NDPMS Wealth Management

Dena Bank cuts interest rates on retail loan products -Dena Bank to offer home loan up to Rs 1 crore at base rate Alert: Dena Bank's base rate currently stands at 10.25 percent -Dena Bank to offer home loan above Rs 1 crore at 10.50 percent -Dena Bank cuts interest rates on car loans by 100 bps to 11 percent,  Source: Moneycontrol

September  trade deficit surprises, at $80.2bn lowest in 30 months  Oil imports fallen 6% (YoY) Gold, Silver imports fallen to $0.8bn vs $4.6bn (YoY) Agri, pharma, textiles exports doing well Gems, jewellery exports picking up

Rating agency CRISIL has downgraded Central bank of India’s tier Ibonds and Tier II bonds to “AA” from “AA+” on expected weakening of credit profile on sustained deterioration in asset quality and earnings. Mumbai-based public sector lender is witnessing a sharp and sustained deterioration in asset quality. Its gross non-performing assets (NPA) increased significantly to 6.0% as on June 30, 2013 from1.8% as on March 31, 2011.  The deterioration in the bank’s asset quality is also reflected in its higher-than-industry-average slippages at 5.6% (annualised) for the quarter ended June 30, 2013 (3.5% in 2012-13), CRISIL said in a statment  Rajeev Rishi, its chairman and managing director, told Business Standard  the non-performing assets is a concern for bank. It is reflection of economic environment (read adverse effect of slowdown).  The economic turn-around can bring benefits especially when the stalled projects get-off the ground...