Page 1297 - Finance News
Jalan panel to finish vetting bank licence bids in 3 months
RBI is checking the primary eligibility of the 26 applicants. Once the process is completed, comments will be passed on to the Bimal Jalan panel
 "Jalan panel to finish vetting bank licence bids in 3 months")
Forex reserves rise $1.83 bn in a week
SDRs rose by $13.7 mn to $4.47 bn, while India's reserve position with the International Monetary Fund was up by $6.9 mn to $2.21 bn
 "Forex reserves rise $1.83 bn in a week")
OBC raises fixed deposit rates by up to 0.5%
With the revision, term deposit between 180 days to 1 year would earn 9% against existing 8.50%
 "OBC raises fixed deposit rates by up to 0.5%")
Jalan panel's first meet on new bank licences today
There are 26 applicants for new bank licences, including Tata Sons, L&T, Aditya Birla Group, India Post and IFCI
Capital adequacy ratio of PSBs dip
As loan demand goes up, provision requirements also rise
 "Capital adequacy ratio of PSBs dip")
NRI remittances touch a new high at $6.5 bn
Hits $6.5 bn mark in H1, to set new record of $8.5 bn this year
 "NRI remittances touch a new high at $6.5 bn")
Government lenders stressed but investors hopeful
Higher provisions cap state-run lenders' earnings growth in Q2
 "Government lenders stressed but investors hopeful")
Need RBI nod to accept deposits on behalf of WBIDFC: Allahabad Bank
CMD says bank was not sure if a non-banking finance company such as WBIDFC can raise public deposits through banks
 "Need RBI nod to accept deposits on behalf of WBIDFC: Allahabad Bank")
State Bank cuts short-term bulk deposit rate as liquidity eases
But hikes 180-210 day deposits by 20 bps; other banks maintains status quo
 "State Bank cuts short-term bulk deposit rate as liquidity eases")
BS Bank Aspirex outpace the market in second consecutive month
JM Financial, L&T Finance Holdings, LIC Housing Finance, IDFC and Magma Fincorp have gained over 20% in Oct.
SBI raises fixed deposit rate by 0.2% on select maturity
The new rate would be effective from tomorrow, it added
 "SBI raises fixed deposit rate by 0.2% on select maturity")
Bank of Baroda's Q2 net down 10% on higher provisions
Provisions were up 33% y-o-y at Rs 860 crore
 "Bank of Baroda's Q2 net down 10% on higher provisions")
We are in a better position to face tapering: Rajan
Says RBI may have done enough on rate hikes
 "We are in a better position to face tapering: Rajan")
Foreign banks wait for norms on fully-owned subsidiaries
Currently, foreign lenders are present in India only through branches or representative offices
Bank licence: RBI may miss deadline
RBI digs out more info on promoters to vet 'fit & proper'
 "Bank licence: RBI may miss deadline")
Not part of Bengal government's deposit scheme: Allahabad Bank
Bank says it will not be accepting deposits from public under state's 'Safe Savings Scheme'
 "Not part of Bengal government's deposit scheme: Allahabad Bank")
HDFC Bank launches rural Financial Literacy Initiative in Chhattisgarh
Official says these literacy camps will give participants conceptual understanding of financial products and services
 "HDFC Bank launches rural Financial Literacy Initiative in Chhattisgarh")
SBH to up MSME advances' share to 20% by FY15
Bank says they are making all efforts to take MSME advances' share to 16% by March 2014
 "SBH to up MSME advances' share to 20% by FY15")
Syndicate Bank goes slow on fund raise plans
Bank has already received board approval to raise Rs 1,500 cr either through QIP or rights issue
 "Syndicate Bank goes slow on fund raise plans")
May have done enough on rate hikes: Rajan
Says special swap window would be tapered gradually
 "May have done enough on rate hikes: Rajan")