MONEY & BANKING
INSIGHT
$ 6-b ECB money likely to flood markets — Cos seeking 'change in lender profile, lower interest cost'
A number of your clients appear intent on ignoring rupee funds and are instead, queuing up to borrow from overseas markets. Since January, about 25 companies have announced plans for raising money through external commercial borrowings (ECBs). ...
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FOREX
Rupee extends loss; securities decline
MUMBAI: The rupee closed weaker at 45.32 on Thursday against the dollar in the forex market. On Wednesday, the domestic currency closed at 45.2850/2900. The rupee opened at 45.28/29 and touched an intra-day high of 45.33 on the ...
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Liquid gold and the weak-kneed dollar
OIL touched its highest level in almost a year last Tuesday; with US light crude peaking at $36.98 a barrel, before easing 11 cents to close at $36.75; While London Brent eased seven cents to close at $33.27. Peak values for American light ...
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INFORMATION TECHNOLOGY
SBBJ in talks with ICICI Bank for sharing ATM network
STATE Bank of Bikaner & Jaipur (SBBJ) is planning to expand its ATM network by entering into shared network arrangement with ICICI Bank. "Our discussion with ICICI Bank for sharing the ATM network facility is in advanced stage and we hope to ..
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GENERAL INSURANCE
IRDA waives special discount, issues new insurance brokerage norms
THE insurance brokerage companies have got a small relief with the Insurance Regulatory Development Authority (IRDA) issuing fresh guidelines with the removal of 5 per cent special discount for companies with paid up capital up to Rs 3 ...
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IRDA notification, brokers unhappy
GENERAL insurance brokers are not too happy with the Insurance Regulatory and Development Authority notification. "Our crying continues. The notification is not really a satisfactory answer to our representation," said Mr R. Thyagarajan, ...
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RBI & OTHER CENTRAL BANKS
RBI asks banks to accept coins of all denominations
THE Reserve Bank of India today directed banks to "immediately instruct their branches" to accept coins of all denominations from any member of public. If banks find it difficult to count large number of coins, they should buy coin-counting ...
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PRIVATE BANKS
TMB share transfer issue lands in court
THE issue of transferring the 34 per cent shares held by Mr C. Sivasankaran in the Tamilnad Mercantile Bank Ltd, promoted by the Nadar community years ago, as a result of the agreement reached on February 16 to representatives of the community ...
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PUBLIC SECTOR BANKS
Andhra Bank customer care panel
Canara Bank ATM
NON-PERFORMING ASSETS
Subjective interpretation could derail OTS scheme
SMALL-scale industry associations fear that the subjective interpretation of the RBI notification regarding the one-time settlement (OTS) scheme could render the scheme ineffective. The RBI guidelines speak of `non-discretionary and ...
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UCO Bank offer to defaulters
THIRUVANANTHAPURAM: Borrowers of UCO Bank with a balance of up to Rs 10 crore and whose accounts have turned non-performing have been offered another opportunity to repay the loans provided they are eligible for a negotiated One Time ...
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CREDIT MARKET
Exporters may be allowed $ loans at special rates
THE Reserve Bank of India (RBI) may permit exporters with a good track record to raise dollar-denominated funds at a special interest rate that is internationally competitive, a top government official has said. "The RBI is working on this plan ...
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SHORT TERM INSTRUMENTS
Bombay Dyeing rating reaffirmed
MUMBAI: BOMBAY Dyeing & Manufacturing Company Ltd has informed BSE that ICRA has reaffirmed the `A1+' rating assigned to the Rs 100-crore short-term debt (including CP) programme. ...
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MERGERS & ACQUISITIONS
Sri Lankan company to pick up 20 pc stake in Armour Consultants
THE Ceylinco group of Sri Lanka is expected to pick up a 20 per cent stake in the Chennai-based insurance broking firm, Armour Consultants. Ceylinco is the largest financial sector player in Sri Lanka, with interests in insurance and banking. ...
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IPOS
Bank of Maharashtra issue oversubscribed
THE Rs 230-crore public issue of Bank of Maharashtra is understood to be oversubscribed nearly six times. The issue is said to have witnessed active participation from FIs and banks. As on Wednesday, the issue had been oversubscribed 3.5 times ...
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Cross Currency Rates
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