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Wednesday, September 27, 2006
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MONEY & BANKING

SOCIAL SECURITY
LIC micro-insurance scheme for the poor
Launch by Kalam on Sept 28 More

INSIGHT
TARAPORE COMMITTEE REPORT
Exchange control norms need a re-look
Apart from measures for capital account convertibility, the Tarapore Committee II has suggested simplification and liberalisation of facilities in the current account, including the removal of the sub-ceilings on the quantum of remittances ... More

Will charities overtake govts?
It is possible too, that, in due course, the resources and programmes of private charities will overwhelm Governments' budgets. The former will function with greater efficiency and accountability for results. After all, who's in charge in the Gates f oundation? More

FOREX
NRI remittances: Banks told to cut charges
Banks should bring down the cost of NRI remittances by trimming their charges, says a report of a working group constituted by the RBI. "Banks should review their existing scale of charges both at the foreign end and in the domestic centres," ... More

Rupee touches 46
The rupee gained slightly against the dollar on exporter selling while touching 46 during day trade. The rupee opened at around 45.99 and touched 46 on dollar buying. However, it recovered to end at 45.92/93, against the previous ... More

HUMAN RESOURCES
ICICI Bank takes stake in NIIT banking institute
Grooming manpower for financial sector More

PUBLIC SECTOR BANKS
SBI hits Rs 1,000-mark on sustained buying
`Investors are now getting more aware of the sector's potential' More

INTEREST RATES
Interest rates may remain stable, say bank chiefs
Lending rates for Special Economic Zones (SEZ) could move up following the recent RBI guidelines on capping real estate exposures, said Mr T.S. Bhattacharya, Managing Director, State Bank of India. Interest rates may soften for other players, ... More

GOVT BONDS
Bond prices gain 35 paise
Bond prices rose by 35 paise reacting to the RBI announcement of the auction calendar for Government securities. Dealers see a positive in the auctions being evenly spread over the rest of the fiscal. "Usually, a major part of ... More

SHORT TERM INSTRUMENTS
Call steady at 6.40%
Call closed at 6.40 per cent (6.40-6.50). In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 4 bids amounting to Rs 5,640 crore and in the second one-day reverse repo auction, 16 ... More

MERGERS & ACQUISITIONS
UWB seeks RBI clarification
The United Western Bank's board, which met on Tuesday, will submit its suggestions on the draft scheme of amalgamation with IDBI Ltd to the Reserve Bank of India, according to a BSE notice. While the bank officials declined to comment, sources ... More

ALLIANCES & JOINT VENTURES
L&T, Citi consortium ink finance pact
L&T and a Citigroup-led consortium of banks signed a financing arrangement for US dollar equivalent of Rs 500 crore through a mix of FCNR and ECB funds to finance L&T's Palanpur-Swaroopganj road project. L&T Interstate Road Corridor Ltd More

OUTLOOK
RBI may extend Basel II deadline: Leeladhar
The Reserve Bank of India could relax the deadline for banks to comply with Basel II norms, expected to be finalised in a couple of weeks, according to Mr V. Leeladhar, Deputy Governor, RBI. Speaking at the sidelines of a seminar organised by ... More

PEOPLE
New GM, SBI Chennai Circle
Mr Anoop K. Prabhakar has assumed charge as General Manager (Network 2), Chennai Circle of the State Bank of India. He was earlier Deputy General Manager (BPR), Corporate Centre, Mumbai, SBI. ... More






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Top Stories
BSNL net dips 12 pc

After code writers, Google turns to wordmasters

Interest rates may remain stable, say bank chiefs

Natural gas futures turn risky proposition

No immediate cut in petroproduct prices: Deora

`No plans for sugar decontrol'

Oil marketing cos may end Q2 with higher loss

Bengal to hand over land to Tatas

`Blank cheque companies' enter India

Looking back
Sep. 17-Sep. 23
No UWB impact on IDBI rating

RBI panel begins monitoring

GIC eyes expansion in reinsuring energy risks

PSBs liquidating non-SLR investments

Insurers drop demand to cap motor cover liabilities

RBI move to curb bank lending to SEZs

Bond prices fall 40 paise

Penalty issue in repayment of loans by cash

PSU insurers ride equity boom to beef up capital

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