The Hindu Business Line : Friday, August 17, 2007

INVESTMENT BANKING
SBI Funds ties up with Dena Bank
SBI Funds Management Pvt Ltd, the investment managers for SBI Mutual Fund, has tied up with Dena Bank to enhance the fund’s reach. Mr Syed Shahabuddin, Managing Director and Chief Executive Officer, SBI Mutual Fund, and Mr U.S. Kohli, ... More

FINANCIAL SERVICES
SEBI working on regulating financial advisors
‘Unregulated financial advice in securities market increasing’ More

Low-cost financial advice need of the hour: SEBI
Call to tap insurance market with trained manpower More

FOREX
Rupee falls on global worries, equity sell-off
Mumbai, Aug. 16 The rupee was extremely volatile on Thursday and closed about 60 paise lower at 41.36/37 against Tuesday’s close of 40.7450/7550, following a sell-off in the domestic stock market. The rupee had opened at around 41 ... More

HOUSING FINANCE
Dewan Housing allots shares to Caledonia, Wadhawan Holdings
Mumbai, Aug .16 Dewan Housing Finance Corporation Ltd has allotted 70,65,456 equity shares of Rs 10 each at a premium of Rs 65 per share to Caledonia Investments Plc, London, upon conversion of 70,65,456 optionally convertible preference ... More

FINANCIAL MARKETS
Sub-prime spectre shaves 642 points off shaky Sensex
Bond and currency markets follow suit; rupee loses 60 paise More

Futures drop on sub-prime woes
Mumbai, Aug 16 Woes of sub-prime lending seem to have hit sentiments on the commodity futures exchanges, especially on soya complex, which tracks the international price movements. Almost all the agriculture commodity futures ended Thursday in ... More

HUMAN RESOURCES
Banks must improve staff skills to curb money laundering: KPMG
New Delhi, Aug. 16 Banks in India and other Asia-Pacific countries must improve skills of their staff to curb money laundering activities, as training programmes are unsophisticated and the laws outdated, consultancy firm KPMG has said in a ... More

RBI & OTHER CENTRAL BANKS
RBI does a mop-up at Marina!
Chennai, Aug. 16 It was a different kind of sterilisation. It was a different kind of mopping-up operation by these central bankers. Only this time, it was not money – clean or otherwise. It was a clean up of a portion of the ... More

No shortage of coins, says RBI
A press communique from Mr.F.R.Joseph, Regional Director, RBI, Chennai, says, "The Reserve Bank of India has been receiving complaints from some quarters about inadequate availability of coins. The bank clarifies that there is no shortage of ... More

PRIVATE BANKS
Centurion to expand forex unit
New Delhi, Aug. 16 The Centurion Bank of Punjab’s foreign exchange services (FES) division plans to expand its geographical presence to 106 locations in the country by end-March 2008, Mr Sudarshan Motwani, Head-Foreign Exchange Services ... More

KVB unveils special SB a/c
Karur Vysya Bank has introduced the ‘KVB Freedom SB Account’ with multi-city features for its savings bank customers. Largely targeted at high net worth individuals, this product offers freebies such as 100 cheque leaves a year, ... More

Federal Bank to introduce gold coins
To coincide with the Malayalam New Year Chingam 1 on Friday, the Aluva-based Federal Bank is to roll out its new product – Federal Bank Pure Gold – at a function to be held at Federal Towers. The Bank Chairman, Mr M. ... More

PUBLIC SECTOR BANKS
Canara Bank rural artisans’ institute getting new campus
More

Commercial realty loans turning costlier
Repricing done in view of rising default risk, say PSBs More

United Bank sets up rural institute
United Bank of India has set up a Rural Development and Self-Employment Institute at Rajpur, 24-Parganas (South) District, where it is the Lead Bank. The institute was inaugurated by Dr Asim Dasgupta, Finance Minister, Government of West Bengal, ... More

CO-OPERATIVES
Lokmanya Co-op Society on expansion drive
Pune, Aug. 16 Belgaum based Lokmanya Co-operative Credit Society is undertaking an expansion drive in Maharashtra, and is targeting to double its current network of 46 branches by the end of 2008. Mr Kiran Thakur, Founder Director, ... More

DIVERSIFICATION
IDBI to go ahead with insurance venture plans
‘No move to step up exposure to Dabhol project’ More

Andhra Bank plans insurance foray
More

RIGHTS ISSUE
1:1 rights from CSB
Kochi Aug. 16 Catholic Syrian Bank has announced the issue of 1.02 crore equity shares of Rs 10 each on a 1:1 rights basis to existing shareholders. The issue would command a premium of Rs 110 per share and is expected to mobilise Rs ... More