The Reserve Bank of India's move to choke the flow of credit to sensitive sectors -- real estate and capital markets -- seems to have worked partly for public sector banks with the growth in the flow of credit to these segments dipping to 31 per cent during 2007-08 from 43.6 per cent during the previous financial year.

Real estate pushes up PSU bank lending to sensitive sectors

Business Standard

The indications are all there but it will still be a few days before banks start raising lending rates that affect your equated monthly instalments (EMI).

Banks to decide on rate hike next week

Punjab National Bank, the country's second largest public sector lender, today said it plans to dilute 20-30 per cent stake in its subsidiaries  PNB Gilts Ltd and PNB Housing.

PNB plans to dilute stake in subsidiaries

At least two public sector banks  Union Bank of India and Indian Overseas Bank (IOB)  have quietly increased interest rates on short-term deposits to raise resources and manage asset-liability mismatch.

PSU banks tweak deposit rates, quietly

Calling the present level of inflation unacceptably high, Reserve Bank of India governor YV Reddy said that the central bank is ready to take steps to cool prices. 


`RBI is ready to take action`: Reddy

Around 25-30 per cent of corporate insurance policies that come up for renewal on April 1 have secured discounts in excess of 60 per cent. The move follows the Insurance Regulatory &amp; Development

Firms renew policies at 60% discount

Global financial institutions such as Goldman Sachs, Morgan Stanley, JP Morgan, Credit Suisse and Nomura among others are in the race to acquire a minority stake in ICICI Securities (I-Sec)  the

ICICI Bank may sell 12% in broking arm for Rs 3,600 crore

The British havent had a recession for so long, they appear to have forgotten what they are like. They are about to get a sharp reminder. 


King may be sleepwalking into recession

Shareholders are losing money. Bankers are fuming. Lawyers are smiling. And the auditors  ah well, they are just waking up.


India`s currency bets turning sour

The Raghuram Rajan panel has suggested a change in Reserve Bank of Indias (RBI) strategy in managing inflation. 


`Use short-term rates to beat inflation`

Raghuram Rajan couldnt have found a more inopportune moment to present his blueprint for financial-sector development in India.


Rajan committee report ill-timed

The Insurance Regulatory and Development Authority (Irda) has fined 10 insurance companies, including both the insurance arms of the Bajaj Auto Group, Reliance General, United India, Iffco-Tokio, New

Irda fines 10 insurers

SKS Microfinance Private Limited is planning to sell solar lamps and groceries to its members apart from marketing GSM handsets for a service provider. The company is currently finalising the strategy

SKS Microfinance to offer solar lamps, groceries

CRR hiked by 50 bps to 8% in two stages; Rs 18,500 cr to be sucked out by May 10.

RBI moves to douse inflation fire

Rating agency Crisil has downgraded ICICI Banks securitised car and personal loan pool worth over Rs 203 crore from AAA (so) to AA (so) due to rising defaults on payments by borrowers.


ICICI Bank`s securitised loan pool downgraded

The turmoil in the global financial markets has cast its shadow on Indias largest real estate deal.

Sub-prime shadow on Indian realty

In a significant shift in its stance, the Reserve Bank of India  the custodian of Indias foreign exchange reserves  has supported the proposal to set up a sovereign wealth fund (SWF).

RBI supports SWF plan

Enthused by the response to the National SME Excellence Award, Corporation Bank has launched Corp Excel 2008  National mSME Excellence Awards 2008.

Corporation Bank rolls out award for SMEs

It would allow US investors to access Indian, Chinese currencies.


S&P launches Rupee, Renminbi indices

Press Trust of India

The Reserve Bank of India has withdrawn the blanket ban imposed on the international audit and consultancy firm PricewaterhouseCoopers (PwC) from auditing banks and non-banking finance institutions.

RBI lifts ban on audit firm PwC

International claims of Indian banks have risen by 41.15 per cent to Rs 1,49,167 crore at the end of June 2007 on account of higher exposure to guarantees, derivatives and credit commitments. 
<P

Banks see 41% rise in international claims

Finance News: Latest investing news and finance headlines straight from Business Standard.

Page 1369 - Finance News