Page 1069 - Finance News
Bank credit grows 9.6%
Even though the festival season has started, banks have not seen a significant improvement in credit offtake
 "Bank credit grows 9.6%")
HDFC's Rs 5,000-cr NCD-warrants issue to open for book building
Floor price for bidding fixed at Rs 1,189 per warrant; the bidder can apply for at least 7,300 warrants for each NCD
 "HDFC's Rs 5,000-cr NCD-warrants issue to open for book building")
Realtors ask banks to pass on benefits of RBI rate cut
Developers say cheaper home loans will help revive housing demand especially during upcoming festive season
 "Realtors ask banks to pass on benefits of RBI rate cut")
State lenders PNB, BoB, OBC cut base rate up to 0.40%
Bank of Baroda has decided to reduce base rate by 25 basis points effective from Oct 5
 "State lenders PNB, BoB, OBC cut base rate up to 0.40%")
Axis Bank cuts base rate by 35 bps to 9.50%
Cut comes a day after RBI reduced repo rate by 50 bps
 "Axis Bank cuts base rate by 35 bps to 9.50%")
50-bp rate cut: The reasons and what it means
CPI inflation (y-o-y in %) Retail inflation dropped to nine-month low
 "50-bp rate cut: The reasons and what it means")
Temporary help for the most indebted
For over-leveraged companies such as GMR Infra, Adani Power, Tata Power, IRB Infra and Tata Steel, cash flow mismatch and poor profitability are bigger issues than cost of funds
 "Temporary help for the most indebted")
Consumer demand to get a boost
Sizeable investments, however, will take more time to pick up, say CEOs; they reiterate need for acceleration on policy reforms and more spending on infrastructure
 "Consumer demand to get a boost")
Our economy has legacy problems and there are no silver bullets: Raghuram Rajan
Interview with Governor, RBI
 "Our economy has legacy problems and there are no silver bullets: Raghuram Rajan")
 "Reserve Bank rate cut will not hit depositors")
Base rate cut by banks to impact margins by 10-15 bps
Full transmission of rate cut still a long way to go
 "Base rate cut by banks to impact margins by 10-15 bps")
Rajan goes for big-bang cut
Repo rate at four-&-a-half-yr low of 6.75% after a cut of 50 bps
 "Rajan goes for big-bang cut")
RBI allows firms to raise $750 mn via rupee bonds
The regulator has also allowed REITs and Infrastructure Investment Trusts to raise funds under this route
 "RBI allows firms to raise $750 mn via rupee bonds")
Sebi exempts 3 PSBs from open offer
Govt has decided to infuse funds in Dena Bank, Corporation Bank and Bank of India
 "Sebi exempts 3 PSBs from open offer")
Holy trinity in sight: Rajiv Bansal
The trinity of a weak currency, low inflation and easing monetary policy could be the best recipe to aspire for annual double-digit growth in the next few years
 "Holy trinity in sight: Rajiv Bansal")
Challenging times ahead: Glenn Saldanha
The reduction will go a long way in boosting economic growth and will act as a stimulant for Indian firms to invest more on capex
 "Challenging times ahead: Glenn Saldanha")
A welcome shot in the arm: Ravneet Gill
The move to ease foreign investors' access to the bond market is a huge positive and will help improve the demand-supply dynamic of bonds
 "A welcome shot in the arm: Ravneet Gill")
 "BS Jury")
The monetary policy will add momentum to India's growth: Y M Deosthalee
The rate cut is a clear indicator of fact that RBI and the govt are now on the same page as far as emphasis on sustainable economic growth is concerned
 "The monetary policy will add momentum to India's growth: Y M Deosthalee")
RBI fires up bond market
50-bp rate cut takes bond yields near 26-month low
 "RBI fires up bond market")