Reserve Bank allows capital hedging for foreign banks
Mumbai: In a significant move, the Reserve Bank has agreed to allow capital hedging for foreign banks in the country. Capital hedging has been identified as one of the biggest areas of concern by foreign bankers.
Back to News Review index page  

Fall in sanctions, disbursements by FIs
Mumbai: During 2001-02 financial assistance sanctioned as well as disbursed by financial institutions including ICICI Ltd declined by 36.9 per cent and 20.6 per cent, respectively, to Rs 72,878 crore and Rs 56,985 crore.
Back to News Review index page  

Eases forex forward norms for FIIs
New Delhi: The central bank has decided to allow foreign institutional investors to enter into a forward contract with the rupee as one of the currencies, with an authorised dealer in the country to hedge their entire exposure in equities at a particular point of time without any reference to the cut-off date.
Back to News Review index page  

PSB wage bills dip despite VRS
Mumbai: With a lowering of wage costs, the ratio of wage bill to total assets of schedule commercial banks declined to 1.4 during 01-02 from 1.8 per cent during 00-01, says the Reserve Bank in its report on ‘trend and progress of banking.’
Back to News Review index page  

Banks asked to defer farm loan recovery
Mumbai: The Reserve Bank has directed all commercial banks not to recover crop loans including the accrued interest in this fiscal from farmers in the drought affected states.
Back to News Review index page  

Vizag port likely to hire IDBI Caps
New Delhi: IDBI Capital Market Services is likely to be hired by the Vizag port and the Vizag Dock Labour Board for consultancy on portfolio fund management.
Back to News Review index page  

Corpn Bank lowers housing rates
Mangalore: Corporation Bank has reduced its interest rates on Corp Home loans with effect from November 19. With this, the floating rate on a loan of up to five years has come down to 9.25 per cent from the previous 9.5 per cent.
Back to News Review index page  

J&K Bank cuts home loan rates
New Delhi: The Jammu and Kashmir Bank Ltd (J&K Bank) has announced a 25 basis point reduction in housing loans for both fixed and floating rates. Under the revised structure, the new rate for fixed interest loans from 1-10 years would be 10.50 per cent, while those between 11-20 years would be 10.75 per cent.
Back to News Review index page  

Indian banking system is weak, says S&P
New Delhi: International rating agency Standard and Poor's (S&P) has said that the Indian banking system is weak and vulnerable.
Back to News Review index page  

Companies could be allowed to run anti-poverty schemes
New Delhi: A UN-Asian Development Bank joint study (Oct. 2002) reports positive profitability for the Indian banking system in 1997-2000 and steady improvement in cost efficiency, helping to close the gap between foreign and Indian banks.
Back to News Review index page