MONEY & BANKING
FOREX
Remittances up to $ 50,000 allowed
The Reserve Bank of India has come out with guidelines on resident individuals remitting up to $ 50,000 against the earlier $ 25,000, a measure announced in the mid-term review of annual policy statement, 2006-07. Resident individuals can now ...
More
Rupee gains against dollar
The rupee appreciated slightly against the dollar on Wednesday, tracking gains made by the euro. The domestic currency opened at 44.71 and touched an intra day high of 44.69. It finally closed at 44.71/72, against Tuesday's ...
More
LIFE INSURANCE
Union Bank to take stake in Bank of India insurance venture
Union Bank of India will be the third partner in the three-way life insurance venture with Bank of India and Japan-based Dai-ichi Mutual Life Insurance. In a notice to the BSE on Wednesday, Union Bank said that the MoU would be signed on ...
More
GENERAL INSURANCE
Motor insurance pool faces technical glitches
GIC wants its software to be used by insurers
More
RBI & OTHER CENTRAL BANKS
RBI to hold meeting on loans to farmers, small enterprises
The Reserve Bank of India (RBI) will convene a special meeting of the State Level Bankers' Committee under the chairmanship of the Deputy Governor of RBI to discuss issues pertaining to credit for SMEs, small-scale projects, the agriculture ...
More
PRIVATE BANKS
South Indian Bank branch in Lucknow
The 460th branch of South Indian Bank was inaugurated today at Lucknow by Mr Vinod Rai, Secretary, Ministry of Finance. Dr V.A. Joseph, Chairman, said that 100 per cent of the bank's business would have migrated to core banking ...
More
PUBLIC SECTOR BANKS
India Infrastructure gets govt guarantee to raise Rs 5,000 cr
Signs MoUs with 3 public sector banks for big ticket funding
More
Training on CorpXpress services
Corporation Bank and the UAE Exchange jointly conducted a training programme on `CorpXpress Money Services' for non-resident Indians at the head office of the bank recently. A bank release said here on Wednesday that NRIs can ...
More
Vijaya Bank plans to expand `DD Shoppe'
Vijaya Bank plans to expand its `DD Shoppe', in all cities with high market activity in the next few months. It also wants to raise Rs 500 crore tier II funds and reach the 1000 branch network milestone by March 2007. The Demand Draft Shoppe, ...
More
GOVT BONDS
Bond prices end almost flat
Bond prices fell by around two paise (yields rose by almost one basis point) on tight liquidity in the market. Total traded volumes on the order-matching system were at Rs 2,225 crore (Rs 3,990 crore). "There was hardly any ...
More
CREDIT MARKET
Infrastructure: Panel to look into long-term funding
Viability gap-funding for 17 project proposals cleared
More
SHORT TERM INSTRUMENTS
Call rates unchanged
Banks on Wenesday borrowed a hefty Rs 11,640 crore from the RBI under repo auctions even as call ruled unchanged at 8.10-8.20 per cent. In the first one-day reverse-repo auction under LAF, the RBI received and accepted one bid ...
More
T-bills fully subscribed
The Rs 4,000-crore 91-day and 364-day T-bills auctions on Wednesday were fully subscribed. The Market Stabilisation Scheme (MSS) amount for the 364-day T-bill was Rs 1,000 crore. The RBI received 83 competitive bids worth Rs ...
More
CREDIT CARDS & DEBIT CARDS
SBI launches gold debit card
State Bank of India has launched a signature-based international debit card with MasterCard, called the SBI Gold Debit MasterCard, for its customers maintaining an average quarterly balance of Rs 50,000. Mr Yogesh Agarwal, Managing Director ...
More
CUSTOMER RELATIONSHIP MANAGEMENT
Corporation Bank writes in
We refer to the article titled Advertising? Don't bank on it! which appeared in Brand Line dated 7th December 2006. In this connection, we wish to clarify as under: In the course of the article, the author has referred to issuance ...
More
BONUS ANNOUNCEMENTS
LIC bonus for 2005-06
The Life Insurance Corporation of India (LIC) has announced the bonus payable to policyholders for 2005-06. The bonus depends on the term of the policy and is higher for long-term policies. Whole life policyholders will receive Rs 66 per ...
More
TRENDS
Financial inclusion project in Puducherry
Puducherry has now become the first State in the country to become fully covered under the Financial Inclusion Programme. The project pioneered by Indian Bank in coordination with other banks has been completed ahead of the ...
More
Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line
|
RSS Feeds