The country's largest public sector lender, State Bank of India, today said it will freeze interest rates on new car loans at 10 per cent for a period of one year.

SBI freezes new car loans @10%, agri loans @8%

Press Trust of India

Decline in stock markets weighed against the Indian rupee which lost 11 paise to close within the vicinity of 50-mark at 49.72/74 today.

Rupee falls by 11 paise to 49.72/74 a dollar

The state owned IDBI Bank plans to add 200 more branches across the country over next 6 to 9 months. This will take the total branches of the bank in the country to more than 700 by November 2008 from 507 at present.

IDBI Bank plans to add 200 more branches in 9 months

Business Standard

Domestic scheduled commercial banks (SCBs) off-balance exposures, comprising guarantees, letters of credit and derivatives contracts rose sharply by 88.4 per cent in 2007-08. The exposure to forward exchange contracts increased by 94.6 per cent, according to a study by Dun &amp; Bradstreet.

Off-balance exposure of banks soars 88.4% in FY08

Banks have refused to finance term loans of Hindustan Oil Exploration Company (HOEC), which it sought for development of its PY-I field in the Cambay basin.

Banks refuse term loan to HOEC

After home loans, State Bank of India (SBI) today announced a limited-period offer to disburse auto loans for which interest rates would be frozen at 10 per cent for a year.

SBI freezes car loan rates for one year

In what could be seen as a sign of revival for the corporate bond market, Tata Capital&rsquo;s public issue of non-convertible debentures (NCDs) has received an oversubscription of about Rs 800 crore till Friday on the back of participation from high networth individuals (HNIs) and institutions. The issue that opened on February 2 closes on Tuesday.

Tata Capital NCD issue receives close to five-time subscription

State Bank of India, the country&rsquo;s largest lender, today slashed the interest rate on loans to farmers against cold storage and warehouse receipts to 8 per cent &ndash; up to 625 basis point reduction over the existing rates.

SBI loans to farmers at 8 per cent

Transactions amounting to almost Rs 50,00,000 crore were stalled by the all-India strike by over 2,500 employees and officers of the Reserve Bank of India (RBI) On Friday, demanding update of the pension scheme.

RBI staff stir hits Rs 50 lakh crore deals

Evidence that credit markets are thawing.

Corporate bond trading highest in two years

Luxury homeowners are falling behind on mortgage payments at the fastest pace in more than 15 years, a sign the US financial crisis that began with the poorest Americans has reached the wealthiest.

Jumbo loan defaults rise at fast pace in US

No change in the maximum cover of Rs 750 crore.

Pay more for terror cover from April 1

India&rsquo;s foreign exchange reserve dipped by $1.84 billion to $249.70 billion in the week ended February 13 mainly on account of the revaluation in the foreign currency assets.

Forex reserves dip $1.84 bn

India will not allow a greater role for foreign banks in the Indian banking system when the review of the next round of banking reforms begins later this year because of uncertainties surrounding the current global financial crisis.

Govt may not ease norms for foreign banks

The State Bank of India (SBI) Bengal Circle, which registered a 60 per cent growth in its car loans portfolio this year, is bullish on the segment and expects the business to grow further with the launch of the Nano, this March.

SBI eyes business growth after Nano launch

IDBI Bank plans to add 200 branches

India is sitting on unspent foreign assistance worth Rs 78,000 crore and paying commitment charges to the World Bank and the Asian Development Bank (ADB) for not using the sanctioned amount.

India sitting on unspent foreign aid of Rs 78,000 cr

Kenneth Lewis, chief executive officer of Bank of America Corp, was subpoenaed by New York Attorney General Andrew Cuomo, who is investigating whether the bank misled investors related to its acquisition of Merrill Lynch &amp; Co, a person familiar with the matter said.

Lewis to be subpoenaed

Bank of America Corp Chief Executive Officer Kenneth Lewis, under siege from investors on concern the company may be taken over by the US government, said he doesn&rsquo;t need any more federal assistance and can &ldquo;make it through this downturn on our own.

Bank of America ready to go it alone as stock slides

With the ninth bipartite wage settlement meeting of bank employees ending inconclusively in Mumbai on Saturday, the aggrieved United Forum of Bank Unions (UFBU), an umbrella organisation of nine unions, has decided to take up the issue with Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee.

Bank staff to take up wage issue with PM

Banking giant Citigroup has approached the Obama Administration with request for more federal money in an effort to save it from collapse and in lieu of that has offered greater control to the government, media reports said today.

Citigroup seeks more funds, offers more govt control

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