South African President Jacob Zuma thanked Commerce Minister Anand Sharma for India's support in the matter, when the two met here this morning. India had been lobbying for South Africa's inclusion.
Bank to argue with the Reserve Bank that new norms don't apply to floating rate schemes.
Stung by the public criticism of teaser rates, SBI Chairman O P Bhatt told RBI officials in a post-monetary policy meeting on Friday that only eligible persons are given these loans and the norms are not diluted while extending such loans.
Deposit rates have increased over 100 basis points (bps) in the last ten days, as banks are getting aggressive to mobilise resources to fund the growing demand for loans in the busy season. In the last ten days, at least five government banks have increased deposit rates and more are expected to follow suit.
Reserve Bank of India has stepped up checks on the use of funds borrowed from its liquidity window. The Central bank is keen to see that such funds are not diverted for lending purposes. Net borrowing by banks rose to a record Rs 1,48,490 crore (Rs 1484.90 billion) on Tuesday.
The plan of action ranges from drawdown of loans to seeking additional guarantees, to even recalling some of the loans, if the situation so warrants.
Banks are starting to fall in line with the Reserve Bank of India's position on so-called teaser home loans. Even as the country's largest lender State Bank of India stood its ground, several other banks have said they could go slow on teaser loans -- home loans bearing an introductory lower interest rate for a stipulated period of time.
Stung by the controversy over the sudden sacking of the Managing Director at India's largest microfinance institution, SKS Microfinance, lenders have decided to raise corporate governance issues at board meetings of other MFIs.
Mapping of spreads means effective rates in the base rate system are lower.
In an effort to grab a share of the hefty Diwali bonus to employees in government and corporate sector, country's largest lender State Bank of India may raise the interest rate on term deposit rates in next few days.
In many cases, of course, financial institutions like Life Insurance Corporation or government-controlled banks have come to the rescue of Indian companies facing takeover threats.
Customers can meet in the Sapphire conference room, put away their valuables in the Topaz locker room and freshen up in the Opal dressing room.
Succession planning is the new mantra by which traditional groups are warding off territorial disputes.
After many attempts, Bajaj finally has a bike to counter Hero Honda in the 100cc segment.
A senior bank official said the preliminary report would come in three months.
The firm is looking to raise as much as Rs 1,000 crore through short-term commercial paper.
India story, pressure to invest are driving spurt in PE activity.
The scaling down of the branch expansion plan is part of SBI's overall game plan to check costs.
Court interventions turn the tables on forex derivative losses, as banks push for out-of-court settlements.
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