Turin: Uruguay defender Martin Caceres has signed a permanent deal with Juventus, tying him to the Serie A champions until 2016. Caceres joined Juventus for a second loan spell in January from Sevilla and the 25-year-old has impressed enough to earn a four-year contract, with the Italian club spending 8 million on the player. Caceres enjoyed his first spell at Juventus when he signed on a season-long loan deal from...
09:05 AM, May 26, 2012
HDFC Chairman Deepak Parekh has lashed out at the government for it's policy flip flops. ...
08:39 AM, Apr 18, 2012
New Delhi: After three years and 13 consecutive rate hikes, the RBI has finally reversed the gear. In a surprise move, the RBI cut the repo rate - at which it lends to banks - by half a per cent. It is a strong signal to banks to cut interest rates on loans. Deepak Parekh said, "RBI has bitten the bullet." The banks admit the signal can't be ignored -...
08:59 PM, Apr 17, 2012
Mumbai: State Bank of India, the country's largest lender, will cut lending rates on loans that have high interest rates, Chairman Pratip Chaudhuri said on Tuesday. Earlier in the day, the Reserve Bank of India cut its repo rate for the first time in three years by an unexpectedly sharp 50 basis points to give a boost to flagging economic growth. But it also warned that there is limited scope...
03:55 PM, Apr 17, 2012
Mumbai: In a bid to boost growth, the Reserve Bank of India (RBI), in its annual monetary policy for 2012-13 , has cut the policy rates by 50 basis points. The repo rate now stands at 8 per cent from 8.50 per cent earlier. Similarly, the reverse repo rate is now at 7 per cent from 7.50 per cent earlier. Lauding the central bank, C Rangarajan, chairman of Prime Minister's...
01:12 PM, Apr 17, 2012
Mumbai: The following are the highlights of the Annual Monetary Policy for 2012-13 announced by the Reserve Bank of India (RBI) Governor D Subbarao on Tuesday: * Short term lending rate (repo) lowered by 0.50 per cent to 8 per cent. * Cash reserve ratio retained at 4.75 per cent. * GDP growth for 2012-13 projected at 7.3 per cent. * March-end, 2012-13 inflation expected at 6.5 per cent. *...
12:52 PM, Apr 17, 2012
Mumbai: The Reserve Bank of India (RBI) on Tuesday cut the repo rate by 50 basis points from 8.5 per cent to 8.0 per cent but did not touch the cash reserve ratio, which remains at 4.75 per cent. The cut in the repo rate is an indication that banks could reduce the interest rates on home and car loans. Following is the full text of RBI's Monetary Policy for...
11:35 AM, Apr 17, 2012
New Delhi: A consortium of 19 banks, led by State Bank of India, has approved the financial restructuring plan of debt-laden state-run airline Air India, the Business Standard newspaper reported on Sunday. The plan, which includes debt restructuring of 180 billion rupees by the banks and a committed equity infusion by the union government, will require the cabinet's approval, the report said citing unnamed officials. Officials at Air India could...
02:02 AM, Apr 02, 2012
Thiruvananthapuram: Kerala Chief Minister Oommen Chandy on Wednesday said the state government will act tough on commercial banks that do not provide educational loans to students. "It has come to our notice that banks charge different rates and we make it clear that they will not sit idle, if things do not change," Chandy told reporters here after a weekly cabinet meeting. He said the only condition for all educational...
04:20 PM, Mar 28, 2012
New Delhi: State-run Air India's board on Tuesday approved a $ 195 million bridge loan for financing its purchase of two Boeing 787 Dreamliner aircraft, as the carrier takes its first steps towards a controversial aircraft buy programme. The bridge financing, led by Standard Chartered Bank's India unit, is expected to be closed soon, Air India said in a statement. The carrier will push ahead with its purchase of 27...
02:23 AM, Mar 28, 2012
New Delhi: ICICI Bank has asked embattled Kingfisher Airlines to top up its loan security or adjust the loan amount after the ailing carrier's stock took a severe beating in recent weeks, the airline said. "There is absolutely no recall of the entire loan facility nor any notice for sale of securities," Kingfisher said in a statement. ICICI Bank has lent about 4.3 billion rupees to Kingfisher. Kingfisher, which has...
12:46 AM, Mar 28, 2012
Students do not have it easy as education loans do not come cheap. This year, the student community is hoping that exemptions against education loans are extended to 10 years from the current 8 years. Education qualifications to a great extent shape the careers of students. However, today coaching classes and private tuitions have started having a major impact on their educational excellence. Hence students are hoping that service tax...
05:27 PM, Mar 13, 2012
New Delhi: State Bank of India has no plans to lend more to debt-laden carrier Kingfisher Airlines, Finance Minister Pranab Mukherjee said on Tuesday. Kingfisher has cleared all its tax and interest dues up to August 2011, Mukherjee told Parliament in a written reply. The airline, which has a debt of about $1.3 billion, needs at least $400 million soon to keep flying, according to the Centre for Asia Pacific...
12:57 PM, Mar 13, 2012
Mumbai: Citigroup Inc expects to increase the number credit card customers it has in India by more than 20 per cent a year over the next two to three years as it looks to boost its unsecured business portfolio in the country, a senior Citi executive said. The bank, which is building up its retail business in India, also expects to increase its personal loan portfolio by 30 per cent...
02:16 AM, Mar 06, 2012
The Reserve Bank of India (RBI) is likely to introduce two years timeline for restructured assets to be classified as standard assets, sources told CNBC TV18. This means, restructured assets can be treated as standard assets after two years. However, if the loan account slips even after the upgradation, it would be treated as restructured account again. Earlier, the RBI had revised its provisioning norms in May, 2011. Accordingly, the...
06:14 PM, Mar 02, 2012
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Disclaimer: TV18 Broadcast Limited is proposing, subject to market conditions and other considerations, an offer of its equity shares on rights basis and has filed a Draft Letter of Offer with the Securities and Exchange Board of India. The Draft Letter of Offer is available on the website of SEBI at www.sebi.gov.in and the websites of the Lead Managers at www.icicisecurities.com and www.rbs.in Investors should note that investment in equity shares involves a high degree of risk and are requested to refer to "Risk Factors" in the Draft Letter of Offer. The Equity Shares have not been and will not be registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or any state securities laws in the United States and may not be offered or sold in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the US Securities Act) except in a transaction exempt from the registration requirements of the US Securities Act and in accordance with any applicable U.S. state securities laws.
