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entities allowed in interest rate derivatives
Mumbai: The Reserve Bank of India on Thursday said
it would allow scheduled commercial banks, primary dealers
and All India Financial Instititions to deal in interest
rate derivatives on domestic exchanges in a phased manner
to enable them to hedge interest rate risks in their underlying
government securities portfolio.
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Banks
wary of ECB prepayment loans
Mumbai: Banks already have large direct exposures
to FIs through subscription of bonds and provision of
support in the form of credit lines. Consequently, refinancing
ECBs supported by guarantees would mean an increase in
their respective exposures, sources said.
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StanChart,
BPCL launch co-branded debit card
Mumbai: Standard Chartered Bank and Bharat Petroleum
Corporation Ltd. on Thursday, launched a globally valid,
co-branded debit card called Smartfill. This is the second
co-branded debit card to be launched within a week by
foreign banks and their alliances.
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Panel
for cap on SLR investments in banks
New Delhi: The parliamentary standing committee has
recommended a cap on maximum investments that banks should
be allowed to make under the statutory liquidity ratio
norms.
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Crisil,
Fitch give ‘AAA’ for HLL’s bonus debentures
Mumbai: Hindustan Lever Ltd has got highest safety
ratings ‘AAA’ for its Rs 1,321 crore secured
bonus debenture issue from the Credit Rating Information
Services of India and Fitch Ratings India.
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Shrachi
Securities gets Dutch credit
Kolkata: Shrachi Securities Ltd has secured lines
of credit from two Dutch financial institutions, FMO and
Triodos Bank. The Kolkata-based financial services company
proposes to use the overseas credit facilities to shore
up its fund base.
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IRDA
chief opposes regulator for pensions
New Delhi: The Chairman of Insurance Regulatory and
Development Authority (IRDA), N. Rangachary, has strongly
opposed the Government's move to create a separate regulatory
body for pensions.
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Andhra
Bank gets nod for merger
Hyderabad: Andhra Bank, the Hyderabad-based premier
public sector bank, has received approvals from the Andhra
Pradesh High Court to merge with itself Andhra Bank Housing
Finance Ltd (ABHFL).
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RBI
allows hedging interest rate risks
Mumbai: The Reserve Bank of India has allowed commercial
banks, primary dealers and all India financial institutions
to trade in interest rate derivatives in a phased manner.
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Bengal
banks to strike today on StanChart issue
Kolkata: Normal banking operation in over 3,300 branches
in West Bengal is likely to be affected on Friday as the
Bengal Provincial Bank Employees Association (BPBEA),
an affiliate of All India Bank Employees Association (AIBEA),has
given a call for 24-hour Statewide strike to protest "the
anti-employee policies" of the Standard Chartered
Bank.
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StanChart
eyes distressed assets
Mumbai: Standard Chartered Bank, the largest foreign
bank in the country, is keen to buy distressed assets
to turnaround, sell or to add to its own asset book.
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Sabre
will retain Centurion name & staff
Mumbai: Sabre Capital Group, which is taking over
the management of Centurion Bank, has no plans to retrench
any staff. On the other hand, the bank will be recruiting
more people.
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AP
co-op bank victims up in arms
Hyderabad: Hundreds of victims of several `crisis
ridden' co-operative banks in Andhra Pradesh have threatened
to take legal recourse against the State Government,has
given a call for 24-hour Statewide strike to protest "the
anti-employee policies" of the Standard Chartered
Bank.
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