Do you withdraw money from savings bank account just before the need and not few days in advance to make few extra bucks for the money lying in your savings account?

For almost in 12 years, credit growth has dropped to single digit, at 9.66% on a year on year basis for the first time against a growth rate of 10.75% in the last fiscal as per available data. To protect and to maintain their books, banks had parked more than Rs.133,925 Crores with RBI through reverse repo window which is normally used to suck out the excess money from the system.

Islamic Bank cannot be called a Bank because of RBI guidelines but it looks like time has changed and Kerala may have first Islamic Bank Next year.

RBI has, vide its circular dated April 13, 2009, made the following changes in High Value Clearing for metro centers. Following is the roll out plan for RBI

For the successful Islamic banking operations, it will be on Government to implement Islamic banking. If not they should atleast provide bank status to Islamic finance institutes as they are termed right now do they can issue cheque and other such facility like banks.

Private sector banks might increase their lending rate to one percentage point (100 basis points). There is a possibility for many, to increase the rates by one percentage point from July1, 2008. This happened because of the inflationary pressure which has led to an increase of interest rates.

Sundaram BNP Paribas Financial Services Opportunities Fund is an open ended equity scheme which would be investing in banking, finance and money market related companies.