The Hindu Business Line : Thursday, January 12, 2006

Infosys to review hedging policy — `Rupee volatility very high this quarter, we have to be slightly more active'
STUNG by the impact of the rupee volatility, Infosys may review its hedging policy. The company has hedged $300 million by taking range-bound options and has marked them to the market, said Mr T.V. Mohandas Pai, Chief Financial Officer. "We ... More

LIFE INSURANCE

`Simply Life' from Birla Sun's stable
BIRLA Sun Life Insurance (BSLI) has launched an endowment plan called `Simply Life.' The company, which hopes to mop up more than Rs 1,000 crore of new business premium this fiscal, will be launching more products in the individual and group ... More

GENERAL INSURANCE

Royal Sundaram takes Rs 9-cr hit due to floods
ROYAL Sundaram General Insurance Company hopes to mop up Rs 450 crore of new business premium by the end of the current fiscal, up from Rs 331 crore in the previous year. Mr Antony Jacob, Managing Director, Royal Sundaram Alliance Insurance ... More

Thermal imaging to mitigate fire risks
CHOLAMANDALAM MS Risk Services Ltd, a Chennai-based joint venture between the Murugappa group and Mitsui Sumitomo of Japan, has introduced a product to mitigate fire risks, using a Rs 40-lakh thermal imaging camera. The camera can detect ... More

Concern over insurance scheme for BPL families in Kerala
THE General Insurance Officers All India Association (GIOAIA) has expressed concern over the implementation of a new health insurance scheme for BPL families in Kerala. Mr P.P. Mohanan, State General Secretary of the association, asked whether ... More

HUMAN RESOURCES

ICICI Bank to hire 10,000 more this year — Retail growth drives recruitment drive
ICICI Bank is recruiting nearly 10,000 people this year. The bank will be adding almost half the workforce that it had as of March 2005. The new additions will take its headcount to about 25,000, almost thrice the size that the bank had three and ... More

PUBLIC SECTOR BANKS

Dena Bank ropes in staff to grow biz
The management and staff members of Dena Bank have reached an agreement to promote new business. Under this agreement each staff members will canvas for five new savings bank accounts and one current account every week and meet at least five ... More

FINANCIAL INSTITUTIONS

Exim Bank signs record 16 lines of credit this year
EXPORT Import Bank of India (Exim Bank) has signed the maximum lines of credit (LoC) this year, numbering 16 and totalling Rs 2,295 cr. This is against the Rs 1,000 crore sanctioned during the previous fiscal, the bank's General Manager, Mr ... More

Bids for MUL stake: Banks, FIs take cautious approach
THE deadline for putting in bids by banks and financial institutions for an 8 per cent stake in Maruti Udyog Ltd (MUL) being divested by the Government ended on Wednesday, with most institutional investors understood to have taken a cautious ... More

GOVT BONDS

Bank investments in G-secs less than 35% of deposits
BANKS have pushed down their Government security investments to less than 35 per cent of their deposits in a bid to boost earnings. Bankers said most of them were bringing down their average investment-deposit ratio as close as possible to the ... More

INTERVIEW

IOB bullish with representative office in Kuala Lumpur
INDIAN Overseas Bank (IOB) has opened a Representative Office in Kuala Lumpur. In an interview to Business Line in Singapore, the IOB Executive Director, Mr A.R. Nagappan, said the office could help accelerate the bank's Singapore ... More

PUBLIC OFFER

`Union Bank 2nd public offer before March'
WITH several banks recording over 30 per cent growth in credit as against less than 20 per cent growth in deposits, there could be a temporary asset-liability mismatch in the banking industry. But as most banks have parked substantial amounts ... More

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