The Hindu Business Line : Tuesday, October 11, 2005

Rupee sheds 35 paise; bonds dip in tandem
MUMBAI: The rupee fell by 35 paise on Monday to touch another 10-month low on strong dollar demand and lack of support from the Reserve Bank of India. There was also demand for the greenback in the non-deliverable forward market, as ... More

MUTUAL FUNDS

Canbank AMC finalises terms to buy GIC Mutual
CANBANK Investment Management Services Ltd (CIMS), the asset management company of Canbank Mutual Fund, has finalised the terms for taking over GIC Mutual Fund. Speaking today at the launch of CanInfrastructure Fund, Mr N.R. Ramanujam, ... More

FINANCIAL PERFORMANCE

Other income helps YES Bank post Rs 14-cr net in Q2
YES Bank has posted a net profit of Rs 14.25 crore for the quarter ended September 30, against a loss of Rs 1.74 crore in the corresponding quarter last year largely due to a significant rise in other income. Total income was Rs 58.82 crore ... More

HOUSING FINANCE

NHB refinance package for bank loans to J&K quake victims
THE National Housing Bank (NHB) has announced a Rs100-crore concessional refinance scheme for Jammu & Kashmir in the wake of the devastation caused by the recent earthquake. The refinance scheme would be to provide assistance through scheduled .. More

RBI & OTHER CENTRAL BANKS

Banks allowed to treat balance in IFR as tier-I capital
IN a bid to help banks to meet capital adequacy as per Basel II norms, the Reserve Bank of India has allowed them to treat the entire balance of securities in their investment fluctuation accounts (IFR) as Tier-I capital. So far, banks were ... More

PUBLIC SECTOR BANKS

SBI festive offer
STATE Bank of India has reduced interest rates on various loans as part of Dasara-Deepavali festive offer. Addressing presspersons here on Monday, Dr V. Eswaran, Assistant General Manager and Regional Manager of Mangalore office, said that ... More

Corporation Bank branch
VISAKHAPATNAM: Corporation Bank is introducing several new products and improving the customer service during the current centenary year, Mr U.B Bhat, General Manager, CAPS, has said. He was speaking at a press meet here on Monday after ... More

CREDIT MARKET

Lending against commodities — Indian Bank ties up with NCMSL
INDIAN Bank expects to generate Rs 150 crore to Rs 200 crore of loan assets by lending against commodities — an activity that the bank has started recently. A key issue in lending with commodities as security is the assessment of the ... More

FIXED DEPOSITS

TMB increases FCNR, NRE rates
THE Tuticorin-based Tamlinad Mercantile Bank has increased the interest rates for FCNR (B) term deposits with effect from October 1. It has introduced the interest rates for a period above three years and up to a maximum maturity of five years. ... More

MERGERS & ACQUISITIONS

LIC in fray for taking over IFCI
The Life Insurance Corporation of India (LIC) is emerging as the dark horse that could give serious challenge to IDBI Ltd in acquiring the oldest development financial institution in the country. LIC has been figuring prominently in official ... More

REGULATORY BODIES & RULINGS

IRDA beefing up inspection
Inspections conducted by IRDA check on compliance with guidelines such as solvency margins, breach of tariffs, claim payment procedures, commission payments, agency norms and redress of grievances. The regulator is also concerned about the quality of training for agents. More

TRADE & LABOUR UNIONS

Insurance unions cry fowl over US envoy's remarks
INSURANCE unions have criticised the American Ambassador, Mr David Mulford's statement that the "delay in raising the cap on foreign investment from 26 per cent was being viewed by investors as a "breach of faith". Mr N.M. Sundaram, President, ... More

EVENTS

AIBOC panel holds sitting in Chennai
CHENNAI: The Independent Commission on Banking and Financial Policy, formed at the initiative of the All India Bank Officers' Confederation (AIBOC), held its 4th sitting on Monday at Chennai. The commission heard representatives of the ... More

Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line