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Top Stories |
Rs 6,000-cr capital boost for 10 banks
To maintain the pace of economic growth through easy availability of credit, the Government on December 01, 2010, approved capital infusion of Rs 6,000 crore into 10 public sector banks (PSBs).
This is over and above the Rs 15,000 crore already provided to the banks in the 2010-11 Budget.
Easing branch licensing policy ineffective to rural banks
The relaxation in branch licensing policy as announced by the Reserve Bank of India recently would be virtually ineffective for a majority of the regional rural banks (RRBs) in the country.
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Indian Financial Institutions |
Central Bank of India new branch
Central Bank of India (CBI) announced the opening of its 78th branch in the Hyderabad Region at Deshmukhi, in the campus of St. Mary's Group of Institutions, near here.
Rev. K.V.K Rao, Secretary and Correspondent, St. Mary's Group of Institutions, Hyderabad, inaugurated the branch, which also happens to be the 148th branch in Andhra Pradesh for the CBI.
Corporation Bank to grow current & savings account deposits
Though its CASA (current account savings account) levels are still a concern, Corporation Bank hopes to grow its CASA to 28-30 per cent by March 2011. “Our savings bank account is growing very fast, but the current account is an issue. It is not growing as expected,
Union Bank hikes deposit interest rates
Union Bank of India announced on December 01, 2010, that it will offer domestic term deposit rates at 8.10 per cent per annum for the next 500 days. The new rate will be applicable from December 1, 2010.
Ashwani Kumar is new ED of Corpn Bank
Mr Ashwani Kumar, General Manager of Allahabad Bank, has been appointed as the Executive Director of Corporation Bank, for a period of five years, by the Government of India.
V. Kannan joins Oriental Bank as ED
The Oriental Bank of Commerce (OBC) said on December 01, 2010, that Mr V. Kannan has joined the bank as Executive Director, effective December 1, 2010.
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Products & Alliances |
ICICI Bank, HDFC scrap teaser home loans
Housing finance company HDFC and private sector ICICI Bank have decided to discontinue teaser home loan schemes under which loans are given at lower rates for the first few years.
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2.12.2010
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| Currency |
Rate (Rs.) |
Change |
| USD |
45.37 |
0.33 |
| Euro |
59.52 |
0.01 |
| GBP |
70.88 |
0.31 |
| Yen (100) |
53.94 |
0.81 |
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2.12.2010 16.00
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Index |
Change |
| NIFTY |
6011.70 |
50.80 |
| SENSEX |
19992.70 |
142.70 |
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Market Updates |
Sensex extends gains, ends 143 points up
The market extended its gains to a fourth successive session as strong global cues and recent impressive economic data prompted the bulls to stay active almost right through the session today.
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