The Hindu Business Line : Saturday, September 01, 2007

AWARDS & HONOURS
SBT bags award
State Bank of Travancore has won the national award for commercial banks for excellence in lending to the micro and small enterprises sector for 2006-07. The award has been instituted by the Ministry for Micro, Small and Medium ... More

INSIGHT
Remembering the financial earthquake
When the devaluation in Thailand took place in July 1997, following the floatation of the baht, no one imagined it would transform into the epicentre of a financial earthquake, affecting not just the region but even countries as far-flung as Russia, Brazil and Argentina, say D. SAMBANDHAN and S. S. TABRAZ More

FOREX
Forex kitty bigger by $2.4 billion
Mumbai, Aug. 31 After two weeks of consecutive fall in reserves, the forex kitty went up by $2.404 billion to $228.849 billion for the week ended August 24. Market participants attributed it to the revaluation of currency assets particularly ... More

HOUSING FINANCE
Bank of Baroda cuts home loan rates
Mumbai, Aug. 31 Bank of Baroda reduced the rate of interest on housing loans up to 50 basis points. The bank today said the new rates would be applicable to all new housing loans sanctioned on or after September 1, 2007.The new floating ... More

PUBLIC SECTOR BANKS
Centre feels impact of buying out RBI’s stake in SBI
Fiscal deficit jumps 50% More

FINANCIAL INSTITUTIONS
Karnataka borrowings from FIs up at Rs 22,613 cr
‘Rising spread turns away States from open market loans’ More

APSFC raises Rs 50 crore from market
Hyderabad, Aug. 31 Andhra Pradesh State Financial Corporation (APSFC), has for the first time, raised Rs 50 crore from the market by issuing non-SLR bonds. Non-SLR(statutory liquidity ratio) bonds are usually issued by public sector ... More

GOVT BONDS
Bond prices move up
Bond prices opened higher and went up during the day on account of lower inflation figures and expectations that liquidity conditions may ease. The market also expected the US Federal Reserve to cut interest rates, said a bond dealer with a ... More

CREDIT MARKET
SBI targeting Rs 40,000-cr lending to farm sector
Sees lot of potential and competition in rural areas More

SHORT TERM INSTRUMENTS
T-bill auctions
The Reserve Bank of India today announced the auctions of 91-day and 182-day Government of India Treasury Bills for a notified amount of Rs 6,000 crore of which Rs 5,000 crore is the MSS amount.The auction will be conducted on September 5, ... More

Call rates end lower
In the first reverse repo auction under LAF, the Reserve Bank of India receivedand accepted 18 bids worth Rs 16,855 crore. There wereno repo bids. The CBLO market saw 502 tradesaggregating Rs 30,665.10 crore in the 0.40-8.25 per centrange. - ... More

FIXED DEPOSITS
SBH deposit mop-up drive
Hyderabad, Aug. 31 State Bank of Hyderabad (SBH) will launch a nation-wide ‘Deposit Mobilisation Utsav’ from September 1. During the one-month programme, an additional interest of 25bps per annum would be offered on all term ... More

OVERSEAS INVESTMENTS
Union Bank to open branch in HK
More

TRADE & LABOUR UNIONS
Bank unions protest
More

CONVERGENCE
Combined biz insurance policy on the cards
Council fixing ‘library of clauses’ for add-on covers More

EVENTS
Support grows for Islamic banking
New Delhi, Aug. 31 A case is being made for launch of participatory banking (popularly known as Islamic banking) in the country, with many bankers, both domestic and foreign, supporting this concept even as they await a proper regulatory ... More

Bank union meet
The National Confederation of Bank Employees (NCBE) is organising its 6th Triennial State Conference On September 1 and 2 in Palakkad. Dr. Prabhat Patnaik, Vice-Chairman of the Kerala Planning Board, is to inaugurate this conference. Various ... More