APN News

  • Tuesday, April, 2024| Today's Market | Current Time: 04:20:47
  • World Bank approves USD 220 million for Kosi flood rebuilding

    The World Bank has approved a USD 220 million credit to support rebuilding efforts in areas affected by the devastating Kosi floods in Bihar. The Bihar Kosi Flood Recovery Project will finance flood recovery efforts through the reconstruction of about 100,000 houses, 90 bridges and 290 kilometres of rural roads, the World Bank said in […]

    RBI asks banks to help debt-ridden aviation sector

    The Reserve Bank has asked lenders to work out a special concessional package for the crisis-ridden aviation sector, reeling under financial debt burden of staggering 60,000 crore. In response, banks said they would look into the problems of airlines on case-by-case basis. The Indian airline industry is facing mounting debts due to the economic downturn […]

    RBI to look into deregulation of interest rate on savings

    The Reserve Bank said on Wednesday that it will soon set up a working group to examine the possibility of deregulation of interest rates on savings account. “Deregulation of interest rate is on our radar. A working group will soon be set up to examine the possibility of deregulating of interest rates,” RBI Deputy Governor […]

    HDFC Ltd Launches Dual Rate Product – 4

    Mumbai, Maharashtra, India: Highlights: • 8.50% p.a. Fixed Rate up to 31st March, 2011, 9.50% p.a. for period between 1st April, 2011 and 31st March, 2012 and Floating Rate for the Balance term. • Same Interest Rates irrespective of the Loan amount. HDFC Ltd has introduced Dual Rate Home Loan – 4 (DRHL- 4). This […]

    Strike call to hit banking operations on Tuesday

    Banking operations are expected to be hit on 7th September, with the All-India Bank Employees Association joining the nationwide strike called by several unions to protest against the price rise, unemployment, grant of licences to private banks and other issues. Nearly 10 lakh employees from 27 public sector banks, 18 foreign banks, 26 private banks, […]

    SBI mulling merger of associate banks

    State Bank of India (SBI) is considering the merger of all five of its remaining associate banks with itself, having amalgamated with two of them in the last two years. “It (merger of other associate banks) is in my mind, but we have to see,” SBI Chairman O P Bhatt said. “We have to check […]

    World Bank to provide USD 1 billion to Pakistan

    The World Bank will increase its flood-related support to Pakistan to USD 1 billion from the previously announced USD 900 million. World Bank Group President Robert B Zoellick informed Pakistan’s Finance Minister Hafeez Shaikh about his decision and emphasised the Bank Group’s commitment to help Pakistan recover from the worst floods in its history “As […]

    HDFC raises lending rate by 50 basis points on home loans

    Leading housing finance firm HDFC on Tuesday raised its benchmark lending rate by 50 basis points to 14.25 per cent, a move that will make home loans costlier. The revised Retail Prime Lending Rate (RPLR) would be effective from 1st September, 2010 and home loans up to Rs 30 lakh would increase to 9.25 per […]

    Swiss DTAA to allow India access to banking info: Pranab

    The Double Taxation Avoidance Agreement signed with Switzerland will allow India access to banking details of its citizens in that country including for enforcement purposes, but it will be operational with prospective effect, Govt told the Lok Sabha. “This (DTAA) will provide us an opportunity to have the relevant bank information for taxation purposes,” Finance […]

    State bank of Indore to officially merge in SBI today

    State bank of Indore will officially merge in State bank of India today. State bank of Indore have about 470 branches across the country. Now they will be part of SBI and customers of State bank of Indore could avail all the facilities available to SBI customers. The account numbers of customers of State bank […]