The country's largest lender, State Bank of India (SBI) has decided to extend the period of its concessional financing to the farmers against warehouse receipts by five months to September 30, 2009.
It should be noted that the state-run lender in February this year had started offering loans at a concessional rate of 8% to farmers against cold storage and warehouse receipts, in a bid to save them from falling prey to distress sale of their farm produce.
Earlier this week, the lender has extended its special home and car loans scheme last week at 8 per cent and 10 per cent respectively, for the first one year, till September
ICICI Prudential AMC, a joint venture between ICICI Bank - one of India's foremost financial services companies, and UK-based Prudential plc - a leading international financial services group, has announced the launch of an open ended equity diversified fund, called the 'ICICI Prudential Target Returns Fund' in the Indian market.
Public sector United Bank of India (UBI) is witnessing February 2010 deadline for its proposed maiden public offer, after receiving cabinet nod for the long-awaited capital restructuring.
According to anticipations of the investment banking firm Barclays Capital, it is likely that the impending annual credit policy of the Reserve Bank of India (RBI) may result in the slashing of the key rates by up to 50 basis points. An almost similar opinion has been expressed by the HDFC Bank, which, however, said that it projects a 25-basis-points cut in RBI's policy rates.
In line with the stipulations of the credit flow-regulating Credit Information Companies Act (CICA), 2005, the Credit Information Bureau India Ltd - CIBIL - has been granted 'in-principle approval' for Certificate of Registration by the Reserve Bank of India. 
