The Hindu Business Line : Wednesday, June 27, 2007

INSIGHT
How banks can lend long-term at fixed rates
If banks are to be incentivised to offer long-term, fixed-rate loans, then mechanisms have to be found to manage the interest rate risk inherent in borrowing short and lending long. In the larger fight against inflation, the importance of bette r risk management and financial intermediation cannot be glossed over. More

FOREX
Rupee weakens by 5 paise
The rupee weakened by five paise on demand for greenback and closed at 40.92/93 on Tuesday, lower than the previous close of 40.87/88. There was a two-way movement in the market today. The home currency opened at 40.94/96 and ... More

SOFTWARE
Emirates Bank using Finacle tool
Emirates Bank is implementing Infosys Technologies' Finacle Universal Banking Solution as the new core-banking platform for the banking group. The new system will be implemented across Emirates Bank International, its branches in Saudi Arabia, ... More

LIFE INSURANCE
ING Vysya Life Insurance declares bonus
ING Vysya Life Insurance Company has declared a bonus of Rs 75 per thousand on three of its policies. The Vice-President and Head of Product Development Mr Y.V.D.V. Prasad, told presspersons here today, "We have earned good returns on our ... More

GENERAL INSURANCE
Global reinsurers fail in meeting Fac Re contracts
IRDA not ready to resolve issue More

FINANCIAL POLICY
Central banks' nightmare: Liquidity and leverage
Central bank independence, even if not enshrined in Constitutions, is an article of faith with practically all governments. More

PRIVATE BANKS
UTI Bank raises $60 m thru bonds
UTI Bank has raised $60 million through the issuance of Upper Tier-II bonds in the international market as a part of its Medium Term Notes programme for 2 billion. The bond with a 15-year maturity has a coupon rate of ... More

DD drawing arrangement
Bank of India has entered into a DD drawing arrangement with City Union Bank Ltd (CUB) enabling its Singapore branch to issue rupee denominated demand drafts drawn and payable at select branches of CUB. CUB has in a release said ... More

PUBLIC SECTOR BANKS
Punjab & Sind Bank for capital restructuring
Ahead of a planned initial public offering (IPO), state-owned Punjab and Sind Bank (PSB) wants to restructure its capital by converting a part of its existing paid-up capital into perpetual preference shares. "Our request for capital ... More

Central Bank of India new branch
Central Bank of India opened its 167th branch in Hyderabad zone at Vanasthalipuram here. Mr K. Subbaraman, Executive Director of the bank, inaugurated the branch on Saturday in the presence of Mr K Subramanian, Zonal Manager and ... More

GOVT BONDS
Bond prices fall on profit booking
Bond prices fell by 15-20 paise on profit booking by traders. The yields went up by two basis points. "Liquidity condition was tight, the inter-bank call rates rose to the highest this month raising concern among market players ... More

CREDIT MARKET
StanChart plans lending $100 m for micro-finance
Standard Chartered Bank plans to lend $100 million for micro-finance in India by the end of 2008. "We have currently committed around $40 million in India which we hope to increase to $100 million by the end of 2008. We would like to cover one ... More

SHORT TERM INSTRUMENTS
Call rates rise to 4.5-5%
The inter-bank call rates rose to the highest level this month to close at 4.5-5 per cent on Tuesday against the previous close of 2.75-3.25 per cent due to tight liquidity condition. "The surplus cash has been sucked out from ... More

REGULATORY BODIES & RULINGS
Insurance control on compensation rates goes
IRDA circular applies to fire, engineering and workmen sections More

PEOPLE
New GM for SBH
Mr Shyam Kishore Lal has assumed charge as General Manager (Operations), State Bank of Hyderabad. He began his career as a probationary officer in State Bank of Bikaner in 1974 and held various assignments. Prior to the current ... More