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High food inflation set to push up lending and deposit rates

January 11, 2011 1:51:46 am

Banks are bracing for another round of hike in loan and deposit rates. The unexpectedly high food inflation has convinced bankers that more rate hikes are in the offing. Food inflation was at 18.3% for the week ended December 25.

Banks are not responsible for lockers’ contents

January 11, 2011 12:23:01 am

I have not operated my savings bank account with SBI for four years. How can I make it active now and will the bank deduct any charges?

Axis Bank sees churn post Shikha at helm

January 8, 2011 11:33:52 pm

When Manju Srivatsa and Rajagopal Srivatsa quit in December 2010 it was one of the many senior management exits Axis Bank has seen since Shikha Sharma took over the reins of the bank in June 2009.

Vegetable,fruit & milk fuelling inflation: Expert

January 8, 2011 11:22:25 pm

Renowned agricultural economist Ashok Gulati on Friday suggested that the Reserve Bank of India should further tighten the monetary policy to contain food inflation,which has risen to 18.3%.

Centre may hike APL grain price

January 8, 2011 11:13:30 pm

With the food subsidy bill expected to rise by around 18% over the 2010-11 Budget estimate of nearly Rs 68,000 crore because of increase in procurement and allocations prices...

Uncertainty drives investors to catastrophe bonds

January 8, 2011 11:09:18 pm

It is a diversification play,as investors continue to look for assets that do not move in tandem with equities and traditional fixed-income products.

Scrap Reddys’ mine licences,says SC panel

January 8, 2011 2:42:54 am

Karnataka’s influential Reddy brothers received a major jolt with a Supreme Court-appointed expert panel on Friday recommending cancellation of iron ore mining leases belonging to two of their firms.

Budget unlikely to see indirect tax hike

January 8, 2011 1:14:19 am

The Government may retain these rates and wait for DTC to come into force in April,2012.

Facebook on track for IPO in 2012

January 8, 2011 12:15:51 am

Facebook is generating profits at a faster-than-expected rate,and will likely attract so many investors this year that it will have to disclose financial data similar to a publicly traded company by April 2012,according to a document distributed by Goldman Sachs.

LIC scam: No bail for Money Matters’ CEO

January 6, 2011 7:43:34 pm

Observing that Rajesh Sharma,chairman and managing director of city-based firm Money Matters,seemed to be the "kingpin" in the multi-crore kickbacks-for-loans scam,the Bombay High Court today rejected his bail plea.

When the Citi sleeps

January 5, 2011 10:36:04 am

Even if Citi’s top managers were not involved,they’re clearly guilty of sleeping on the job.

SC to waive Rs 25 crore fee on Vodafone’s deposit

January 4, 2011 9:24:30 pm

The Supreme Court said it Would waive the 1% court fee on the Income Tax Department.

Banks net interest margins may rise: CARE

January 4, 2011 2:15:03 am

Leading rating agency CARE expected the improvement in yield on advances to outpace the growth in cost of deposits in the banking industry.

Obama’s New Year’s resolution: Repair the struggling economy

January 2, 2011 2:00:47 am

In his weekly radio and Internet address on Saturday,the vacationing President said recent data showed the economic recovery was gaining traction even as millions of Americans are still out of work.

Nano steals the show as auto sales surge

January 2, 2011 1:59:14 am

Auto sales zipped ahead in December,with Tata Nano posting a smart turnaround. During the month,5,784 Nano units were sold,a jump of 60% over December 2009. In contrast,only 500 Nanos were sold in November.

CNG rates in Delhi to be revised upward to Rs 29/kg from today

January 2, 2011 1:42:37 am

Close on the heels of a petrol price hike,compressed natural gas rates have been revised upward to Rs 29 per kg in the national capital with effect from Sunday midnight.

Disciplined investment in SIPs helps survive downturns

January 1, 2011 10:08:01 pm

Krishnamurthy Vijayan,managing director of IDBI Asset Management says that the best performers of mutual funds in any given year are rarely the best performers in subsequent years as one is usually catching them at the zenith of their performance.

Buy a house,save long-term cap gains tax

January 1, 2011 10:04:50 pm

Did you know that investing in a house could save you from paying taxes on your long-term capital gains? I-T Act,1961 provides an incentive to individual/HUF in the form of exemption from capital gains on transfer of long-term capital assets,if the amount is invested in a new residential house.

KYC defaulters’ investments will be redeemed

January 1, 2011 9:59:54 pm

A capital protection-oriented fund is basically a closed-ended debt scheme which invests in both equity and fixed income instruments in a pre-determined ratio.

Structured hybrid products fare poorly on liquidity,yields

January 1, 2011 9:53:25 pm

Investors essentially look for safety,liquidity and yields. Recently,we have noticed the entry of structured products which promise to be everything to everybody.

Be wise,tax wise

January 1, 2011 9:48:24 pm

Santa turns up at the end of the year and the taxman appears soon after. It is the time when insurance companies go on an overdrive with new tax-saving products.

Imported onions from Pak to reach on January 7: Sources

January 1, 2011 12:57:30 pm

Commerce and Industry Minister Anand Sharma said he hoped this would further soften prices.

Maruti stock gets at ‘Accumulate’ rating

December 29, 2010 11:07:05 pm

Yen remains on a strong foothold; posing margin worries. has significant yen exposure pertaining to imports and royalty outgo. Maruti Suzuki India’s exposure to foreign currency through imports in FY11E is expected to be around 28% of their net sales of which around 80% is yen dominated.

No fall in equity mutual fund dividends

December 29, 2010 10:52:20 pm

Dividend payout by equity mutual funds have not been hit by changes initiated by Sebi.

Gas pipelines set to compete on price

December 29, 2010 1:49:31 am

The Petroleum and Natural Gas Regulatory Board,the downstream regulator in the energy sector,has proposed to give gas pipeline operators freedom to compete in overlapping areas so that consumers benefit by way of lower tariff and softer gas prices.