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IBA
pegs extra monthly spend post-wage revision at Rs 800
crore
New Delhi: The banking industry is poised to incur
an additional expenditure of around Rs 800 crore per month
on account of the 8th bipartite wage revision in the industry.
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SBI
in talks with PwC, Deloitte on NPA front
New Delhi: With a view to bringing down its non-performing
assets, State Bank of India has decided to rope in external
recovery agents.
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IIB
plans tie-up with IIM to impart training for bankers
Kolkata: Indian Institute of Bankers will tie up with
Indian Institute of Management to impart management skills
to the top officials in the banking sector.
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PSEB
to raise Rs 200-crore loan to augment working capital
Chandigarh: The Punjab State Electricity Board has
approached the market to raise a term loan of Rs 200 crore
at an interest rate of 10.50 per cent to augment its working
capital resources.
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Centre
seeks to adress IIBI dividend obligations
New Delhi: In order to nip in the bud any new signs
of sickness among financial institutions, the government
is casting about for means to tackle the predicament facing
the Industrial Investment Bank of India.
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Govt
places Rs 13,000-cr debt with RBI
New Delhi: In a move aimed at benefiting from a strong
foreign exchange reserves position and low interest rate
regime in the domestic market, the Government today privately
placed with the Reserve Bank of India (RBI) two new securities
aggregating Rs 13,000 crore for buying foreign currency
to prepay loans taken from World Bank and Asian Development
Bank (ADB).
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Western
Union plans direct bank credit facility
Mumbai: Western Union Financial Services is planning
to start direct money transfers to bank accounts of individuals
in India as a new service area to increase its market
share in the country.
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SKNL
debentures downgraded
New Delhi: ICRA has downgraded the rating assigned
to the Rs 50-crore non-convertible debenture programme
of S. Kumars Nationwide Ltd ) from `LBB', under rating
watch, to `LD', indicating default.
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Union
Bank keen to tap captive insurance
Mumbai: Union Bank of India had a total credit portfolio
of Rs 22,465 crore at the end of last financial year.
Of this about Rs 19,000 crore were secured against insurable
assets.
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LVB
raises bulk deposit rates
Hyderabad: The Lakshmi Vilas Bank Ltd has decided
to pay additional interest of 0.25 percentage points on
bulk deposits of Rs 50 lakh and above for maturity periods
ranging between 90 and 365 days (both inclusive).
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BoI
hikes rates on deposits
Mumbai: Bank of India has raised interest rates by
25 basis points on domestic term deposits of amounts less
than Rs one crore, in the maturity bracket of "46
to 90 days'', effective from February 27.
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