1. HDFC has come out with an innovative housing loan scheme for which the finance company will visit the customer at home for three days. Titled `Doorstep Assistance' in 30 minutes, the scheme will be available for customers across the State and also for people in Thirunelveli, Kanyakumari and Tuticorin districts of Tamil Nadu. The interest rate on the loan will be at 9% (floating) compared to the company's usual interest rate of 9.5%. The company has a network of 11 offices in the State and the doorstep assistance will help reach out to customers in about 250 locations in Kerala and the neighbouring districts of Tamil Nadu.
2. PNB, Kerala Zone’s , disbursement under the Special Agricultural Credit Plan for the half-year ended September has risen by 85% over last year. The loans disbursed amounted to Rs 30.73 crs, which is 63% of the annual budget. PNB has seven rural branches in the State. Outstanding retail credit grew by 67% to Rs 565.11 crs from Rs 337.85 crs earlier. Under the bank's Kisan Card Scheme, 3,347 cards have been issued to farmers.
3. Till now banks have not had many options to raise capital. It is here that the recent RBI guidelines, which allow banks to raise capital by issue of Innovative Perpetual Debt Instruments (IPDIs) and debt capital, open the doors for looking at "innovative instruments" to raise further capital.
4. Innovative Perpetual Debt Instruments are eligible to be issued as Tier I capital. It can be issued in rupees or with prior approval in foreign currency. Maximum amount that can be raised is 15 % of Tier 1 capital reduced by intangible assets. As the name suggests, the maturity period is perpetual. The instruments can be issued at fixed or floating rate referenced to a market-determined rupee interest benchmark rate.
5. Debt capital instruments are eligible to be issued as Upper Tier II capital. Maximum amount that can be raised should not exceed Tier 1 capital reduced by intangible assets. The maturity period is minimum of 15 years. The instruments can be issued at fixed or floating rate referenced to a market-determined rupee interest benchmark rate.
6. Dena Bank has signed an agreement with Wipro Infotech for implementing core banking solutions (CBS) and total outsourcing contract worth Rs 304.4 crs. Under this contract, Wipro will implement the centralised and integrated CBS in 850 of Dena Bank's branches over a period of four years. This will cover 92 % of the bank's business.
7. The Indian Railway Finance Corporation plans to raise Rs 500 crs through a bond issue over the next few days. It also plans to raise $200 mn through ECBs in January next year.
8. ICICI Prudential Life Insurance's new business weighted premium has grown 143% in the first half to Rs 1,626 crs (Rs 668 crs). New business weighted premium gives only 10% weightage to single premium.
9. Bankers are trying to moot a gold-based scheme to raise the much-needed long-term deposits. The scheme will be designed to induce people to invest in the yellow metal while simultaneously offering banks a new source of funds.
2. PNB, Kerala Zone’s , disbursement under the Special Agricultural Credit Plan for the half-year ended September has risen by 85% over last year. The loans disbursed amounted to Rs 30.73 crs, which is 63% of the annual budget. PNB has seven rural branches in the State. Outstanding retail credit grew by 67% to Rs 565.11 crs from Rs 337.85 crs earlier. Under the bank's Kisan Card Scheme, 3,347 cards have been issued to farmers.
3. Till now banks have not had many options to raise capital. It is here that the recent RBI guidelines, which allow banks to raise capital by issue of Innovative Perpetual Debt Instruments (IPDIs) and debt capital, open the doors for looking at "innovative instruments" to raise further capital.
4. Innovative Perpetual Debt Instruments are eligible to be issued as Tier I capital. It can be issued in rupees or with prior approval in foreign currency. Maximum amount that can be raised is 15 % of Tier 1 capital reduced by intangible assets. As the name suggests, the maturity period is perpetual. The instruments can be issued at fixed or floating rate referenced to a market-determined rupee interest benchmark rate.
5. Debt capital instruments are eligible to be issued as Upper Tier II capital. Maximum amount that can be raised should not exceed Tier 1 capital reduced by intangible assets. The maturity period is minimum of 15 years. The instruments can be issued at fixed or floating rate referenced to a market-determined rupee interest benchmark rate.
6. Dena Bank has signed an agreement with Wipro Infotech for implementing core banking solutions (CBS) and total outsourcing contract worth Rs 304.4 crs. Under this contract, Wipro will implement the centralised and integrated CBS in 850 of Dena Bank's branches over a period of four years. This will cover 92 % of the bank's business.
7. The Indian Railway Finance Corporation plans to raise Rs 500 crs through a bond issue over the next few days. It also plans to raise $200 mn through ECBs in January next year.
8. ICICI Prudential Life Insurance's new business weighted premium has grown 143% in the first half to Rs 1,626 crs (Rs 668 crs). New business weighted premium gives only 10% weightage to single premium.
9. Bankers are trying to moot a gold-based scheme to raise the much-needed long-term deposits. The scheme will be designed to induce people to invest in the yellow metal while simultaneously offering banks a new source of funds.
