FOREX
Rupee up 5 paise; securities rise
MUMBAI: The rupee on Monday closed at 45.2400/2450, five paise higher than the previous close of 45.2975 in its value against the dollar. There were good dollar supplies, most of which were absorbed by the Reserve Bank of India. There ... More

CONSUMER FINANCE
Good times for 2-wheeler finance market
THE two-wheeler finance market is on the growth path with increasing demand in semi-urban and rural areas. The organised market is estimated to be Rs 6,000-7,000 crore. Mr V. Vaidyanathan, Senior General Manager (Retail), ICICI Bank, said: ... More

LIFE INSURANCE
Tata AIG launches unit-linked plan
TATA AIG Life Insurance Company has launched `InvestAssure' a new unit-linked insurance plan `combining the security of a life insurance policy with the opportunity of earning high returns on the premium.' InvestAssure offers investors the ... More

GENERAL INSURANCE
Insurance cover for family planning in the works — `It could act as check on rising population'
WHAT should you do to reduce your risk against the impact of possible unforeseen calamities that might strike in future? Buy an insurance cover, of course. The Government knows this only too well and is now preparing to come out with an insurance ... More

GIC, atop quiet volcano, moots quake pool
GENERAL Insurance Corporation of India (GIC), the sole national reinsurer, perceives itself as "caught in a cleft stick" and "sitting on a silent volcano" in respect of its exposure on various risks. The corporation strongly feels the only ... More

PRIVATE BANKS
Federal Bank loans for IPO subscription
KOCHI: Federal Bank has introduced a new retail product, Federal Equity Subscription Scheme, for financing the IPOs and public issue applications of its customers. Loan will be available to individuals for applying for IPOs and public ... More

`ING has no equity business in India' — No impact here of sale to Macquarie Bank
THE exit of the global financial powerhouse ING Group from the Asian private equities business would not have any impact on India. The ING's India representative and the Managing Director of the ING Vysya Bank, Mr Bart Hellemans, said: "There ... More

FOREIGN BANKS
ABN Amro picks India as growth centre
NETHERLANDS-based, ABN Amro Bank N.V has identified India as one among the six growth markets for its working capital business. Other than India the growth markets include China and Taiwan in Asia and Turkey, Russia and Brazil worldwide. "We ... More

CORPORATE BONDS
IDBI Flexibonds issue for Rs 500 cr
MUMBAI: IDBI is to tap the market with the Rs 500-crore `IDBI Flexibonds 21' issue. This third tranche comes under the IDBI Flexibond Umbrella Offer and will remain open for subscription between March 9 and March 29. The issue has a ... More

CREDIT MARKET
Assocham seeks better credit flow to SMEs, farm sector
`Time has come to look at moving onto a receivables-based model with a view to addressing the credit disbursement problem, especially in the services sector. Unless and until India can channel capital at productive rates, it would be unable to genera te investment and jobs needed for growth takeoff.' More

CREDIT CARDS & DEBIT CARDS
Visa promotion plan for travellers to Singapore
THE Singapore Tourism Board (STB), Singapore Airlines (SIA) and Visa International have launched the `Visa for VISA' promotion plan for Visa Platinum and International Gold cardholders. The programme offers benefits and discounts on airfares, ... More

EVENTS
India to be among the faster growing economies: Kelkar
INDIA would emerge as one of the fastest growing economies over the next two decades with an expected annual growth rate of 8 per cent, according to the Advisor to Finance Minister, Dr Vijay Kelkar. "Growth is going to accelerate in the coming ... More