The Hindu Business Line : Wednesday, October 01, 2008

MONEY & BANKING

TRENDS: Chidambaram, Bhave calm investor nerves
New Delhi, Sept. 30 Indian stock market indices on Tuesday bucked global slide in stock prices, thanks to the unequivocal assurances from the Union Finance Minister, Mr P. Chidambaram, and the SEBI Chairman, Mr C.B. ...

FINANCIAL MARKETS: IT budgets may shrink by a fifth in BFSI sector
Forrester sees more spending on compliance issues. Bangalore Sept. 30 IT spending by global financial institutions may shrink by a fifth in 2009 as large entities such as Bear Stearns, Lehman Brothers, Merrill Lynch and Wachovia Corp become ...

FOREX: High cost of oil widens current account deficit
Growth in invisibles helps offset negative balance of trade. Chennai, Sept. 30 High cost oil widened the current account deficit or the gap between imports on the one hand and exports and ‘invisible’ earnings (comprising software ...

RBI & OTHER CENTRAL BANKS: ICICI Bank has sufficient liquidity, says RBI
Mumbai, Sept. 30 ICICI Bank has sufficient liquidity, including in its current account with the Reserve Bank of India, to meet the requirements of its depositors, the RBI said in a ...

PRIVATE BANKS: A night that kept ICICI customers, officials on tenterhooks
ATM WITHDRAWALS. Hyderabad, Sept. 30 “ICICI ka kaam hogaya! Hamara paisa milega yah ...

TECHNICAL ANALYSIS: Rupee near key support
As the credit and financial market turmoil raged on and one titan after another in the financial sector was taken over or nationalised, the rupee resumed its downward ...

INSIGHT: No light at the end of tunnel
My article “Capitalism’s foul odour — Free market becomes free-for-all” (Business Line, February 15, 2002) was written in the context of Enron sinking like the Titanic without trace, dragging with it ...

LIFE INSURANCE: Insurance cover for MF products
Life Insurance Council had decided to continue the offer of group insurance cover on mutual fund products.Earlier, the council, the apex body of life insurance companies, had decided to discontinue the offer of group life insurance covers ...

PEOPLE: Zeti to head BIS Asian council
The board of directors of the Bank for International Settlements (BIS) on Tuesday announced the appointment of Ms Zeti Akhtar Aziz as Chair of the BIS Asian Consultative Council (ACC). Ms Zeti is the Governor of the Central Bank of Malaysia. ...

FOREX: Exporters may not reap benefits from falling rupee
Losing 10% in extra earnings due to hedging. Kolkata, Sept. 30 Medium and large exporters will not benefit much from a depreciating rupee, Mr Rakesh Shah, Chairman, Engineering Export Promotion Council (EEPC), said here ...

MERGERS & ACQUISITIONS: Federal Bank keen to raise CSB stake
Kochi, Sept. 30 In a non-predatory move that dovetails well into its long-term growth strategy, Federal Bank has shown interest in acquiring stake in the Thrissur-based Catholic Syrian ...

PRIVATE BANKS: Yodlee tech enables YES Bank to offer new service
Bangalore, Sept. 30 Private Sector bank YES Bank said on Tuesday it would offer account aggregation services to its customers, who would be able to access their other financial information on their YES Bank’s online ...

PUBLIC SECTOR BANKS: New CGM for SBT
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FINANCIAL SERVICES: UAE Exchange branch
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FINANCIAL INSTITUTIONS: Tata Capital picks 20 pc in IARC
Bangalore, Sept. 30 Tata Capital has picked up a 20 per cent stake in the International Asset Reconstruction Company Private Ltd promoted by HDFC Ltd and City Union ...

PRIVATE BANKS: HDFC Bank launches ‘Project Jharkhand’
Mumbai, Sept. 30 HDFC Bank launched ‘Project Jharkhand’ an IT-enabled financial inclusion. As part of the programme, the bank launched its services at a Common Service Centre (CSC) in Kanke comprising over 1.5 lakh households ...

SOCIETY & DEVELOPMENT: Ambulance donated
KOCHI: Syndicate Bank has donated a Maruti Van ambulance to Ashraya, a community development project of Kochi Corporation. It will be mainly used for the rehabilitation of the destitute and terminally ill ...

FINANCIAL MARKETS: Bank crisis: Core issues
Main Street must have at least a brief moment of glory against Wall ...

FIXED DEPOSITS: Sundaram Fin hikes deposit rates
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FIXED DEPOSITS: SBH hikes term deposit rates
State Bank of Hyderabad (SBH) has increased interest rates on domestic term deposits with effect from October 1. According to the revised rates, interest rates on deposits for 180 days to less than one year would be at 10.25 per cent (as ...