The Hindu Business Line : Thursday, August 18, 2005

Rupee steady; securities rise
MUMBAI: The rupee was range-bound against the dollar on Wednesday as demand matched supply. The rupee opened at 43.54/55 and ended trade at similar levels. On Tuesday, the currency had closed at 43.53. Strong inflows into the stock ... More

NBFCS

Ujjivan Financial gets funding from Bellwether
UJJIVAN Financial Services, a newly formed non-banking finance company with a focus on micro-finance institutions, has received Rs 70 lakh as equity from Bellwether Microfinance Fund. The fund is supported by Gray Ghost Microfinance Fund of the ... More

LIFE INSURANCE

Kotak Mahindra OM Life to focus on semi-urban areas
KOTAK Mahindra Old Mutual Life Insurance will be expanding in semi-urban and rural areas this fiscal, Mr Gaurang Shah, Managing Director, told Business Line. The company, which derives 65 per cent of its business from unit-linked ... More

LIC premium by regional unit
HYDERABAD: The South Central Region of the Life Insurance Corporation of India, Hyderabad has collected first premium of Rs 40,954.10 lakh from 8,69,989 policies till the end of July 2005, during the financial year 2005-06. In policy ... More

GENERAL INSURANCE

Private non-life players' market pie up at 35 pc
THE private sector non-life insurance players have proved that their inferior size, infrastructure and relatively low capital structure were no bar to competing in the market place to gain consumer acceptance. In fact, they gave a tough fight to ... More

`Catch 'em young to improve health insurance portfolios'
INSURANCE companies are making losses in their health portfolios because they are not able to "catch people young" and the average age of the insured is 55, Mr B. Chakrabarti, Chairman and Managing Director, Mr B. Chakrabarti, National Insurance ... More

FINANCIAL POLICY

Decks cleared for tax waiver on IMD interest income
THE decks have been cleared for granting tax exemption to income earned by way of interest on the India Millennium Deposits (IMD) that were issued by the State Bank of India. The Centre, through the Revenue Department, has now specified IMD as ... More

PUBLIC SECTOR BANKS

Corpn Bank's donation for flood-hit States
CONSIDERING the large-scale devastation caused by floods in Maharashtra and Karnataka, Corporation Bank has donated Rs 1 crore and Rs 50 lakh to the Maharashtra Chief Minister's Relief Fund (Natural Calamities) and the Karnataka Chief Minister's ... More

SBI opens RBO in Thrissur
KOCHI: The State Bank of India (SBI), as part of its latest business processing re-engineering initiatives, has opened its Regional Business Office (RBO) at Thrissur, Kerala, on Wednesday. Inaugurating the RBO, Ms Radha Unni, General ... More

FINANCIAL INSTITUTIONS

GTF eyes 50% growth in turnover
In the current fiscal, GTF is planning to issue bonds worth Rs 50-75 crore of 5-6 years tenure to shore up its Tier-II capital. "Once we raise our core capital, our borrowing can go up to Rs 800 crore," Mr Sonmale said. More

CREDIT MARKET

`Increase rural banks operations'
HYDERABAD: The State Minister for Finance and health, Mr K. Rosaiah, has asked banks to increase their operations in rural areas and protect the financial interests of the rural poor. This will shield them from bogus chit fund ... More

SHORT TERM INSTRUMENTS

T-Bills auction fully subscribed
THE auctions of the 91-day and 364-day treasury bills were fully subscribed, according to a press release from the RBI. The notified amount for both T-bills was Rs 2,000 crore. For the 91-day T-bills, the RBI received 60 bids amounting to ... More

FIXED DEPOSITS

Andhra Bank plans to mop up Rs 200 cr in Vizag, E Godavari
ANDHRA Bank plans to mobilise deposits of Rs 200 crore in East Godavari and Visakhapatnam zones during the month-long Deposit Utsav which began on Wednesday. Mr K. Suryanarayana, Deputy General Manager at Visakhapatnam, said at a press meet ... More

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