Page 1126 - Finance News
New rules to make NBFCs more accountable
The central bank intends to prescribe norms as NBFCs outsourcing various activities are exposed to various risks
 "New rules to make NBFCs more accountable")
Base rate needs to be market benchmarked: Rajan
He also said that India will go towards full account convertibility in a few years time
 "Base rate needs to be market benchmarked: Rajan")
IndusInd Bank raises balance slab for 6% interest on savings account
Starting from 4% on daily balance up to Rs 1 lakh, interest rate will be 6% for balances above Rs 10 lakh
 "IndusInd Bank raises balance slab for 6% interest on savings account")
IndusInd Bank to buy RBS's India jewellery financing business
Enters agreement with ABN AMRO Bank for cooperation in diamond & jewellery financing
Rajan sees 'great' changes in banking sector
He hinted at the possibility of a postal bank and said public sector lenders will be the biggest 'change agents'
 "Rajan sees 'great' changes in banking sector")
 "Young India & insurance")
IndusInd Bank to buy RBS's India jewellery financing business
RBS's India diamond and jewellery financing loan book is about Rs 4,500 crore
Bank in distress too will get capital support from govt: Rajan
RBI Governor Raghuram Rajan says banks will get capital support if a clear case of recapitalisation is made
SEBI eases foreign investment rules in govt bonds
Currently, the entire govt bond limit for foreign investors is almost fully exhausted
 "SEBI eases foreign investment rules in govt bonds")
Axis Bank cuts base rate by 20 bps
More state-run banks to follow suit
 "Axis Bank cuts base rate by 20 bps")
 "FinMin nod for tax-free bonds by Railways, highways")
Srei Equipment Finance to raise up to Rs 500 cr
The funds raised through the issue will be used for infrastructure equipment financing
 "Srei Equipment Finance to raise up to Rs 500 cr")
No plan to raise FII G-sec limit, no SUUTI stake sale for now
We have enough foreign fund flows. That is why there is no urgency to raise the limit: Finance secretary
 "No plan to raise FII G-sec limit, no SUUTI stake sale for now")
PM launches MUDRA Bank to fund small businesses
Micro Unit Development and Refinance Agency to be an NBFC, initially with Rs 20,000-crore corpus; to be later converted into a bank
 "PM launches MUDRA Bank to fund small businesses")
What made bankers change their mind on rate cut
Rajan made it clear they had no option but they were firm in opposing; however, mutual confabulations convinced them that, having made their point, they had to
 "What made bankers change their mind on rate cut")
Home loan borrowers to gain from rate cut
Home loan borrowers can look forward to an increase in their loan eligibility and a fall in EMIs
 "Home loan borrowers to gain from rate cut")
TN, Puducherry get Rs 9,252 crore Nabard funding in 2015-16
Nabard estimates credit potential of Rs.1,44 lakh crore for Tamil Nadu in 2015-16
 "TN, Puducherry get Rs 9,252 crore Nabard funding in 2015-16")
RBI instructs banks to restructure farm loans
Unseasonal rains, hailstorms in northern and central parts of India last month have damaged rabi crops in about 11 mn hectares
 "RBI instructs banks to restructure farm loans")
Axis Bank cuts base rate by 0.20% to 9.95%
Bank has also cut its deposit rate offerings by 0.25% across multiple maturities
We are disappointed the RBI didn't cut rates: Ashok Leyland CFO
Gopal Mahadevan expects a central bank rate cut in June
 "We are disappointed the RBI didn't cut rates: Ashok Leyland CFO")