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Dividend for Cangilt investors
Mumbai: Canbank Mutual Fund has declared the eleventh tranche of its income
distribution in the Cangilt (PGS) scheme under the income plan. Investors
under the scheme are now eligible for 3 per cent on the face value of Rs
10.
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Kalpatharu Grameena Bank to target non-farm sector Hopes to post Rs 5-cr
profit
Bangalore: The Kalpatharu Grameena Bank plans to wipe out accumulated losses
of over Rs 2.75 crore and make a profit of Rs 5 crore this year. To this
end, the bank is focussing on the non-farm sector in Bangalore Urban and
Bangalore Rural districts
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RBI gets tough with banks Lending rate disclosure to be made mandatory
Mumbai: The Reserve Bank of India has decided to make it mandatory for all
commercial banks to disclose their maximum and minimum lending rates, including
sub-PLRs, on a fortnightly basis.
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RBI directive on return of deposits
Mumbai: Non-banking non-financial companies do not have to submit their
return of deposits to the Reserve Bank of India, a press release has said.
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Foreign currency a/c norm for SEZ unit relaxed
Mumbai: The Reserve Bank of India has permitted a unit located in a special
economic zone (SEZ) to open, hold and maintain a foreign currency account
with an authorised dealer in India.
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SBI tightens norms for corporates
Mumbai: In the wake of a series of international accounting scandals, the
State Bank of India (SBI) has tightened due diligence procedures on corporate borrowers.
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Cleaning up process again for revamp IFCI orders NPA categorisation
Mumbai: Cleaning up work has started at IFCI Ltd. With
fresh lending coming to a virtual halt for some time on account to acute liquidity crisis, the
focus has clearly shifted towards tackling the crippling burden of past
non-performing assets
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Securities lose early gains
Mumbai: The RBI on Friday announced an auction of a new 10-year paper worth
Rs 3,000 crore on July 17, with a `call and put' option. There is another
8.07 per cent 2017 paper worth Rs 4,000 crore for auction on the same day.
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`Ordinance must help recover problem assets'
Mumbai: Fitch Ratings India has said that the ordinance on securitisation
may lead to an improvement in the financial position of lenders, especially
if its implementation prompts more recoveries of their "problem assets''.
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Deposit rate cut likely
Mumbai: While the new Finance Minister, Mr Jaswant Singh, has given some
hope to the people with his now-famous `more money in the housewife's purse'
remark, banks in the country are thinking of reducing the deposit rates
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Rabo India Fin to set up retail bank with agri focus
Mumbai: Rabo India Finance, Indian arm of Dutch co-operative major
Rabobank, will set up a separate commercial and retail bank shortly to accelerate
giving credit facilities to the agri sector and is also having talks with
Nabard for a series of joint activities.
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Firm rupee unlikely to hit exports
Mumbai: A stronger rupee is unlikely to hurt Indias exports
this year as accelerating global growth could ensure greater demand, while cheaper
imports could help a nascent industrial recovery at home.
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