Page 1071 - Finance News
'My name is Raghuram Rajan and I do what I do'
The RBI Governor's response comes after he cut interest rate by 0.50% and amid comments that he is being Santa Claus in cutting interest rate by more than expected
 "'My name is Raghuram Rajan and I do what I do'")
Rs 35.38 crore under Mudra Yojana distributed at mega camp
Mudra Bank provides loans under three categories of Sishu, Kishor and Tarun with the objective of providing funding to the non corporate small business sector
 "Rs 35.38 crore under Mudra Yojana distributed at mega camp")
RBI springs a surprise, cuts repo rate by 50 bps to 6.75%
The central bank responded to widespread calls to lower the interest rate to boost domestic investment
 "RBI springs a surprise, cuts repo rate by 50 bps to 6.75%")
RBI expected to lower rates, while cautioning against inflation
45 of 51 economists expect RBI to cut repo rate by 25 bps to 7%
 "RBI expected to lower rates, while cautioning against inflation")
Chidambaram welcomes RBI rate cut of 0.5%
Says the step signals a movement towards a lower interest rate regime
 "Chidambaram welcomes RBI rate cut of 0.5%")
RBI lowers GDP forecast for FY16 to 7.4%
Expects CPI inflation to average 5.5% in Q3 and 5.8% in Q4 of FY16
 "RBI lowers GDP forecast for FY16 to 7.4%")
Top 5 implications of RBI's 50 bps rate cut
The surprise cut by the central bank will have the greatest impact on home, auto and personal loans
 "Top 5 implications of RBI's 50 bps rate cut")
Housing finance stocks gain post RBI policy
HDFC, LIC Housing, Dewan Housing, Gruh Finance, Can Fin Homes and GIC Housing were up 1%-3% on the BSE.
 "Housing finance stocks gain post RBI policy")
RBI rate cut positive for growth and markets: experts
Expect a long pause from RBI after today's rate cut
 "RBI rate cut positive for growth and markets: experts")
 "Insurance agents: Exits outnumber entry")
Jaitley hints at cutting govt stake in IDBI Bank below 50%
Says, draft bankruptcy code will be put out next month
 "Jaitley hints at cutting govt stake in IDBI Bank below 50%")
IDBI disvestment will be mixed bag of opportunities and challenges
Idea will face political and trade union challenge before becoming reality
 "IDBI disvestment will be mixed bag of opportunities and challenges")
BoB contributes Rs 2 cr to IIM-A for case research in banking, fin services
The funding is part of the institute's effort to reach out to the industry and collaborate onfield-based research
 "BoB contributes Rs 2 cr to IIM-A for case research in banking, fin services")
Govt may consider cutting stake in state-run banks: Jaitley
Says govt will draft for a bankruptcy code at the end of this month or in early Oct
 "Govt may consider cutting stake in state-run banks: Jaitley")
Jaitley for independence to PSBs from political decision-making
Says the brick and mortar branches might probably lose relevance with alternative channels like online coming up
 "Jaitley for independence to PSBs from political decision-making")
Singapore's DBS bank expects RBI to lower repo rate
Receding risks on these counts and sufficient domestic catalysts are likely to prod the central bank to lower rates this week
 "Singapore's DBS bank expects RBI to lower repo rate")
IDFC Bank says considering using ATMs of other banks
Bank not to have own ATMs, offer free ATM transactions to users at other banks' outlets
ICICI makes aggressive push in unsecured loans
Its personal loan book grew 61% in June 2014-2015. In this period, credit cards grew 18%, home loans by 26% and automobile loans by 21%
 "ICICI makes aggressive push in unsecured loans")
Syndicate Bank to raise Rs 1, 750 cr through Tier II capital bonds
The rated Tier-II bonds are expected to absorb losses once "Point of Non Viability" (PONV) trigger is invoked
 "Syndicate Bank to raise Rs 1, 750 cr through Tier II capital bonds")
Govt to disburse Rs 1.22 lakh crore loan under MUDRA by March
Jaitley said till now, Rs 24,000 crore has been disbursed under the scheme to about 37 lakh small entrepreneurs