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Loans to be cheaper as HDFC Bank, Canara cut lending rate Loans to be cheaper as HDFC Bank, Canara cut lending rate Starting a fresh round of rate cuts after repeated calls from RBI, private lender HDFC Bank and state-run Canara Bank Monday lowered their lending rates by up to 0.35 percent, a move that will make home and other loans cheaper for consumers.
SBI says bankruptcy code can't solve all problems for banks SBI says bankruptcy code can't solve all problems for banks State Bank of India (SBI) Monday raised questions over the bankruptcy code being readied by the government, citing past experiences, while stressing on the need for a change in the overall 'ecosystem' to tide over the problem of bad loans.
Ratan Watal new Finance Secy, new team takes charge Ratan Watal new Finance Secy, new team takes charge Ahead of beginning of work on the Budget for 2016-17, government Monday designated Ratan P Watal as new Finance Secretary even as a new team of officials took charge at the finance ministry.
Rupee drops 34 paise to 66.48 against US Dollar Rupee drops 34 paise to 66.48 against US Dollar The rupee declined by 34 paise to close at one-week low of 66.48 against the US dollar on persistent month-end demand for the American currency from importers despite a lower greenback in the overseas market.
Govt bonds over-subscribed; FIIs put in bids worth Rs 987-crore Govt bonds over-subscribed; FIIs put in bids worth Rs 987-crore Government bonds Monday attracted bids of Rs 987 crore from foreign investors against Rs 561 crore worth of securities put on offer.
RBI says SBI, ICICI Bank systemically important banks RBI says SBI, ICICI Bank systemically important banks RBI Monday identified state-owned SBI and private sector ICICI Bank as systemically important banks and subjected them to higher levels of supervision to prevent disruption to financial services in event of any failure.
Axis Bank cuts deposit rates by 0.50% Axis Bank cuts deposit rates by 0.50% Axis Bank, country's third largest private sector lender, Monday cut its deposit rates, generally considered a precursor for a lending rate cut, by up to 0.50 percent across maturities.
Matrix Cellular gets SEBI's go-ahead to launch IPO Matrix Cellular gets SEBI's go-ahead to launch IPO International SIM card provider Matrix Cellular has received capital markets regulator SEBI's approval to float an initial public offer (IPO).
April-July fiscal deficit at 69.3% of Budget estimates April-July fiscal deficit at 69.3% of Budget estimates The fiscal deficit in the first four months of current financial year stood at Rs 3.85 lakh crore, or 69.3 of Budget estimates for 2015-16, as government stepped up its plan expenditure.
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