Banking Sector

SBI extends its ‘Home-cum-Auto loan Offer’ till September 2009

SBI extends its ‘Home-cum-Auto loan Offer’ till September 2009In a latest development, State Bank of India, the country’s largest lender, has decided to extend the special offer for auto and home loans by five months till September, this year.

According to banking officials, the move was taken to benefit those peoples, who felt the April deadline was insufficient for availing of the scheme.

Goldman Sachs to sell 5 billion dollars in new shares

Goldman Sachs to sell 5 billion dollars in new sharesNew York - US investment bank Goldman Sachs said Tuesday it would raise 5 billion dollars in new capital through the offering of 40.6 million new shares of stock. The funds would be used to repay part of the 10 billion dollars in government loans the firm received in October.

Goldman Sachs surprised analysts with quarterly profits announced late Monday that rose 13 per cent to 1.7 billion dollars in the first quarter despite the global financial crisis. Other major banks and investment firms are to report quarterly earnings in the coming days.

Bank of Rajasthan signs ‘Partnership Deal’ with DBS Cholamandalam

Bank of Rajasthan signs ‘Partnership Deal’ with DBS CholamandalamBank of Rajasthan, one of the oldest, fastest growing, technology driven and customer friendly private sector bank, has informed that it has tied up an alliance with DBS Cholamandalam Asset Management Ltd, to qualitatively enhance its reach in the category of mutual fund investors across the country.

According to a senior official, the tie-up is intended to fulfill the investment needs of Bank of Rajasthan customers, by helping them to reach their financial goals.

PNB ties knot with brokerage firms to provide best ‘Online Trading Service’

PNB ties knot with brokerage firms to provide best ‘Online Trading Service’Punjab National Bank (PNB), India’s second largest public sector bank, has entered into an alliance with four brokerage firms, including Networth Stock Broking and SMC Global Securities, to strengthen its online securities trading services.  
 
Currently, PNB in association with IDBI Capital Market Services, offers online securities trading services to its clients through 139 branches spread across 60 centres all over the country.  
 

ICICI Home Finance begins sale of subordinated bonds to raise Rs 100 crore

ICICI Home Finance begins sale of subordinated bonds to raise Rs 100 croreICICI Home Finance, the housing finance arm of the largest private sector bank in the country, on Thursday began selling subordinated bonds to raise Rs 100 crore.

The latest move was taken by the company to meet its fund requirements.

According to company official, the amount is being raised as subordinated debt and carries a coupon rate of 9.75 per cent, payable annually. The issue will close on April 20.

ICICI Securities Primary Dealership, ICICI Bank and IDFC-SSKI are reported as arrangers to the deal.

SBI, IDBI Bank cut deposit rates by 25-50 basis points across various maturities

SBI, IDBI Bank cut deposit rates by 25-50 basis points across various maturitiesThat there is an apparent slide in deposit rates has become all the more obvious with two of India’s leading public sector banks – State Bank of India (SBI) and IDBI Bank – slashing their deposit rates, with the revised rates taking effect from April 13. The state-owned IDBI Bank also intends cutting its yardstick prime lending rate (BPLR) from April 15 onwards.

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