Page 1139 - Finance News
Banks will wait for RBI review before deciding on lending rates: Bank of India
BoI chairman says there is a possibility of 10-20 bps cut after the April policy
 "Banks will wait for RBI review before deciding on lending rates: Bank of India")
IRFC bonds may see appetite only from insurers, pension funds
Suresh Prabhu in the rail budget had mentioned the need for market borrowings for financing remunerative projects in railways
 "IRFC bonds may see appetite only from insurers, pension funds")
Jaitley to meet PSB chiefs today
To review Q3 performance; likely to ask banks to cut lending rates
 "Jaitley to meet PSB chiefs today")
Indian CAD for Q3 at 1.6 % of GDP
Over the FY15's first nine months, CAD narrowed to $26.2 bn from $31.1 bn
 "Indian CAD for Q3 at 1.6 % of GDP")
FirstRand eyes India expansion as law changes for bank investors
India is encouraging investment to help fund improvements in infrastructure
Jaitley to meet heads of PSU banks tomorrow
Meeting will review credit offtake and the progress made under the Jan Dhan Yojana, among other things
Money laundering: Over 480 urban cooperative banks under lens
Central bank has been taking strict action like imposition of penalty and denial of branch expansion against the erring urban cooperative banks
 "Money laundering: Over 480 urban cooperative banks under lens")
State Bank of Travancore cuts base rate by 0.1%
Needs up to Rs 3,000 cr equity by March 2019, says ICRA
 "State Bank of Travancore cuts base rate by 0.1%")
Interest rate cuts only after March
Even if banks do not rush to cut rates now, it is possible they would not renew the bulk deposits given to large companies at higher rates
 "Interest rate cuts only after March")
Cabinet note on Department of Posts revamp soon
To also set in motion changes under Subramanian panel suggestions
 "Cabinet note on Department of Posts revamp soon")
Zero tolerance policy on flouting KYC norms in the offing
Banks to face operational curbs, higher penalty for non-compliance
Beef up existing FIs instead of creating new ones: Bankers
Strengthening existing institutions is more important, because it will be a long time before the new bank becomes operational, said C Rangarajan, former chairman, Economic Advisory Council to the Prim
 "Beef up existing FIs instead of creating new ones: Bankers")
Expanded Sarfaesi Act credit positive for some NBFCs: Moody's
Says repossession through the Chief Metropolitan Magistrates and District Magistrates, which normally takes 18-24 months, should offer a speedier recovery
 "Expanded Sarfaesi Act credit positive for some NBFCs: Moody's")
Catholic Syrian Bank plans to raise Rs 500 cr from captal market before Dec 2015
The bank has submitted a panel of candidates for CEO to RBI and its response is awaited
 "Catholic Syrian Bank plans to raise Rs 500 cr from captal market before Dec 2015")
State Bank of Travancore cuts base rate to 10.15%
The new rates will be applicable from March 16, 2015
Jaitley to address RBI board on March 22
The meeting comes against the backdrop of RBI on March 4 announcing a 0.25% rate cut
 "Jaitley to address RBI board on March 22")
Banks in smaller centres gender insensitive: Sitharaman
Says in smaller cities and towns banks tend to create many problems for women borrowers and this is not a comfortable situation
 "Banks in smaller centres gender insensitive: Sitharaman")
New 10-year bond set to bring down borrowing costs for India Inc
Auction of new bond likely in April
 "New 10-year bond set to bring down borrowing costs for India Inc")
Daring to dream big
Meet the individuals who've applied for a small finance bank or payments bank licence
 "Daring to dream big")
Bank credit up 10.39% y-o-y at Rs 64,53,394 cr
In the previous fortnight, banks' credit had grown at 10.38%, while deposits increased by 11.77%
 "Bank credit up 10.39% y-o-y at Rs 64,53,394 cr")