The Hindu Business Line : Wednesday, June 28, 2006

FOREX
Rupee rises marginally to 46.34/36
The rupee crept up to 46.34/36 on Tuesday, on account of dollar selling by exporters. Domestic currency opened at 46.36/38 and ended at 46.34/36, higher than Monday's close at 46.38. Dealers said that exporters were selling ... More

FINANCIAL PERFORMANCE
Lord Krishna Bank posts Rs 3.68 cr net
Lord Krishna Bank has posted a net profit of Rs 3.68 crore for the financial year 2005-06, as against the net loss of Rs 24.41 crore posted in the previous year. The bank could post a profit this year as the high interest volatility in the G-Sec ... More

LIFE INSURANCE
Kotak Life raises capital base
Kotak Life Insurance has increased its share capital by Rs 20 crore to Rs 317 crore.The promoters, Kotak Mahindra Bank and Old Mutual, have infused additional funds as per their shareholding in the joint venture. "The infused ... More

GENERAL INSURANCE
General insurers pitching hard for Infosys policy
Tread cautiously on liabilities cover; may seek higher premium More

Howden India finds takers for M&A insurance
Sees IT, auto, pharma sectors as potential customers More

Star Health targets Rs 80-cr premium in maiden year
Star Health and Allied Insurance Company is confident of securing Rs 80-crore premium income in its first year of operations. Within 45 days of operation, the company has opened 57 offices and plans 28 more before the middle of next month. ... More

FINANCIAL POLICY
Fed's anti-inflation rhetoric hits metals hard
Growth expected to be resilient in second half this year More

DEBT MARKET
Bond prices edge up; volumes low
Negative sentiments continued to rule the bond market due to fears of a rate hike by the US Fed on June 29, a likely increase in domestic interest rates by the Reserve Bank of India and inflation heading northward. There was ... More

PRIVATE BANKS
Karnataka Bank opens new branches
Karnataka Bank Ltd has opened its 397th and 398th branches at Guwahati in Assam and at Rash Bihari Avenue in Kolkata, respectively. A bank release said here on Tuesday that Mr Ravindra Nath Mathur, Director General of Civil ... More

SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates remained unchanged between 5.75 and 5.85 per cent. In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 23 bids amounting to Rs 17,580 crore and in the second one-day ... More

FIXED DEPOSITS
YES Bank FD to offer 8 pc
YES Bank has launched a fixed deposit that offers an interest rate of 8 per cent per annum for a period of 10 months and one day. The minimum amount is Rs 10,000 and the maximum amount is Rs 1 crore. The scheme will be available from June 28, ... More

ALLIANCES & JOINT VENTURES
SBI, Nafed sign MoU
State Bank of India (SBI) and National Agricultural Cooperative Marketing Federation of India Ltd (Nafed) have entered into an agreement to finance farmers for cultivation of various crops like soyabean, paddy, jute and potato. A memorandum of ... More

StanChart MF ties up with IOB
Standard Chartered Mutual Fund has tied up with Indian Overseas Bank for the distribution of its schemes, an official statement said. Mr Naval Bir Kumar, Director of Standard Chartered AMC, said: "This partnership with IOB will ... More

UTI MF in tie- up with Central Bank
UTI Mutual Fund and Central Bank of India have entered into a tie-up for distribution of UTI Mutual Fund schemes.Under the agreement, Central Bank of India will distribute the entire bouquet of UTI MF's schemes across the bank's ... More

ECONOMIC OFFENCES
HSBC data theft accused nabbed in Bangalore
Total loss estimated at over Rs 1.75 crore More

PEOPLE
Credit Suisse pvt banking unit head
Credit Suisse Bank has announced the appointment of Mr Bruno Daher as Head of Private Banking for the West Asian and the Indian sub-continent, according to a company release. The release stated that Mr Daher will join the bank with effect from ... More