FOREIGN BANKS SEE LUCRE IN RIB
Article Abstract:
Foreign banks plan to sell State Bank of India Resurgent India Bonds (RIB) to high networth non-resident Indians (NRIs). The banks plan to lend to NRI's at a mark-up above the US treasury rate to enable them to invest in RIBs. The RIBs will provide 7.75 percent return in dollar terms. The State Bank of India will place with the arranging banks a maximum of 50 percent of their total mobilisation provide they mobilise subscriptions worth $10 million. This will enable the foreign banks to shore up their domestic rupee resources. (vv)
Comment:
Allows foreign banks to sell its Resurgent India Bonds to high networth non-resident Indians
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SBI SETS ADVANCES GROWTH TARGET AT Rs11,000 CR
Article Abstract:
The State Bank of India (SBI) has plans to increase its advances portfolio by 16 percent to Rs11,000 crore during 1999-2000 AD. Of the Rs11,000 crore advances, Rs2,000 crore will be towards personal sector, Rs3,000 crore for small scale and agricultural sectors and the balance Rs6,000 crore towards the corporate sector. The Rs1,000 crore in personal loans will go towards car finance, gold loans and consumer finance. The Bank plans to focus on fee-based activities and personal finance as part of its business strategy during 1999-2000. (um)(vr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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