Leading private sector banks have more or less matched state-run banks in fixing their base rates, with ICICI Bank and Axis Bank setting their rates at 7.5 per cent, the same as State Bank of India. HDFC Bank, the second largest private sector bank, has fixed a lower rate of 7.25 per cent.

Pvt banks match SBI in base rate

Business Standard

Private sector lender Lakshmi Vilas Bank has decided to float a subsidiary company for undertaking housing finance business.

Lakshmi Vilas Bank to float housing fin firm

Munich Re&rsquo;s primary insurance unit, Ergo Versicherungsgruppe, will exceed a premium forecast for its international business and said it&rsquo;s in advanced talks to sell life policies in India and China. &ldquo;We are well under way to reach about &euro;4 billion ($4.9 billion) in total premiums this year,&rdquo; said Jochen Messemer, management board member responsible for the insurer&rsquo;s international operations.

Ergo to finalise life policies sale in India

Rs 1,366-crore sale will help the bank meet new promoter shareholding norm.

Kotak to sell 4.5% to Sumitomo

With the base rate regime kicking off from tomorrow, banks are looking at allowing customers to switch to this new loan pricing system from the existing one within a specific time-frame.

Banks want timeline for base rate switch by customers

Commercial papers, the money market instruments to raise funds of less than a year, are set to gain popularity with banks shifting to the new base rate regime.

New lending system to make CPs popular

The Sundaram Finance (SFL) board has decided in principle to acquire 49.4 per cent stake from BNP Paribas Asset Management in both Sundaram BNP Paribas Asset Management Company and Sundaram BNP Paribas Trustee Company, subject to necessary agreements and regulatory approvals.

Sundaram Fin to buy out BNP from AMC

State Bank of India (SBI) on Wednesday extended its eight per cent concessional home loan scheme for another three months till September, which is 0.5 per cent higher than its minimum lending or base rate. SBI fixed its base rate, the minimum lending rate, at 7.5 per cent which would replace its benchmark prime lending rate from tomorrow.

SBI extends teaser loans till September

Press Trust of India

Banks will not lend below the minimum or base interest rate from today as directed by RBI, but may continue to give cheaper credit to some preferred clients as per their discretion under existing agreements.

Banks to dole out discounted loans despite base rate regime

Vijaya Bank has set its minimum lending rate at 8.25 per cent.

Vijaya Bank base rate at 8.25%

A Reserve Bank of India (RBI) report today made a strong case for coordination among the major central banks globally while formulating their stimulus exit strategies, which otherwise could pose major challenges to countries in the form of capital flows.

Central banks must co-ordinate on stimulus exit: RBI report

The development finance institution had registered a net profit of Rs 299 crore in the previous fiscal.

SIDBI profit up 21% to Rs 421 cr in FY10

The announcement of base rates by public sector banks has thrown up a few surprises.

Corp Bank, P&S Bank stand out

A calibrated exit from stimulus packages will be one of the key challenges for governments, including India&rsquo;s, as the world recovers from the 2008 financial crisis, according to a report by the Reserve Bank of India&rsquo;s (RBI&rsquo;s) economic analysis and policy department.

Calibrated exit from stimulus main challenge: RBI Report

Foreign lenders have opted to set their base rates at least 50-100 basis points (bps) lower than their domestic counterparts.

Foreign lenders set lower base rates

Though deregulation of petrol prices has cheered oil marketing companies (OMCs), the base rate regime that banks are shifting to is set to raise the cost of short-term borrowings. As a result, the companies are planning to take the commercial paper (CP) route to raise short-term funds.

Oil marketing firms to tap CPs for short-term money

Issuances of short-term money market instruments fell today because banks were not keen on raising funds at the start of the quarter, dealers said.

Short-term debt issue down

Banks&rsquo; annual performance and their lending to infrastructure will also be discussed widely in the meeting.

Pranab to meet chiefs of north-based banks

The base rate regime, which became operational yesterday, will spur competition among banks but is unlikely to impact their overall profitability, according to ratings agency Crisil.

New system unlikely to hit profitability of banks, says Crisil

Tata Capital, the private equity and financial services arm of the Tata group, is looking at over Rs 600 crore investments for its standalone healthcare fund. The Tata Healthcare Fund will look at taking minority stakes in fast-growing healthcare and pharma companies in India. This fund, which is starting to find its feet, is spearheaded by Visalakshi Chandramouli, who was with Merrill Lynch and Cipla Pharmaceuticals earlier.

Tata Cap healthcare fund eyes Rs 600 cr investments

The life insurance industry is likely to see a significant drop in new business premium collection following new regulations on unit-linked insurance plans, surrender charges and distribution channels.

New income of insurers to fall on changed norms

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