Top Stories- August 2007

Fitch Ratings has affirmed State Bank of India's (SBI) ratings, following its announcement to merge the State Bank of Saurashtra...Read more

RBI has asked agency banks to provide free remittance facility to Government Departments...Read more

Reserve Bank of India to consider requests from Urban Co-operative Banks to shift their branches to other cities within the same State...Read more

Reserve Bank of India has sanctioned the Scheme of Amalgamation of Lord Krishna Bank with Centurion Bank of Punjab...Read more

SBI Board has given approval to merge State Bank of Saurashtra with State Bank of India...Read more

Standard Chartered Bank is acquiring 49 per cent stake of STCI in the UTI Securities for Rs 147 crore...Read more

SEBI has introduced Fast Track Issuance of Securities (FTIs) to provide a faster method of raising capital by listed companies...Read more

Fitch Ratings has found that the direct exposures of most of Asia-Pacific banks to US subprime-backed structured securities is low...Read more

RBI has asked all banks and Primary Dealers to report their IRS/FRA trades on the CCIL reporting platform by Sept 15, 2007...Read more

RBI has asked all banks to invariably furnish a copy of the loan agreement along with all enclosures to the borrowers...Read more

IDC predicts rapid growth for Business Process Management Software market, reaching US$5.5 Billion by 2011...Read BPO related stories

IRDA Guidelines for closure of Liaison Office established in India by Insurance Companies registered outside India ...Read insurance related stories

BCG study identifies several trends that will continue to drive mergers and acquisitions, despite current volatility in the global financial markets...Read more

Strong domestic franchise and reach of the larger Indian banks have helped them exploit the growth opportunities ,says Fitch Ratings...Read more

Moody's does not foresee widespread ratings downgrades for the world's banks as a result of the current market tensions...Read more

The Planning Commission has set up a High Level 12-Member Committee on Financial Sector Reforms, chaired by Shri R. G. Rajan...Read more

Moody's has downgraded 691 securities backed by 2006 second-lien mortgage loans; 14 securities placed on review for possible downgrade...Read more

The Federal Reserve, US has cut its discount rate half a percentage point to 5.75 percent, but did not change its federal funds rate...Read more

North America and Asia are the favorite hunting grounds of India Inc on global acquisition chase...Read more

Indian mutual fund assets under management (AUM) grew by Rs.860 billion in the month of July, to a corpus of Rs.4.89 trillion...Read more

Safeguarding personal information calls for a more comprehensive approach by financial services institutions, says TowerGroup...Read more

Standard and Poor's report discusses how the global markets are now less vulnerable to general liquidity scares...Read more

SBI Mutual Fund leads Nielsen's Brand Equity Index in the 2007 Winning Brands Mutual Fund study...Read more

The Committee on Financial Sector Assessment (CFSA) has constituted four advisory panels...Read more

UTI and Shinsei Bank have signed a joint venture agreement to set up UTI International (Singapore) Pte Limited...Read more

Reserve Bank has constituted a working group to analyse the experience with interest rate futures so far and focus on product design issues...Read more

Fitch Ratings has released its annual India National Ratings Transition and Default Study (1998- 2006)...Read more

The sub prime exposures of the major US banks do not have negative rating implications at this time, says Moody's...Read more

Delhi becomes 11th state to sign MOU with RBI with regard to Urban Co-operative Banks (UCBs) in the State of Delhi...Read more

Business continuity touches every part of the organization and there is great need for professionals to be aware of developments...Read more

India Inc Mergers and Acquistions abroad were valued at $11.37 billion in the first quarter of fiscal 07-08...Read more

RBI has liberalised guidelines on discounting/rediscounting of bills by banks...Read more

FIMMDA reporting platform for corporate bond transactions will be live from September 1, 2007...Read more

Managing IT spending is top priority for CIOs and IT managers in Asia/Pacific including Japan, according to IDC...Read more

International Finance Corporation (IFC) focuses on infrastructure and midsize companies to strengthen competitiveness and sustainability in India...Read more

Indian govt limits External commercial borrowings (ECBs) inflows to $20mn. ECBs above USD 20 million to be parked overseas for use as foreign currency expenditure
.... Full text of the policy change
.... Special section on ECBs

RBI's "First Quarter Review of its Annual Policy Statement for 2007-08" on July 31, 2007 has kept Bank Rate, Reverse Repo Rate and Repo Rate unchanged but the cash reserve ratio (CRR) of scheduled banks is increased by 50 basis points to 7.0 percent
.... Full Text of review of Credit Policy
.... Highlights of review of Credit Policy

Macroeconomic and Monetary Developments - First Quarter 2007-08 .... Click Here


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