The Hindu Business Line : Wednesday, June 21, 2006

FOREX
Rupee dips slightly
The rupee dipped slightly against the dollar, tracking the movement of the Japanese yen. The domestic currency opened at 45.88 and depreciated to close at 45.95, lower than Monday's 45.93. Dealers said that statements by the ... More

INFORMATION TECHNOLOGY
Union Bank, SBI to share ATMs
Union Bank of India has signed an agreement with State Bank of India for bilateral sharing arrangement of ATMs. Customers of both the banks would be able to use the ATM machines of each bank, said a press release. Union Bank and ... More

CONSUMER FINANCE
Muthoot scheme for Suzuki bikes
Muthoot Leasing and Finance Ltd, a division of Muthoot Group, in association with Manikantan Suzuki is launching a unique monsoon bonanza scheme to promote the newly released bikes from Suzuki Motors, Heat and Zeus. This scheme ... More

LIFE INSURANCE
SBI Life declares bonus
SBI Life Insurance has announced nine per cent return on lifelong pensions scheme, a simple annual bonus of five per cent plus the guaranteed return of four per cent per annum for all policies in force as on March 31, 2006. According to a press ... More

GENERAL INSURANCE
Royal Sundaram in pact with ING Vysya Bank
Royal Sundaram Alliance Insurance Company Ltd has entered into a corporate agency agreement with ING Vysya Bank for distribution of general insurance products. According to a statement, Mr Antony Jacob, Managing Director of Royal Sundaram, ... More

Mumbai floods weigh on Oriental Insurance net
Underwriting losses offset by higher investment gains More

PRIVATE BANKS
City Union Bank to branch out further
City Union Bank is looking at opening branches in Maharashtra, Gujarat and Punjab. The bank is investing about Rs 20 lakh to add 24 branches to end March 2007 with 170 branches. ATMs will be set up at existing branches. The bank will introduce ... More

PUBLIC SECTOR BANKS
Allahabad Bank: cost disadvantage
Allahabad Bank is said to be decelerating in recent days, given concerns stemming from factors such as decline in treasury income and increasing cost of deposits. The stock on Tuesday ended at Rs 73.10 on the NSE, a marginal increase of 1.95 per ... More

FINANCIAL INSTITUTIONS
IDBI plans e-auction of Chennai property
Over 1,00,000 sq ft on upmarket Boat Club Road More

INTEREST RATES
No plans to hike PLR: SBI chief
Despite rising cost of funds, State Bank of India has no immediate plans for hiking its benchmark prime lending rates. Speaking to Presspersons here on Tuesday, SBI's Acting Chairman, Mr T. S.Bhattacharya, said, "We don't see any need to hike ... More

GOVT BONDS
Bond trading lacklustre
In the bond market, there was no buying interest and sentiment was lacklustre following Monday's crash in prices. Dealers said that traded volumes were not more than Rs 250 crore. Primary dealers sold long dated securities ... More

SHORT TERM INSTRUMENTS
Call rates flat
Call rates remained unchanged between 5.75 per cent and 5.85 per cent. In the first one-day reverse repo auction under LAF, Reserve Bank of India received and accepted 29 bids amounting to Rs 22,465 crore and in the second ... More

FIXED DEPOSITS
Andhra Bank to offer long-term deposit plans
It's time for reinventing the wheel at Andhra Bank. To make its products and services more attractive to customers, the bank management has decided to do this exercise at regular intervals. The bank has also decided to come out with new ... More

MERGERS & ACQUISITIONS
Corporation Bank to run Oman exchange company
Talks on with Qatar exchange co too More

PEOPLE
Anantakrishna gets three year extension
The Chairman and Chief Executive Officer of Karnataka Bank Ltd, Mr Anantakrishna, who will be completing six years in office, has got extension of term for three more years effective from July 13. This will be the third term for Mr Anantakrishna. ... More