Page 1284 - Finance News
SBI cautiously welcomes RBI move on 'too big to fail' banks
RBI released draft rules planning to introduce increased capital requirements by 2016 for banks regarded as too big to fail and make them subject to greater regulatory oversight
 "SBI cautiously welcomes RBI move on 'too big to fail' banks")
SBI planning automated system to cut zero balance A/c cost
Bank's CASA ratio is under pressure since the last three quarters of the current fiscal
 "SBI planning automated system to cut zero balance A/c cost")
RBI asks UCBs to provide TDS certificate to customers on time
It further advised the UCBs to put in place a system that will enable them to provide Form 16A to their customers within the time-frame prescribed under the Income Tax Rules
SKS Trust Advisors to turn to Company Law Board
SKS Microfinance's single-largest shareholder alleges 'oppression of minority shareholders' and 'mismanagement' in the company
 "SKS Trust Advisors to turn to Company Law Board")
Market hopes for early data release
Market participants have welcomed the Reserve Bank of India (RBI)'s move to release data on India's current account deficit (CAD) a month ahead of schedule
CAD to move towards RBI's comfort level, say analysts
Full year CAD could likely stay in the range of $ 52-55 billion, implying around 2.9%-3.1% of the GDP
 "CAD to move towards RBI's comfort level, say analysts")
Canara Bank reduced retail gross NPA using CIBIL information, says Dubey
NPA down to 3% from 6.6% due to scrutiny of loan applications
 "Canara Bank reduced retail gross NPA using CIBIL information, says Dubey")
VCES a rare opportunity, make fresh start, says Chidambaram
The FM asked hose in trade and industry to seize the offer
 "VCES a rare opportunity, make fresh start, says Chidambaram")
Govt allows greater flexibility for pension fund investments
But the EPFO board would need to approve the changes before they become official
 "Govt allows greater flexibility for pension fund investments")
UCO Bank looks to life after Iran sanctions windfall
Plans to focus on loans to individuals and small and medium enterprises to diversify
 "UCO Bank looks to life after Iran sanctions windfall")
HDFC raises home loan rate by 10 bps
Interest rate on loans of up to Rs 30 lakh will be 10.5%, while for Rs 30-75 lakh it will be 10.75%
 "HDFC raises home loan rate by 10 bps")
SKS Trust Advisors questions MD's re-appointment
Alleges irregularities at the micro-lender's AGM
Foreign bankers line up to meet Rajan after subsidiary promise
Seven honchos met RBI chief last month on hopes of 'near-national' treatment for WOS
 "Foreign bankers line up to meet Rajan after subsidiary promise")
Syndicate Bank to raise Rs 200 crore
Bank has constituted a committee of directors to create, offer, issue and allot equity shares for cash
 "Syndicate Bank to raise Rs 200 crore")
DBS Bank appoints Rajesh Prabhu as India CFO
Prior to this appointment he was with Deutsche Bank and has also worked with IDBI Bank
RBI allows companies to raise ECBs for project use in special purpose vehicles
However, the apex bank has laid down few conditions to be followed; modifications to ECB guidelines to come into force with immediate effect
 "RBI allows companies to raise ECBs for project use in special purpose vehicles")
Federal Bank appoints Koshy as chairman
Koshy had joined the bank's board as an independent director in May, 2007
Allahabad Bank to raise money through QIP route in next fiscal year
The bank will focus on SME and retail sector for credit disbursement growth
 "Allahabad Bank to raise money through QIP route in next fiscal year")
CIBIL to rate Micro Finance Institution borrowers
The total record base with CIBIL currently stands at around 320 million across all Bureaus
 "CIBIL to rate Micro Finance Institution borrowers")