate sector. ...
CREDIT POLICY:
Corporates brace up for higher borrowing costs
Mumbai, July 29 Corporates are bracing themselves for tough days ahead, with the Reserve Bank of India’s ‘anti-inflation’ credit policy signalling higher borrowing costs for India Inc. ...
DEBT MARKET:
Rate hike: Banks’ bond portfolios may see loss
Increase in PLR likely to slow advances growth. The latest round of rate increases by the RBI (repo rate by 50 basis points and cash reserve ratio by 25 basis points), are set to take both the rates to 9 per cent. ...
CREDIT POLICY:
Banks relying on wholesale, short-term funds to take a hit
‘Those with higher CASA ratios relatively better placed’. Mumbai, July 29 Banking stocks plunged on Tuesday as the RBI credit policy took the market completely by surprise with its higher-than-expected increase in the repo ...
FINANCIAL PERFORMANCE:
Rise in fee-based income lifts Bank of Baroda net
Net interest income grows by 10%; MTM losses at Rs 181 cr. Mumbai, July 29 Despite a sharp increase in provisions and contingencies, Bank of Baroda’s first quarter net profit rose 12.1 per cent as fee-based earnings grew ...
INTEREST RATES:
Lending rate hike inevitable: Bankers
‘Hike higher than expected; retail segment to see marked slowdown’. Mumbai, July 29 Banks are expected to hike lending and deposit rates after the Reserve Bank of India on Tuesday increased the cash reserve ratio and repo rate. ...
CREDIT POLICY:
Negative surprise shocks market participants
Tightening was stronger than expected. Mumbai, July 29 Although the stock market was expecting a rate hike by the RBI, the magnitude of the hike took the market by surprise, as was quite evident from the 550-points drop the Sensex witnessed ...
CREDIT POLICY:
‘Short-term pain’
YES Bank Founder and CEO, Mr Rana Kapoor, said “it is a short term pain for long term stability,” said Stating that the measures signalled that the RBI was willing to sacrifice growth to contain inflation, he said “inflation ...
CREDIT POLICY:
‘Policy on expected lines’
Mr Ananthakrishna, Chairman and Chief Executive Officer of Karnataka Bank Ltd, has said that the RBI’s measures to increase CRR and repo rates were expected. These measures are aimed at tightening liquidity. “If you see the inflation ...
CREDIT POLICY:
‘RBI has signalled dear money policy’
Coimbatore, July 29 While the RBI Governor, Dr Y.V. Reddy, has made it clear that the monetary policy will be dear money policy at least till March 31, 2009 , the way in which prices respond to the policy will be the yardstick for tightening ...
FINANCIAL PERFORMANCE:
Corporation Bank net up 4%; provisioning hurts
New Delhi, July 29 A higher provisioning due to depreciation in its government securities portfolio has pulled down the bottomline growth of Corporation Bank in the first quarter of the current fiscal. ...
FINANCIAL PERFORMANCE:
Syndicate Bank net dips 60% on Rs 260-cr depreciation
Bangalore, July 29 Public sector Syndicate Bank’s net profit dropped 60 per cent in the first quarter (Q1) of the current financial year, 2008-09, weighed down by depreciation in ...
CREDIT POLICY:
‘Tight monetary policy will affect growth’
New Delhi, July 29 Industry chambers reacted unanimously to the Reserve Bank of India’s hike in the cash reserve ratio and repo rates stating that it could impend growth. ...
GOVT BONDS:
Bond prices crash by Rs 2
MONETARY POLICY:
Monetary policy out before embargo
Mumbai, July 29 In a major embarrassment to the Reserve Bank of India, details of the monetary policy were out in public before the embargo of 12 noon. While the RBI has called for a detailed inquiry, preliminary investigations point to a ...
FINANCIAL PERFORMANCE:
Bank of Maharashtra net down 42%
Mangalore, July 29 The Pune-based Bank of Maharashtra has registered a decline of 42.84 per cent in the net profit at Rs 46.63 crore in the first quarter of 2008-09 against Rs 81.58 crore in the corresponding period of the previous fiscal. ...
GENERAL INSURANCE:
ICICI Lombard's plan for students
FOREX:
Rupee sheds 10 paise
CREDIT POLICY:
`To strain banks' profitability'
SHORT TERM INSTRUMENTS:
Call rates end higher
CREDIT POLICY:
Oil bonds purchases to be discontinued
Mumbai, July 29 The Reserve Bank of India has decided to discontinue the special market operation (SMO) which was offered to oil companies to provide liquidity, Dr. Y. V. Reddy, RBI Governor, said on Tuesday, while announcing the first quarter ...
PUBLIC SECTOR BANKS:
Bank of Baroda's loan for farmers
TRADE & LABOUR UNIONS:
AIBEA critical of rate hikes
Coimbatore: The All India Bank Employees Association General Secretary, Mr C.H. Venkatachalam ,said the CRR and Repo rate hike would not really help the common man. He said ‘the measures needed to curb inflation would be ...
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