The Hindu Business Line : Thursday, April 06, 2006

RBI announces relief to poultry units
To aid the poultry industry affected by the bird flu, the Reserve Bank of India (RBI) has asked banks to convert principal and interest due on working capital loans to term loans. This will be applicable to instalments and interest due for ... More

INSIGHT

Is it end of the road for community-based banking?
The spirit of grassroots entrepreneurship, which is the basis of the country's growth, must not be snuffed out by software solutions that ignore human judgment, and half-baked policies formulated by the metropolitan elite who know more of Wall Str eet than our own Ranganathan Streets, Brigade Roads, or Ajmal Khan Roads, says R. VAIDYANATHAN. More

FOREX

Rupee unchanged against dollar
The rupee remained almost unchanged against the dollar on Wednesday due to heavy dollar demand by nationalised banks on behalf of the Reserve Bank of India. The domestic currency opened at 44.65/66 and touched an intra-day low of ... More

`Current fiscal gap is too high for rupee float'
Chamber highlights ticklish concerns More

CREDIT POLICY

RBI Governor meets Chidambaram
Ahead of the Credit Policy, the Reserve Bank of India Governor, Dr Y.V. Reddy, on Wednesday met the Finance Minister, Mr P. Chidambaram. The RBI would announce the credit policy on April 18. It is understood that during the ... More

PUBLIC SECTOR BANKS

Not just a PSB
Glamorous campaigns from its competitors in the public and private banking sectors spur SBI to surprise people with one of its own. More

More glamorous too
SBI can cater to the rich too, not just the middle class, is what the campaign seeks to convey. More

BoB upbeat on Rs 1.6 lakh cr biz
Likely to see 37.5 pc growth in credit; 16.5 pc in deposits More

Indian Bank allowed to write off losses
In what would pave the way for an initial public offer (IPO) by Indian Bank, the Union Cabinet on Wednesday gave its nod to write off the bank's accumulated losses of Rs 3,830.14 crore against its capital of Rs 4,573.96 crore. The Cabinet also ... More

FINANCIAL INSTITUTIONS

IRFC raises mandated Rs 3,400 cr
Having raised equivalent of $125 million in Japanese yen recently, Indian Railway Finance Corporation has successfully raised Rs 3,400 crore that was was mandated in fiscal 2005-06. The external commercial borrowing was raised on March 31, for ... More

GOVT BONDS

SEBI clarifies on FII caps in G-Secs
The SEBI has clarified that of the revised $2-billion limit for FII investments in Government securities, $1.75 billion would be allocated to 100 per cent debt FIIs and the remaining to general FIIs and their sub-accounts. For the $1.5-billion ... More

Bond prices firm up
There was a rise in the bond prices due to the substantial improvement in liquidity. Dealers said that the past few days had seen a sustained increase in liquidity bringing comfort to the market. "The announcement of the Rs ... More

CORPORATE BONDS

CBDT guidelines for zero coupon bonds
Recognition for income tax purposes streamlined More

SHORT TERM INSTRUMENTS

Call rate closes at 5.5 pc
The call rate closed at 5.5 per cent (5.75). In the two-day reverse repo, under the liquidity adjustment facility, the RBI accepted 14 bids, amounting to Rs 9,710 crore and one bid for Rs 65 crore in the repo auction. In the second auction, the ... More

MERGERS & ACQUISITIONS

Merges with Saraswat Bank
Saraswat Co-operative Bank said it has merged the troubled Maratha Mandir Co-operative Bank with itself on April 3. Maratha Mandir Bank has 11 branches and one extension counter. All these branches will now operate as Saraswat ... More

TRADE & LABOUR UNIONS

SBI strike: Cos feel the pinch
Talks fail to end deadlock; Delhi HC defers hearing on petition More

Bank union supports SBI strike
The United Forum of Bank Unions, while extending support to the strike call given by the All India State Bank of India Staff Federation and All India State Bank of India Officers' Federation, has clarified that "it would oppose ... More