The Hindu Business Line : Thursday, April 07, 2005

April 28 deadline set for pension panel report
THE Parliamentary Standing Committee on Finance has been set a deadline of April 28 to table its recommendations on the Pension Fund Regulatory and Development Authority Bill. In an unusual move, the Lok Sabha Speaker, Mr Somnath Chatterjee, ... More

FOREX

Rupee in range; bonds prices fall
MUMBAI: The rupee closed at 43.75/76 against the dollar on Wednesday.On Tuesday, it closed at Rs 43.78. It opened at 43.76, as the dollar weakened against the Euro overnight, said a dealer with a private bank. The Euro bounced from the ... More

STOCKS

United Western Bank gains ahead of board meet
THE stock of United Western Bank on Wednesday reacted positively ahead of the bank's board meet on Thursday. The stock finished at Rs 44.75, up 2.52 per cent, after touching a day's high at Rs 45.30 on the NSE. The bank proposes to raise Tier-I ... More

SOFTWARE

TCS systems for Dubai financial exchange
DUBAI International Financial Exchange (DIFX) has signed a contract with Tata Consultancy Services (TCS), under which TCS will supply software systems that will support clearing and settlement services for DIFX. The agreement is another ... More

LIFE INSURANCE

Private insurers reach out to rural customers
THE Life Insurance Corporation of India sells about 23 per cent (62 lakh policies) of its total number of policies in the rural areas, a segment that is integral to its social security objectives. Rural insurance, much like priority sector ... More

PRIVATE BANKS

Centurion Bank raises $80 m via GDR issue
CENTURION Bank exercised the entire greenshoe option of $10 million for their GDR issue, taking the total issue size to $80 million. After adjusting for the GDR issue, the net worth of the bank will be in excess of Rs 500 crore and the capital ... More

Dhanalakshmi Bank bond issue
KOCHI: Dhanalakshmi Bank's tier-II bonds issued on private placement basis for Rs 20 crore to strengthen its capital base has been oversubscribed. The issue, which opened on March 10 was closed on March 31, a release said. ... More

CORPORATE BONDS

AK Capital occupies top slot in handling domestic bond issues
RANKINGS have changed drastically in the world of investment bankers, with champions like IDBI Capital and UTI Bank in the domestic bonds category losing their leadership status, and AK Capital and Citigroup gaining ground. The domestic bond ... More

CREDIT MARKET

Nabard sees borrowings at Rs 14,000 cr
NABARD is targeting disbursement of Rs 9,000 crore in investment credit and Rs 12,000 crore in production credit during 2005-06, said Ms Ranjana Kumar, Chairperson. Investment credit is given for capital expenses and production credit for ... More

Banks to disburse Rs 8,019 cr to farm sector in Kerala
THE commercial banks will disburse Rs 19,336 crore to the priority sector in Kerala in 2005-06. Out of this, the disbursement to the agriculture sector will be to the tune of Rs 8,019 crore, according to the annual action plan launched at the ... More

FIXED DEPOSITS

Corporation Bank raises NRE, FCNR deposit rates
CORPORATION Bank has revised interest rates on NRE and FCNR deposits with effect from April 1. A bank release said here on Tuesday that interest rate on the NRE savings bank deposits stands increased from 2.80 per cent to 3.40 per ... More

State Bank of Mysore hikes rates
BANGALORE: The State Bank of Mysore has hiked the deposit rates for non-residents. The hikes are effective from the April 1, according to a bank release. ... More