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Tuesday, March 28, 2006
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INSIGHT


BUDGET 2006
Foundations for castles
House building has become the most vibrant activity among the middle-class of the 21st century. Ample tax-breaks with access to cheap bank loans, minimum pre-conditions and paper work have laid the foundation for a housing boom. Bank loans for bui lding houses more than doubled in just a year; they have now outpaced total direct agricultural credit. More

FOREX


Rupee closes weaker
The rupee was weak against the US currency on Monday on sustained dollar buying by State-run banks on behalf of the Reserva Bank of India and oil companies, but ended nearly unchanged. The rupee opened at 44.57 and ended at 44.67 ... More

NBFCS


MD's relatives sell 1.90% stake in Bajaj Auto Finance
Bajaj Auto Finance Ltd has informed the Bombay Stock Exchange that the company has received disclosure from Mr Dipak Poddar, Managing Director of the company, that his relatives have sold four lakh shares in the company aggregating to 1.90 per ... More

Nidhis may be allowed fee-based activities
Company Affairs Ministry accepts Rao panel recommendations More

HOUSING FINANCE


Loan options galore
For home buyers, property acquisition provides both tax relief and safe investment More

Dewan Housing shareholders okay pref issue
Convertible warrants to Wadhawan Holding at Rs 75 More

LIFE INSURANCE


Bajaj Allianz Life infuses more capital
Bajaj Allianz Life has infused capital of Rs 132 crore, taking its total capital base to Rs 500 crore. Mr Sam Ghosh, Country Manager, Allianz and Chief Executive Officer, Bajaj Allianz Life Insurance Company, said, "With this infusion of ... More

FINANCIAL POLICY


RBI eases overseas investment norms
Guarantees, disinvestment More

DERIVATIVES MARKETS


DGCX plans to introduce currency futures
The Dubai Gold and Commodities Exchange (DGCX) on Monday announced that the Emirates Securities and Commodities Authority (ESCA) has approved its application for launching currency futures trading. Initially DGCX will trade futures contracts in ... More

PRIVATE BANKS


Centurion Bank share sale fetches Rs 98 cr
Gains to be used to strengthen its balance-sheet More

GOVT BONDS


Prices fall in bond market
In the bond market, prices fell in response to the statements made by the Deputy Governor of the RBI. Dealers said that Mr Rakesh Mohan's statement that credit growth at the current rate could raise liquidity management problems ... More

CORPORATE BONDS


Corpn Bank tier II bonds
Corporation Bank has opened an issue of unsecured, redeemable, non-convertible, non-cumulative subordinated Tier IIbonds of Rs 300 crore on private placement, according to a bank release here. The release said on Monday that the objective is ... More

SHORT TERM INSTRUMENTS


Call rate closes at 6-6.25 pc
The call rate closed at 6-6.25 per cent (6.6-6.8). There was significant improvement in liquidity, as expenditure of the the government is believed to be entering the system. In the one-day repo, under the liquidity adjustment ... More

TRADE & LABOUR UNIONS


PSU general insurance staff referendum
The referendum (check-off) among the employees of public sector general insurance companies will take place on April 18 all over the country. The associations/unions getting 20 per cent votes of the employees in each category (Class 1,II, III ... More

ALLIANCES & JOINT VENTURES


IndusInd ties up with UAE bank
Strategic partner route preferred for growth in key locations More

Bajaj Allianz General, Kalupur co-op in pact
Bajaj Allianz General Insurance Ltd and Kalupur Commercial Co-operative Bank, a leading urban co-operative bank in Gujarat, have announced a bancassurance deal. As per the memorandum of understanding signed between the two companies, Kalupur ... More

PEOPLE


Oriental Bank gets new ED
Oriental Bank of Commerce (OBC) has a new executive director in Mr Allen C.A. Pereira. Prior to joining OBC, Mr Pereira headed Delhi Zone of Syndicate Bank. He was General Manager (Personnel & Services) with Syndicate Bank before joining OBC. .. More

New ED for Andhra Bank
Mr Kalyan Mukherjee has taken charge as the Executive Director of Andhra Bank here on Monday. Mr Mukherjee, who was earlier General Manager of the UCO Bank, has 37 years of banking experience, including 10 years abroad. A HR specialist, Mr ... More




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