2. 1.RBI tells state to halt new biz. To pvt. banks RBI told several state govt. not to give new business, that could generate thousands of cr. Of income to private banks. RBI didn’t specify reason. But pvt. Bank thinks it is aimed at job creation & poverty reduction.
3. 2. Banks make most out of Base rate. Base rate has replaced BPLR(Basic Prime Lending Rate). No bank can lend below the Base rate. Base rate of banks: - SBI = 7.5% - HDFC = 7.25% - ICICI = 7.5% - PNB = 8%
4. 3. Insurers pull out 208 ULIPs unveil 42 in sep. At least 208 ULIPs withdrawn from the market during aug. & 42 new ULIPs were launched from sept. Insurers feel that every company will have only 3-5 schemes. Companies like Reliance life, Tata AIG, Birla Sunlife etc.. Will withdraw between 10 to 30 products and will launch 2-3 new products.
5. 4. Govt. Banks strengthen share in deposits, but SBI group lags. Nationalized Banks have strengthened their market share in both deposits & credit in FY10. Nationalized Banks deposits improved from 49.5% in FY09 to 51.5% in FY10. SBI group lost share in deposits from 24.1% to 22.5%. Private banks lost share in deposits from 18.2% to 17.5%.
