The Reserve Bank of India (RBI) has prepared a comprehensive financial literacy guide to help in creating financial awareness and educating common people on the management of money, the importance of savings, advantages of saving with banks, other facilities provided by banks and benefits of borrowing from banks.

RBI comes up with financial literacy guide

Business Standard

Following the cut in repo and cash reserve ratio (CRR) by the Reserve Bank of India (RBI), two more large public sector lenders pared their base rates by 25 basis points (bps).

More banks cut lending rates

To discourage the use of cheques, a discussion paper by the Reserve Bank of India (RBI) suggested today that banks charge for cash withdrawal and deposit through cheques. And, that government agencies do away with convenience charges for online payment of utility bills. Plus, discouraging cheque collection boxes at public places.

RBI discussion paper on bringing down cheque use

India ratings said major NBFCs&rsquo; robust pre-provisioning profits (gross profits) provides a strong cushion against rising credit costs and elevated funding costs and there will be only limited impact of proposed regulatory changes on these companies and in the long term will strengthen the sector.

India Ratings' stable outlook for NBFCs

Rajiv Takru, set to take charge as secretary, department of financial services, under the finance ministry, from tomorrow, would meet all chairmen and managing directors of public sector banks on Tuesday to take stock of the government&rsquo;s flagship programme &mdash; the Direct Benefits Transfer.

Takru to meet PSB chiefs on Feb 5

With better returns offered by tax-free bonds and liquid mutual funds, State Bank of India (SBI) has witnessed a flight of deposits worth over Rs 15,000 crore in the last few weeks.

SBI sees flight of deposits worth Rs 15,000 crore

The finance ministry has asked government banks to reduce the fixed deposit (FD) rate offered to senior citizens to reduce cost of funds. At present, most public sector banks offer 50 basis points more to senior citizens than what they offer to others. Some private sector banks, like ICICI Bank, offer 75 basis points more to seniors.

FinMin: Cut FD rates for senior citizens

The Reserve Bank of India has proposed a steep rise in the provisioning requirement for loan restructuring &mdash; to five per cent from April 1, against 2.75 per cent at present.

RBI cracks whip on loan recast

Snapping a three-day rising streak, the rupee today fell by 10 paise to 53.32 against the dollar in early trade at the Interbank Foreign Exchange (Forex) market on fresh demand for the American currency from banks.

Rupee down 10 paise at 53.32/dollar

Press Trust of India

Most state-run banks' earnings are likely to remain under stress in the coming quarters following the Reserve Bank of India's (RBI) proposal to increase the provisioning requirement for restructured loans sharply.

Steep provisioning norms to stress state-run banks' earnings

Bank of Baroda cut Base Rate and BPLR by 25 basis points effective February 9, the bank said in a press release. Following the cut, BoB's Base Rate will be 10.25% and BPLR will be 14.5%.

BoB cuts lending rates by 0.25% 

DBS says India's 10-year bond yield will be the only one falling over the next six months among the 10 Asian markets it tracks.

DBS expects RBI to gradually lower rates

Reuters 

The Reserve Bank of India has issued final guidelines on disclosure of restructured advances by banks, effective fiscal 2012-13. Simultaneously, the RBI has issued draft guidelines on asset classification and provisioning norms for restructured accounts, among other issues.

RBI proposal on advances likely to push up NPAs: ICRA

GE Countrywide, which has been rebranded under the new global umbrella brand as GE Money, expects to treble its assets to Rs 16,000 crore by 2008. GE Consumer Finance is the third largest division of

GE Money targets Rs 16000 cr assets by `08

The spot rupee opened at 44.09 per dollar, and dropped to a low 44.12 before recovering to close at 44.03 per dollar today.<BR><BR>Sentiment was bullish in the government securities market today.

Re moves up to 44.03/$, gilts rally

IndusInd Bank today announced the launch of VISA money transfer - a card-to-card money transfer facility.


IndusInd launches VISA money transfer

The Reserve Bank of India (RBI) has modified the structure of fees paid for government business to banks. This will have an adverse impact the bottom line of the banks.


Cut in govt business fees to hurt banks

Syndicate Bank on Thursday said it has raised $75 million by way of syndicated loan issues from the overseas market. 


Syndicate Bank raises $75 mn loan

India Inc raised a total of $606 million through external commercial borrowings ( ECB) route in July 2005. 


India Inc raises $606 m via ECBs

Life Insurance Corporation of India (LIC) south zone, will have four satellite offices of the 29 satellite offices being rolled out throughout the country.


LIC south to have 4 satellite offices

ICICI Bank hiked the interest rates on non-resident external fixed deposits and dollar denominated foreign currency non-resident (bank) accounts deposits by up to eight basis points across various

ICICI Bank ups NRE, FCNR rates

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