The Hindu Business Line : Thursday, May 04, 2006

Rupee dips against dollar
The rupee depreciated against the dollar on the back of oil-related demand for the greenback. The domestic currency opened at 44.84/85 and ended at 44.90, lower than Tuesday's close at 44.990. Dealers said the rupee was ... More

FINANCIAL PERFORMANCE

State Bank of Mysore plans stock split
Net porfit for fiscal up 5 per cent More

SBBJ posts lower net
The State Bank of Bikaner and Jaipur has reported a net profit of Rs 145.03 crore for the year ended March 31, 2006, as compared to a net profit of Rs 205.65 crore recorded in the previous year. A statement issued by the bank said that the ... More

LIFE INSURANCE

T.S. Vijayan is LIC Chairman
Mr T.S. Vijayan, Managing Director, Life Insurance Corporation, has taken over as Chairman of the Corporation, effective May 3. At 53, Mr Vijayan is the youngest ever Chairman of LIC. Mr Vijayan began his career in LIC as a direct recruit ... More

GENERAL INSURANCE

Non-life insurers active in bulk deposit, CBLO markets
Policy renewals get them large premium inflows More

RBI & OTHER CENTRAL BANKS

RBI watching oil prices: Reddy
The Reserve Bank of India has said that it is carefully watching the oil prices. Talking to reporters on the sidelines of the 39th Annual Meeting of ADB Board of Directors here on Wednesday, Dr Y.V. Reddy, the RBI Governor, ... More

PUBLIC SECTOR BANKS

Oriental Bank looking at insurance
After GTB, focus shifts to diversification More

INTEREST RATES

Beating a plateau
Deposits in Non-Resident (External) Rupee Accounts, also known as NR(E)RA, stood at $21,291 million, according to the April 2006 Bulletin from the Reserve Bank of India. In 2000, the amount was $6,758 million. This grew gradually ... More

Canara Bank hikes PLR
Canara Bank has increased its benchmark prime lending rate (BPLR) and also the rates for housing loans from March 5. The bank said it has raised the PLR by 50 basis points to 11.5 per cent; interest rates on housing loans have ... More

GOVT BONDS

Bonds turn bearish
The bond market was bearish due to the hardening of the US yields and global crude oil prices. "High oil prices and the hardening of the US yield to 5.13 per cent caused bond prices to fall. The RBI governor's statement on ... More

Guidelines on `when issued' gilts trading
The Reserve Bank of India has issued guidelines on trading in government securities on `When Issued' (WI) basis by select participants. `When Issued', a short form of `when as and if issued', indicates a conditional transaction in a security ... More

CREDIT MARKET

DCB focus on retail advances
Development Credit Bank's (DCB) advances book of Rs 2,800 crore is mostly made up of corporate advances. The bank wants to change this. "We have decided to focus on retail credit," Mr P.N. Vasudevan, Head - Consumer Banking Group, said on ... More

SHORT TERM INSTRUMENTS

Call rate unchanged
The call rate closed unchanged at 5.5-5.6 per cent. In the first one-day reverse repo auction under LAF, RBI received and accepted 32 bids amounting to Rs 27,865 crore and 39 bids for Rs 42,855 crore in the second auction. There ... More

FIXED DEPOSITS

More banks hike NRE rates
Federal Bank, Dhanalakshmi Bank and Lord Krishna Bank have raised interest rates on NRE deposits of various maturities.The interest rates on deposits of one to two years tenure is 6.33 per cent (6.30 per cent), on two to three ... More

EVENTS

ADB working towards expanding ICT use
The information communication technology (ICT) sector is playing a pivotal role in creating technology hubs and forming a digital bridge among nations, according to experts at the Asian Development Bank meet here. The ADB, along with its member ... More

`AP to look at ADB funds at appropriate time'
How does Hyderabad benefit from hosting the Asian Development Bank (ADB) meet? Has the State Government made concrete proposals to secure funding for its ambitious projects? Confronted by these questions, three senior Ministers in the Andhra ... More

Only `non-answers' from ADB chief for activists
On issues of violation of environmental safeguards More

Cross Currency Rates