MONEY & BANKING
FOREX
Rupee weakens on heavy dollar buying
MUMBAI: The domestic currency closed 25 paise weaker on Thursday at 44.40/42 per dollar in the forex market against its closing at 44.15/17 on Wednesday . After opening the day at 44.20/22 the rupee touched an intra-day low of 44.49 ...
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LIFE INSURANCE
OM Kotak Life posts 263-pc rise in premium
OM Kotak Mahindra Life Insurance (OM Kotak) has recorded a 263 per cent growth in its premium income for the financial year ended March 2004 at Rs 127 crore as against Rs 35 crore in the previous fiscal. "The key drivers for this growth have ...
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`Million dollar' agents: MNYL hopeful of visas
THOUGH rumours are rife about a possible restriction in issuance of visa for the Million Dollar Round Table (MDRT) agents to attend the annual convention in the US in June this year, Max New York Life is confident of its qualifying agents ...
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RBI & OTHER CENTRAL BANKS
IBRD ready to offer more loans to India
The assistance on offer for the year 2004-05 could be in the range of $3 billion-$4 billion, according to Mr C.M. Vasudev, Executive Director for India at the World Bank. "The total assistance that we can offer for 2004-05 could be around $3 ...
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FOREIGN BANKS
StanChart kicks off real time settlement
THE second leg of the Real Time Gross Settlement (RTGS) system has gone live, with customer transaction getting settled instantaneously. Standard Chartered Bank is the first to commence the new facility. The first RTGS customer transaction of ...
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FINANCIAL INSTITUTIONS
IFC in talks with MahaMumbai SEZ
THE International Finance Corporation (IFC) said on Thursday that it is in talks with the promoter of the MahaMumbai Special Economic Zone (MMSEZ) for taking an exposure in the project. The SEZ would be located adjacent to the Jawaharlal Nehru ...
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GOVT BONDS
Liquidity continues to surge with no Govt borrowings in sight — RBI may deploy prepayment bonds for mop-up
The sale is being resorted to as there are still no indications of any fresh round of borrowings by the Government. The auctions for one round of borrowing were postponed earlier this month.
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Cross Currency Rates
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