Financial Daily from THE HINDU group of publications
Wednesday, November 23, 2005
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Financial Daily from THE HINDU group of publications Wednesday, November 23, 2005 |
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MONEY & BANKING INSIGHT 
Is there a law governing electronic fund transfers?ON MONDAY, the Reserve Bank of India (RBI) commenced the live operation of the National Electronic Funds Transfer (NEFT). Though currently only eight banks are on the NEFT network and there is only one settlement a day, the system assures instant ... More FOREX Rupee declines; securities gain MUMBAI: The rupee declined against the greenback on Tuesday in tandem with a fall in the euro and on dollar-buying by importers. The domestic unit opened at 45.80/81 and touched an intra-day low of 45.87. It closed at 45.8350/8450, down ... More GENERAL INSURANCE As depreciation pressure mounts — Private insurers opt to derisk portfolios IN a bid to mitigate pressures of depreciation on investments, private sector general insurers have taken the cue from the banking sector and begun derisking their investment portfolios. Sources said some of the private sector insurers have ... More
National Insurance premium income at Rs 3,811 crore DEBT MARKET Bond yields can only go up WE are in the era of single-digit interest rates. A glance at the G-7 countries shows that in none does the central bank rate exceed 5 per cent. Japan continues with its zero rate policy and the European Central Bank is at 2 per cent (with the ... More PRIVATE BANKS ICICI Bank opens branch at Ramnagar, Vizag VISAKHAPATNAM: A new branch of the ICICI Bank was opened here on Tuesday at Ramnagar, according to press release. It was opened by Mr N. Srikanth, the Municipal Commissioner. The bank has three branches and 16 ATMs in the city. ... More PUBLIC SECTOR BANKS SBH donates ambulance HYDERABAD: State Bank of Hyderabad has donated an ambulance costing Rs 4.66 lakh to Bharat Sevashram Sangha. The Managing Director of the Bank, Mr Amitabha Guha, inaugurated the free ambulance service to the poor and needy patients ... More FOREIGN BANKS 
HSBC opens service centre in KolkataHSBC has identified global resourcing as a major component of its international strategy in which India already plays a key role. The company, which on Tuesday opened another group service centre in Kolkata (the fifth in the country), expects ... More FINANCIAL INSTITUTIONS IRFC raises Rs 2,150 cr via term loans, taxable bonds The IRFC further plans to raise about $125 million through external commercial borrowings. More
CREDIT CARDS & DEBIT CARDS Final RBI guidelines on credit cards — Issuers must give 30-day notice for hiking charges THE credit card user in India has faced several problems, including bills not being received on time, wrong bills and, worst of all, receiving unsolicited cards. But all this may soon become history. Reserve Bank of India has issued guidelines ... More FIXED DEPOSITS 
More banks hike NRE deposit ratesMORE banks have announced an increase in the interest rates on NRE term deposits.
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