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Friday, November 05, 2004

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MONEY & BANKING

FOREX
`China may revalue yuan'
CHINA may move to revalue its currency in the near future, an event that may eventually have a negative impact on the commodity market, felt Mr S. Naganath, Joint President & Chief Investment Officer of DSP Merrill Lynch Fund. Mr Naganath ... More

Rupee at 5-mth high; bond prices decline
MUMBAI: The rupee strengthened on the back of substantial FII inflows to a five-month closing at 45.20/21 against the dollar on Thursday. The rupee gained 17 paise over the previous day's close at 45.37/3750. There was good two-way ... More

GENERAL INSURANCE
Seven-year long legal battle over ESI cover before apex court
EVEN as the Government is making efforts to strengthen the Employees' State Insurance Corporation (ESIC), employees of a large number of big corporates as well as a few public sector enterprises (PSEs) want to opt out of its health scheme cover. ... More

FINANCIAL MARKETS
`Cos unaware of innovations in raising funds'
A NUMBER of innovations are taking place in the financial market, giving means for cheaper finance to companies. But the market is perhaps not fully aware of them, said a speaker today at The India Finance Forum 2004, a conference on `Emerging ... More

DEBT MARKET
`NDS gilt trading must be under RBI watch' — Panel seeks screen-based order matching system
THE Reserve Bank of India Working Group on `Screen Based Trading In Government Securities' has called for the immediate introduction of a screen-based anonymous order matching system on the Negotiated Dealing System (NDS). This would ensure ... More

RBI & OTHER CENTRAL BANKS
Firms raise $1.5 b through ECBs in Sept
INDIAN companies took in $1.5 billion through external commercial borrowings (ECBs) in September, according to the latest figures put out by the Reserve Bank of India. The total ECBs for the corporate sector have crossed $6.6 billion in the ... More

PRIVATE BANKS

  • BOB branch at Kottayam
  • New premises for Dhanalakshmi Bank

    PUBLIC SECTOR BANKS
    SBH plans `Loan Mahotsav'
    STATE Bank of Hyderabad (SBH) is launching its two-day annual `Festival Loan Mahotsav' on November 5 at the Institute of Engineers here. In a press release here on Thursday, the bank said it expects to book business to the extent of Rs 100 ... More

  • SBT shifts Akkulam branch

    INTEREST RATES
    Many banks in Kerala hike deposit rates
    The Catholic Syrian Bank has increased its interest rates for domestic term deposits for 15 - 45 days maturity to 4.25 per cent; for 46 - 179 days to 5 per cent; and 180 days to one year to 5.5 per cent. Periods over one year but less ... More

    GOVT BONDS
    RBI cancels Rs 2,500 cr auctions under MSS
    The cancellation of the MSS auction is indicative that RBI may cancel further issuances under MSS, in view of tight liquidity, dealers said. More

    MERGERS & ACQUISITIONS
    UTI Bank stake hike — HSBC to await clarity on FDI policy, voting rights
    HSBC has said that it would await the final policy on foreign direct investment (FDI) and voting rights cap in private banks, before deciding on whether to hike its 14.6 per cent stake in UTI Bank. "Once new regulations and RBI guidelines come ... More

    CPI (M) flays move to allow foreign banks to acquire shares
    THE CPI (M) Polit Bureau Member, Mr Prakash Karat, has criticised the recent statement of the Union Finance Minister, Mr P. Chidambaram, where the latter had said that the Government is open to allowing acquisition of shares - up to 10 per ... More

    TRADE & LABOUR UNIONS

  • Kerala Circle SBI staff to strike work
    Cross Currency Rates



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  • Top Stories
    Bengal promises full support for Jindal Steel project


    ARPU of cellular firms stabilising

    `China may revalue yuan'

    Rise in coffee prices not enough, feel growers

    Bullish on crude, bullish on bonds

    Paper prices set to rise again by Jan

    `Cos unaware of innovations in raising funds'

    `Bush win will ensure continuity'

    Looking back
    Oct. 24-Oct. 30
    Forex reserves up $332 m

    Bond market awaits Credit Policy for direction

    HDFC Q2 net up 22 pc at Rs 248 cr

    PNB looking at PSU bank for merger?

    BoI Q2 profit down 78 pc


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