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Thursday, December 07, 2006
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Rupee weakens by 16 paise
The rupee weakened by almost 16 paise on Wednesday on strong dollar demand from foreign banks on behalf of oil companies. The home currency opened at 44.49/50, touched an intra-day low of 44.71, to finally close at 44.69/70, ... More

Govt assures support for United Bank capital rejig
The Union Finance Minister, Mr P. Chidambaram, has assured United Bank of India (UBI) of all support from his Ministry for restructuring its capital, thereby facilitating enlistment of its shares in the stock exchanges at the earliest. ... More

Standardising insurance norms
It appears to be only a matter of time before there is a separate accounting standard for insurance companies. More

RBI allows new category of NBFCs
Non- banking finance companies financing real or physical assets will now be classified as asset financing companies (AFCs). This follows the re-classification of NBFCs announced by the Reserve Bank of India on Wednesday. An AFC is defined ... More

Maruti ties up with banks to promote scheme for NRIs
Maruti has tied up with SBI, HDFC Bank and ICICI Bank for easy finance options to prospective NRIs opting for the `NRI Dil se' scheme. The company currently has a tie-up with Citibank. The NRI scheme launched in July 2006 is primarily targeted ... More

Mediclaim for senior citizens unveiled
National Insurance Co, the Kolkata-based insurance company which has completed 100 years, today unveiled a Mediclaim policy for senior citizens. The company, which has named it Varistha Mediclaim, selected two customers for the policy, which ... More

Widen coverage in rural areas, Kalam tells NIC
Favours demat system for insurance policies More

Star Health to sell policies through registered agents
Star Health and Allied Insurance Company Ltd, a stand-alone health insurance provider, has obtained permission from the Insurance Regulatory and Development Authority (IRDA) to use registered insurance agents to sell its policies. According to ... More

Bonds prices end flat
Bond prices were range-bound before it ended flat. Total traded volumes on the order-matching system were Rs 2,475 crore (Rs 5,390 crore). Dealers said traders were cautious ahead of the Rs 9,000 crore auction on Friday. "The ... More

YES Bank enters microfinance sector
YES Bank, which launched its microfinance division YES Microfinance India today, has signed an MoU for technical collaboration with Boston-based Accion International, a microfinance institution. Accion will provide the bank with ... More

Financial inclusion drive
The Canara Bank branch at rural Anchamada conducted a function here recently to introduce the concept of financial inclusion to the ward-level families within the jurisdiction of the branch. Mr P. Mohanan, General Manager at the ... More

IFC may invest Rs 100 cr in Moser Baer project
Funding for solar photovoltaic cells and module facility More

Call rates unchanged
Call ruled unchanged between 6.05 per cent and 6.15 per cent. In the first one-day reverse-repo auction under LAF, the RBI received and accepted eight bids for Rs 2850 crore. There were no repo bids. In the second one-day ... More

TMB cuts NRE deposit rates
Tamilnad Mercantile Bank (TMB) has reduced the interest rates up to 20 basis points on its non-resident external (NRE) term deposits from December 1. The rate has been reduced by 10 basis points (bps) to 6.24 per cent for the ... More

Advertising? Don't bank on it!
There's no point in beaming beautiful ads about customer service when the reality is quite something else! More

`Insurance is long-term savings'
Chidambaram for push to reforms More

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