Icra reaffirms LAAA rating to IDFCs Rs 1,000-crore bonds
Mumbai: Credit rating agency Icra on Friday reaffirmed highest safety LAAA rating to the Rs 1,000 crore bond issue of Infrastructure Development Finance Company.
Back to News Review index page  
Govt to discuss debt-swap of state loans with RBI by Sept
New Delhi: The government will take up with the Reserve Bank of India the issue of retiring high-cost debt of states in exchange for low-cost debt papers as part of efforts to reduce their debt burden which has mounted to 23.93 per cent of GDP.
Back to News Review index page  

RBI reviews credit issues with banks
Mumbai: The Reserve Bank of India on Friday met with the chief executives of commercial banks to review progress pertaining to credit deployment, particularly to the priority sector.
Back to News Review index page  
Sportspersons may be allowed to have EEFC a/c
Mumbai: Eminent sportspersons may soon be included in the list of professionals who can keep their forex earnings in bank accounts overseas like other professionals. Currently, sportspersons do not come under the RBI's existing definition of of professionals who have now been allowed to retain 100 per cent of their earnings in Exchange Earners Foreign Currency Accounts (EEFC).
Back to News Review index page  
GIC, insurance Bills get President's okay
New Delhi: The President has given his assent to the General Insurance Business (Nationalisation) Amendment Bill, 2002, the Insurance (Amendment) Bill, 2002, and the Delhi Municipal Corporation (Validation of Electricity Tax) Act and Other Laws (Repeal) ..
Back to News Review index page  
Norms for banks funding PSU bidders eased
New Delhi: Bank financing for PSU disinvestment will now be outside the five per cent ceiling on capital market exposure. The, relaxation will, however, be subject to RBI clearance on a case-by-case basis.
Back to News Review index page  
Bank-guaranteed FI loans to attract 20% risk weight
Mumbai: The RBI has clarified that the loan extended by a financial institution (FI) against the guarantee of a bank would attract a risk weight of 20 per cent in computation of CRAR (Capital to Risk-weighted Assets Ratio) of the lending FI.
Back to News Review index page  
RBI okays stripping of securities redeemable up to 20 years
Mumbai: The RBI Working Group on Securities Trading for Registered Interest and Principal of Securities (Strips) has said the eligible securities for stripping may be restricted to those whose redemption dates fall between zero and 20 years, with a with a majority of them falling within the 12-15 years range.
Back to News Review index page  
ICICI Bank opens extension counter in Mysore
Bangalore: ICICI Bank on Friday opened an extension counter and ATM in Mysore and its first branch and ATM at Dharwad. Cricketer Javagal Srinath opened the Mysore counter, a bank release said.
Back to News Review index page  

PSU banks tapping staff for business
New Delhi: Turn your employees into your customers before your competitors do so. That is the tenet that some bankers seem to be working on as they are fast cashing in on the idea of extending `clean overdraft facility to staff members'.
Back to News Review index page  
Eight PSBs seek nod to raise Rs 1,410 crore via pvt placements
New Delhi: Public sector banks are coming out with a slew of bond issues to shore up their tier II capital. As many as eight banks have sought clearance to raise an aggregate Rs 1,410 crore worth of funds via the private placement route over the next few months.
Back to News Review index page  
FIs, banks to exchange data on loan defaulters
New Delhi: Financial institutions and banks have initiated moves to exchange data on loan delinquency with a view to tightening due diligence procedures. Banking sources said that currently such data was treated as confidential.
Back to News Review index page  
Union Bank files suits against 30 defaulters
Mumbai: Union Bank of India has initiated legal proceedings against 30 of its clients, taking advantage of the recent ordinance promulgated by the Government that enables banks and financial institutions to seize assets against bad loans.
Back to News Review index page  
Ordinance to be repromulgated
New Delhi: The Cabinet on Friday approved the repromulgation of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Ordinance, 2002.
Back to News Review index page  
ING stake hike in Vysya Bank okayed
Hyderabad: Banque Brussels Lambert's (BBL) proposal to hike its holding in Vysya Bank from 30 per cent to 49 per cent for a consideration of Rs 225 crore has been cleared by the Government.
Back to News Review index page  
RBI cracks down on terror funds
Mumbai: The Reserve Bank of India has finally come out with the 'know your customer' guidelines to check money laundering and funding of terrorist organisations.
Back to News Review index page  
New Bima Nivesh may be snuffed out by LIC
Mumbai: Yet another Life Insurance Corporations (LIC) popular products, `New Bima Nivesh has been put on the hit list. Few months ago, it was `Jeevan Shree, and now LIC is likely to withdraw New Bima Nivesh too, one of the most popular single premium product. Single premium policies fetched almost 40 % of premium income for LIC until recently.
Back to News Review index page