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Tuesday, July 19, 2005
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INSIGHT


Liberalised Exchange Rate Management System — The story of India's Gulf crisis
JULY 12, 1991, was a red-letter day in the history of the Indian economy but not in any happy sense. It marked the nadir in the external sector. The balance-of-payments bottomline was reached. The foreign currency ... More

Unravelling the outsourcing puzzle
The recently released Annual Trade Report of the WTO focuses on a contentious area of trade in services. A separate chapter examines the offshoring of services, especially of IT, from the US to India. In this edition of Macroscan, C. P. Ch andrasekhar and Jayati Ghosh examine the WTO's effort to unravel the outsourcing puzzle and assess its implications. More

FOREX


Rupee weakens; bond prices up
MUMBAI: The rupee slightly weakened against the dollar on Monday on demand from oil importers and other corporates. It opened at 43.53/53 and touched an intra-day low of 43.55 before ending the day at 43.54/55, lower than Friday's close ... More

NBFCS


RBI okays FII buying in Reliance Capital
MUMBAI: The RBI has issued a notification giving permission for the purchase of equity shares of Reliance Capital by foreign institutional investors under the portfolio investment scheme. The press release states that since FII holdings ... More

LIFE INSURANCE


PNB set to enter life insurance
AT a time when a section of the existing life insurance players prepare to exit from the intensely competitive market, new and strong players are warming up to take on the challenge. Among the first of the new set of entrants could well be ... More

CREDIT RATING


Crisil begins bank loan rating
The ratings will provide a uniform benchmark for credit and pricing decisions in the bank loan market, focusing on both the risk of default, and the likelihood of ultimate recovery in the event of default. More

PRIVATE BANKS


CDs popular with pvt banks
PRIVATE and foreign banks are increasingly taking the certificates of deposit route to raise funds, as they find it cheaper than the savings and fixed deposits they garner. According to the Reserve Bank of India's Weekly Statistical Supplement, ... More

IndusInd Bank plans foray into rural areas
IN what could be the first such experiment among the new generation private sector banks, IndusInd Bank has plans to open branches in rural Kerala. To start with, the bank plans to open a branch in Kattappana or Thodupuzha before the end of the ... More

FOREIGN BANKS


UBS plans to set up centre in Hyderabad
The Andhra Pradesh Information Technology and Communication Secretary, Ms. K. Ratna Prabha, in a statement said UBS is the first Switzerland-based bank and European bank outside the UK announcing its move to set up operations in Hyderabad. ... More

GOVT BONDS


India Post expands services — To deal in Govt securities, seeks nod for banking operations
THE Postal Department has started retailing Government of India securities following a tie-up with IDBI Capital Market Services Ltd. Launching the service here today, the Union Minister for Communications and Information Technology, Mr ... More

2021 Govt paper oversubscribed
Dealers said that the cut-off price at Rs 122 was higher than market expectation, which was Rs 121.50. The bond prices rose by 30 paise to Rs 1.50 during the day as a result of this. The notified amount for the paper was Rs 5,000 crore. The ... More

CREDIT MARKET


Banks in Kerala measure up to credit needs of the hour
THE face of the housing finance sector in India has undergone an unprecedented makeover in the past five years. The importance of the housing sector can be judged by the estimate that for every rupee invested in the construction of houses, Re ... More


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