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Thursday, April 27, 2006
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MONEY & BANKING

GENERAL INSURANCE


Students going abroad can get medical cover here `at better rates'
Insurers tie up with travel agents, counsellors, banks, money changers More

INSIGHT


The Monetary Policy pause...
... And the contrarian Governor

Against all expectations, the Governor did not raise rates. But the contrarian approach runs the risk of market men playing games to counter the effects of the Monetary Policy. More

FOREX


Rupee weakens
The rupee weakened against the US dollar on Wednesday as state-run banks and oil companies bought dollars. After staying away from the market for a few days, the central bank was once again seen trying to prop up the dollar, said ... More

FINANCIAL PERFORMANCE


Corporation Bank Q4 net dips 6.8 pc
Rise in cost of funds one of the reasons More

P&S Bank records turnaround
Punjab & Sind bank has recorded a turnaround in the financial performance for the fiscal year 2005-06 to report a net profit of Rs 108.32 crore as against a net loss of Rs 71.06 crore recorded during fiscal 2004-05. A release issued by the bank . More

LIFE INSURANCE


LIC jubilee fete
EXPO ON WHEELS: The Minister of State for Finance, Mr Pawan Kumar Bansal (right), and the LIC Chiarman, Mr A. K. Shukla, at the inauguration of 'LIC Zindagi Express'. an exhibition on wheels to mark the corporations's Golden Jubilee Year ... More

PRIVATE BANKS


RBI slaps Rs 5 lakh fine on TMB
The Reserve Bank of India has imposed a penalty of Rs 5 lakh on Tamilnad Mercantile Bank Ltd for violation of RBI regulations in not ensuring end-use of bank's funds lent to various borrowers. A press release from the RBI says that the ... More

PUBLIC SECTOR BANKS


Corporation Bank to focus on retail portfolio
The net NPA of Corporation Bank dropped to 1.08 per cent from 1.44 per cent. The bank made a cash recovery of Rs 171 crore during the year as against Rs 148 crore in the previous year. The gross NPA has come down to Rs 626 crore (Rs 647 crore) ... More

Bank of India ATMs in Vizag
Bank of India is planning to set up two more ATMs here - one at the RTC complex and the other at Gajuwaka - in addition to the existing one. According to a press release issued by Mr D.V.S.K Murthy, Assistant General ... More

FII limit reached in Andhra Bank
FIIs, NRIs, and persons of Indian origin cannot purchase shares of Andhra Bank under the portfolio investment scheme without prior permission of the Reserve Bank of India. In a release, the central bank said that FII investment ... More

GOVT BONDS


Bond prices decline
Bond prices fell due to a rise in US Treasury yields. Dealers said that traders in the Indian bond market started selling in reaction to the hardening of US Treasury yields to 5.09 per cent. "The higher inflation expectations ... More

SHORT TERM INSTRUMENTS


Call rate closes at 5.55%
The call rate closed at 5.55 per cent (5.5-5.6). In the first one-day reverse repo auction under LAF, the RBI received and accepted 34 bids amounting to Rs 33,650 crore and 38 bids for Rs 29,875 crore in the second auction. There ... More

PEOPLE


Om Bhatt is SBI's new MD
Mr Om Bhatt, Managing Director, State Bank of Travancore (SBT), has been appointed as Managing Director of the parent bank, State Bank of India (SBI). Announcing this, an SBT spokesman said here that Mr Bhatt started his career ... More
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