Page 1338 - Finance News
Only those who don't have eyes & ears say there is no growth: FM
Chidambaram said that earlier the impression was that the banking industry meant for the rich people
 "Only those who don't have eyes & ears say there is no growth: FM")
JPMorgan hiring in China under US scrutiny: NYT
According to a report posted on NYT's online edition, JPMorgan Chase & Co hired the children of powerful Chinese officials to help it win business in China
 "JPMorgan hiring in China under US scrutiny: NYT")
RBI diktat to be no sweat for India Inc's big boys
Top firms will have enough firepower to go for foreign M&As, given their balance sheet growth, say bankers
 "RBI diktat to be no sweat for India Inc's big boys")
First Islamic financial services firm launched
The company has been formed by a group of Gulf-based NRI businessmen and the KSIDC
Banks must oblige govt's policy: FM
Says all banks should oblige government's policy to take banking service across the country
 "Banks must oblige govt's policy: FM")
First Sharia-based NBFC to open in Kerala after RBI nod
RBI has permitted Kerala Industrial Development Corporation to float a non-banking finance company and offer products based on Islamic finance principles
 "First Sharia-based NBFC to open in Kerala after RBI nod")
FinMin seeks relaxation in SBI chief's selection norms
As per existing guidelines only one of four Managing Directors, Arundhati Bhattacharya, eligible for post of Chairman
 "FinMin seeks relaxation in SBI chief's selection norms")
Rate cuts may be delayed with RBI focus on rupee: Barclays
Financial services major believes key policy rates would be eased by as much as 75 basis points
 "Rate cuts may be delayed with RBI focus on rupee: Barclays")
 "Rupee plunges with Asian currencies on Fed tapering concerns")
RBI committed to inflation control as it cares for growth, says Subbarao
Dismisses the view that govts are for growth and central banks for price stability
 "RBI committed to inflation control as it cares for growth, says Subbarao")
Moody's downgrades ratings for PNB, BoB & Canara Bank
Says tough times ahead for Indian banks as bad loans balloon, margins take a hit
 "Moody's downgrades ratings for PNB, BoB & Canara Bank")
PNB raises NRI deposits rates by 1%
These will be applicable from the close of the business on August 14
 "PNB raises NRI deposits rates by 1%")
Bond auction partially devolves as yield rises
Negative sentiments in bond market led to partial devolvement in govt bond auction
 "Bond auction partially devolves as yield rises")
ICICI Bank hikes term deposit rates by 50-75 bps
The bank has, however, kept its base rate or minimum lending rate, unchanged at 9.75%
 "ICICI Bank hikes term deposit rates by 50-75 bps")
CD ratio of 21 districts below 60% in Odisha
Credit-Deposit ratios in seven districts - Deogarh, Gajapati, Jagatsingpur, Kadhamal, Kendrapada, Malkangiri, and Sambalpur below 40%
 "CD ratio of 21 districts below 60% in Odisha")
MFs withdraw Rs 24,000 cr from debt schemes in July
They had invested a staggering Rs 65,000 crore in debt schemes in June
 "MFs withdraw Rs 24,000 cr from debt schemes in July")
Rupee hits all time low, touches 62/$ despite RBI measures
However, recovers in afternoon trade on dollar selling by exporters
RBI will have limited scope to intervene in FX market
Economists though say RBI is in a comfotable situation with forex reserves
 "RBI will have limited scope to intervene in FX market")
Now harder for Indians to pick up Apple, Facebook shares
RBI's move to cap remittances likely to hit Indian appetite
 "Now harder for Indians to pick up Apple, Facebook shares")