The Hindu Business Line : Wednesday, June 15, 2005

Rupee recovers; bond prices fall
MUMBAI: The rupee recovered some of its losses on sustained selling of dollars throughout the day on Tuesday and ended trade at 43.61, against the US dollar, higher than Monday's close of 43.67. The dollar fell globally, after seven to ... More

LIFE INSURANCE

LIC to expand portfolio of mid-cap companies
LIFE Insurance Corporation of India is looking at expanding its equity investment in mid-cap companies, according to Mr K. Sridhar, Managing Director, LIC. At present, LIC has investments in 90 mid-cap companies, covering several sectors ... More

LIC Madurai division collects Rs 122 cr as first premium income
THE Madurai Division of LIC collected Rs 122.22 crore as first premium income by selling over 2.35 lakh policies during 2004-05, said the Zonal Manager, Chennai, Mr G. Prabhakara. The collections registered a growth of 68.24 per cent. The ... More

DEBT MARKET

10-year yields poised for 7.5 pc
INDIAN bonds have been on a seesaw. From the depths of 4.95 per cent, 10-year yields rose to 7.35 per cent in the course of 2003 and 2004 - not in a straight line but with significant volatility. However, after crossing 6.25 per cent, there ... More

PUBLIC SECTOR BANKS

FDI computation: Foreign stake no bar on PSBs' investment in telecom cos
THE Minister for Communications and IT, Mr Dayanidhi Maran, today said the Government would come out with guidelines on hike in foreign direct investment cap for telecom services to 74 per cent from the existing 49 per cent, in a week. "The FDI ... More

Reliance Info, SBI in pact for bill payment
RELIANCE Infocomm has tied up with State Bank of India (SBI) for online RIM bill payment through R World. As per the arrangement, an RIM user with an SBI account will be able to pay the bill directly from his account, free of charge. "Given the ... More

Central Bank pays Rs 35 cr to Govt
CENTRAL Bank of India has paid Rs 35 crore to the Government as dividend for 2004-05. The dividend cheque was presented to the Finance Minister, Mr P. Chidambaram, by the bank's Chairman and Managing Director, Mr Dalbir ... More

INTEREST RATES

`SMEs may be hit if interest rate cap on export credit is hiked'
THE Federation of Indian Export Organisations (FIEO) said on Tuesday that the proposal to hike the interest rate ceiling on export credit in foreign currency by 25 basis points may affect small and medium enterprises (SMEs) that are exporting on ... More

CREDIT CARDS & DEBIT CARDS

No prior RBI nod needed for global debit cards
BANKS that issue smart cards, store value cards or charge cards to residents travelling overseas on private or business trips need not take prior permission of the Reserve Bank of India. However, the use of such cards is limited to current ... More

MERGERS & ACQUISITIONS

Left will `win' the fight against PSB mergers
THE General Secretary of the All India Trade Union Congress (AITUC) and Member of Parliament, Mr Gurudas Dasgupta, said that the Left would win the fight against disinvestments of the Government's share in and the merger of public sector ... More

INTERVIEW

Gupta wants to raise PNB's market share to 7.5 pc
MR S.C. Gupta recently took over as Chairman and Managing Director of Punjab National Bank. Mr Gupta was earlier the CMD of Indian Overseas Bank. In a short conversation with Business Line, Mr Gupta gives his initial impressions about the ... More

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