Punjab National Bank, the country's second largest state-run lender, today said there is no further scope for the banks to slash their lending rates.

Little scope for banks to slash rates now: PNB

Press Trust of India

&quot;The bank is cutting its prime lending rate by 50 basis points from 12.50 per cent to 12 per cent effective April 1,&quot; a senior bank official said.

OBC to slash prime lending rate by 50 bps from next month

State-run lenders Oriental Bank of Commerce (OBC) and Allahabad Bank today announced cut in their prime lending rates (PLR) by 50 and 25 basis points, respectively, with effect from next month.

OBC, Allahabad Bank cut prime lending rates

Two weeks after the Reserve Bank of India (RBI) announced its last set of monetary measures, four public sector lenders &ndash; Oriental Bank of Commerce (OBC), Allahabad Bank, Uco Bank and United Bank of India (UBI) &ndash; said today that they would lower lending rates by 25-50 basis points from April 1.

While Allahabad Bank and UBI said that they would lower their benchmark prime lending rates (BPLRs) by 25 basis points, Uco Bank and OBC announced a reduction of 50 basis

4 banks cut PLR by 25-50 bps

Business Standard

India&rsquo;s foreign exchange reserves went up by $5.1 billion to $253.83 billion during the week-ended March 20, 2009, mainly on account of a revaluation of currencies and an inflow of foreign funds into the equity market.

Forex reserves see highest weekly rise in 13 months

Public sector lender, Central Bank of India, today said that it has reduced its benchmark prime lending rate by 0.50 per cent to 12 per cent.

Central Bank cuts BPLR by 50 bps from April 1

Prime Minister Manmohan Singh today informed industry leaders that he has asked the Reserve Bank to look into the issue of high interest rates coming in the way of reviving economic growth.

PM asks RBI to look into high interest rates

State Bank of India, India&rsquo;s largest lender, may cut interest rates in the new financial year on the back of a lower-than-expected credit growth.

SBI chairman hints at rate cut

Public sector lenders Central Bank of India and Andhra Bank reduced their benchmark prime lending rates (BPLR) today.

Andhra, Central Bank cut prime lending rates

Will take up the issue of protectionism at G20 meet, PM tells industry.

'Interest rates to be eased'

Come April 1 and you need not have to sweat it out looking for an ATM of your own bank as you can use ATMs of your choice without shelling out any extra money.

Free cash withdrawals from all ATMs from April 1

The much-awaited credit card from the Life Insurance Corporation (LIC)-Corporation Bank stable is likely to hit the market in the next two days, a Corporation Bank official has said.

LIC-Corp Bank credit card likely to be launched soon

As financial year 2008-09 draws to an end, banks have started paring their exposure to mutual fund instruments, especially liquid funds, to manage their capital adequacy ratio.

Banks pare exposure to MFs

The Indian rupee depreciated by 33 paise to 50.91 against the US currency in early trade today on fears of weak opening on the domestic bourses, which could trigger capital outflows.

Rupee depreciates by 33 paise against dollar

The Indian rupee breached the 51 level in the morning trade as oil refiners stepped up dollar buying at the month-end amid weak equity markets.

Rupee breaches 51-level, down 43 paise vs $

Credit rating agency ICRA and IndusInd Bank (IB) have signed an agreement under which ICRA would assign ratings to IB's loans under the Reserve Bank of India's (RBI) New Capital Adequacy Framework for Basel-II.

ICRA to assign rating to IndusInd Bank's loan

The government today approved restructuring of state-owned United Bank of India's capital, which includes reduction in paid-up equity by over 80 per cent to improve its financial parameters.

Cabinet approves cap restructuring of United Bank, infuses Rs 800 cr

The banking institutions issuing loans to the corporate professionals and students pursuing professional courses have received a setback due to the massive lay offs and declining placements. These &lsquo;professionals&rsquo; have emerged as the prime defaulter in the view of ongoing slowdown during the last six months.

Slowdown blues: Professionals top list of defaulters

Mangalore-headquartered public sector lender Corporation Bank is proposing to raise Rs 400 crore by issuing lower Tier-II bonds on private placement basis with greenshoe option of Rs 100 crore. The bonds will be in the form unsecured redeemable non-convertible subordinated in the nature of promissory notes.

Corporation Bank to raise Rs 400 cr via bond issue

The Indian rupee today plunged by 60 paise to end below 51 to the greenback after a gap of six trading days, at 51.18/19, following a sharp decline in equity markets amid month-end dollar demand.

Re plunges 60 paise to end at 51.18/19 vs dollar

Kolkata-based Allahabad Bank has entered into an agreement with UAE Exchange &amp; Financial Services for inward money transfer services.

Allahabad Bank partners with UAE firm for remittance facility

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