The Hindu Business Line : Saturday, March 31, 2007

Forex reserves rise $1.789 b
The country's foreign exchange reserves surged by $1.789 billion to touch $197.746 billion in the week ended March 23, 2007. The reserves have increased by over $3.3 billion in two consecutive weeks. During the week ended March 16, the reserves ... More

External debt surges by $6.19 b in Q3
On the back of commercial borrowings, NRI deposits More

STOCKS
ICICI Bank, HDFC Bank ADRs slump 5%
The ADRs of ICICI Bank and HDFC Bank fell by almost five per cent on the NYSE within a few minutes of trading hours in reaction to the sudden hike in cash reserve ratio and repo rates by the central bank. The former fell by 4.96 per cent or $1.96 ... More

LIFE INSURANCE
BoB enters life insurance biz
Selects UK's Legal & General as partner More

FOREIGN DIRECT INVESTMENT
FDI limit in credit info cos to be cut to 49%
Bigger say for Indian partners More

PRIVATE BANKS
ING Vysya opens ATM outlet
ING Vysya Bank opened an offsite ATM outlet at KPHB Colony (Kukatpally) on Friday taking the total number of ATMs to 136 in the country. The bank has over six lakh debit card users. ... More

PUBLIC SECTOR BANKS
Select SBI units working today
Select branches of State Bank of India that normally conduct Government business will remain open on Saturday, which is a holiday under the Negotiable Instruments Act. According to a spokesman for the Local Head Office of the ... More

INTEREST RATES
RBI marks up key rates; aim is to ensure price stability
Repo rate, cash reserve ratio raised; retail, corporate loans may turn costlier More

The `surprise' hike
Markets may not like surprises. But that disapproval rarely, if ever, deters central bankers from giving them a jolt every now and then. Act when it is unexpected and sit tight when it is expected, seems to be the unspoken central banking mantra. ... More

Get ready for higher interest rates, say bankers
Interest rates are sure to harden, say bankers reeling from the RBI's `triple whammy'. The central bank's hike in repo rate by a quarter percentage point to 7.75 per cent, increase in the Cash Reserve Ratio by 50 basis points to 6.50 per cent, as ... More

CRR & BANK RATES
`CRR hike to have some impact on profitability'
The decision of the Reserve Bank of India (RBI) to hike cash reserve ratio (CRR) will have a marginal effect on the profitability of bank , according to Mr Anantakrishna, Chairman and Chief Executive Officer of Karnataka Bank. "The rate ... More

CORPORATE BONDS
State Bank of Saurashtra bonds
State Bank of Saurashtra has raised Rs 225 crore through unsecured redeemable non-convertible subordinated (Tier-II) bonds on private placement basis. The size of the issue was Rs 125 crore with an option to retain over subscription of Rs 100 ... More

SHORT TERM INSTRUMENTS
Call rates surge; touch intra-day high of 80%
State loans can be collaterals, says RBI More

SOCIETY & DEVELOPMENT
United Bank trust for underprivileged
United Bank of India has launched `United Bank Socio-Economic Development Foundation' - a trust aimed at promoting developmental activities for the underprivileged. The bank, according to Mr P.K. Gupta, Chairman and Managing ... More

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Mar. 18-Mar. 24
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