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Saturday, April 01, 2006
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MONEY & BANKING

MERGERS & ACQUISITIONS


Consolidation is strength, Chidambaram tells PSBs
RBI looking into cash reserve ratio; economy on high growth path More

FOREX


Forex reserves surge $2.5 b
RBI active in the market More

Rupee gains slightly
The rupee slightly gained against the dollar on Friday on the back of inflows into the market. The domestic currency opened at 44.60/62 and slipped to 44.65. It finally closed at 44.61/62, down from 44.69 on Wednesday. Dealers ... More

CONSUMER FINANCE


Motorola, GE Money in handset financing deal
Available in 10 major cities for hi-end handsets More

GENERAL INSURANCE


AI to invite bids from insurance cos soon
Air India is to soon invite bids from public and private sector insurance companies to finalise the insurance cover for its fleet of about 50 aircraft for the year 2006-07. "The bid documents will lay down various technical parameters ... More

PRIVATE BANKS


Wipro Infotech bags HDFC Bank deal
Wipro Infotech, the domestic IT services arm of Wipro Ltd, said on Friday that it has won a 10-year, Rs 360 crore IT outsourcing deal from HDFC Bank. The deal is said to be the largest outsourcing deal for Wipro Infotech in the country. The ... More

Karnataka Bank 5th branch in Goa
Karnataka Bank Ltd opened its fifth branch in Goa recently. A bank release said here that Mr Pandurang Arjun Madkaikar, Goa Minister for Transport, Sports and Youth Affairs, inaugurated the branch at Ponda in Goa recently. Mr ... More

GOVT BONDS


Bonds remain bearish
The bond market ended the last day of the fiscal on a weak note with the prices of some G-Secs touching levels last seen in May 2005, said dealers. There was lack of interest among market players to take fresh positions, as it ... More

CREDIT MARKET


Bank credit up by Rs 22,706 cr
Gross bank credit increased by Rs 22,706 crore to touch Rs 14,42,591 crore for the fortnight ended March 17, according to Reserve Bank of India's Weekly Statistical Supplement. This is inclusive of food credit, which increased ... More

SHORT TERM INSTRUMENTS


Call rates close at 6.75-7 pc
Call rates ended at 6.75-7 per cent against Wednesday's close of 6-6.2 per cent. In the three-day reverse repo, under the liquidity adjustment facility, RBI received and accepted five bids, amounting to Rs 2,305 crore and 12 bids ... More

FIXED DEPOSITS


Union Bank hikes FCNR deposit rates
Union Bank of India has increased the interest rates on FCNR(B) term deposits by 25 basis points, with effect from March 29. The interest rate on dollar deposits of one-two years is 5.15 per cent (4.7 per cent). For two-three ... More

ALLIANCES & JOINT VENTURES


Kotak Mahindra, HDFC Bank to share ATMs
HDFC Bank and Kotak Mahindra Bank have tied up to share their ATM networks. This will give customers of the two banks access to over 1,400 ATMs across the country. HDFC Bank has 1,335 ATMs across 228 locations in the country and Kotak Mahindra ... More

VENTURE CAPITAL


ICICI Venture to raise $750 m for India Advantage Fund VI
Gets FIPB nod; awaits final clearance from CCEA More

OUTLOOK


Treasuries portfolio to drag down banks' profitability
Depreciation charge rises as yields harden More

PEOPLE


Corporation Bank new CMD
The Union Government, in consultation with the Reserve Bank of India, has appointed Mr B. Sambamurthy as the Chairman and Managing Director of Corporation Bank. He is assuming office on April 1. Mr Sambamurthy, a Chartered ... More
Personal Computing resouces Hawaii Vacations - Hanalei Bay Resort



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