Page 1333 - Finance News
Market value of IT cos gain in Aug as rupee tumbles
Hexaware Tech's market value stands at Rs 3,607 crore against Rs 3,416 crore at start of month, registering a gain of 5.6%
 "Market value of IT cos gain in Aug as rupee tumbles")
Govt has not drawn any red line on rupee value: Montek
Last week, rupee touched an all time low of 65.56 against dollar on Thursday
 "Govt has not drawn any red line on rupee value: Montek")
Weak rupee effect: Imported bicycles to cost 10% more
However, demand for bicycles is not likely to go down despite price hike
 "Weak rupee effect: Imported bicycles to cost 10% more")
Public sector banks faces shortage of 56,000 employees
Bank of Baroda tops the list with as many as 3,615 vacancies
 "Public sector banks faces shortage of 56,000 employees")
PC industry braces for another round of price increase
Despite festive season ahead, PC vendors say they have no option but to pass on costs to consumers
 "PC industry braces for another round of price increase")
How to manage your home loan repayment post rate hike
Ask your bank to increase EMI rather than increase in tenure. If you can prepay small amounts regularly and manage your EMI comfortably, opt for this
Lower interest rates alone not enough to drive growth: RBI
RBI has been traversing growth-inflation knife edge recently
 "Lower interest rates alone not enough to drive growth: RBI")
Insurers allowed to invest in private equity, debt funds
At least 51% of the funds of these Category II AIF to be invested in entities in areas of infrastructure, SME entities or Venture Capital undertakings
 "Insurers allowed to invest in private equity, debt funds")
Six state-run banks fined for violating KYC, AML norms
Collective fine for these banks is Rs 6 crore, highest penalty of Rs 2 crore was levied on Dena Bank
 "Six state-run banks fined for violating KYC, AML norms")
NHB net profit rises by 16% to Rs 450 crore in FY13
Bank earned net profit of Rs 387 cr in the previous fiscal
 "NHB net profit rises by 16% to Rs 450 crore in FY13")
RBI slaps Rs 6.5 cr penalty on 6 PSU banks for KYC violations
Penalty follows scrutiny of books of accounts, internal control, compliance systems and processes of these banks at their offices by RBI during April and May 2013
 "RBI slaps Rs 6.5 cr penalty on 6 PSU banks for KYC violations")
Lakshmi Vilas Bank hikes base, deposit rates
Private lender has also hiked its deposit rates by 50-275 basis points across maturities
Axis Bank, DCB raises non-resident deposit rates
The bank now offers maximum of 10.25% interest on its NRE deposits
 "Axis Bank, DCB raises non-resident deposit rates")
Rupee to strengthen to 60 vs US dollar by March 2014: CRISIL
CRISIL expects CAD to fall to 3.9% of GDP in 2013-14 with 4.8% last year
 "Rupee to strengthen to 60 vs US dollar by March 2014: CRISIL")
Rupee decline no longer due to CAD but fear, says Credit Suisse
This fear, Credit Suisse said, if not addressed in time, can be dangerous
 "Rupee decline no longer due to CAD but fear, says Credit Suisse")
Rising rates, slow business growth to hit loan demand
In early August, credit growth had risen to 5-month high of 16.6% after sub-15% levels since beginning of FY14
 "Rising rates, slow business growth to hit loan demand")
Bank of Maharashtra hikes base rate
Raises base rate by 25 bps to 10.25 from Aug 26
Rising rates, slow business growth to dent loan demand
Analysts fear repeat of 1991-92 situation
 "Rising rates, slow business growth to dent loan demand")
RBI sees FY14 gross NPAs at 4.4%, but no systemic risk
System wide gross NPAs rose to 3.42% in FY13 from 2.94% in FY12