G Padmanabhan, Executive Director of Reserve Bank of India (RBI) remarked that the country is on course to meet its infrastructure investment target of $1 trillion during the ongoing 12th five-year plan (2012-17). Speaking at a conference in London, he said the funding process was working in a seamless manner and thing
Tag: bank
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SBI, HDFC Bank trim lending rates
India's largest public sector lender State Bank of India (SBI) reduced its base rate to 9.70 per cent from 9.75 per cent with effect from February 4. But the bank kept its deposit rates unchanged as it feels
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Infra firms welcome RBI rate cut
Infrastructure developers and development finance companies cheered the Reserve Bank of India's (RBI) move to cut policy repo rate in its third quarter review of monetary policy. Infrastructure developers urged banks to pass on the cut in policy rate to borrowers and thereby reduce the cost of funding
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RBI survey expects 5.5% economic growth in FY13
According to a survey sponsored by the Reserve Bank of India (RBI), the Indian economy may expand at 5.5 per cent in 2012-13, lower than the government's revised annual growth estimate of 5.7 per cent. It may be noted that the RBI had earlier projected a growth rate of 5.8 per cent for 2012-13. The Indian econ
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SKS completes Rs 411 cr worth securitisation deal
So far in 2012-13, SKS Microfinance clinched five securitisation deals aggregating to Rs 411 crore with banks. The fifth one was a Rs 52.62 crore securitization deal that the bank entered into recently with a private sector bank and which is rated A1 {SO). Meanwhile, it may be noted that the company announced a net profit of Rs 1.2 crore during October-December 2012, after suffering losses in seven consecutive qua
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SKS completes Rs 411 cr worth securitisation deal
So far in 2012-13, SKS Microfinance clinched five securitisation deals aggregating to Rs 411 crore with banks. The fifth one was a Rs 52.62 crore securitization deal that the bank entered into recently with a private sector bank and which is rated A1 {SO). Meanwhile, it may be noted that the company announced a net profit of Rs 1.2 crore during October-December 2012, after suffering losses in seven consecutive qua
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FII investment cap in bonds raised
The ceiling on investment by foreign institutional investors (FII) in government bonds and corporate bonds has been raised by $5 billion each. The sub-limit of $10 billion for investment by FIIs in G-secs was enhanced by $5 billion, Reserve Bank of India ( RBI) said. The cap on corporate debt other than in the infra
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RBS in talks with YES Bank to sell retail assets
Royal Bank of Scotland (RBS) is in the early stage of discussion with private sector lender YES Bank to sell its India retail assets. The India retail and commercial operations accounted for less than 0.5 per cent of RBS' non-core asse
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Cabinet clears proposal to inject Rs 125 bn into banks
Union cabinet cleared the proposal to inject Rs 12,517 crore capital into about ten state-run banks during 2012-13. The recapitalisation will help banks maintain their Tier-I capital at a comfortable level, and hence remain compliant with the stricter capital adequacy norms unde
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Rangarajan favours non corporates for bank licenses
Agency reports suggest that C Rangarajan, Chairman of Prime Minister's Economic Advisory Council wants the Reserve Bank of India (RBI) to give first priority to non-corporate applicants for banking licenses. Rangarajan has reportedly said that the central bank must look at various types of financial institutions that