Prudential norms for NBFCs modified
Mumbai: The Reserve Bank of India has modified the prudential norms applicable to non-banking finance companies (NBFCs) in relation to their exposure to this sector. The norms prescribed for NBFCs are now in alignment with the norms prescribed for banks and financial institutions.

"For the purpose of encouraging NBFCs to grant infrastructure loans, the RBI has specified that, now, when infrastructure loans granted by NBFCs are restructured or renegotiated or rescheduled before the assets have been classified as sub-standard, they can continue to be classified as standard assets, subject to certain conditions," said the RBI in a press release.
Back to News Review index page  

Nabard to disburse Rs 700-crores for rural infrastructure
Mumbai: The project sanctioning committee of Nabard has sanctioned loans aggregating Rs 700 crore towards creation of rural infrastructure in 12 States. This sanction is under the Rural Infrastructure Development Fund IX.
Back to News Review index page  

Corporation Bank ups NRE deposit rates
Mangalore: Corporation Bank has revised interest rates on NRE term deposits from Friday. A Bank press release here said as per revised rates deposits, for a maturity period of 1 year and less than 2 years, the interest is 3.8 percent (old rate 3.7 per cent).

For 2 years to less than 3 years, the rate is 4.3 per cent (4 per cent) and for a maturity period of 3 years only, the rate is 5 percent (4.4 percent).
Back to News Review index page  

ING Vysya rolls out Orange S/B account
Bangalore: ING Vysya Bank Ltd has launched a new savings product - the Orange savings account - available across 200 networked branches of the bank.
Announcing this, the Managing Director, Mr Bart Hellemans, said the unique positioning and value-for-money nature of the product would help new client acquisitions while also enabling deeper relationship with the existing customerswho might choose to migrate to the new account.
Back to News Review index page