Focus to be on unbanked areas; initial capital is set at Rs 100 crore; India Post can apply.
Public banks refrained from buying CDs of private banks, CPs of companies. The Reserve Bank of India had opened a 14-day repo window of Rs 20,000 crore (Rs 200 billion) for banks at 11 per cent to lend to the mutual fund industry on October 15.
The venue for Saturday's meeting was shifted at the last minute from the headquarters of the India Banks' Association in Cuffe Parade to avoid media glare.
'The theme of death seems to be a theme about which many of us, raised in Western societies, have almost completely removed from consciousness; it represents a theme that is suddenly and forcefully resurging now.' 'And for some, this is scary and destabilising.'
RBI on Monday conducted an unprecedented level of liquidity infusion to the tune of Rs 3.3 lakh crore, in which banks bid for as much as Rs 4.5 lakh crore. The central bank said it would conduct a liquidity infusion auction of Rs 1 lakh crore on Tuesday as well, to help banks tide over the liquidity crisis.
The repo rate, at which RBI lends to the banking system, will be at 7.5%
Urban housing mortgage major HDFC announced that it will cut its lending rates by the end of the week.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
Investors in LIC's insurance and other schemes are receiving a lower rate of return because LIC is subsidising incompetence at best and malfeasance at worst in institutions such as IDBI Bank and IL&FS, says Jaimini Bhagwati.
Cyprus and India also finalised an agreement on combating terrorism, illicit drug trafficking and organised crimes.
The awarding of in-principle licences for 10 small finance banks is likely to be a game changer in a way which may not be adequately realised right now.
Yara Shalaby set up the Middle East's first women's rally team, the Gazelle Rally which has seven drivers and has secured sponsorship for 2016.
Historically, overall credit has grown at 1.6 times GDP growth
Follow these tips to get ready to celebrate with sweets and kites with your friends and family in your new house next Pongal.
Rajan drew attention towards the Nachiket Mor committee on PSL and said that the RBI is trying to make the entire process more effective.
'Gwadar has the potential to facilitate PLAN's operations in the Arabian Sea and Indian Ocean.' 'Reports of China setting up electronic eavesdropping posts at Gwadar to monitor US and Indian naval activity and shipping traffic through the Straits of Hormuz and the Arabian Sea lend credence to this,' says former RA&W officer Jayadeva Ranade.
The scrip was the worst hit among the front-line companies on both the indices during the day.
Musharraf met the US National Security Adviser.
A bad Cibil credit score can limit your borrowing options; however there are few other options which you can explore for credit.
Under Sharma Axis Bank has also taken the lead in focusing on technology, which has now become core to almost every other lender's strategy.
The 34-year-old replaced Iftikhar Ahmed, who managed only 44 runs in four innings in the recent tour of Australia where Pakistan lost both Tests.
People in India are increasingly shying away from taking bank loans on account of economic slowdown and scepticism arising out of job uncertainty.
Power Finance Corporation Ltd filed its revised prospectus on Monday with market regulator Securities and Exchange Board of India to come out with its initial public offering.
The Reserve Bank of India also banned with immediate effect issuance of letters of comfort which, like LoUs, are used by importers to fund their overseas purchases.
Siva Sankar looks at S P Balasubrahmanyam's fantastic repertoire.
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Diplomatic channels activated to keep India eligible for soft loans from World Bank affiliate, though rules show it's probably time we made way for the needier others.
During the day, Union Health Minister Harsh Vardhan held a meeting to review preparedness for COVID-19 management, through video conference with health ministers, chief secretaries of all states and UTs, central ministers and representatives from the related organisations and stressed on the need for keeping testing and quarantine facilities, isolation wards, and labs in active readiness.
'India does not wish to remain silent in improving its strategic space so that its leverage to counter China's expansionist designs is maintained, besides enabling it to play a responsible role from a position of strength for peace and stability in Asia,' points out Dr Rajaram Panda.
Assocham expressed concern over the precarious situation that the manufacturing sector is in, observing that if the trend does not reverse with monetary and fiscal measures it would be difficult for the industry to generate jobs.
Although large companies like Nestle, Dabur or HUL have been impacted by this slowdown in demand, it was the small, local players that have been hit harder.
Banks seems to be upset over RBI's move over rate cut.
The Shanghai Composite Index eased 0.2 percent in subdued trading on Wednesday morning.
Being one of the early commentators to flag economic slowdown and caution investors on corporate earnings, Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction.
'The situation is quite terrifying as you have no job creation and there will be loss of jobs.'
'UBI is a tricky subject.' 'Our worry is the government could get rid of UPA's social welfare schemes targeted at the poor.'
Move to improve transparency but make liquidity more difficult to come by
After exporters, real estate companies are demanding a priority sector tag for loans to the low-cost housing sector.
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