11 jan 2003

public banks get set for plr cut
after going ahead with deposit rate cuts, state-run banks are actively considering a cut in their prime lending rates.

first signs of recovery are here, says sinor
industry is showing initial signs of recovery, said icici bank’s joint managing director hn sinor, speaking to the media on the sidelines of a seminar on ‘evolving debt markets: opportunities beyond aa’ organised jointly by icici bank and fitch ratings.

pnb issued notices to 75 defaulters in dec 2002
the punjab national bank, east up zone has adopted some tough postures against major loan defaulters and has issued notices to 75 major loan defaulters during the last one month.

mumbai eow slammed for releasing pendse’s passport
tata finance ltd legal counsel said at the 19th chief metropolitan
magistrate’s court in mumbai on friday that former managing director dilip pendse was "not traceable" when the delhi police went on a look-out for the prime accused, and blamed the mumbai economic offences wing for releasing his passport without the court’s permission.

cmie revises real gdp growth forecast to 3.7%
the centre for monitoring indian economy has revised the growth forecast for real gross domestic product from 3.1 per cent to 3.7 per cent for the fiscal 2002-03, largely based on expected improvement in the industrial and services sector.

10 jan 2003

rbi asks small nbfcs to shut shop
non-banking finance companies (nbfcs) with net owned funds of less than rs 25 lakh as on january 9, 2003, must stop carrying on business with immediate effect, the reserve bank of india announced today.

sbi lowers deposit rates
state bank of india has lowered interest rates on domestic term deposits by 25 basis points in some maturities effective january 13. the new rates on deposits with a maturity of one year to less than two years has been reduced to 5.75 per cent.

09 jan 2003