MONEY & BANKING
INVESTMENT BANKING
Headstrong plans to ramp up investment banking presence
GLOBAL consultancy firm Headstrong plans to ramp up its Investment Banking Centre of Excellence in Bangalore by adding over 150 people in the current year, said the company's Managing Director for financial services vertical, Mr Sandeep Sahai. ...
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FOREX
Rupee breaches 44 mark vs $
EVERY trading day seems to mark a new closing high for the Indian rupee. The domestic currency touched a near four-year high with the deluge of dollar supply to end the day at 43.60/65 in its value against the dollar. The currency gained 46 paise ...
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INFORMATION TECHNOLOGY
BoI adopts 3-pronged method for networking branches
BANK of India has opted for a three-pronged approach for networking its branches, the bank's General Manager - Information Technology, Mr D. Krishnamurthy, told Business Line. Bank of India (BoI) recently selected Hewlett Packard ...
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STOCKS
Block deals in UTI Bank shares
UTI Bank's shares witnessed block deals involving 88.3 lakh shares (3.83 per cent stake) worth Rs 127 crore in the early half of the trading day with two FIIs, Capital Research & Management Company and T Rowe Price International Inc, picking up .
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Rajasthan Bank: Some say it's hot, some not
IS the Rajasthan Bank stock a hot cake or a hot potato? Opinions of brokers and dealers are divided. Going by the counter's volume spurt in the major bourses on Wednesday, it appeared to be in demand. The counter witnessed a traded quantity of ...
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SOFTWARE
Vijaya Bank launches core banking solution
VIJAYA Bank announced the launch of a core banking solution for its consumer and corporate banking customers. The bank is deploying Infosys' centralised banking solution Finacle while Wipro will be the prime integrator as well as provider of ...
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NBFCS
Depositors' body plea to reconstitute RBF Board
THE Annanagar RBF Depositors Association plans to request the Company Law Board to reconstitute the existing RBF Board in order to provide representation to the depositors on the board and allow them to monitor the nidhi's activities. At a ...
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LIFE INSURANCE
AMP Sanmar to look at capital infusion in 2005
AMP Sanmar Life Insurance Co Ltd will look at fresh capital infusion only in early 2005 and the funds that it has will see it through 2004, according to company officials. In February, the promoters of AMP Sanmar - the Chennai-based Sanmar ...
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FINANCIAL POLICY
Market Stabilisation Bills/Bonds — Mopping up the excess liquidity
The economy is awash with funds, and the Reserve Bank of India needs to mop it up. But the traditional methods may not be effective. Market Stabilisation Bills/Bonds are an option, says A. Vasudevan, but wants the RBI to encourage the Governme nt to contain the fiscal deficit and help implement other non-price measures such as capital account and trade liberalisation, and reduction of high-cost external debt obligations.
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RBI & OTHER CENTRAL BANKS
RBI regional director for Kerala and Lakshadweep
THIRUVANANTHAPURAM: Mr Krishna Mohan has taken charge as the Regional Director of the Reserve Bank of India for Kerala and Lakshadweep, it was formally announced here. Prior to this appointment, Mr Mohan was working with the Department ...
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RBI finalises WMA limit
THE Reserve Bank of India, has in consultation with the Government of India, fixed the limit for the ways and means advances (WMA) to the Government at Rs 10,000 crore for the first half of the year (April to September) and Rs 6,000 crore for the ...
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PUBLIC SECTOR BANKS
Syndicate Bank trims floating loan rates
A bank release said here today that the realignment would lead to a reduction in the interest rates for retail customers by as much as 50 basis points. The reduction would be available to those customers who have availed of floating rate interest ...
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Ashok Kini takes over as State Bank MD
FINANCIAL INSTITUTIONS
IDFC MD Munjee's resignation accepted
THE Chairman of Infrastructure Development Finance Company (IDFC), Mr. Deepak S. Parekh, on Wednesday accepted the resignation of the company's Managing Director and Chief Executive Officer, Mr. Nasser Munjee. Mr Munjee, who had put in his ...
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GOVT BONDS
`Valuation deals' in securities
G-Sec prices moved up by about 10-20 paise on Wednesday as `valuation deals' were struck to prop up prices. Traded volumes were high at over Rs 5,000 crore. Valuation deals are transactions struck between market players in an effort to prop ...
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Most State PSUs miss SEBI deadline on bonds
The outstanding State Government guaranteed bonds now amount to over Rs 2 lakh crore.
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7-day repo may see call rates easing
AS the new seven-day repo facility gets stabilised, inter-bank call money rates are expected to fall and g-secs and bonds may find renewed trading interest in the coming fiscal. According to Mr Sudhir Joshi, Head-Treasury, HDFC Bank, "With the ...
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CREDIT MARKET
HDFC Bank aims to double its microfinance
HDFC Bank expects its microfinance portfolio to double to Rs 50 crore in 2004-05. It is a smallish portfolio, but very profitable and is growing by 100 per cent every year, Mr N.S. Kishore Kumar, Head-Agricultural Business and Micro Finance, told ...
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SECURITISATION
Citigroup completes revolving securitisation
CITIGROUP has completed India's first revolving securitisation issuance for its small and medium enterprises working capital loans. The fixed rate issuance of Rs 50 crore comprised two series of pass through certificates with bullet maturity of ...
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Cross Currency Rates
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