HDFC cuts housing loan rates by 50 bps 
Mumbai: The HDFC on Tuesday slashed its retail prime lending rate by 50 basis points to 10.50 per cent to pass on the benefits of lower interest rates to its floating-rate customers. 
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CCIL sets up internal advisory panel for CBLO 
New Delhi: The Clearing Corporation of India Ltd has set up an internal advisory committee consisting of representatives of major market players to obtain views regarding its new offering for the money market the collaterised borrowing and lending obligation. 
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ABN Amro to incentivise non-branch banking 
Mumbai: ABN Amro Bank on Tuesday launched an incentive programme called Royalties for its customers for using non-branch banking channels. 
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Gujarat govt team to meet RBI over revival of Co-ops 
Ahmedabad: Following the closure of two more Surat-based co-operative banks in Gujarat, the Diamond Jubilee Co-operative Bank and the Suryapur Co-operative Bank Limited, in the last couple of days, theres a run on investments parked with the co-operative banking sector here once again and widespread panic among investors. 
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SBI Life gearing up for bancassurance 
Mumbai: SBI Life is gearing up its machinery to offer bancassurance to SBI account holders across its network. 
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Central Bank cuts home loan rates
Mumbai: Central Bank of India has lowered it floating interest rates on housing finance by 50 basis points to one per cent in various slabs with a maturity of up to 5 years, effective August 29. 
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ING Vysya first cash bonus
Mumbai: ING Vysya Life Insurance has declared its first annual cash bonus for its policyholders which is five per cent on the premium paid on the policies. 
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Om Kotak forced to withdraw insurance bond
Mumbai: The drop in interest rates has forced Om Kotak Mahindra Life Insurance Co Ltd to withdraw one of its first investment-cum-insurance policies - Kotak Insurance Bond - in less than six months after it was launched. 
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Almatti insurance bids - United India moves TAC
New Delhi: The public sector United India Insurance Company Ltd (UIIL) has moved the Tariff Advisory Committee (TAC) on the bids made by the private sector for the Almatti Dam Power project. 
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Repeated bail-outs create moral hazard
New Delhi: The Government, last week, announced its bail-out package for UTI. This was no hole in the bucket. The bill was almost Rs 15,000 crore and means the fund had lost a further 30 per cent of its corpus in just two to three years. 
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Federal Bank, UAE firm tie up for fund transfer
Fedfast, Federal Bank's instant money transfer solution, is now available through all the branches of Thomas Cook Al Rostamani Exchange in UAE. 
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`Bank rate cut will not exceed 50 basis points'
Mumbai: The Reserve Bank of India (RBI) would, at the maximum, go in for a 50 basis point cut in bank rate as and when it decides to do so. 
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ABN-Amro launches debit card
Mumbai: ABN-AMRO Bank N.V. (India) will launch home mortgage loans before the end of this fiscal. Following the legislative changes regarding foreclosure and risk weightage of 50 per cent, the home mortgage loans market had received a boost
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IDBI terms for bank investors
Mumbai: IDBI has laid down a set of new conditions before the four investors New Bridge, JP Morgan, Ankar (a US-based fund) and Chrysalis for picking up equity in IDBI Bank.
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Govt offers dividends for US-64
New Delhi: The government is contemplating further sweetening the UTI deal, specifically for US-64, in order to relieve the redemption pressure expected by April 2002.
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