The Hindu Business Line : Wednesday, September 03, 2008

MONEY & BANKING

PUBLIC SECTOR BANKS: UCO Bank to tap capital market in Dec quarter
Capital rejig plan awaits Cabinet nod. New Delhi, Sept. 2 UCO Bank, a public sector bank, is looking to tap the capital market with follow-on public offering (FPO) during the December quarter this year, its Chairman and Managing Director, Mr ...

INSIGHT: Is it time for ‘Basel III’?
The changing role of central banks from ‘lenders of last resort’ to ‘buyers of first resort’ was clearly visible in the rescue act played by the US Treasury in the case of Fannie Mae and Freddie Mac. The January-March ...

CREDIT CARDS & DEBIT CARDS: Andhra Bank to expand card biz
To focus on corporate lending too. Hyderabad, Sept. 2 Andhra Bank is planning to expand its credit card portfolio significantly, according to Mr R.S. Reddy, its Chairman and Managing Director. ...

GOVT BONDS: Sharp rise in bond prices
Bond prices rose sharply during the day as they reacted to the easing price of global crude. Total traded volumes on the order matching system were at Rs 9,775 crore (Rs 6,290 ...

FOREX: Rupee weakens further
The rupee fell by 25 paise against the greenback on Tuesday due to huge demand for dollar from foreign banks and oil companies. The rupee’s movement was in the range of 40 paise indicating high volatility, said forex dealers. The currency ...

LIFE INSURANCE: Term plan premia to fall 12-40 per cent
IRDA lowers solvency margins. Mumbai, Sept. 2 Premia charged for term insurance policies are likely to decline sharply with the Insurance Regulatory Development Authority (IRDA) reducing the solvency margin required for insurance players to ...

PRIVATE BANKS: Catholic Syrian looking at more NRI investments
Thiruvananthapuram, Sept. 2 Catholic Syrian Bank is seeking shareholders’ approval for inviting NRI investments not exceeding 24 per cent of the paid-up capital. ...

NBFCS: ICICI Bank, Peerless credit card
Kolkata, Sept. 2 Peerless General Finance and Investment Company Ltd (PGFI) announced here on Tuesday the launch of co-branded credit card with ICICI Bank. The launch of the card would add value and variety to the product portfolio under ...

DERIVATIVES MARKETS: MCX mock currency futures trading fetches Rs 125 cr
Mumbai, Sept 2 MCX Stock Exchange (MSE) has registered a turnover of Rs 125 crore with 30 members participating in the mock trading of currency futures on Tuesday, the company said in a press ...

PUBLIC SECTOR BANKS: Allahabad Bank initiatives

CREDIT MARKET: SBT bags award for micro lending

SHORT TERM INSTRUMENTS: Call rates end lower

PEOPLE: Inflation heading down, but should RBI cut?
It’s all over bar the shouting. Mr Duvvuri Subba Rao, Finance Secretary to the Government of India, will succeed Dr Y. V. Reddy as Governor of the RBI, ending weeks of ...

CO-OPERATIVES: Meet on co-op banks development
The regional training college of National Bank for Agriculture and Rural Development (Nabard) in Mangalore conducted a seminar for chief executive officers of district central cooperative banks of southern States and Maharashtra recently. A press ...