The Hindu Business Line : Wednesday, May 24, 2006

INSIGHT
CAC needs policy underpinning
The experience of the Southern Cone countries in the late 1970s/early 1980s points to the dangers of moving rapidly towards opening the capital account without a supporting policy matrix. More

Should inflation expectations drive monetary policy?
In recent times, it is not only concurrent inflation data, but also inflation prospects and expectations, which are widely commented upon by central banks, central bankers, economists and analysts. More

FOREX
Rupee gains marginally
Tracking the movement of the equity market, the rupee gained marginally against the US dollar. Trend in stocks had been the major factor affecting the rupee for the last two days, dealers said. On Tuesday, the rupee opened at ... More

FINANCIAL PERFORMANCE
Srei Q4 net up 56%, to pay 16.5%
Plans to operationalise Rs 500-cr Prithvi Fund soon More

LIFE INSURANCE
Max NY Life to cross 1 m policies
Max New York Life is all set to cross one million policies by June, and the company has sold 9.3 lakh policies so far, with the sum assured being Rs 27,000 crore, said Mr Gary Bennett, its CEO and Managing Director. Addressing the press here on ... More

GENERAL INSURANCE
Mediclaim policies: Smooth settlement still far away
CII Coimbatore session with hospitals, TPAs More

Insurers' revenues may drop 40 pc on detariffing
Fire, engineering risk covers to see keen competition More

lAAA rating for ICICI Lombard
ICICI Lombard General Insurance Company Ltd has been assigned IAAA rating by ICRA, an associate of Moody's Investors Service, indicating highest claims paying ability. According to a statement, the company said that this is the ... More

`US insurers adopting new approaches'
Infosys Technologies Ltd has said that a comprehensive study on underwriting in the $222 billion commercial lines insurance industry had revealed that US-based Property and Casualty (P and C) insurers are taking new approaches to risk assessment ... More

DEBT MARKET
Dull day for bond market
In the bond market on Tuesday, prices moved in the 8-12 paise band. Dealers said that the market was dull and volumes low. The cut-off price of the Rs 5,000-crore Government securities auction was in line with expectations."The ... More

PRIVATE BANKS
UTI Bank opens new branch at Edarapalli
UTI Bank has announced the opening of its new branch at Edarapalli in Andhra Pradesh. In a press release here on Tuesday, the bank said its President, Mr Hemant Kaul, inaugurated the branch. The bank currently has a network of ... More

PUBLIC SECTOR BANKS
UCO Bank does away with zonal offices
One tier eliminated on BCG suggestion More

Correction

INTEREST RATES
AP mulls regulation of interest rates charged by MFIs
Plans a cap of around 12 per cent similar to that on private moneylenders More

GOVT BONDS
7.94 pc cut off for 15-year paper
The Reserve Bank of India set 7.94 per cent as the cut off yield for the auction of the Rs 5,000 crore 15-year 2021 government paper. This was a new paper at a uniform price auction. The RBI received 153 competitive bids for Rs ... More

SHORT TERM INSTRUMENTS
Call rate closes at 5.55 pc
The call rate closed at 5.55 per cent (5.5-5.6). In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 32 bids amounting to Rs 37,850 crore and in the second auction 41 bids ... More

ALLIANCES & JOINT VENTURES
Pantaloon, Italian insurer in pact
The Italian insurance major Assicurazioni Generali Group has signed an agreement with Pantaloon Retail for setting up a life and non-life insurance joint venture in India. The new venture will be named `Future Generali' and will be headquartered ... More

CO-OPERATIVES
Co-op bank delegation meets Sonia
Pressure is mounting on the Government to roll back its Budget decision of bringing certain cooperative banks under the tax net. Budget 2006-07 had withdrawn the tax benefits that were available to certain cooperative banks under Section 80 P ... More

Cross Currency Rates