Finance News 14 july 2016

HDFC’s masala bonds subscribed three times so farHousing Development Finance Corporation’s (HDFC)’s masala bonds’ issue has so far

seen two-three times subscription for the coupon rate the mortgage lender is perceived

to issue the paper at.

Motor insurance to have more touch-

points

Customers will now find it much easier to buy motor insurance policies or renew their

existing ones on the go as the Insurance Regulatory Authority of India (Irdai) has

allowed more touch points and prevented insurers from discriminating between dealers.

Limited capital pool to squeeze PSBs’

loan growth, warns India Ratings

Limited availability of growth capital for public sector banks (PSBs) could pull down their

loan growth to a compound annual rate of nine per cent between 2015-16 and 2018-19,

says India Ratings and Research.

This would be the minimum needed to generate sufficient spreads for absorbing the

expected operating and credit costs over this period, it said. And, this is likely to be

lower, at 8.1 per cent over FY16-19 for mid-sized PSBs; some would likely see a loan

book decline

Rupee hits 1-month high of 67.05, up 13

paise

The rupee on Wednesday recovered by 13 paise to close at one-month high of 67.05 a

dollar on fresh selling of the american currency by banks and exporters in view of

sustained inflows from foreign funds amidst weakness of dollar in the overseas market.

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