In its Budget wish-list, the Agriculture Ministry has demanded lowering of interest rate on crop loans to 3% for those farmers who pay in time, from the existing 4%. According to sources, the ministry has suggested an additional one per cent interest subvention (subsidy) on short-term crop loans of up to Rs 3 lakh to farmers who pay their dues on time. Other farmers get crop loans at seven per...
04:12 PM, Feb 13, 2012
Mumbai: The Reserve Bank of India (RBI) is likely to step in and keep a check on gold loans disbursed by the banks. Sources say the RBI is planning to regulate interest rates on gold loans, penalties and may impose higher margins on loan to value. Worried about scorching pace of growth of gold loans, the RBI is likely to introduce quality checks when gold is returned to the customer...
11:23 AM, Feb 09, 2012
London: Arsenal manager Arsene Wenger may try to extend Thierry Henry's loan from the New York Red Bulls. Henry's loan deal stipulates that he has only next weekend's Premier League game at Sunderland and a February 15 Champions League match at AC Milan left before returning to Major League Soccer. Wenger said the Gunners had not discussed any extension with the Red Bulls but acknowledged it was possible. "I haven't...
06:38 PM, Feb 06, 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
London: European football's January transfer window closed on Tuesday with clubs reining in the lavish spending of recent years in an apparent response to UEFA's strict new financial controls. While 225 million Pounds were spent last January by English clubs alone, barely 50 million Pounds was outlayed by them this month. "It looks like economically the whole of Europe is becoming a bit more cautious," Arsenal manager Arsene Wenger said....
11:59 AM, Feb 01, 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
New Delhi: Chinese state banks have agreed to lend $1.18 billion to Indian billionaire Anil Ambani's debt-laden mobile carrier Reliance Communications to repay overseas convertible bonds due for redemption on March 1. India's No 2 mobile operator by subscribers had $6.5 billion in debt as of end-September and ferocious competition has seen it post nine straight quarters of declining profits. It has struggled to unload its telecoms tower business, which...
12:30 AM, Jan 18, 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
New Delhi: A proposal to issue preferential shares worth Rs 7,500 crore to Air India's lenders was approved by its Board on Thursday, as the national carrier saw significant rise in its yields and passenger revenue. The Board, at its meeting, "approved the rearrangement of authorized share capital by issue of preference shares worth Rs 7,500 crore, which are proposed to be allotted to the lenders of the working capital...
04:32 AM, Dec 30, 2011
Mumbai: Cash-strapped carrier Kingfisher Airlines has not deposited with the government most of the income tax it deducted from its employees' salaries for the last two fiscal years, Minister of State for Finance told lawmakers on Tuesday. Kingfisher has about 1.3 billion rupees of tax deducted at source to be deposited with the government and has committed to pay it by the end of the current financial year to March...
05:22 AM, Dec 21, 2011
Mumbai: Lenders to cash-strapped Kingfisher Airlines, which has been grounding planes and cutting routes to stay aloft, are awaiting a report on the airline's viability before they approve a $133 million loan, banking sources said on Monday. SBI Capital Markets Ltd, a unit of State Bank of India, has been hired by the banking consortium to draft a report on the carrier's financial outlook. That report has yet to be...
01:12 AM, Dec 20, 2011
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
Kolkata: West Bengal Chief Minister Mamata Banerjee on Saturday urged public sector banks to increase the flow of credit to agriculture and micro and small enterprises sectors in the state. "I would request the banks to look into the following issues. There is low credit for agriculture. Forty percent of the demand is achieved. This needs to be raised significantly," Banerjee said in a meeting with Union Finance Minister Pranab...
02:53 AM, Dec 11, 2011
displayed with permission. Use of the CNN name and/or logo on or as part of CNN-IBN does not derogate from the intellectual property rights of Cable News Network in respect of them.
