|Chennai||Rs. 27770.00 (-0.14%)|
|Mumbai||Rs. 29200.00 (2.31%)|
|Delhi||Rs. 27900.00 (-0.36%)|
|Kolkata||Rs. 28270.00 (1%)|
|Kerala||Rs. 27050.00 (-0.37%)|
|Bangalore||Rs. 27550.00 (1.66%)|
|Hyderabad||Rs. 27770.00 (-0.14%)|
: The Netherlands nationalized its fourth-largest bank on Friday, injecting $3 billion into SNS Reaal NV to head off any chance of a messy collapse that would threaten the country's economy and financial system.
DEFICIT EFFECT: The cost means Netherlands' budget deficit in 2013 will be higher than the 3 percent allowed under European Union rules unless the Cabinet comes up with more unpopular austerity measures.
THE BANK: SNS has insurance and banking operations, including about 10 percent of Dutch retail deposits. Its decline occurred over several years as sliding property values eroded its real estate loans portfolio.