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According to RBI data, Indian banks’ real estate exposure grew 61% to touch Rs 90,765 crore Y-o-Y as on February 27, 2009, as compared to the growth of 26.7% during the corresponding period in the previous year. Foreign banks too, were not way behind when it came to lending the realty sector, registering a modest … Read more RBI Data on Banks Lending to Real Estate Grew 61% YoY
Private air carrier Jet Airways has announced new special return fares between Indian cities and London effective from Wednesday, May 6, 2009 until June 30. However to avail the special fares the bookings will have to be made in May, airline officials stated. Under the new scheme the return economy ticket, normally costing over Rs … Read more Jet Airways slashes return fares to London
The Securities Exchange Board of India (SEBI) is reported to have issued show-cause notice to Mukesh Ambani led Reliance Industries (RIL) and its group entities, following an investigation into charges of insider trading in securities of group firm Reliance Petroleum (RPL). RIL had sold more than 4% equity in RPL in November 2007, prior to … Read more SEBI notice to RIL, 12 associates over RPL insider trading charges – An Eyewash
Housing Development Finance Corporation (HDFC) has postponed the plan to list its insurance business – HDFC Standard Life — from the previous schedule of end of 2009 to March 2011 due to the current market conditions, company officials stated. HDFC ventured into the life insurance sector on a joint venture basis with UK-based Standard Life. … Read more HDFC delays listing plan of insurance business
Edelweiss Mutual Fund floated Edelweiss Diversified Growth Equity (E.D.G.E) Fund-an open ended equity scheme. The new fund offer (NFO) is open for subscription from May 4, 2009 to May 8, 2009. The Scheme offers three plans i.e. Plan A, Plan B and Plan C with common portfolio. These plans will have dividend (reinvestment, payout and … Read more Edelweiss MF floats E.D.G.E Fund
Mumbai based Bank of Baroda (BoB) has replaced Canara Bank to become the third-largest public sector bank in India in terms of profit and total business for 2008-09. State Bank of India is currently the country’s largest public sector bank followed by Punjab National Bank. BoB recorded a net profit of Rs 2,227 crore for … Read more Bank of Baroda replaces Canara Bank to become the third-largest PSU bank