The Hindu Business Line : Friday, January 14, 2005

FII flows and RBI's dilemma
The real worry for the RBI vis-à-vis foreign institutional investments is that it cannot monitor capital flows, and, that it will not be able to continue with its exchange rate policy, which enables the central bank to intervene to smoothen the volat ility in the currency market. There is, then, the other option of giving up capital account management and moving towards convertibility. This is the dilemma for the RBI that needs to be resolved quickly by the Government, says S. Narayan. More

FOREX

Rupee up 12 paise; bonds lacklustre
MUMBAI: The domestic currency closed stronger at 43.71/72 against the dollar on Thursday, around 12 paise higher than its close on Wednesday. Dealers said that the rupee was largely tracking the movement of the greenback against the ... More

LIFE INSURANCE

Tata AIG Life unveils Shubhlife
MUMBAI: Tata AIG Life Insurance Company Ltd on Thursday announced the launch of Shubhlife, a flexible endowment life insurance policy. Shubhlife offers the flexibility of choosing the term of the policy from 10, 15, 20, 25 and 30 years. ... More

PUBLIC SECTOR BANKS

Canara Bank signs pact with Ministry for rural schemes
CANARA Bank has signed a Memorandum of Understanding (MoU) with the Development Commissioner (Small Scale Industries), Union Ministry of Small Scale Industries (SSI) for mutual cooperation in promotion of employment through micro and macro ... More

Corporation Bank staff urged to focus on improving quality
THE Chairman and Managing Director of Corporation Bank, Mr V.K. Chopra, has asked his staff to concentrate on improving the quality of assets to remain strong in the competitive environment. A press release by the Corporation Bank Officers' ... More

FOREIGN BANKS

StanChart groups S. Asian nations into one region
STANDARD Chartered is forming a new South Asia region within the bank, comprising India, Nepal, Sri Lanka, Bangladesh and Afghanistan, effective March 1. Mr Jaspal Bindra, who is currently global head of client relationships in wholesale ... More

CORPORATE BONDS

IDBI Flexibonds issue from today
INDUSTRIAL Development Bank of India Ltd is coming out with its public issue of IDBI Flexibonds-22 to tap the retail bond market, which will open for subscription on Friday. The issue will close on February 3 and is the first tranche being ... More

State Bank of Mysore raises Rs 175 cr
BANGALORE: State Bank of Mysore has raised Rs 175 crore through Tier II capital by issuing unsecured non-convertible bonds. The bonds carried coupon rate of 7.10 per cent with a tenor of 111 months. ... More

PUBLIC OFFER

Dena Bank public issue opens Jan 24
MUMBAI: Dena Bank's second public issue of eight crore shares aggregating Rs 216 crore is slated to open on January 24 and close on January 29. The bank is entering the market to raise funds to augment its capital base to meet future ... More

CO-OPERATIVES

So much for expert panels on rural credit delivery
THE number of reports on the rural credit delivery system matches the population of co-operative credit institutions, goes a common saying in banking circles. No expert report is vastly different from the other, and the experts cannot be ... More

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