The Hindu Business Line : Wednesday, October 19, 2005

Rupee sheds 30 p; bonds listless
MUMBAI: After breaching the psychological level of 45 on Monday, the rupee continued to plunge downwards on Tuesday. It touched an 11-month low against the US dollar to close at 45.16/17, almost 30 paise lower than Monday's close of ... More

AGRICULTURAL INSTITUTIONS

PM wants Nabard to part-fund Bharat Nirman
THE Prime Minister, Dr Manmohan Singh, has asked the Finance Ministry to direct the National Bank for Agriculture and Rural Development (Nabard) to create a separate financing window to bridge the funding gap in the rural roads and irrigation ... More

LIFE INSURANCE

Coimbatore LIC division posts 25% growth in first premium income
THE Coimbatore division of Life Insurance Corporation of India (LIC) has set a premium target of Rs 5 crore on the Jeevan Plus Table No 173 policy on the day of its launch. Highlighting the salient features of this whole life unit-linked plan, ... More

Growth in South Central Zone LIC policy sales
HYDERABAD: The South Central Zone of Life Insurance Corporation of India (LIC) has achieved a growth of 13.66 per cent in number of policies sold (15.17 lakh policies) for the first six months of the current fiscal ended September 30, ... More

LIC launches new unit-linked plan
LIC has launched a unit-linked whole life plan called Jeevan Plus, which will replace the closed Bima Plus plan. This long-term plan is believed to have more flexibility than Bima Plus, which was launched four years ago. "With private players ... More

TCS bags BPO deal from UK insurer
A subsidiary in which Pearl will be a minority, passive partner would be created to handle the project. More

GENERAL INSURANCE

Spate of natural calamities turns worrisome — Insurers to scale up CAT cover
MOUNTING losses due to natural disasters appear to be forcing insurers to scamper for cover. The series of natural calamities that rocked the country during the year has not just the insurable public worried, but also insurance companies which ... More

PUBLIC SECTOR BANKS

Union Bank begins capital market ops
UNION Bank of India is offering clearing bank operations of the BSE and the NSE for settlement of funds obligations under cash and forward and operations segments. It has put in place infrastructure and started the activities of capital market ... More

Allahabad Bank eyes Rs 225-cr fee-based income this year
ALLAHABAD Bank has targeted a fee-based income of Rs 225 crore in the current year, a key part of which will come from sale of investment and savings products. Mr O. N. Singh, Chairman, said the bank has set great store by marketing mutual ... More

FOREIGN BANKS

Deutsche Bank re-enters retail
DEUTSCHE Bank announced on Tuesday that it is starting retail banking operations in India with eight branches in seven cities all over the country. In fact, for the German multinational bank, it is a re-entry in this sector in India as the ... More

INTEREST RATES

The dilemma of inflation-interest
If overall economic activity remains unaffected by rising oil, there is a significant probability of the inflation moving up. More

GOVT BONDS

Crisil upgrades ratings on Govt bonds
CRISIL has upgraded its ratings on Maharashtra Krishna Valley Development Corporation (MKVDC) bonds, issued by the Maharashtra Government. They have been upgraded to BBB- from the 2002 default status of `D'. Ms Roopa Kudva, Executive Director ... More

CREDIT MARKET

New pvt banks lag behind in granting education loans in Kerala
NEW private sector banks in Kerala have been taking it rather easy when it comes to the question of granting education loans to eligible students in the State. This was despite a special meeting of banks convened by the Chief Minister, Mr ... More

CREDIT CARDS & DEBIT CARDS

Will cashback bait make cardholders spend more?
GIVING a discount is the oldest trick in the book to boost sales. Credit card companies are now offering you a part of your money back. Called `Cash back offers', and started as promotional offers by a few companies earlier this year, they have ... More

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