The Hindu Business Line : Monday, October 24, 2005

Andhra Bank in pact with NCMSL for loans against farm produce
ANDHRA Bank entered into an MoU with the National Collateral Management Services Ltd (NCMSL), promoted by the National Commodity & Derivatives Exchange of India (NCDEX), on Thursday for loans against farm produce. The move enables farmers to ... More

INSIGHT

Will RBI Governor stay the course?
For the financial sector as much as for the common man, the level of interest rates and the stance of monetary policy are critical. With inflationary pressures rising and the current account gap widening, the conventional remedy seems to be for the RBI Governor to increase interest rates. But will a rate hike be appropriate given its possible adverse effects on growth and fiscal balance? Assessing the dilemma before the Governor, S. Venkitaramanan explains why this is not the right time to apply the rate squeeze. More

INSURANCE

Composite insurance may soon be a reality
YOU may soon be able to insure your life as well as your motor pump by buying a single policy. The Insurance Regulatory and Development Authority (IRDA) is currently toying with the idea of allowing insurance companies to issue composite ... More

STOCKS

Bank stocks see rising FII interest
BANK stocks have been among the top performers on the bourses over the past year. Driven by good earnings and a growing economy, the banking sector has seen a significant interest from foreign institutional investors (FIIs). The RBI ... More

FINANCIAL PERFORMANCE

Srei Infrastructure Q2 PAT up 50 pc
SREI Infrastructure Finance Ltd has achieved a profit after tax of Rs 8.58 crore for the quarter ended September 30, 2005 against Rs 5.73 crore recorded in the same quarter of previous financial year, registering a growth of 50 per cent. The ... More

HOUSING FINANCE

DHFL readies realty venture fund scheme — Plans Rs 250 cr mop-up
DEWAN Housing Finance Ltd is ready to launch a real estate venture capital fund. Asserting that it has the expertise to add value in this segment, Dewan Housing recently incorporated DHFL Venture Capital. This firm's first scheme - a real ... More

LIFE INSURANCE

Aviva holds Diwali mela in Hyderabad
HYDERABAD: As part of its corporate social responsibility initiatives, Aviva Life Insurance, in association with Concern India Foundation, held a Diwali mela here on Saturday. Items such as diyas, candles, handicrafts, paintings and ... More

Birla Sun Life hikes capital by Rs 30 cr
BIRLA Sun Life Insurance (BSLI) has increased its paid-up capital to Rs 400 crore through an additional capital infusion of Rs 30 crore. According to a press release, Mr Anil Jhala, Chief Financial Officer of BSLI, said, "We are now eyeing ... More

MetLife declares maiden dividend to policyholders
METLIFE has declared its maiden dividend of three per cent per annum for its participating policyholders. This compound reversionary dividend will be applied on the sum assured of all participating policies that have been in force for at ... More

DEBT MARKET

Bond traders await Credit Policy for direction
BONDS remained subdued as traders preferred to wait for the peak season Credit Policy for signals on the direction of interest rates. Most bankers have discounted a hike in both the reverse repo rate of 5 per cent and the Bank Rate of 6 per ... More

FINANCIAL INSTITUTIONS

IIBI winding-up unlikely; may be tagged with IFCI
A frail IFCI Ltd appears to be gathering enough strength to drag along another limping institutional warhorse - the Industrial Investment Bank of India (IIBI). The Ministry of Finance has decided to tie the fate of IIBI with that of IFCI. ... More

Exim Bank signs pact with ICO of Spain
THE Export-Import Bank of India has signed a memorandum of understanding with the Instituto de Credito Oficial of Spain, to promote trade between the two countries. The MoU seeks to increase the presence of Indian companies in Spain and that ... More

CREDIT MARKET

Centre may allow post offices to disburse credit in rural areas
THE Centre is examining a proposal to allow post offices to begin disbursal of credit in the rural regions. Speaking at the launch of the platinum jubilee function of Vijaya Bank, the Finance Minister, Mr P. Chidambaram, said that a pilot ... More

FIXED DEPOSITS

Farmers' money with banks down
Their deposits in scheduled commercial banks (classified under the household sector category) were down to Rs 1,04,406 crore at the end of March 2004, according to statistics put out by the Reserve Bank of India. Deposits of farmers ... More

MERGERS & ACQUISITIONS

Left support to banking unions
THIRUVANANTHAPURAM: The Leader of the Opposition in the State Assembly, Mr V. S. Achuthanandan, has said that the Left would support the campaign of bank unions against mergers in the sector. Inaugurating a seminar on the subject ... More

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