The Hindu Business Line : Tuesday, October 10, 2006

AWARDS & HONOURS
PNB bags excellence award
Punjab National Bank (PNB) has been awarded the national award (1st prize) for excellence in lending to tiny sector. The Union Defence Minister, Mr Pranab Mukherjee, presented the award to Mr S.C. Gupta, Chairman and Managing ... More

FOREX
Rupee down 13 paise
A strong dollar pulled the rupee down on Monday by about 13 paise from Friday's close. The dollar gained against all global currencies, especially the yen, after North Korea successfully completed a nuclear test, said dealers. ... More

INSURANCE
`Insurers must focus on long-term products'
Insurance companies should sell more long-term products than short-term policies, according to Mr C.S. Rao, Chairman of Insurance Regulatory and Development Authority (IRDA). Traditional insurance or pure protection products, which have a term ... More

NBFCS
Rabo India to hike tier-I capital
Rabo India Finance Private Ltd is to increase its tier-I capital by Rs 145 crore. "This capital infusion will increase the capital funds from Rs 427.93 crore (as on March 31, 2006) to Rs 578.51 crore (includes reserves and ... More

HOUSING FINANCE
Cops on home loan trail!
Simple precaution for bankers: Register mortgage More

GENDER
At ICICI Bank, merit counts, not gender
Do not do anything special for women," said Ms Chanda Kochhar, Deputy Managing Director, ICICI Bank Ltd. Addressing a Confederation of India Industry (CII) workshop on gender equality at the workplace, Ms Kochhar said there should not be any ... More

FINANCIAL POLICY
Kerala Govt to amend Moneylenders Act
Legislation to curb plastic bags soon More

PUBLIC SECTOR BANKS
Corp Bank begins gold coins sale
Making gold purchase convenient for the households, Corporation Bank has announced the launch of retail sale of gold coins here on Monday. The bank's Zonal Manager, Mr B. Lakshminarayana, launched the gold coins in denominations of two, five, ... More

FINANCIAL INSTITUTIONS
AI secures $1.3-b US Exim loan
Air India Express to get first aircraft through the deal next month More

India extends $10 m line of credit to African bank
The Exim Bank of India has extended a fresh line of credit of $ 10 million to the PTA Bank in Africa, according to an agreement signed during the Conclave on India-Africa Project Partnership, organised by the Confederation of Indian Industry on ... More

GOVT BONDS
Bond prices fall 30 paise
Bond prices dropped tracking high US yields. Traded volumes on the order-matching system were Rs 2,710 crore (Rs 3,280 crore). Dealers said prices opened lower, tracking the rise in US T-Bill yields last Friday. Later in the day, there was buying ... More

RBI securities sale
The Reserve Bank of India announced the reissue of the 10-year benchmark 7.59 per cent 2016 Government security for Rs 6,000 crore and the 8.33 per cent 2036 paper for Rs 3,000 crore on October 13. The auctions will be conducted ... More

CORPORATE BONDS
Trading in corporate bonds: RBI upsets SEBI plans
Seeks separate platform for banks and FIs More

SHORT TERM INSTRUMENTS
Call rates dip marginally
Call rates were between 6.35 and 6.45 per cent against 6.4-6.5 per cent. In the first one-day reverse repo auction under LAF, RBIreceived and accepted seven bids amounting to Rs. 17,100 crore and in the second one-day reverse ... More

MERGERS & ACQUISITIONS
Cosmos Co-op eyes more takeovers
With the acquisition of the two Ahmedabad-based banks - Unatti Co-operative Bank and the Bank of Ahmedabad - the Pune head-quartered Cosmos Co-operative Bank is now eyeing a Hyderabad-based bank and another Ahmedabad-based bank. Speaking ... More

E*Trade open offer to IL&FS Investsmart
E*Trade Financial plans to acquire up to 1,38,64,082 equity shares of Rs 10 each representing emerging voting capital of IL&FS Investsmart at Rs 210 per share. The offer will increase its fully paid-up voting capital in Investsmart to 27.87 per . More