The Hindu Business Line : Wednesday, March 29, 2006

Full Convertibility: Mundell and impossible trinity
Critics claim that full convertibility or capital mobility and freely floating exchange rates are inimical to India's interests. They refer to Britain's crisis in 1992 and the Asia's in 1997 to buttress their criticism. But G. RAMACHANDRAN says tha t the critics are wrong on three counts, and calls on Nobel laureate Robert Mundell's theory to back his claim. More

FOREX

Rupee firms up vs dollar
The rupee strengthened on Tuesday on steady US dollar inflows and as the central bank stayed away from the market, said dealers. the rupee opened at 44.70/71 and touched a low of 44.75 before closing at 44.64, against the ... More

`Drop full capital account convertibility plan'
A number of economists have urged the Government to desist from introduction of full capital account convertibility. Any such move would be "unnecessary and dangerous" and expose the Indian economy to extreme volatility, said economists ... More

SOFTWARE

CashTech tool for Thai bank
CashTech Solutions has announced its partnership with TMB Bank, Thailand, to provide cash management solutions. TMB Bank will use the company's TransactCashIn to provide services in the areas of collections, receivables and ... More

HOUSING FINANCE

Genworth to launch mortgage guarantee project
$50-million plan gets FIPB nod More

PUBLIC SECTOR BANKS

IOB raises Rs 200 crore of perpetual bonds
First bank to use this route More

Tax payments after banking hours
Offices of the Reserve Bank of India and other public sector banks will accept tax payments after banking hours on March 31, 2006. RBI offices will accept cash payments for tax at the Mumbai and Navi Mumbai offices up to 4 p.m. and cheques up ... More

INTEREST RATES

Fed nears rate peak
Market watch on Bernankespeak More

GOVT BONDS

Bond prices fall
In the bond market, prices fell and the traded volumes were thin. Dealers said the fact that the RBI meeting with IBA sub-committee did not discuss the issue of a cut in the Cash Reserve Ratio to improve liquidity, dampened ... More

SHORT TERM INSTRUMENTS

Call rate ends at 5.8-6 pc
The call rate closed at 5.80-6 per cent (6-6.25). In the one-day repo, under the liquidity adjustment facility, the RBI accepted three bids, amounting to Rs 1,350 crore. In the second auction, the central bank accepted 11 bids ... More

FIXED DEPOSITS

Interest rate ceiling on FCNR (B) deposits hiked
The Reserve Bank of India (RBI) on Tuesday hiked the interest rate ceiling on FCNR (B) deposits by 25 basis points. The RBI decision assumes significance, as an increase in the interest on FCNR (B) deposits were among the measures sought for ... More

IPOS

State Bank of Hyderabad IPO in next fiscal
To shed 49 pc in 2 phases More

CO-OPERATIVES

Cosmos bank's issue shores up share capital
Cosmos Cooperative Bank Ltd, the second largest multi-state cooperative bank in the country, has decided to increase its share capital to meet the RBI's BASEL-II norms that are applicable on all banks next year. Additional shares were offered ... More

VENTURE CAPITAL

SKS Microfinance gets Rs 11-cr funding
Expand reach to 7 lakh clients More

OUTLOOK

Bankers meet Reddy, discuss tight liquidity
No talk on CRR cut More

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