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Thursday, August 11, 2005
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Payments Corporation on anvil — RBI committee meeting today
THE Reserve Bank of India is preparing the ground to incorporate an umbrella organisation to operate all retail payments and settlement systems in the country, according to the RBI Governor, Dr Y.V. Reddy. The Indian Banks Association (IBA), ... More

OUTSOURCING


Denouncing outsourcing
RBI employees staging a lunch-hour demonstration against outsourcing of the apex bank's work, in New Delhi on Wednesday.

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FOREX


Rupee tad weaker; bonds bullish
MUMBAI: The rupee was largely stable around levels of 43.53 on Wednesday, but fell towards the end of trade, due to dollar demand by importers. The rupee opened at 43.54/55 and closed at 43.56/57, lower than Tuesday's level of ... More

HOUSING FINANCE


BoB retail loans cheaper
BANK of Baroda has reduced interest rates on retail loans. These include housing, car loan and traders loan. The new rates will be effective from August 1. In a press release here today, the bank said the rate cut was being effected to ... More

LIFE INSURANCE


Bajaj Allianz Life ties up with 5 co-op banks
BAJAJ Allianz Life Insurance has secured bancassurance partnerships with five co-operative banks. These include the Parwanoo Urban Cooperative Bank (Himachal Pradesh), Integral Urban Cooperative Bank Ltd (Jaipur), Ajit Sahakari Bank Ltd (Pune), ... More

GENERAL INSURANCE


Dabhol cover: GIC to review reinsurance support
ICICI-Lombard had won the silent risk cover for DPC quoting a premium of Rs 12.24 crore. More

FOREIGN BANKS


StanChart may float agri-financing co
STANDARD Chartered Bank has identified several new business areas for growth through the NBFC model and could possibly float a company for agriculture financing. In an informal discussion with mediapersons here today, Mr Jaspal Bindra, General ... More

CREDIT MARKET


Govt unveils new package for SMEs — Credit to double by 2009-10; `Medium Enterprise' clearly defined
THE Government on Wednesday unveiled a new policy package aimed at stepping up credit flows to the small and medium sector. The package has for the first time clearly defined the medium enterprises (ME) as those units with investment in plant ... More

SHORT TERM INSTRUMENTS


T-bills auction fully subscribed
THE auctions of the 91-day and 182-day Treasury Bills were fully subscribed, according to a press release from the Reserve Bank of India. The notified amount for the 91-day T-bills was Rs 2,000 crore. The RBI received 52 competitive bids, ... More

TRADE & LABOUR UNIONS


SBI(Kerala Circle) staff observe protest day
THIRUVANANTHAPURAM: Activists of officers' and staff unions of State Bank of India, Kerala Circle, protested on Wednesday, alongside their counterparts elsewhere in the country, against the proposed merger of SBI with associate banks. ... More


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