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
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
New Delhi: State Bank of India (SBI), the country's top lender, is not worried about loans to telecom companies, whose licences have been cancelled, going bad as they may bid again, its deputy managing director Santosh Nair said. Shares of SBI fell as much as 4 per cent after Supreme Court revoked all 122 telecos licences issued under a scandal-tainted 2008 sale. The National Stock Exchange's banking index reversed losses...
01:06 PM, Feb 02, 2012
Jammu: Jammu and Kashmir Chief Minister Omar Abdullah on Tuesday gave his approval for 'Youth Start-Uo Loan Scheme" (YSLS) under the state's Sher-i-Kashmir Employment and welfare programme for Youth (SKEWPY) to increase employment opportunities for youth to set up business ventures. A government spokesman said, in a release, that the approval was given in the fifth review meeting of SKEWPY in Jammu. "The YSLS initiative under SKEWPY on the pattern...
02:12 AM, Feb 01, 2012
New Delhi: Seeking to find faults in a government scheme meant to provide self-employment, senior BJP leader Sushma Swaraj on Sunday alleged that the poor who sought micro-finance loans under it were left "insane" after being made to run from pillar to post. The Leader of Opposition in Lok Sabha, referring to Swarnjayanti Gram Swarozgar Yojana (SGSY) scheme, alleged that the government was least concerned in the welfare of poor...
06:49 PM, Jan 29, 2012
Mumbai: Banks may have to downgrade their loans to loss-making state-run Air India after they deferred a long-pending debt restructuring proposal, seeking a revision and making it tougher for the carrier to raise funds, three sources said. Banks are now expecting the Government to bail out the carrier, which has overdues of more than 60 days with some banks, two of the sources said. Banks consider an account as non-performing...
10:35 AM, Jan 12, 2012
CNBC TV18's Banking Editor Latha Venkatesh explains how the decision's taken at the RBI's credit policy meet on Friday will impact consumers. ...
08:10 AM, Dec 16, 2011
New Delhi: Government is mulling setting up a Rs 1,000 crore Credit Risk Guarantee Fund to encourage banks to give loans to the poor, Prime Minister Manmohan Singh said on Tuesday even as he asserted that policies cannot have one-size-fits-all approach towards both big and small cities. "To encourage banks to lend in significant volumes to the economically weaker sections and low income groups, we are considering the establishment of...
12:41 PM, Dec 13, 2011
New Delhi: Country's largest lender State Bank of India (SBI) has decided to abolish pre-payment charges on home loans, giving some succour to borrowers who want to foreclose their accounts. "We have decided to do away with the pre-payment charges on all kinds of housing loans with immediate effect," a senior official of the bank told PTI. The bank has been charging pre-payment penalties only on housing loans with floating...
02:53 AM, Nov 25, 2011
Kiran Bedi's travel agent quits her trust. Loans to get costlier as RBI hikes rates again. ...
11:18 PM, Oct 25, 2011
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