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Thursday, March 30, 2006
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New India seeks overseas reinsurance partner
By tying up with an international reinsurer, it hopes to diversify the mediclaim protfolio risk and gain expertise in designing products. In talks with Munich Re for mediclaim portfolio? More

Insurance union protests TN move
The General Insurance Officers All India Association (GIOAIA) has protested against the Tamil Nadu Government's decision to blacklist United India Insurance Company. Mr P.P. Mohanan, Kerala State General Secretary of the ... More


Poultry sector relieved over Centre's measures
But more steps such as free grains sought More


Synechron expands KPO offerings
Synechron, provider of application development and IT consulting solutions today announced the expansion of its high-end specialised mortgage banking knowledge process outsourcing (KPO) division. Talking to presspersons over ... More


Whither transparency?
Large government balances with the RBI, quietly allowing sub-accounts and participatory notes to ensure continued FII flows and directional shifts in the liquidity, are recent developments on which there has been only silence. The Reserve Bank of India needs to re-examine the framework and the institutional processes of policy-making. More

Revisit with open mind
Convertibility has to be weighed on the scales of continued financial stability and solvency, and accrual of overriding benefits to the economy in comparison with the disabilities consequent on deferring it. Thus, the move should be thought of only i f it enables the economy take a quantum leap and join the big league, says B. S. RAGHAVAN. More


Rupee weakens on month-end buying
The rupee weakened on Wednesday as the Reserve Bank of India bought dollars. Month-end buying by oil companies also drove the rupee down. The rupee opened at 44.72/73 and touched a high of 44.5250/6350 on good inflows. But due ... More


Indian Bank sells priority sector loans, raises Rs 550 cr
Indian Bank has raised Rs 550 crore by selling off a part of its priority sector loans to other banks, in what is called `inter-bank participation' deal, highly placed sources in the bank told Business Line. Under the deal, Indian Bank ... More


Securities decline
In the bond market, prices fell in reaction to `hawkish' statements made by the US Fed chief on Tuesday. The traded volume was around Rs 1,200 crore and prices fell by around 40 paise. A dealer at a private bank said that the US ... More


`Firmer rates won't hit credit disbursements'
Heavy demand for funds from across sectors, says Union Bank chief More


Call rate closes at 6-6.2 pc
The call rate closed at 6-6.2 per cent (5.8-6 per cent). In the two-day reverse repo, under the liquidity adjustment facility, the RBI accepted one bid, amounting to Rs 55 crore. In the second auction, the central bank accepted ... More


Banks raise FCNR (B) deposit rates
Bank of Baroda and HDFC Bank are among the first to raise interest rates on FCNR deposits after the Reserve Bank of India increased the interest rate ceiling by 25 basis points. Now banks can offer up to LIBOR/ Swap rate as against the earlier ... More

Central Bank hikes term deposit rates
Central Bank of India has hiked interest rates on domestic term deposits for various maturity periods by 25 to 50 basis points with effect from April 1. The rates on deposits of 45-90 days have been hiked to 5 per cent (4.75 per cent), on ... More


`Interest rates are rising as there is no surplus liquidity'


Swarnkar is CMD, Syndicate Bank
The Government has appointed Mr C.P. Swarnkar, Executive Director of Punjab National Bank (PNB), as Chairman and Managing Director of Syndicate Bank. Mr Swarnkar started his banking career with PNB as a probationary officer. He became a General ... More

SC Gupta is IBA Deputy Chairman
Mr S.C. Gupta, Chairman and Managing Director, Punjab National Bank, has been appointed as Deputy Chairman of Indian Banks' Association. Mr Gupta started his banking career with State Bank of India in 1966. He has also worked in ... More

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