MONEY & BANKING
FINANCIAL SERVICES
StanChart inks factoring deal with Bharat Forge
`StanChart intends to focus on factoring business. It is ready for equity tie-ups with some of the domestic factoring companies or even outright acquisition of portfolios.'
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INSIGHT
Centrality of innovation for banks
THE increased volatility in recent years suggests a torrid pace of development. Such contextual changes received an impetus through increasing integration of the productive process, rapid technological advances, ...
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FOREX
Rupee tad weaker; bond prices drop
MUMBAI: The rupee closed marginally weaker at Rs 46.3650/37 against the dollar on Monday, as against Friday's closing at Rs 46.30. Dealers said the domestic currency lost ground on demand for dollars from oil companies and other ...
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HOUSING FINANCE
SBI hikes home loan rates
IN what appears to be a clear indication that interest rates on housing loans cannot be held back any longer, State Bank of India, on Monday announced a 25 to 50 basis points hike in its fixed home loan rates with immediate effect. The ...
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A move to `fix' the loan shift
THE first indications that interest rates were bottoming out came when housing loan customers began sniffing the market for fixed rate loans about two months ago. Housing loan companies reported increased enquiries from existing customers who ...
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GENERAL INSURANCE
To offer free mediclaim cover — Medicine Shoppe in pact with Oriental Insurance
IN a bid to boost its loyalty programmes, pharma retail company Medicine Shoppe India has tied up with Oriental Insurance Company to offer free mediclaim policy to customers. This initiative follows the success of Medicine Shoppe's first free ...
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RBI & OTHER CENTRAL BANKS
RBI may dip into forex kitty to combat inflation
THE Reserve Bank of India may tap the foreign exchange reserves to combat inflationary pressures, if necessary. Indicating this, the RBI in its annual report for 2003-04, released today, said: "The comfortable level of foreign exchange ...
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`Slowdown in public investment hits farm growth'
A slowdown of investment in agriculture, particularly public sector investment, has impeded adequate private sector investment in critical areas within the sector, the Reserve Bank of India said in its annual report of 2003-04. The slowdown of ...
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Take in more overseas partners, BPO units told
INDIAN partnerships with overseas companies would pacify the protectionist reactions by developed countries, according to the Reserve Bank of India's Annual Report which was released on Monday.The BPO segment in India attracted $1 billion worth ...
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PUBLIC SECTOR BANKS
Seven banks to tie up with SIDBI
For VC fund, rating venture
SEVEN of the country's leading public sector banks are set to propel the Small Industries Development Bank of India (SIDBI) to its next orbit in funding the growth of the small and medium sector. The tie-ups with the banks, which are in an ...
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Union Bank LGs for MCX members
Dena Bank ED
FINANCIAL INSTITUTIONS
Kanara Chamber for better management of KUIDFC
THE Kanara Chamber of Commerce and Industries (KCCI) has urged the Karnataka Urban Infrastructure and Development and Finance Corporation (KUIDFC) to come out with a fool-proof operation and management policy on the assets created under various ...
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INTEREST RATES
SBT revises FCNR rates
THIRUVANANTHAPURAM: The State Bank of Travancore (SBT) has announced new interest rates for FCNR deposits in US dollars, pound sterling and euro for periods ranging from one to three years. An SBT spokesman said here that the new rates ...
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CORPORATE BONDS
Syndicate Bank mulls bond issue to raise Rs 250 cr
THE public sector Syndicate Bank is planning to raise Rs 250 crore for strengthening its Tier Two capital preparatory for the credit expansion during the peak season beginning next month. Briefing reporters here on Monday, Mr Michael Bastian, ...
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Cross Currency Rates
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