The Hindu Business Line : Friday, April 08, 2005

Western Union seeks nod to enter domestic money transfer market
WESTERN Union Financial Services plans to enter the domestic money transfer market in India, Ms Christina Gold, President of the company, today said. The US-based money transfer company has approached the RBI and the FIPB for permission to ... More

Australian co to educate market participants
THE $100-million Hubb Organisation, Australia, is launching operations in India with its educational wing, Safety In The Market (SITM), which provides education on the financial markets. Currently operating in the US, Singapore, Hong Kong, and ... More

INSIGHT

Plastic rules: Light at the end of tunnel?
THE Reserve Bank of India (RBI) asking the Indian Banks Association (IBA) to evolve a code of conduct for issuing credit cards and the setting up of a working group for evolving a regulatory mechanism for credit cards ... More

FOREX

Rupee firmer; gilts plunge
MUMBAI: The rupee closed stronger at 43.7250/7350 against the dollar on Thursday buoyed by the dollar weakening overseas. The rupee had closed on Wednesday at 43.75/76. "With the announcement that foreign investment may be raised in ... More

INSURANCE

Insurers earn more from investments
The increase in mean yield was helped by some savvy treasury management, whereby insurers sold some of their equities and moved into sovereign papers. More

LIFE INSURANCE

ICICI Pru leads the pack in new biz
BAJAJ Allianz Life insurance has reached the number two position pushing Birla Sun Life to number three. As per the Insurance Regulatory Development Authority (IRDA) results for the first 11 months of FY 04-05, in terms of new business ... More

GENERAL INSURANCE

New India global premium
NEW India Assurance has received Rs 5,000 crore as global premium, the highest for a non-life insurance company. It has received Rs 4,207 crore in India and Rs 900 crore from 23 countries overseas. A senior official of the company said that ... More

National Insurance rating lowered
ICRA has downgraded the iAAA rating assigned to National Insurance Co to iAA+, indicating high claim paying ability. The rating agency has referred to a deterioration in underwriting profitability in 2003-04, growing competitive pressures and ... More

DEBT MARKET

Bond yields rise on panic selling — Inching up to touch 7 pc on benchmark paper
BOND yields are inching towards the psychological barrier of 7 per cent amid panic selling in the domestic debt market. The yield on the ten-year benchmark Government paper, the 7.38 per cent 2015, on Thursday touched a high of 6.99 per cent ... More

PRIVATE BANKS

KVB ties up with FSS for mobile recharge facility at ATMs
KARUR Vysya Bank cardholders can nowpurchase recharge coupons for their pre-paid mobile phone connections through the bank's automated teller machine network. To facilitate this, the bank today signed an agreement with Financial Software & ... More

PUBLIC SECTOR BANKS

No move to raise the ceiling of 20 per cent — ADS/GDR of State Bank to be within FII limit
IN what would come as a dampener to foreign institutional investors (FIIs) hoping to corner a larger pie of State Bank of India (SBI) shares, the Ministry of Finance has decided that the bank's American Depository Shares (ADS) and Global ... More

FOREIGN BANKS

HSBC finds returns from India attractive
THE Hongkong and Shanghai Banking Corporation's India operations fetch about 26 per cent return on capital - attractive enough to encourage further investments. The bank has so far invested about $800 million in India operations and has ... More

CREDIT MARKET

Union Bank to allot Rs 3,110 cr as loans in Ernakulam
UNION Bank of India, along with other banks, has finalised a scheme to disburse Rs 3,110 crore as loans in Ernakulam district during the current financial year. Being the lead bank for the scheme, Union Bank will disburse the amount through ... More

TRADE & LABOUR UNIONS

Karnataka Bank employees' meet
MANGALORE: The 21st conference of Karnataka Bank Employees' Association (KBEA) will be held in Mangalore on April 9 and 10. A press release by the General Secretary of the Association, Mr P.R. Karanth, said here on Wednesday that Mr ... More

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