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Top Stories |
Gold loan NBFCs will feel regulatory heat: ICRA
The growth and profitability of non-banking finance companies specialising in gold loans are expected to take a hit due to regulatory pressure.
The new regulations, in the form of loan-to-value (LTV) cap and funding constraints, will significantly restrict expansion capabilities of these NBFCs, said ICRA Management Consultancy Services (IMaCS).
ECB: Govt hints at further easing of norms
The government on Tuesday, 11th September 2012, said it will look at the possibility of further liberalisation of external commercial borrowing (ECB) norms to boost inflows from overseas.
“We will continue to look at various spaces of which ECB is one...not only to increase the foreign flow in the country, but also to improve business climate,” said Arvind Mayaram, Department of Economic Affairs Secretary.
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Indian Financial Institutions |
Want to grow at a measured pace, says SCUF Chief
Shriram City Union Finance (SCUF) does not see the current economic slowdown impacting its financial performance this fiscal, 2012-13, its Chairman Arun Duggal has said.
This deposit-accepting NBFC (non-banking finance company) expects a “steady growth” in bottomline even in this weak economic conditions.
United Bank cuts rates on select loans by up to 275 bps
United Bank of India has slashed interest rates on medium- and small-term loans above Rs 1 crore by 75-275 basis points.
The revised rates are effective from September 10, 2012, said a press statement issued by the bank.
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Products & Alliances |
Corporation Bank inks pact with Piaggio
Corporation Bank has signed a memorandum of understanding (MoU) with Piaggio Vehicles Pvt Ltd for financing commercial vehicles of Piaggio.
A bank release said here, in Mangalore, that the tie-up would provide the bank as the preferred financier for Piaggio commercial vehicles.
Ravimohan appointed RBI nominee Director of BOI
Government has nominated the Regional Director, Reserve Bank of India of Bhopal, P R Ravimohan as the RBI nominee director of Bank of India (BOI) with immediate effect.
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Bharat does not quite beckon young bank staff
While bank managements proudly announce the opening of branches in rural areas, the staff moved to such locations often consider it a ‘punishment’ posting.
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12.9.2012
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| Currency |
Rate (Rs.) |
Change |
| USD |
55.26 |
0.26 |
| Euro |
71.13 |
-0.28 |
| GBP |
88.85 |
-0.01 |
| Yen (100) |
70.93 |
0.06 |
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12.9.2012 16.00
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Index |
Change |
| NIFTY |
5431.00 |
41.00 |
| SENSEX |
18000.03 |
147.08 |
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Market Updates |
Sensex ends 147 points up at 18,000 on positive global cues
After a positive start thanks to a positive lead from Asian peers, the Indian stock market retreated a bit and gave up some gains following the release of a somewhat weak July industrial production report, but rebounded sharply towards the end of the session after a German court ratified a 700 billion euro European Stability Mechanism bailout fund.
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