MONEY & BANKING
FOREX
Rupee comes into its own
Quite possibly, the rupee's abrupt and unchecked rise could signal a shift in policy. The authorities are keen to bring down the inflation rate to 4 per cent levels, but are stymied by the relentless increase in world oil prices.
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Rupee rally sees more unhedged exposures
IMPORTERS, exporters and corporates are betting that the rupee rally would continue at least in the short to medium term, and consequently, most of them are avoiding taking a hedge on their foreign currency exposures. In fact, many feel that ...
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GENERAL INSURANCE
ECGC credit risk policies to have NIC marine cover
THE Export Credit Guarantee Corporation (ECGC) and National Insurance Company Ltd have decided to come together to provide marine insurance as an `add on' facility to exporters who opt for ECGC's specific shipment policies for comprehensive risks ...
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PRIVATE BANKS
New HDFC Bank branches in Kerala
PUBLIC SECTOR BANKS
BoI to install more ATMs in AP
VISAKHAPATNAM: Bank of India (BoI) is planning to set up ATMs shortly at Vijayawada and Guntur. This was stated by Mr J.R.V. Prasad, zonal manager, BoI, at a function to mark the setting up of the first ATM here on Monday. The ATM was ...
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INTEREST RATES
`Interest rate carry, hedging tool for PDs'
THE availability of interest rate carry would provide a hedge for primary dealers against hardening interest rates, a study by Crisil has revealed. According to Crisil, the availability of interest rate carry would help in keeping the bottom ...
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CORPORATE BONDS
Top-rated PSU bonds lapped up in a trice
THE surfeit of liquidity has triggered a virtual stampede among banks, insurers and funds for bond issues from top rated public sector undertakings. Banking sources said that the rush allowed most of the issuers to price their potential at rock ...
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SECURITISATION
IDBI securitises home loans
IDBI Bank has completed its maiden Rs 82-crore securitisation of its home loan portfolio. Coming as it does, the mortgage-backed securitisation (MBS) running into Rs 82 crore is in 3 tranches spread across seven investors, with Finolex Cables ...
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MERGERS & ACQUISITIONS
Renaissance's Dalmia picks up stake in Lakshmi Vilas Bank
MR Abhishek Dalmia of the New Delhi-based Renaissance Group has picked up a 2-per cent stake each in Lakshmi Vilas Bank and the Delhi-based real estate and construction company Unitech. Informed sources told Business Line that this would ...
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REGULATORY BODIES & RULINGS
IRDA suspends Corporate Risks India licence
THE Insurance Regulatory and Development Authority (IRDA) has suspended the licence of the New Delhi-based composite brokerage firm - Corporate Risks India Pvt Ltd (CRIPL), invoking for the first time powers vested under the regulations. In ...
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Cross Currency Rates
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