MONEY & BANKING
FINANCIAL SERVICES
Bajaj Capital hires Madison Creative
CHENNAI: Madison Creative, the full service advertising agency arm of Madison Communications, has bagged the creative duties for Bajaj Capital, which provides financial planning and investment advisory services. The new account is ...
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INSIGHT
Forex market intervention for transition economies
DOMESTIC monetary policy and exchange rate management are largely affected by forex flows. The kind of exchange rate regime that is followed in an economy determines the impact of forex flows on monetary policy. ...
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FOREX
Rupee firms up; bonds decline
MUMBAI: The domestic currency strengthened for the third session in a row to close at 46.20/21 on Thrsday against the dollar . It ended up 10 paise from the previous close at 46.30/31. The TCS IPO is expected to bring foreign inflows to ...
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LIFE INSURANCE
SBI Life plans unit-linked product
SBI Life Insurance is set to come out with its first unit-linked product, for which it will soon seek IRDA's approval. The product will appeal to those who wish to buy an insurance scheme that combines the best of both insurance and ...
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GENERAL INSURANCE
Pooling strengths of reinsurers in the region — GIC working on pan-Asian platform
`We are trying to make optimum use of the combined Asian capacity. The idea is to reduce dependence on US and European markets and take care of our own needs,' said Mr P.C. Ghosh, Chairman of GIC.
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RBI & OTHER CENTRAL BANKS
RBI dividend transfer
THE Reserve Bank Board has, in its meeting held today, decided to transfer a dividend of Rs 5,400 crore to the Government of India out of its surplus profit for the year ended June 30, an RBI spokeperson confirmed in a release issued on ...
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PRIVATE BANKS
ICICI Bank moves credit cards creative account
ICICI Bank has shifted its creative account for its credit cards from Leo Burnett to Enterprise Nexus in Mumbai. The media buying account for ICICI credit cards will, however, continue to rest with Mindshare. Confirming the shift, ICICI Bank ...
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INTEREST RATES
Call rates surprise market
INTER-Bank call rates today were in the range of 5.5 per cent to 6 per cent intraday, but eased into the range of 4.8-5 per cent towards the end of the day. The Reserve Bank of India accepted the sole bid in the reverse repo auction worth Rs ...
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Repo rate hike in the offing
A HIKE in the Reserve Bank of India's repo rate appears to be in the offing as part of the measured inflation control steps. Bankers are anticipating the repo rate hike, well before the peak season credit policy. The repurchase operations or ...
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CORPORATE GOVERNANCE
Corporate governance norms for insurers soon
THE Insurance Regulatory and Development Authority (IRDA) has proposed to come out with a set of corporate governance norms that insurance companies, both life and non-life, must follow. The norms will be separate, but not dissimilar, from what ...
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TRADE & LABOUR UNIONS
Bank TUs for limited transfers; strike plan stands
BANK unions are willing to agree to the transfer of clerks within a district or to at least neighbouring districts within "reasonable distance." However, the managements, represented by the Indian Banks Association (IBA), are unwilling to agree ...
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CO-OPERATIVES
Bellampalli co-op bank licence cancelled
HYDERABAD: The Reserve Bank of India has cancelled the licence of the Bellampalli Co-operative Urban Bank Ltd located at Bellampalli in Andhra Pradesh to carry on banking business. In a press release, the RBI said the co-operative urban ...
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Cross Currency Rates
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