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RBI’S NEW ECONOMIC BOOST

16th November, 2008

The Indian Express

RBI’S NEW ECONOMIC BOOST
The Indian Express
FOR HOUSING
Provisioning requirements for standard assets cut to a uniform level of 0.40%, lowering cost of funds for banks
Claims secured by commercial real estate to attract uniform risk weight of 100% as against risk weight of 150%
Housing finance companies allowed to raise short-term foreign currency borrowings FOR INDIA INC.
Unrated claims on corporates to attract uniform risk weight of 100% ? RBI to consider proposals from Indian companies to prematurely buy back their FCCBs FOR EXPORTERS
Period of entitlement of first slab of preshipment rupee export credit extended
Export credit refinancing facility for scheduled banks extended to 50 per cent from 15 per cent FOR NRIs
Interest rates on FCNR and NR(E) RA deposit schemes hiked.
Reduction in risk weightage to bring relief to home-loan customers, realtors, stock markets All unrated claims on corporates and claims secured by commercial real estate to attract a risk weight of 100 pc.

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