Page 872 - Finance News
ICICI, Union Bank of India cut savings rate
SBI started the trend on July 31 with a cut of 50 basis points on savings deposits
 "ICICI, Union Bank of India cut savings rate")
Andhra Pradesh Grameena Vikas Bank to raise up to Rs 800 crore
SBI indicated that it plans to list two RRBs sponsored by it in the next one year
 "Andhra Pradesh Grameena Vikas Bank to raise up to Rs 800 crore")
Blue Rs 50 note: All you need to know about the new banknote
The base colour of the note, to be launched by RBI soon, is fluorescent blue
 "Blue Rs 50 note: All you need to know about the new banknote")
Coming soon: New series Rs 50 currency notes in fluorescent blue colour
Bank notes of Rs 50 denomination issued by RBI in earlier series will continue to be legal tender
Lower RBI dividend not unexpected: Sanjeev Sanyal
We are trying to move from a patronage-based society to a rule based society, he adds
 "Lower RBI dividend not unexpected: Sanjeev Sanyal")
Housing finance: Will the party last?
It's been a two-year bull run in HFC shares, stoked by govt initiatives
 "Housing finance: Will the party last?")
HDFC Bank, PNB cut savings rate by 50 basis points
Axis, BoB and HDFC Bank all followed SBI's 50 bps cut to 3.5% from the existing 4%
 "HDFC Bank, PNB cut savings rate by 50 basis points")
Axis Bank to waive 12 EMIs on regular home loan repayment
The lender has introduced Shubh Aarambh Home Loans, in which 12 EMIs are waived
 "Axis Bank to waive 12 EMIs on regular home loan repayment")
Srei Equipment Finance to raise Rs 2,000 crore via IPO, dilute 25%
The company is looking at 20-30% annual growth over the next few years
 "Srei Equipment Finance to raise Rs 2,000 crore via IPO, dilute 25%")
After HDFC Bank, PNB cuts interest rate on savings account by 0.5%
The new interest rates will be effective from August 19
 "After HDFC Bank, PNB cuts interest rate on savings account by 0.5%")
Nationwide bank strike on Aug 22 against privatisation, PSBs consolidation
Bank Board Bureau formed to bring all PSBs under banking investment company, govt's share below 50%
 "Nationwide bank strike on Aug 22 against privatisation, PSBs consolidation")
No more lobbying in public sector bank appointments: Govt
PSBs need leaders to clean up books, introduce transparent processes, ensure merit based decisions
YES Bank cuts savings deposit rate by 25-100 bps
Bank also slashed interest rate on savings accounts to 6.25% from existing 6.5%
 "YES Bank cuts savings deposit rate by 25-100 bps")
Farmers can avail crop loans up to Rs 3 lakh at subsidised rate of 7%: RBI
However, this interest rate could go down to 4% on prompt repayment; Aadhaar linkage mandatory
 "Farmers can avail crop loans up to Rs 3 lakh at subsidised rate of 7%: RBI")
Patel pushed 0.25% repo rate cut to 6%, transmission by banks: MPC minutes
He argued that low food prices were unusual, vulnerable to upward pressures
 "Patel pushed 0.25% repo rate cut to 6%, transmission by banks: MPC minutes")
YES Bank cuts savings a/c interest rate by 1% for deposits up to Rs 1 lakh
The bank has also slashed interest rate on savings accounts to 6.25% from existing 6.5%
MPC members warn inflation could accelerate: RBI minutes
Governor Urjit Patel said in Aug 2 meet that there's still space for banks to cut rates
Govt risks creating 'moral hazard' by injecting funds into IDBI: Fitch
Govt injected $296 mn into IDBI to prevent missing a coupon payment on an AT1 bond
Wilful defaulters owe Rs 92,000 cr to PSU banks
There has been a 10% increase in the number of willful defaulters
 "Wilful defaulters owe Rs 92,000 cr to PSU banks")
HDFC Bank plans to raise Rs 15,000 cr via infra bonds
The bank's total advances stood at Rs 580,976 cr at June-end, an increase of 23.4% over a year