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Gross
NPAs rise 11.24% to cross Rs 70,000 crore
Mumbai: Gross non-performing assets of scheduled
commercial banks rose by 11.24 per cent to Rs 70,904 crore
as on March 31, 2002, up from Rs 63,741 crore at the end
of the preceding fiscal.
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Regional
rural banks fare better in ’01-02
Mumbai: Regional rural banks are doing fine, according
to the Reserve Bank of India. The RBI said that although
the number of profit-making RRBs declined over the year,
The data in respect of 196 RRBs for 2000-01 and 2001-02
indicate that there was a significant improvement in their
performance.
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NBFCs
show marginal assets growth
Mumbai: Aggregate assets of non-banking financial
companies as on March 31, 2001 at Rs 53,878 crore increased
by 0.5 per cent over the preceding fiscal despite a decline
in the number of reporting companies to 981 from 1,005.
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Prompt
corrective action plan of banks on cards
Mumbai: The Reserve Bank of India is working on
a prompt corrective action strategy which will help to
ring-fence banks when trouble shows up at a very early
stage
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Banks
to defer recovery of drought-hit farmers' loans
Mumbai: Farmers in the drought-affected districts
of the country will not have to repay kharif crop loans,
including interest, until next year. The entire loan amounts
will also be restructured and repayment deferred by a
minimum of four to five years, according to instructions
sent out by the Reserve Bank of India (RBI) to banks.
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FIIs
allowed to take full forward cover
Mumbai: In a move aimed at fine-tuning the exchange
rate of the rupee, the Reserve Bank of India on Friday
allowed foreign institutional investors (FIIs) to take
forward currency cover for their entire exposure in Indian
equities while simultaneously raising the ceiling on advance
dollar purchases by importers to $1,00,000 from $25,000.
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Hudco
ready to lend Rs 6,000 cr
Thiruvanathapuram: The Union Urban Development
Minister, Ananth Kumar, has said that Housing and Urban
Development Corporation (Hudco) is willing to extend up
to Rs 6,000 crore to viable development project proposals
that the State is able to come up with.
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Bank
of Punjab, PNB cut home loan rates
New Delhi: Punjab National Bank (PNB) and Bank
of Punjab yesterday announced reduction of interest rates
on home loans. While PNB has reduced the rate within a
range of 0.75 per cent to 1 per cent, Bank of Punjab has
reduced its rates by 0.25 per cent across the board.
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Birla
Corp CP issue gets `PR1'
Mumbai: Credit Analysis and Research Ltd (CARE)
has assigned a `PR1' rating to the proposed Rs 25-crore
commercial paper programme of Birla Corporation Ltd.
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Corpn
Bank in talks with others for ATM sharing
Mangalore: Corporation Bank is in talks with `few'
banks to strike alliances for sharing its automated teller
machines (ATMs) on a fixed fee per transaction basis,says
Chairman and Managing Director, K. Cherian Varghese.
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Vijaya
Bank rebate for loan repayment
Hyderabad: The public sector Vijaya Bank has begun
offering a rebate of one per cent for prompt repayment
of housing loans.
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Credit
concentration of foreign banks high: RBI
Mumbai: The degree of credit concentration in respect
of foreign banks in India is relatively large and this
is one of the reasons of high NPA ratios of smaller foreign
banks, according to the RBI report on Trends and Progress
in Banking for 2001-02.
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FIs
raised more funds externally
Mumbai: Financial institutions raised more funds
from external sources during the year 2001-2002, on account
of a softer interest rate environment. The share of external
sources during 2001-2002 was 29.1 per cent as compared
to 25.6 per cent in the previous year.
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Moody's
sets the mood in debt market
Mumbai: Another`crazy and euphoric' day in the
Government securities market, where most players made
moolah and traded volumes touched Rs 9,500 crore. G-sec
prices were seen shooting up by 0.40-1.50 paise during
the day across maturities on Friday.
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Citi
unveils pre-paid $ card
Mumbai: Citibank India, on Friday, announced the
launch of the Citibank World Money Card, a point-of-sale
enabled pre-paid dollar card that allows people travelling
overseas on business or holiday, to carry and use their
money in a safe and convenient way.
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