National Payments Corporation is prodding banks to sign up for a software that would map customer spending to check credit card frauds.
The Lafarge bond issue signifies a clear trend in the Indian bond market, with a growing number of manufacturing companies coming to raise funds.
Many like Majumdar are shying away from using electronic payment modes the Reserve Bank of India wants to popularise.
Top-rated companies are enjoying a windfall in raising shortterm funds with many fetching funds at well below the banks’ base rates as default-scarred lenders shun lesser rated firms.
Yields on ten year bonds fell to 7.85% after the Reserve Bank of India cut the repo rate by 25 basis points, as expected widely by the markets.
Yields on ten year bonds rose to 7.90% after opening at 7.88 per cent in the morning as many in the bond market expect the RBI to pause or at best do a token rate cut of 25 basis points.
Foreign investors scrambled for govt bonds for the third straight month, as the latest auction of permits received record number of bids in two years.
Forecasting monsoon showers may turn out to be an easier vocation than the interest rate decisions of RBI Governor Duvvuri Subbarao.
Yields on ten year government bonds shrunk by 87 basis points from 8.7% in April last year to 7.83%, the lowest yields fell since September 2010.
Rs 1,500 crore through bond sale as it aims to capitalise on the easing interest rates, said two people familiar with the matter.
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