The Hindu Business Line : Friday, February 24, 2006

Rupee gains on strong inflows
The rupee gained against the US dollar as it tracked the yen and also on strong inflows into the domestic equity market. The dollar was weak against all global currencies, due to strengthening of the yen. The yen strengthened to ... More

LIFE INSURANCE

`I-T sops must to promote insurance spread'
The Managing Director of MetLife India Insurance Company Ltd, Mr Venkatesh Mysore, has suggested certain amendments (relevant to life insurance) in the Income Tax Act, which include making Sec 80 CCC independent of Sec 80 C, necessary changes in ... More

GENERAL INSURANCE

NIC hopes to earn Rs 150 cr from bancassurance — Launches co-branded family health insurance policy with Bank of Baroda
NATIONAL Insurance Company expects to earn Rs 150 crore from bancassurance this fiscal. Mr V. Ramasaamy, Chairman and Managing Director, National Insurance Company, said that the company's bancassurance tie-ups with 16 banks would yield Rs 150 ... More

PUBLIC SECTOR BANKS

BoM launches new current a/c schemes
Bank of Maharashtra has launched two variants of its high-value current account scheme. Called Mahabank-Pearl and Mahabank-Sapphire, these schemes offer concessions in service charges allowed to the account holders across a range of services, a ... More

PNB branch in Oachira
Punjab National Bank opened its 130th branch in the State on Thursday at Oachira in Kollam district. The Secretary of the Oachira Temple Administration, Mr K. Bhargavan, inaugurated the branch at a ... More

GOVT BONDS

Bond market flat
The bond market was flat to weak after the auction of state government loans yesterday. The worry among dealers is that there are no signs of improvement in the liquidity situation. "There was no need for this auction because state ... More

NON-PERFORMING ASSETS

An alternative model for infrastructure funding — Transferring loan assets from banks by pooling securities that can be sold to investors
Securatisation is here
Banks set to play a key role in delivering infrastructure assets.
The regulator must explore and adopt new options to enhance the attractiveness and liquidity of this asset class to investors.
Some answers could be: Collateralised Debt Obligation which constitutes an asset pool with varied risk and return profiles;
Credit derivatives, a risk transfer mechanisms preferred by banks; or
Organised market syndication, an im portant mode of diversifying credit risk, that is booming globally. More

SHORT TERM INSTRUMENTS

Call rates unchanged
In the first one-day auction, the Reserve Bank of India did not receive any bids in the repo auction, but received and accepted 25 bids for Rs 12,185 crore in reverse repo. In the second auction, it received and accepted three bids for Rs 255 ... More

SECURITISATION

HFCs put on hold securitisation plans — No buyers for assets in view of tight liquidity conditions
Tight liquidity conditions have choked off the nascent housing securitisation markets in the country and potential issuers have been driven out for want of takers. Bankers said that most housing finance companies (HFCc) have put on hold their ... More

MERGERS & ACQUISITIONS

IOB sees big gains from Bharat Overseas buy-out — Wider branch network, stronger presence in Asia
Branch expansion and Bangkok operations are the twin major advantages that Indian Overseas Bank believes it will get through the proposed takeover of Bharat Overseas Bank Ltd. IOB's Chairman and Managing Director, Mr T.S. Narayanasami, told ... More

PEOPLE

Tata AIG Life appoints new MD
Tata AIG Life Insurance Company has announced the appointment of Mr Trevor Bull as its Managing Director. Prior to joining Tata AIG Life, he was the Senior Vice-President and General Manager at American International Assurance in Korea. Mr Bull ... More

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