MONEY & BANKING


MDT/PTI 05 October 2012
The IDF would be based on a tripartite agreement between developer, lender (bank) and the IDF and loans by the banks would be refinanced by IDF so that the lenders have free funds for more lending   New Delhi: With an aim of infusing greater funds into infrastructure sector, the...

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MDT/PTI 04 October 2012
RBI had asked banks to reduce exposure to NBFCs giving loan against gold and think this would control the risks in lending towards the precious metal   Chennai: The Reserve Bank of India (RBI) is only trying to ensure that risks of lending towards gold are "controlled" by its...

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MDT/PTI 04 October 2012
According to the central bank, payment systems will be driven by customer demands of convenience ease of use and access and in innovative e-payment products and capabilities   Mumbai: The Reserve Bank of India (RBI) aims to develop a more efficient and integrated payment system in the...

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MDT/PTI 03 October 2012
NPAs or bad loans of public sector banks rose to 1.53% from 1.09%, however private banks reduced their NPAs to 0.46% from 0.56% during 2011-12   Mumbai: Non-performing assets (NPAs) of the banking sector rose sharply to 1.28% in 2011-12 from 0.97% a year ago due to high interest rate...

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Banks woo the depositors till they secure their account, and thereafter they are left high and dry. The RBI should ensure that the bank depositors are treated fairly and equitably so as to give the depositors their due reward for their contribution to the economy Bank depositors are...

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MDT/PTI 27 September 2012
The central bank would consider financial restructuring proposals submitted by UCBs, involving conversion of deposits into equity/IPDI, even if the networth of the bank does not become positive after such conversion of deposits, provided the depositors agree voluntarily for such...

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MDT/PTI 26 September 2012
In order to promote cashless transactions, the Finance Ministry has asked all nationalised banks to cut fees to zero for electronic transfer of fund of up to Rs1 lakh from Rs5 per transfer   New Delhi: To promote cashless transactions, the Finance Ministry has asked public sector...

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MDT/PTI 26 September 2012
According to International Monetary Fund, countries like Australia, Canada, India, and Malaysia have a relatively low degree of exposure to international banking and also avoided the worst of the effects of the global financial crisis   Washington: India seems insulated from the worst...

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MDT/PTI 24 September 2012
RBI has asked all banks to disable cash retraction facility at all their ATMs, however customers will have to be extra careful in collecting money dispensed by the ATM, as they cannot later claim it from the bank New Delhi: Next time you go to an automated teller machine (ATM) to...

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MDT/PTI 21 September 2012
Government is aiming to bring down number of cheque-based transactions by at least 20% through identified branches during FY13   New Delhi: To promote electronic payments, the Union Government has asked banks to reduce cheque-based transactions by at least 20% through identified...

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MDT/PTI 21 September 2012
The design of these new notes to be issued is similar in all respects to the Rs100 banknotes in Mahatma Gandhi Series- 2005, issued earlier and both would remain in circulation   Mumbai: The Reserve Bank of India (RBI) said it will soon issue new banknotes of Rs100 denomination with...

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MDT/PTI 21 September 2012
Reflecting increased off-take of credit across the board, bank credit rose to Rs47.5 lakh crore for the fortnight ending 7th September   Mumbai: Bank credit rose by Rs27,902 crore to Rs47.5 lakh crore in the fortnight ending 7th September reflecting an uptick in economic activity,...

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MDT/PTI 20 September 2012
BofA-ML said improvement in bank liquidity may pull down lending rates by another 50 basis points by March 2013 Mumbai: Within a couple of days of the country's largest lender State Bank of India (SBI) announcing an interest cut, Bank of America Merill Lynch (BofA-ML) on Thursday said...

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MDT/PTI 18 September 2012
According to RBI deputy governor Chakrabarty reduction in policy rates will not serve any purpose unless banks bring down their spreads and pass on the benefits to borrowers New Delhi: Banks are not passing on the benefit of cut in policy rates to the borrowers, Reserve Bank of India...

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MDT/PTI 18 September 2012
CREDAI president Jain said Financial Services Secretary DK Mittal has asked banks to fund under-construction projects on priority basis as well as projects in tier II and III cities   Mumbai: Cash-strapped realty players have sounded upbeat after the Finance Ministry and bankers...

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MDT/PTI 17 September 2012
The four-fold jump in fee income will be made possible primarily by a loan syndication service which SIDBI is launching soon and also earnings from its recently launched credit consultancy centres at SME clusters   Mumbai: Small Industries Development Bank of India (SIDBI) is...

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MDT/PTI 14 September 2012
RBI said banks may use ratings of SME Rating Agency of India in addition to grades provided by other agencies, to assign risks to loans for computing capital adequacy requirements Mumbai: The Reserve Bank of India (RBI) has said banks may use ratings of SME Rating Agency of India...

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MDT/PTI 11 September 2012
According to a report by Prime Database, during the first quarter about 86 institutions and corporates raised funding of Rs64250 crore from private placement market Mumbai: As bank credit remained costly given the high interest rate, corporates turned to private placement market to...

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All microfinance investment vehicles need to introspect and bring in a positive control environment that can encourage accountable and responsible investing. That alone can usher in an era of responsible microfinance on the ground A previous articlei emphasized the importance of having...

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Moneylife Digital Team 10 September 2012
From now on, education loan applicants will now why their applications got rejected   To make sure that education loans are not denied to eligible students, finance minister P Chidambaram has announced that bank officers rejecting applications without sufficient reasons would be...

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