Page 1331 - Finance News
Sliding rupee part of a global phenomenon, says Congress
Congress leader Shakeel Ahmed takes a dig at Yashwant Sinha's demand that the UPA govt resign and go for fresh elections
 "Sliding rupee part of a global phenomenon, says Congress")
Rupee instability hampering signing of new contracts: Nasscom
Rupee has declined over 20% since April on concerns about the country's widening CAD, slowing economic growth and capital outflows
 "Rupee instability hampering signing of new contracts: Nasscom")
Fin Min sends letters to indirect tax defaulters
The idea to send such 'polite letters' is the brain child of Finance Minister P Chidambaram, say officials
 "Fin Min sends letters to indirect tax defaulters")
Dollar not alone, rupee breaches key levels across the board
Against the most prominent foreign currency US dollar, the rupee has fallen to a record low of Rs 68.75
 "Dollar not alone, rupee breaches key levels across the board")
Banking licence to help cut R-Cap's debt by Rs 15,000 cr: Anil Ambani
Reliance Capital is one of 26 applicants for new banking licences
 "Banking licence to help cut R-Cap's debt by Rs 15,000 cr: Anil Ambani")
Corporate bond street still dry, as yields trading high
The falling rupee has not only impacted bond yields but also issuance of corporate bonds
 "Corporate bond street still dry, as yields trading high")
FinMin makes first move on FSLRC despite Subbarao's reservations
Proposes to acquire DICGC from RBI, increase capital to Rs 3,000 crore
 "FinMin makes first move on FSLRC despite Subbarao's reservations")
Scaling up, managing risks key to rating Ratnakar Bank: Icra
The bank's asset quality was fairly sound, with low slippages, strong recoveries and robust balance sheet growth, Icra said
 "Scaling up, managing risks key to rating Ratnakar Bank: Icra")
RBI suggests banking sector overhaul
Discussion paper moots continuous banking licence regime; 4-tier structure; says less govt stake in PSBs is a good idea
 "RBI suggests banking sector overhaul")
Shockwaves make FM embark on a rescue mission
Chidambaram says steps to counter 2008 crisis also led to rupee slide
 "Shockwaves make FM embark on a rescue mission")
Subsidiarisation may not be mandatory for foreign banks
Centra bank had proposed to incentivise existing foreign banks to convert into wholly-owned subsidiaries of their parent banks
 "Subsidiarisation may not be mandatory for foreign banks")
ECB rates to remain low for an extended period
Council members have since given mixed views on the prospect of a fresh cut in the main rate below 0.5%
 "ECB rates to remain low for an extended period")
Record rupee plunge pushes gold to new high
Lower expectation of US tapering in expansion programme, tension in Arab world contribute, as do recent govt decisions
 "Record rupee plunge pushes gold to new high")
RBI for stringent entry norms for new banks, 4-tier structure
In the proposed four-tier system, RBI has proposed a top tier consisting of 3-4 large banks with presence both in the country and outside, along with foreign bank branches
Domestic factors responsible for rupee depreciation too: Chidambaram
Decisions in 2008 taken to ensure growth, stable economy, depreciated the rupee
 "Domestic factors responsible for rupee depreciation too: Chidambaram")
Gold futures set new record
Yellow metal made a record high on Nov 26, 2012, to settle at Rs 32,464 per 10 gm
 "Gold futures set new record")
Rupee slips below Rs 102-level against Pound; hits new bottom
Rupee has depreciated by over 21% against the pound in the past three months
 "Rupee slips below Rs 102-level against Pound; hits new bottom")