ECONOMY
Is 2.5 pc Greenspan's neutral rate?
The US has taken a decisive turn to the (extreme?) right on foreign policy and social issues. What about the economy? A Republican President presides over a spiralling fiscal deficit. His party has historically been a strong advocate of ... More

FOREX
Bond prices rise; rupee unchanged
MUMBAI: Bond prices rose by nearly 75 paise in medium term papers as market sentiment improved after Tuesday's dated securities auction received a good response. Dealers said that current price levels seemed comfortable for buying bonds. ... More

CONSUMER FINANCE
Andhra Bank hardsells retail products
THE Andhra Bank is currently on a campaign to sell its retail products aggressively and the drive will continue for two more months, Mr K. Subhash Chander Reddy, General Manager, has said. He was addressing a press meet here on Monday evening ... More

LIFE INSURANCE
MetLife raises capital to Rs 235 cr
PRIVATE sector life insurance company MetLife India has increased its paid-up capital by Rs 75 crore to Rs 235 crore. The capital infusion has been done in view of the increase in business, Mr Venkatesh Mysore, Managing Director, MetLife, ... More

PUBLIC SECTOR BANKS
Union Bank on reforms mode; redesigns products
UNION Bank of India has kicked off an internal reformation process aimed at "making all customers profitable by suitable charges, balance upgradation or process redesign." A series of changes has been envisaged in the design of products as ... More

Shorter maturity, reduced holdings — PSBs changing tack on investment portfolios
PUBLIC sector banks have taken the lead of their private sector peers and begun shrinking the average maturity of their investment portfolio. The maturity of investment portfolio of the PSU banks normally range between 7 and 8 years compared ... More

CREDIT MARKET
`Commercial banks' credit flow to rural, areas declining'
THE commercial banks' credit allocation was heavily tilted in favour of metropolitan areas rather than the semi-urban and rural areas where 70 per cent of total Indian population reside, the Associated Chamber of Commerce and Industry (Assocham) ... More

CREDIT CARDS & DEBIT CARDS
Credit card cos up adspend
Cedit card advertising in print rose by 27 per cent and television by 6 per cent. More

FIXED DEPOSITS
Bank of India hikes deposit rates
BANK of India today announced an increase in interest rates on domestic rupee deposits by 25-50 basis points across various maturities. Bank of India is the first among public sector banks to announce interest rate hikes on deposits. These new ... More

REGULATORY BODIES & RULINGS
Pension funds' floor capital may be set at Rs 50 crore
AMIDST divergent figures on capital requirements proposed by different reports on pension reforms, the interim Pension Fund Regulatory and Development Authority (PFDRA), in its internal discussions, is considering setting Rs 50 crore as the floor ... More

Insurers can invest in big ticket IPOs
CLOSE on the heels of the new Government's decision to go in for further disinvestment in major State-owned corporate giants, the Insurance Regulatory and Development Authority (IRDA) has relaxed the investment guidelines for the insurance ... More

RIGHTS ISSUE
Karnataka Bank board okays rights issue
THE board of the directors of Karnataka Bank Ltd has decided to issue equity shares on rights basis. The board, which met in Bangalore on Tuesday, has taken a decision in this regard, according to its Chairman and Chief Executive Officer, Mr ... More