Interest rates unlikely to fall soon: SBI MD (The Financial Express 12th Dec 2007) Interest rates in India are unlikely to come down in the short to medium term, TS Bhattacharyya, managing director of State Bank of India, the country's biggest bank, said on Wednesday. RBI may tighten norms for forex derivatives (Business Standard 12th Dec 2007)The Reserve Bank of India (RBI) may soon tighten the norms for foreign exchange derivatives, amid several banks and companies facing losses with calls on currency movements going wrong. The norms may require banks to insist on an undertaking from their corporate clients that such deals are being struck only for risk management purposes and not for trading. The bank may also be empowered to obtain a copy of the corporate clients' risk management practices and approval from the top management for the product before striking the derivative structure. Lower rates boost SBI home loans (Business Standard 12th Dec 2007)The lower interest rate...
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