NRI deposits slumped to $232 million in November from $1.3 billion in the previous month, according to data released by the Reserve Bank of India yesterday. During July to September, NRI inflows stood

NRI deposits saw massive fall in November

Business Standard

Asian Development Bank (ADB) will launch its maiden bond issue in India on February 23. 


ADB to launch maiden bond issue on Feb 23

The chairmen and chief executive officers of private sector banks won't any longer have to knock on the Reserve Bank of India's (RBI) doors for clearance every time they want to go abroad. 


Foreign visits of bank brass freed

In tune with the industrial upswing, third quarter (October-December 2003) profit before tax and net profit of 445 companies assisted by Industrial Development Bank of India (IDBI) increased 65.9 per

Q3 net up 79% for 455 IDBI-aided firms

Market stabilisation bonds/bills (MSBs) are likely to be launched along with the revised liquidity adjustment facility (LAF) proposed by the Reserve Bank of India few months back. 


Stabilisation bonds braced for debut with revised LAF

The spot rupee is due for further gains this week as the dollar weakens. According to dealers, the spot rupee is likely to hover in the range of 45.25-45.28 against the dollar. 


Rupee seen around 45.25-45.28/$

To promote housing activities, the Rajasthan government has signed a memorandum of understanding (MoU) with the State Bank of Bikaner and Jaipur (SBBJ) and HDFC. 


Cheap loans for Rajasthan employees

The Economist released its India survey "India's Shining Hopes" in Mumbai yesterday. 


The Economist releases India survey

Standard Chartered Bank launched its equated monthly installments (EMI) card yesterday. 


StanChart Bank launches EMI card

Reserve Bank of India (RBI) has directed its regional offices to process quickly and give 'in-principle' approval within a fortnight to all applications from public sector banks for opening currency

RBI to speed up currency chest nod to banks

It is not just the big cities that are shining for retailers and marketers. Consumer spending metrics are increasingly pointing to the fact that smaller cities like Chandigarh, Pune, Ludhiana, Indore

Small city consumers spending more on higher disposable income

ICICI Bank has securitised personal loans worth Rs 349.82 crore. 


ICICI Bank securitises Rs 350 crore personal loans

To simplify current account transactions, the Reserve Bank of India has announced another tranche of transactions which will henceforth not require RBI approval before being effected. 


RBI simplifies current account transactions

Volumes in the secondary bonds market have fallen by almost 60-70 per cent since the rally seen in October-November, 2003. 


Bond volumes plunge 70%

The Reserve Bank of India (RBI) directed all state and district central co-operative banks and regional rural banks (RRBs) to comply with its prudential guidelines on investment in non-statutory

Co-ops, RRBs told to adopt non-SLR norms by March 31

Commerical banks are queuing up in the bond market to raise Tier II capital. Issues worth Rs 2,000 crore are likely to hit the market by March end, said a dealer with a private bank. 


Banks line up to raise Tier-II capital

Reserve Bank of India has asked banks to get their act together and ensure timely achievements of targets, both qualitative and quantitative, for sanction and disbursement of applications under the

RBI urges banks to speed up PMRY performance

National Bank for Agriculture and Rural Development (Nabard) has taken up a participatory exercise for preparing a project plan for the next five years to develop the rural non farm sector in Gujarat.

Nabard to prepare five-year plan for rural non-farm sector

In order to check frauds, the RBI has asked banks to impose monetary limit for international transactions on credit and debit cards and refrain from issuing cards with global access unless specifically sought by the customer.

Impose limit on global transactions of cards, RBI tells banks

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