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PNB signals rise in lending rates In an indication that lending rates are set to go up, Punjab National Bank (PNB) today increased its benchmark prime lending rate (BPLR) by 75 basis points to 11.75 per cent. The bank, however, did not change its base rate. |
Jean Pisani-Ferry: Making Europe work It is an old debate, but tensions within the euro area have revived it: can a monetary union survive without some form of fiscal federalism? This issue is of persistent concern for investors worldwide. Holders of European government bonds believed that they knew what they had bought. Sure, there was no such thing as a eurozone sovereign security. But German, French, Spanish, and even Greek bonds all carried roughly the same interest rate, so they were deemed equivalent. |
Federal Bank Q1 net profit slips Federal Bank has earned a net profit of Rs 131.86 crore in the first quarter of the current financial year as against Rs 136.38 crore in the same quarter of 2009-10, down by 3.31 per cent. The operating profit of the bank has increased to Rs 335.34 crore, against Rs 278.28, registering a growth of 20.51 per cent. |
ICICI Bank, StanChart penalised for violation of banking norms The Reserve Bank of India (RBI) on Friday imposed a penalty of Rs 5 lakh each on ICICI Bank and Standard Chartered Bank for violating banking regulations. |
RBI discontinues second LAF Signaling easing of pressure on resources, the Reserve Bank of India (RBI) today said it would discontinue the second liquidity adjustment facility (LAF) being conducted daily since May 28. It will, however, continue to conduct the second LAF session on every reporting Friday. |
RBI takes banks to task on MF income The Reserve Bank of India (RBI) has come down heavily on banks for treating returns from liquid mutual fund (MF) investments as interest income and not as trading income. |
Vaidyanathan quits ICICI Pru to join Future Capital V Vaidyanathan, managing director and chief executive officer of ICICI Prudential Life Insurance, has resigned and will move to a new role in Future Capital, the financial services arm of the Kishore Biyani-led Future Group. |
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