Page 1589 - Finance News
Allahabad Bank cuts home loan rates
Rate cut in addition to concessions in interest rates, processing fees under festival offer
 "Allahabad Bank cuts home loan rates")
Selling by bank aspirants gives midcaps shivers
Top NBFCs in margin funding space prune market exposure to comply with bank licence norms
7 new firms get access to EPFO money
The organisation can invest in bonds of private companies with dual 'AAA' rating, say new norms
 "7 new firms get access to EPFO money")
 "Demand for agricultural credit remains high: RBI")
 "Ahead of policy review, RBI gets conflicting signals")
 "Nabard bets on mechanisation for farm credit growth")
India is new focus for Societe Generale
French bank opens branch in Sanand; plans 4 more in the country
 "India is new focus for Societe Generale")
Banking supervisors may seek to simplify Basel III
Global banking regulators will examine whether their new rules forcing lenders to hold more capital to absorb any future losses should be simplified after criticism that they are too complex to be eff
Credit growth to industry slows to 15.2% in Jan
The central bank said non-food bank credit rose 14.6% in January compared to 15.9% a year ago
 "Credit growth to industry slows to 15.2% in Jan")
Kotak raises Rs 490 cr for its infra PE fund
In addition to Kotak itself, the fund received commitments from Sumitomo Mitsui Banking Corporation and an affiliate of Brookfield Asset Management, JBIC
 "Kotak raises Rs 490 cr for its infra PE fund")
Govt to launch 1 bn units of Rs 10 plastic notes in 5 cities
Field trial will be conducted in five cities -- Kochi, Mysore, Jaipur, Bhubhaneswar and Shimla
Job applications flood State Bank
1.7 mn in the running for 1,500 probationary officers' positions; job profile, security and good pay lure aspirants
 "Job applications flood State Bank")
Banks' borrowing crosses Rs 1-lakh-cr on tight liquidity
Banks will tend to wirhdraw more from RBI's short term LAF to manage fund requirements
 "Banks' borrowing crosses Rs 1-lakh-cr on tight liquidity")
SREI looks to set up bank
Plans on converting some of its 28,000 rural centres into banks if gets a license
Profitability of L&T Housing Finance may stay low: Icra
Rating for long term loans upgraded to "AA" from "BBB"
 "Profitability of L&T Housing Finance may stay low: Icra")
Dredging Corporation to raise Rs 500 cr through tax-free bonds
The tenure of the bonds are 10 year and 40% of the issue is earmarked for retail investors
India Inc invests $1.65 bn in February in foreign countries
In outward FDI, Indian companies had equity contribution of $291 mn, while they gave loans worth $258 mn