The Hindu Business Line : Saturday, December 03, 2005

SREI Infrastructure launches two financial products
SREI Infrastructure Finance Ltd on Friday launched two new financial products - `Moneybag' and `Srei Lotto' - at Excon 2005, the third construction equipment and construction technology trade fair, in Bangalore. Talking to Business ... More

FOREX

Rupee at new 14-month low
THE rupee dived to a fresh 14-month low against the dollar on Friday, in tandem with a fall in other major currencies. In the domestic market, heavy importer buying pulled the rupee down against the greenback. The rupee opened at 46.11, ... More

Forex reserves decline $3 m
THE country's foreign exchange reserves saw a modest depletion, due to a fall in foreign currency assets and the country's reserve tranche position in the IMF, for the week ended November 25. According to Reserve Bank of India's Weekly ... More

Rupee weakens; bond prices fall
MUMBAI: The rupee depreciated against the dollar on Friday, in tandem with other major currencies and on the back of importer demand. The domestic currency opened at 46.11, lower than Thursday's close at 46.00/01. It touched an intra-day ... More

INSURANCE

Bajaj Allianz cos to offer composite micro-insurance products
PRIVATE insurance companies have started designing composite micro-insurance products combining life and general insurance covers. One of the first insurers to announce the plan for the new product, to be filed under the new IRDA regulations ... More

CONSUMER FINANCE

Toyota offers 1% interest on loans for Innova buyers
TOYOTA Kirloskar has come out with a finance option that offers 1 per cent interest rate on loans for its Innova customers for a limited period of one month. Earlier, one of its dealers had come out with a free petrol offer for all Innova ... More

RBI & OTHER CENTRAL BANKS

Passport not must to encash forex up to $500
A PASSPORT will not be required for encashment of foreign currency up to $500 with effect from March 31, 2006. Instead a ration card or driving licence can be produced as proof of identification. However, a passport would be required for ... More

PUBLIC SECTOR BANKS

Indian Bank plans new model to improve rural penetration — 'Better connectivity, not more branches'
INDIAN Bank has envisioned a project for taking the banking technology to the rural areas. It is a dream project for its Chairman and Managing Director, Dr K. C. Chakrabarty, who is intent on making Indian Bank `a common man's bank'. "We are ... More

MERGERS & ACQUISITIONS

Eyes stake in Allahabad Bank-promoted venture — Karnataka Bank gears for insurance foray
THE private sector Karnataka Bank has indicated its willingness to pick up an equity stake in the general insurance venture proposed by the public sector Allahabad Bank. The proposed non-life insurance venture is still in the incipient stage. ... More

ALLIANCES & JOINT VENTURES

Indian Bank ties up with LIC to offer customers 4 products
INDIAN Bank, in association with Life Insurance Corporation of India (LIC), has launched four insurance products for its account holders - the IB Jeevan Kalyan, a life insurance policy for all customers; IB Griha Jeevan for home loan ... More

EVENTS

Mass banking with no frills is win-win for both, says Leeladhar — `RBI wants banks to reach out to all'
IN order to ensure greater financial inclusion of all sections of the population, especially the under privileged sections of society, Mr V Leeladhar, Deputy Governor of the Reserve Bank of India, has exhorted more banks to come forward and offer ... More

PUBLIC OFFER

BSE scores over NSE in ICICI Bank issue
THE ICICI Bank follow-on public issue has struck a somewhat different note on the bidding front, given the obvious supremacy of Bombay Stock Exchange in this matter, a trend that seems to have overshadowed the National Stock Exchange. As the ... More

CO-OPERATIVES

Package soon for coop banks
THE Union Finance Minister, Mr P. Chidambaram, today told the Lok Sabha that a package for cooperative banks was ready. In response to a query by the JD (U) Member, Mr Prabhunath Singh, on cooperative banks, the Finance Minister said that due ... More

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