The Hindu Business Line : Thursday, August 04, 2005

Nabard to continue `carrot and stick' policy on resetting rates — Seeks Rs 14,000 cr from Govt to offset loss
THE National Bank for Agriculture and Rural Development (Nabard) will continue to reset its rates for select States, ones that are willing to meet stiff conditions set by it. In the process, it will take a hit. Meanwhile, it has sought about ... More

FOREX

Rupee moves up; bonds decline
MUMBAI: The rupee moved up by eight paise on Wednesday as the greenback lost against other currencies globally. Good inflows into the stock markets also helped. The rupee opened at 43.52/53.43 and closed at 43.44, against Tuesday's ... More

GENERAL INSURANCE

Bajaj Allianz General out of race for FACT cover — TRAI upholds rivals' contention
BAJAJ Allianz General Insurance Company is out of the race for providing fire insurance cover for the plant and machinery as well as building of the Fertiliser and Chemicals Travancore Ltd (FACT) ammonia complex. The insurance company, which ... More

Insurers apprehend bigger dent from Mumbai claims — Defaults in Fac Re arrangements seen
INUNDATED with large claims, domestic non-life insurers are faced with the prospect of meeting the settlement liabilities directly from their own balance sheets. Sources said that this was because some of the insurers have entered into ... More

PUBLIC SECTOR BANKS

Andhra Bank to fund purchase of New Holland tractors
ANDHRA Bank has tied up with New Holland Tractors (India) Pvt Ltd for tractor financing. The Andhra Bank Executive Director, Mr R. Balakrishnan, exchanged an MoU with the New Holland Marketing Director, Mr D.K. Dhamija, to this effect here on ... More

SHORT TERM INSTRUMENTS

T-bills auctions fully subscribed
THE auctions of the 91-day and 364-day Treasury Bills were fully subscribed, according to a press release from Reserve Bank of India. The notified amount for both T-bills was Rs 2,000 crore. For the 91-day T-bills, RBI received 58 ... More

MERGERS & ACQUISITIONS

Centurion, Bank of Punjab shareholders okay merger
THE shareholders of Centurion Bank and Bank of Punjab, at their extraordinary general meeting held today, approved the proposed merger of the two banks. The share swap ratio has been fixed at nine shares of Centurion Bank for every four shares ... More

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