The Hindu Business Line : Sunday, June 05, 2005

Quanto swap
ACCORDING to Reserve Bank of India's (RBI) recent directive, banks can continue to offer MIFOR-based swaps including quanto swaps. What is a quanto swap? Suppose as the treasurer of a big company, you are a keen follower of yield curves. These ... More

FOREX

Forex reserves rise by $175 m
THE foreign exchange reserves have risen for the first time after a steady decline for four weeks due to an increase in forex inflows. For the week ended May 27, the country's forex reserves rose by $175 million to touch $139.829 billion, ... More

GENDER

Women's Accounts
IF you are a woman who values financial independence, you certainly would like to have your own savings account. If you have not opened one already, you may want to consider accounts that are tailored for your special needs. Over the past ... More

PUBLIC SECTOR BANKS

Banks must find newer ways to raise capital: Chidambaram
A DAY after he ruled out dilution of Government stake below 51 per cent in public sector banks, the Union Finance Minister, Mr P. Chidambaram, said that banks must explore innovative ways of finding new capital. Speaking at the bicentennial ... More

PSBs can raise more capital without Govt stake dilution
EVEN without the dilution of Government stake to less than 51 per cent, listed public sector banks should be able to raise more than Rs 30,000 crore in additional capital (equity plus debt) with their current financials. That should enable ... More

BoB raises $150-m syndicated loan
BANK of Baroda has raised a syndicated loan of $150 million from the international market at a rate of 30.6 basis points over LIBOR for one year, said a press release from the bank. It will be utilised by the bank for funding assets for its ... More

Union Bank of India: Buy
ONE CAN consider an investment in the stock of Union Bank of India. The stock trades at a price-to-book ratio of 1.5 times. This is at the higher end of the spectrum, considering the valuation of other public sector ... More

IOB hikes interest rates on NRE deposits
Indian Overseas Bank has hiked the interest on non-resident (external) — NRE — term deposits for one year to less than two years by 10 basis points effective from June 1. The new rates valid for one month up to June 30, are 4.3 per ... More

CREDIT MARKET

Banks must hike lending to SME, agri sectors: PM
BANKS should expand their credit portfolio to increase lending to small and medium industries, said the Prime Minister, Dr Manmohan Singh. Addressing a function to mark the bicentennial celebrations of State Bank of India on Saturday, Dr Singh ... More

Policy statement on credit to SMEs soon, says Chidambaram
THE Finance Minister, Mr P. Chidambaram, intends to make a detailed policy statement on credit to the small and medium enterprises (SMEs) sector later this month. "The statement would set out the policy guidelines and parameters for ... More

SHORT TERM INSTRUMENTS

RBI proposes to raise Rs 2500 cr under MSS
THE Reserve Bank of India has proposed to raise Rs 2,500 crore through the auction of 91-day and 364-day treasury bills, under the market stabilisation scheme, said an RBI press release. Of this, Rs 1,500 crore will be raised through the ... More

CREDIT CARDS & DEBIT CARDS

Rewards Bonanza from ABN Amro
ABN Amro Credit card-holders have a chance to earn rewards. For every Rs 50 you spend, you'll earn one reward point. You can redeem your points against any of the exciting gifts mentioned in the rewards catalogue. The programme is loaded with new ... More

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