Wednesday 28 December 2011

[www.keralites.net] Re: ഈസ്‌റ്റേണ്‍ മുളകുപൊടിയില്‍ മാരകവിഷം......

 

Shame on the media. if this news is true i feel pity on the media. why dont they publish this news in the t.v. chanels & in the newspaper. why are you playing with the life of the people. Again iam telling that "IF" this news is true Peoplle all over the WORLD must BANNED OR BOYCOT all the products of EASTERN . I appeal to all the peoples all over the world be careful with this type of products which is not FIT for the HEALTH of the peoples.

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[www.keralites.net] Kerala-based banks up NRE deposit ante

 

 
Raise interests on these deposits for the second time since rates were deregulated by RBI. Though barely a fortnight has passed since the Reserve Bank of India (RBI) deregulated non-resident deposit rates, the rate war among banks has intensified.   Many Kerala-based banks have increased interest rates on non-resident (external) rupee (NRE) term deposits for the second time in a week. These banks typically have a high share of non-resident deposits in their total deposit base, owing to a large number of clients in West Asia. Kochi-based Federal Bank and Thrissur-based South India Bank had, last week, announced a rise in NRE term deposit rates. Both the lenders have now revised their non-resident deposit rates again, to compete against large public and private sector banks.
 
 
 
 NRE DEPOSIT RATE CARD
Peak rate after rise (%)
Kerala banks
First rise
Second rise
State Bank of Travancore
8
9.5
South Indian Bank
6.75
9.25
Federal Bank
6.5
9.1
Dhanlaxmi Bank
8
Yet to decide
Other major banks
Rate
State Bank of India
9.25
ICICI Bank
9.25
Punjab National Bank
9.25
HDFC Bank
9
Source: Banks
The move follows large lenders like State Bank of India (SBI), ICICI Bank and HDFC Bank announcing sharp increases in NRE term deposit rates earlier this week.
Federal Bank had increased the interest rate on one year NRE deposits from 3.82 per cent to 6.50 per cent on December 19. The bank said it would offer this revised rate only for till December 31. However, even before this period was over, the private lender has increased the non-resident term deposit rate for the second time. It would now offer 8.25 per cent on one year NRE deposits of up to Rs 50 lakh, 8.75 per cent on deposits between Rs 50 lakh and Rs 1 crore, and 9.10 per cent on deposits above Rs 1 crore. The bank has also increased NRE deposit rates on maturities of more than one year.
"Initially, we had announced a moderate rise in the one-year NRE deposit r
ate, and had decided to watch the market. As large banks increased their rates quite aggressively, we also decided to revise our rates," a senior Federal Bank official told Business Standard.
The private lender has about Rs 1,400 crore of NRE term deposits. The official said the bank's margin was unlikely to be stressed in the near term, as the new rates would be applicable only on fresh deposits.
South Indian Bank, which had increased NRE term deposit rates for maturities ranging between one and 10 years to 6.75 per cent, has also raised its rates again. The lender said from December 27, it would pay 8.50 per cent interest on one-year deposits of up to Rs 50 lakh, and 9.25 per cent on deposits above Rs 50 lakh. The bank would also offer 8.50 per cent interest on one to two-year NRE deposits and 7.75 per cent on deposits for a maturity of over two years.
Other Kerala-based banks, including Dhanlaxmi Bank and State Bank of Travancore, are also expected to announce a second increase in their non-resident deposit rates soon.
"We are meeting at the end of this week to take stock. We will decide if there is scope for a further rise in our rates in the meeting," said Salil Datar, head of branch banking and non-resident Indian business, Dhanlaxmi Bank. The Thrissur-based bank has about Rs 250 crore of NRE term deposits.
Datar said the bank did not foresee any near-term pressure on its margin because of the rise in rates. "Our base is not very large. We have the elbow room to increase our rates and grow business rapidly. I don't think it would have any material impact on our margin."
Dhanlaxmi Bank, which raised its NRE term deposit rates on Monday, pays eight per cent interest on deposits of one to three years, and 7.75 per cent on deposits of three to 10 years.
State Bank of Travancore (SBT), the only public sector bank based in Kerala, has also decided to revise its non-resident deposit rates for the second time from January 1. The bank, which raised these rates on December 24, currently offers up to eight per cent interest on these.
The bank would revise its rates to 9.5 per cent for one to three-year deposits and 9.25 per cent for three to five-year deposits from January.
"There is competition among banks in Kerala for non-resident deposits," said P Nanda Kumar, managing director, SBT. He, however, added the impact on margins would be limited, as the bank was reducing its dependence on bulk deposits. Non-resident deposits currently account for around 12 per cent of SBT's total deposits.
On December 16, RBI had deregulated interest rates Indian banks pay on NRE savings, term deposits and ordinary non-resident (NRO) savings accounts. The central bank had said rates on non-resident deposits could not be higher than the ones they paid on domestic term deposits of similar maturities.
Large lenders like SBI and ICICI Bank have raised their non-resident deposit rates aggressively. Both are currently offering up to 9.25 per cent on these deposits. While ICICI Bank's rate rise is effective from December 29, SBI would offer the revised rates on NRE term deposits from January 1.
Source : BS
Best Regards
Prakash Nair

www.keralites.net

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[www.keralites.net] Today's Thought from Benny Maramon

 
BENNY
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[www.keralites.net] Explosion of Warehouse at Yangon( sat san),Myanmar

 

Explosion of Warehouse at Yangon( sat san),Myanmar on 29th December, 1:30 am



 

 


 

 


3:25 am (PHOTO-Nay Lin Aung)


 


 




 


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[www.keralites.net] RBI cautions public against fictitious offers

 

The Reserve Bank of India, RBI, has cautioned the public against falling prey to fictitious offers of cheap funds that are rampant in recent times. In a press statement at Guwahati, the RBI said, the fraudsters often lure the public in the form of lottery prize money through letters, e-mails, SMS etc. It said such fraudulent communications were even sent on fake letterheads of the Reserve Bank of India or other reputed organizations, purportedly signed by their top executives or senior officials.
The Bank said, many residents have fallen victims to such tempting offers, and in the process, have lost huge sums of money. The fraudsters seek money from people, under different heads such as, processing fees, transaction fee, tax clearance charges, conversion charges, clearing fee etc.
They open multiple accounts in banks in the name of individuals or proprietary concerns in different bank branches for receiving such payments. The amount so remitted is withdrawn immediately, leaving the victims in the lurch.
The RBI has advised the public not to remit or deposit any amount in response to any fictitious offers of easy money through lottery or prizes received mainly through letters, email or SMS.
The bank has also clarified that it does not maintain any account in the names of individual, companies or trust to hold funds for disbursal. The RBI has further ruled out any possibility of it asking people to deposit money in any account.
The Bank has also warned the public that making any type of remittance towards participation in schemes of lotteries or offers from unknown entities abroad or their agents in India is illegal.
Best Regards
 
Prakash Nair

www.keralites.net

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