MONEY & BANKING
INSIGHT
US election makes Fed's task tougher
ONLY a measly 1,000 jobs were created in the non-farm sectors of the US economy in December 2003 - far below expectations of 1,50,000 and upwards. The unemployment rate dropped to 5.7 per cent but this was the result of a shrinking labour ...
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FOREX
Rupee ends strong; securities move up
MUMBAI: The rupee closed two paise stronger at 45.40/41 in its value against the dollar compared to Monday's close of 45.42. The domestic currency opened at 45.42/44, touched an intra-day high of 45.3850 and an intra-day low of ...
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FINANCIAL PERFORMANCE
IndusInd Bank net profit zooms 210 pc in Q3
AN increase in the profit of sale of investments helped IndusInd Bank register a 210 per cent jump in net profit at Rs 77.09 crore for the third quarter ended December 31, 2003, up from Rs 24.83 crore in the corresponding period of the previous ...
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GENERAL INSURANCE
Tepid response to insurance VRS
IN a move intended to ensure that the four public sector insurance companies are right-sized, the Government has indicated that all the posts created by exits under the fresh VRS scheme would stand abolished. The sources said the Government's ...
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Private non-life players up market share to 15 pc
ALLAYING apprehensions that the growth for the domestic non-life insurance had begun slowing down, all the 12 players in the field have returned to their winning ways during November 2003. During November 2003, the industry grew by 17 per cent, ...
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DEBT MARKET
RBI caps FIs' investment in debt papers at 10 pc
THE Reserve Bank of India has issued final guidelines for investment in non-government debt securities by financial institutions. It hasimposed a ceiling of 10 per cent of FI's total investment in debt securities, which are covered by these ...
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RBI & OTHER CENTRAL BANKS
RBI lifts cap on Indian cos' investment abroad
FOLLOWING the recent announcements made by the Prime Minister, the Reserve Bank of India has decided to allow Indian corporates and registered partnership firms to invest in joint ventures and wholly-owned subsidiaries overseas up to 100 per cent ...
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RBI raises margin on UCBs' advances on shares to 50 pc
THE Reserve Bank of India (RBI) has raised the margin on Urban Co-operative Banks (UCBs) advances against shares to 50 per cent from the earlier margin limit of 40 per cent. The margin of 50 per cent will apply to all fresh advances against ...
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PRIVATE BANKS
Promotions to mark HDFC Bank strategy
FROM doing cross-selling exercises to organising school-level painting competitions, promotional activities are going to be the main focus of HDFC Bank's marketing strategy this year. Speaking to Business Line, Mr Ajay Kelkar, Vice-President ...
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GOVT BONDS
States loan sale
MERGERS & ACQUISITIONS
Rajnidhi Finance merged with Indian Rayon unit
INDIAN Rayon and Industries Ltd has informed the Bombay Stock Exchange that pursuant to the approval of the scheme of amalgamation by the High Court of Gujarat at Ahmedabad, effective January 7, Rajnidhi Finance Ltd, a subsidiary of Laxminarayan ...
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PEOPLE
Balakrishnan is CEO and MD of Lazard India
MR K. Balakrishnan has been appointed as Chief Executive Officer and Managing Director of Lazard India Ltd. Mr Balakrishnan, who joins Lazard from HSBC, will also become a MD of the UK-based Lazard LLC. He will be based in Mumbai. The ...
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Cross Currency Rates
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