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Saturday, September 04, 2004

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MONEY & BANKING

FOREX
More exporters invoice in euros
EVEN as the rupee has fallen sharply against the dollar, euro invoicing by domestic exporters has continued to rise. Bankers here said that some of the large garment exporters have also begun shifting to the euro. So far only some of the ... More

Rupee in tight range against weak dollar
MUMBAI: The dollar's weakness overseas continues to augur well for the Indian rupee, which closed around 3 paise stronger at 46.2950/30 per dollar on Friday as against its close of 46.32 on Thursday. The domestic currency opened at 46. ... More

STOCKS
Bank stocks see across-the-board buying
BANKS stocks were back in the limelight in today's trading despite rise in inflation rate. Various announcements in the last few days by the Government and RBI have brought interest in banks stocks, brokers and analysts said. In today's trading ... More

LIFE INSURANCE
LIC Madurai divn gets 18th position in first premium
THE Madurai Division of the Life Insurance Corporation of India has secured the 18th position in the first premium insurance, among the 100 divisions in the country, up to July during the current year. According to the Senior Divisional ... More

FINANCIAL POLICY
LIC, GIC, UTI asked to withdraw funds from SDS — Govt move to cut down interest payouts
THE Finance Ministry has virtually closed the Special Deposit Scheme (SDS) window for the Life Insurance Corporation of India (LIC), General Insurance Corporation (GIC) and its subsidiaries and the Unit Trust of India (UTI). The Finance ... More

RBI & OTHER CENTRAL BANKS
A weak-kneed response from RBI
IT is not a particularly pleasing sight to see the Reserve Bank of India go weak in the knees and rescue banks from possible losses on their gilt investments. One thought the RBI was made of sterner stuff. For three years banks made massive ... More

PRIVATE BANKS
YES Bank to woo corporate clients
YES Bank, which commenced operations as a scheduled commercial bank, will initially target corporate and wholesale banking customers. YES Bank said it would focus on key sectors food and agri-business and infrastructure management with a focus ... More

HC orders TMB not to transfer shares
THE Madurai Bench of the Madras High Court has asked the Tamilnad Mercantile Bank not to transfer about 95,400 shares. In an order, the Bench said, "we direct the first respondent bank not to consider any application for transfer of 95,485 ... More

PUBLIC SECTOR BANKS
BoI to issue 2 lakh kisan credit cards
BANK of India (BoI) plans to issue more than two lakh Kisan Credit Cards 2004-04 to help achieve its aim of disbursing over Rs 3,300 crore towards agriculture credit in the current fiscal. The focus would be on small and marginal farmers. Of ... More

GOVT BONDS
Bonds rally despite surge in inflation
CONTRARY to expectations that the domestic debt market would tank following the inflation rate surging to a four-year high at 8.17 per cent, bond prices rallied by over one rupee across maturities leading to a softening in the yields of many ... More

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