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Canara
Bank slashes lending rates
Mumbai: Falling in line with the spirit of the
Credit Policy announced by RBI, Canara Bank has brought
down the PLR and PTLR by 0.25 per cent to 11.25 per cent
and 11.75 per cent, respectively, with effect from November
1.
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Another
big bang policy
Mumbai: Given the current easy liquidity situation,
the overnight rate broadly hugs the repo rate and hence
at this point the repo rate becomes the single most important
determinant of interest rates in the economy.
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Syndicate
Bank cuts home loan rates
Mumbai: Syndicate Bank has reduced the interest
rates on its housing loans belonging to both floating
and fixed interest categories. The new floating interest
rates are 9.5 per cent per annum with repayment period
up to five years.
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Liquidity
overhang pulls down yields
Mumbai: Bond markets went into a tizzy during the
week propelled by the reduction in the cash reserve ratio,
bank rate and the repo rate though stabilised towards
the weekend due to profit-taking.
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Karnataka
Bank chief stresses on value-addition
Mumbai: Bankers have an enormous responsibility
of functioning with narrow spreads under the reducing
interest rate regime, according to Karnataka Bank chairman
A Ananthakrishna.
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South
Indian Bank ATM in Kovai
Chennai: The sixth ATM of the South Indian Bank
and its first online ATM outside its home state of Kerala
was inaugurated by the bank's Chairman Mr A. Sethumadhavan
in Coimbatore.
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Andhra
Bank cuts PLR, deposit rates
Chennai: In a move to pass on the benefits to the
borrowers following the mid-term review of monetary policy
by the Reserve Bank of India recently, Andhra Bank has
decided to reduce its prime-lending rate (PLR) from the
existing 11.75 per cent to 11.50 per cent.
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Canara
Bank equity capital reduced
Mangalore: Canara Bank has returned 48 per cent
of its equity capital to the Government of India, aggregating
Rs 277.87 crore. The bank's equity capital now stands
reduced to Rs 300 crore from Rs 577.87 crore, said a spokesperson
for the bank.
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