The global rating agency Moody's may downgrade ratings of 13 Indian banks, including bigwigs such as SBI and ICICI Bank, as the agency would now assess the government's ability to support the banking sector on the basis of the impact of the economic and financial crisis.

Moody's may downgrade ratings of 13 banks

Press Trust of India

State Bank of India on Friday said there was a softening bias in interest rates in the light of inflation staying below 1 per cent for a certain length of time. &ldquo;There is definitely a softening bias (in interest rates). It is not going to increase,&rdquo; said SBI Chairman OP Bhatt.

Softening bias in interest rates: SBI

Barely two weeks after the country&rsquo;s largest banker, State Bank of India, issued a guarantee for a Rs 4,200-crore debenture issue of Tata Motors, the central bank has come down hard on such guarantees.

Stop guarantees for corporate debt issues: RBI to banks

Business Standard

Comfortable liquidity may prompt RBI to defer gilts buyback.

Govt set to fast-track borrowing to avoid interest rate pressure

Rating agency Moody&rsquo;s has placed 13 Indian banks, including State Bank of India, ICICI Bank and Punjab National Bank, on watch for possible downgrade under a global review of systemic support available for the banking sector.

Moody's puts 13 Indian banks on watch

The yield on the 6.05 per cent note due February 2019 climbed 21 basis points this week to 6.70 per cent at the close, according to the central bank&rsquo;s trading system.

Bond yields climb for a fifth week

Finance Minister Pranab Mukherjee will meet heads of public sector banks on June 10 to impress upon them the need to further cut interest rates and increase availability of credit to industry.

FM to meet bankers on rate cut

Allahabad Bank has revised the interest rates on foreign currency non-resident (FCNR) deposits with effect from 1st&nbsp; June, 2009.
For deposits in US dollar, the revised rates are, 2.60 per cent (earlier 2.89 per cent) for one year to less than two years, 2.38&nbsp; per cent (earlier 2.49 per cent) for two years to less than three years,&nbsp; 2.99 per cent (earlier 2.89 per cent) for three years to less than four years), 3.52 per cent (earlier 3.23 per cent) for four years to less than

Allahabad Bank revises FCNR deposits rate

Star Union Dai-ichi Life Insurance Company (SUDLIC), which launched its business operations in February this year, has put an insurance target of Rs 600 crore for the current fiscal.

SUDLIC sets target of Rs 600 cr in 2009-10

To get more deposits with a low rate of interest, State Bank of India (SBI) is planning to tap the rural market and aims to nearly double the number of such accounts to nine crore in two years.

SBI to add 4 cr rural accounts by 2010-11

State-run Central Bank of India is assessing various options to raise capital, which could include a rights issue, a top bank official said.

Central Bank evaluating options to raise capital

Mutual funds started purchasing certificates of deposit (CDs) issued by banks On Tuesday on expectations that interest rates will ease in April, dealers said. Moreover, the CDs placed On Tuesday in primary market will be issued in April and mutual funds expect to get inflows in their liquid schemes next month, dealers said.

MFs buy CDs as rates seen easing in April

The rupee has ended what would be one the most volatile financial years for the currency and foreign exchange dealers are predicting that it could take up to six months before there could be some signs of stability.

Rupee falls 26% in FY09, volatility to continue

Inter-bank call money rate ended up On Tuesday led by a strong demand for meeting two-day reserve needs amid reluctance by banks to lend on the last day of the financial year, dealers said.

Call rate ends up as banks meet 2-day reserve needs

Despite the hardening of yields on government paper in the fourth quarter, bank treasury profits are unlikely to be hit hard for the financial year 2008-09, partly due to purchase of government bonds by Reserve Bank of India (RBI) through open market operations (OMOs).

High bond yields may not hit bank profits

Voicing concern over the global recession, G-20 Finance Ministers have asked their central banks to adopt aggressive and unconventional monetary policies to ensure price stability and restore growth.

G-20 wants central banks to be aggressive

India&rsquo;s largest private sector lender ICICI Bank is slowing down its credit card business and has cut its card base over the past year, Sachin Khandelwal, senior general manager for retail assets, said in Mumbai today.

ICICI Bank slowing cards business

Indian companies raised $452 million through the external commercial borrowing (ECB) route in February. This is the lowest level of overseas borrowings since February last year, when they had borrowed $420.11 million.

Indian companies&#39; ECBs in Feb lowest in a year

American International Group (AIG), the company rescued four times by the US government, is being probed by all 50 state insurance regulators in the US, examining whether the firm violated rules governing workers&rsquo; compensation sales.

US regulators probe AIG workers&#39; compensation

The window operated through IDBI Bank&rsquo;s Stressed Asset Stabilisation Fund (SASF), these finance companies are permitted to raise up to Rs 20,000 crore against certificates of deposits and non-convertible debentures.

NBFCs to get special refinance till June 30

A foreign bank has finally reduced its interest rate. Citibank today said that it will lower its home loan rates by 50 basis points.

Citi cuts home loan rates, other foreign banks wait

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