The Hindu Business Line : Tuesday, October 17, 2006

FOREX
Rupee gains on strong FII inflows
The rupee gained slightly against the dollar on strong FII inflows on Monday. The domestic currency opened at 45.47 and ended the day at 45.43 against Friday's close of 45.44. "The buoyant stock market has aided the rupee in ... More

FINANCIAL PERFORMANCE
JM Financial Q2 net up
JM Financial has reported an increase of 39.16 per cent in net profit for the quarter ended September 30, over the corresponding quarter previous year. The net profit stood at Rs 3.59 crore (Rs 2.58 crore). "The rise in Q2 net has been ... More

GENERAL INSURANCE
New IRDA norms for non-life covers
No frequent changes in approved products, insurers told More

PRIVATE BANKS
Mammootty is South Indian Bank brand ambassador
South Indian Bank on Monday signed cinema star and best actor award winner Mammootty as its brand ambassador. Announcing this at a function here, Mr V.A. Joseph, Chairman and CEO of the bank, said that Mammootty is a very popular actor not ... More

PUBLIC SECTOR BANKS
Union Bank to sell gold coins
Union Bank of India on Monday launched sale of gold coins in the denominations of 5 gm, 8 gm and 10 gm of 99.99 per cent purity. The gold coins are available in tamper-proof packing with serial number and certification, said a ... More

FOREIGN BANKS
BNP Paribas to hike capital base
The BNP Paribas Group will infuse about Rs 290 crore into its Indian operations, raising the capital base to about Rs 1,000 crore. "With our increased equity base, we will be better placed to support our corporate clients and scale up our ... More

FINANCIAL INSTITUTIONS
IIFC, 3 public sector banks to co-fund infrastructure projects
India Infrastructure Finance Company and the three public sector commercial banks - Indian Bank, Oriental Bank of Commerce and Corporation Bank - on Tuesday signed a MoU to jointly undertake financing of infrastructure ... More

INTEREST RATES
Bank of Rajasthan hikes deposit rates
With effect from October 16, the Bank of Rajasthan has increased the interest rate on term deposits by about 25 basis points. The interest rate on 61-90 days deposits has been marked up from 5.50 per cent to 5.75 per cent. On ... More

GOVT BONDS
First tranche of oil bonds worth Rs 5,000 cr issued
To carry 8.13 pc coupon rate and 15-year tenure More

Govt issues bonds to FCI
The Government of India on Monday issued Food Corporation of India 8.15 per cent special bonds-2022 for Rs 5,000 crore. The first tranche is being issued at par to FCI as part of settlement of the outstanding dues on foodgrains supplied to ... More

Bond prices fall by about 18 paise
Bond prices fell by about 18 paise as traders felt that the inflation number at 5.16 per cent figure was on the high side. Traded volumes on the order-matching system were Rs 2, 555 crore (Rs 3,360 crore). "Liquidity was also ... More

CREDIT MARKET
SBI loan `mahotsav' begins at Vizag
The SBI zonal office is organising a mega loan "mahotsav'' from Tuesday for three days at the YMCA grounds on the beach road here, according to the Deputy General Manager, Mr Supriya Kumar Chaudhuri. He said here on Monday that ... More

SHORT TERM INSTRUMENTS
Call rates high on tight liquidity
Call rates ruled between 6.60-6.70 per cent against Friday's 6.40 and 6.50 per cent. "The tight liquidity in the market pushed up the call rates," said a dealer at a private bank. In the first one-day reverse repo auction under ... More

ALLIANCES & JOINT VENTURES
IDBI, Mitcon in pact for carbon credit services
IDBI is the first nationalised bank to take the initiative to assist companies in this business. More

PEOPLE

SBI Caps MD