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Interest rate for PPF may not change in July quarter
Edit The Times of India 19 Jun 2016
NEW DELHI ... The finance ministry is expected to notify the rates this week, sources told TOI ... In addition, a key reason for the government to push for a steep rate cut from April was to create space for banks to reduce deposit and lending rates but banks have opted to maintain status quo, hurting the transmission of lower policy rate to borrowers and depositors ... RELATED....
Understanding the so-called 'time bomb' of FCNR-B
Edit Deccan Herald 19 Jun 2016
There has been much focus in recent days on the FCNR-B (Foreign Currency Non Resident-Bank) deposits, the so-called “time bomb”, with concerns about the outflow of $26 billion of NRI deposits maturing from September to December 2016 ... European markets were unsettled ... The NRI depositor was offered well above market rate (400 basis points above the London Interbank Offer Rate, or LIBOR) and carried no currency risk....
IMF Executive Board Completes the Second Review Under the Extended Credit Facility Arrangement for the Kyrgyz Republic and Approves US$13.4 Million Disbursement (IMF - International Monetary Fund)
Edit Public Technologies 18 Jun 2016
(Source. IMF - International Monetary Fund) Press Release No. 16/291. June 17, 2016. IMF Executive Board Completes the Second Review Under the Extended Credit Facility Arrangement for the Kyrgyz Republic and Approves US$13.4 Million Disbursement ... 15/165) ... Once adopted, the Law will strengthen the independence of the central bank, allow better protection of depositors' rights, and introduce a modern bank resolution mechanism ... (noodl....
MPS asset directive
Edit The Telegraph India 17 Jun 2016
Calcutta High Court today directed Sebi to deposit about Rs 2 crore the market watchdog had collected by selling some assets of the MPS group with a committee appointed by the court to identify and refund depositors ... ....
EU fails to set target date for joint insurance of bank deposits
Edit Reuters 17 Jun 2016
LUXEMBOURG, June 17 (Reuters) - European Union finance ministers failed to agree on target dates to make progress on a common insurance for bank depositors, EU officials said on Friday, effectively deferring the completion of their banking union plan. ....
Germany 'sets conditions' for EU banking union
Edit The Times of India 17 Jun 2016
Luxembourg, June 17, 2016 (AFP) -. Germany on Friday set its conditions to deepen banking union in the European Union, demanding that risks be reduced at Europe's banks before deposits could be guaranteed Eu wide ... Saving depositors from potential ruin is the third pillar of banking union that was agreed at the height of the crisis. Once agreed, it would follow tighter supervision of banks and rules on how to handle failed banks ... RELATED....
With loads of gold, Tirupati looks for banks with high rates
Edit The Times of India 17 Jun 2016
CHENNAI. The management of Tirupati Balaji Temple in Andhra Pradesh has said it will look for banks that offer highest interest rates for its gold available for investment ... The TTD has requested the Reserve Bank of India (RBI) and the central government that deposits under medium- and long-term schemes of the Gold Monetisation Scheme should also be redeemable in gold so that depositor-temples get more attractive returns....
NSEL scam: Centre asks Maharashtra to expedite attached assets auction
Edit DNA India 17 Jun 2016
-->. The Maharashtra government has attached assets worth Rs 6,116 crore so far ... NSEL, the commodities exchange owned by Financial Technologies, had in July 2013 abruptly suspended trading in most of its contracts ... Depositors (In Financial Establishments) Act, 1999; and deployment of full time competent authorities for dealing exclusively with NSEL related work," the statement said ... ....
EDITORIAL: Parliamentary blunder
Edit The Himalayan 17 Jun 2016
Parliamentary ethics have it that a lawmaker cannot take part in discussions on any Bill that maybe directly linked with his/her business interest ... This means that a lot of depositors will be in trouble if the BAFI Bill is passed by Parliament as per the amendments by the Finance Committee, which, many believe, came under the influence of those lawmakers who are also chairmen of BAFI ... Be on alert ... The post EDITORIAL ... ....
08.06.16 – Moody’s places DEPFA’s and DEPFA ACS’ Ba1/Not-Prime ratings on review for upgrade (Depfa Bank plc)
Edit Public Technologies 17 Jun 2016
(Source. Depfa Bank plc) 6771a8d0-7a50-4bce-97ff-2e09559b1c3a.pdf. Rating Action. Moody's places DEPFA's and DEPFA ACS' Ba1/Not-Prime ratings on review for upgrade Global Credit Research - 08 Jun 2016 ... RATINGS RATIONALE ... In addition, Moody's said that it sees potential for higher rating uplift based on its assessment of a gradually reducing severity of loss in resolution for both senior debt investors and depositors ... FOCUS OF THE REVIEW....
Fitch Affirms Bank of the West's Long-Term IDR at 'A'; Outlook Stable (Fitch Inc)
Edit Public Technologies 16 Jun 2016
BOW's long-term deposit ratings are one notch higher than the company's IDR, which reflect depositor preference for the U.S. banks, and the superior recovery prospects for deposits resulting from depositor preference ... BOW's long-term deposit ratings are one notch higher than the company's IDR, which reflect depositor preference for the U.S. banks, and the superior recovery prospects for deposits resulting from depositor preference....
Fitch Affirms First Hawaiian Bank's VR at 'a-'; IDR Remains on Negative Watch (Fitch Inc)
Edit Public Technologies 16 Jun 2016
(Source. Fitch Inc). 16 Jun 2016 5.05 PM EST. Fitch Ratings-Chicago-16 June 2016. Fitch Ratings has affirmed First Hawaiian Bank's (FHB) Viability Rating at 'a-' ... On Feb ... KEY RATING DRIVERS - IDRs ... KEY RATING DRIVERS - VR ... FHB's long-term deposit ratings are rated one notch higher than the company's IDR, which reflect depositor preference for U.S. banks, and the superior recovery prospects for deposits resulting from depositor preference....
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