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INSIGHT
Why is the dollar valued so high?
The fact that the dollar commands such a high valuation vis-a-vis major currencies, has always been intriguing. It is 46 times more powerful than the rupee and seven times than the Chinese yuan. ... More

FOREX
Rupee falls marginally
The rupee fell by around 10 paise against the greenback on Monday on the back of dollar buying. The domestic currency opened at 44.82/85 and touched an intra-day high of 44.73/73. It finally closed at 44.83/85 against 44.72/73 on Friday last ... More

SOFTWARE
`Insurance sector set to see big tech investments'
Cos built hybrid systems that provide infrastructure More

GENERAL INSURANCE
IRDA move to hike third party premium flayed
`Betrayal of interests of the insured' More

Swiss Re to foray into health insurance
To buy 26 pc stake of India Value Funds in TTK Healthcare More

FINANCIAL POLICY
`Stock market plunge not cause for worry'
The Finance Minister, Mr Mr P. Chidambaram, has said that the Reserve Bank of India's recent move to increase cash reserve ratio (CRR) for banks was not a surprise and that it was aimed at moderating credit growth. He also said that Monday's ... More

CREDIT RATING
ICICI Bank ratings unaffected
Foreign currency ratings and outlook (BB+/Positive/B) on ICICI Bank by Standard & Poor's Ratings Services remain unchanged following the bank's proposed acquisition of Sangli Bank. "Although the financial profile of Sangli Bank . More

DERIVATIVES MARKETS
RBI for cap on banks' exposure to derivatives
The Reserve Bank of India has suggested a limit of 0.25 per cent of the net worth on banks' exposure to all non-option rupee derivative contracts, including rupee-foreign currency contracts. The draft report released said today that the ... More

FINANCIAL INSTITUTIONS
PFC files prospectus with SEBI
Power Finance Corporation Ltd (PFC) filed its prospectus with market regulator SEBI for its initial public offering on Monday. The State-run lending agency submitted its draft red herring prospectus for an IPO up to 11.73 crore ... More

GOVT BONDS
Bond yields rise 13 bps
Bond yields rose by almost 13 basis points following the hike in Cash Reserve Ratio by 50 basis points. "Post CRR-hike, money will be tight and mark down prices," said a dealer at a private bank. The fall in prices has been the ... More

SHORT TERM INSTRUMENTS
RBI raises retention amount in weekly T-bill auctions
G-secs turn attractive as banks reduce bulk deposits' acceptance More

Call rates rule high
Call rates ruled between 6.55 per cent and 6.65 per cent against Friday's 6.1 per cent and 6.2 per cent. In the first one-day reverse-repo auction under LAF, the RBI received and accepted four bids for Rs 760 crore. There were no ... More

FIXED DEPOSITS
Union Bank hikes term deposit rates
Union Bank of India has increased domestic term deposit rates by 25-75 basis points with immediate effect, said a press release from the bankLast week, State Bank of India had also increased deposit rates by 25-75 basis points. ... More

MERGERS & ACQUISITIONS
Bank of India buys 76 pc stake in Indonesian bank
Bank of India today acquired majority 76 per cent stake in Indonesian bank, P T Bank Swadesi Tbk, said a press release from Bank of India. This is the first overseas acquisition for Bank of India, which has a representative office in Indonesia ... More

TRADE & LABOUR UNIONS
LIC officers to join Dec 14 strike
The Development Officers of Life Insurance Corporation (LIC) of India will be participating in the nation-wide strike called on December 14. Over 19,000officers across the country will be participating in the strike. Further ... More

INTERVIEW
Sangli Bank deal: `The best integrator will extract the best value'
The hottest development in the banking scene is the announcement by ICICI Bank to merge Sangli Bank with itself. To decode the deal, Business Line spoke to Mr Abizer Diwanji, Head (Transaction Services), KPMG India, Mumbai. The firm was ... More

The push and the pull for bank combinations
With large banks aiming to increase their presence in non-metro parts of India, combined with their strong financial performance, the promoters/shareholders of old-private sector banks are getting good values for their holding. More

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