Page 1362 - Finance News
Banks choose CBLO market over RBI's liquidity window
LAF borrowing dips to Rs 17,215 cr on Wednesday from Rs 74,780 cr on Tuesday
 "Banks choose CBLO market over RBI's liquidity window")
Companies prefer bonds over bank credit due to slow monetary transmission
Tentative data from Prime Database shows that corporates raised Rs 72,075 cr in April-June this fiscal
 "Companies prefer bonds over bank credit due to slow monetary transmission")
Bankers sing FM tune, agree to cut interest rates
BoI reduces base rate 25 bps; others to follow suit
 "Bankers sing FM tune, agree to cut interest rates")
Focus on top 30 defaulters: Chidambaram
Says action will be taken against defaulters, especially when there is a case of wilful default
 "Focus on top 30 defaulters: Chidambaram")
Rupee crosses 60 again, closes at 60.22
Capital outflows, importers' dollar demand weigh on value
 "Rupee crosses 60 again, closes at 60.22")
Subbarao's 10 commandments for the central bank
The RBI governor gives attributes for the central bank to be future-ready, to facilitate itself to transform knowledge into wisdom
 "Subbarao's 10 commandments for the central bank")
NBFCs get breather on fund raising via NCDs
The central bank deferred the six-month gap clause and said the appropriate gap would be reviewed
 "NBFCs get breather on fund raising via NCDs")
S&P cuts Barclays, Credit Suisse, Deutsche Bank ratings
Long-term counterparty credit ratings for Barclays and Deutsche Bank were cut to A from A+, while Credit Suisse Group was reduced to A- from A
 "A Snapshot of pe activity & deals")
Banks' profitability likely to come under pressure
The banking sector is expected to face headwinds from rising provisioning requirements, lower treasury gains and pressure on margins
 "Banks' profitability likely to come under pressure")
Bank of India cuts base rate by 25 bps to 10%.
New rate would be effective Monday
 "Bank of India cuts base rate by 25 bps to 10%.")
State-run banks aim to open over 8,000 branches: FM
Banks also to hire over 50,000 people
RBI puts on hold debt private placements rules for NBFCs
The NBFC sector tends to have less regulatory oversight than banks and relies heavily on capital markets to fund its business
 "RBI puts on hold debt private placements rules for NBFCs")
YES Bank board says no to Shagun Kapur Gogia
Bank's board met on Thursday afternoon after the High Court directed bank to advance its board and consider Gogia's appointment
 "YES Bank board says no to Shagun Kapur Gogia")
RBI moots extra provisioning for unhedged forex exposure
Scale of risky corporate positions remains significant; poses higher default risk
Parent branding to have a big role in banking foray
Using brand names of parents will help bank aspirants connect with new customers
 "Parent branding to have a big role in banking foray")
India Post needs to become a corporate for banking foray
A government-run entity cannot come under RBI purview
 "India Post needs to become a corporate for banking foray")
New banking licence aspirants
Suryamani Financing Co Ltd (SFCL) is part of the Kolkata-based Pawan Kumar Ruia Group, promoter of the beleaguered tyre-maker Dunlop India
No limit on number of new bank licences: Chidambaram
RBI is expected to grant new licences by March next year
 "No limit on number of new bank licences: Chidambaram")
IOB to focus on asset quality, CASA deposits
Bank's total business as on March 31, 2013, reached Rs 3,66,501-cr from Rs 3,21,707-cr a year ago, an increase of around 13.28%
 "IOB to focus on asset quality, CASA deposits")