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Top Stories- October 2004
Click Here To Return To Daily News
Click Here For News Archive
SEBI has specified that not less than 50 per cent of the board of directors should consist of non-executive directors.... Read more
Regional Rural Banks can now undertake insurance business as corporate agent without risk participation.... Read detailed guidelines
Government plans to open up the banking sector further to foreign banks and encourage consolidation in the sector.... Read more
Standard & Poor's has affirmed its ratings of the State Bank
of India, ICICI Bank and Bank of Baroda.... Read more
Indian Banks Association has set up a local chapter in New York.... Read more
Business Process Outsourcing (BPO) and IT services, will contribute seven per cent to India's gross domestic product (GDP) by 2008.... Read more
Reserve Bank of India has decided to disclose the penalties imposed by it on banks.... Read more
The second asset reconstruction company (ARC), to be operational soon.... Read more
Serious challenge to the sustenance of Indian BPO leadership in the coming years .... Read more
Banks also to distribute the taxable bonds, under Senior Citizens’ Savings Scheme .... Read more
Zero defaults combined with the improving credit ratio signal a continuing uptrend in the Indian corporate sector, says Crisil.... Read more
Banks not to pay service tax on the income earned from the discounting of bills or cheques.
Interest on overdraft facility or cash credit facility also would not be subjected to service tax. .... Read more
RBI has fined Citibank Rs 5 lakh, for flouting the `Know Your Customer' (KYC) norms.... Read more
Better risk management essential for banks' success.... Read more
US Banks are strong, says US Federal Chief.... Read more
Mid-term Review of Annual Policy 2004-05 announced by Reserve Bank, on 26th October 2004, has kept Bank Rate unchanged.Repo rate hike of 0.25 per cent is basically to reduce excess liquidity and help in controlling inflation.
Bank Rate kept unchanged at 6.0 per cent.
Repo Rate increased by 25 basis points to 4.75 per cent.
Ceiling on Interest Rates on NRE Deposits raised by 50 basis points.
Minimum tenor of retail domestic term deposits reduced to 7 days.
.... Visit Special on Credit Policy
For more Stories from the Archives... Click here
For Latest Stories... Click here
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