Inflation at 3.12%
New Delhi: The annual rate of inflation has risen for the sixth
consecutive week to touch 3.12 per cent for the week ended 13 November. The rise has been
in spite of marginal fall in the wholesale price index.
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index pageNHB act may be amended
New Delhi: The government is understood to be considering amendment to
the National Housing Bank act to vest the organisaiton with quasi-judicial powers. The
amendment is expected to open up a Rs 20,000 crore to Rs 30,000 crore securitisation
market, facilitate insurance mortgage, provide security to lenders, reduce non-performing
assets, speed up loan recovery and enhance lending capacity. With quasi-judicial powers,
NHB will be able to recommend attachment of property in case of default in loan
repayments.
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NatWest rejects Royal
Bank bid
London: National Westminster Bank has rejected a friendly takeover bid by
Royal Bank of Scotland as it prepared itself to ward off a hostile bid by Royal
Bank’s rival, Bank of Scotland. NatWest waited until the last hour of key deadline
before making its decision known. It now plans to cut costs and buy back shares. The
English bank held back the documents as talks with Royal Bank of Scotland over its
possible $42.19 billion bid dragged on.
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