The Hindu Business Line : Tuesday, May 23, 2006

Rupee volatile against dollar
The rupee was volatile against the dollar tracking the tremors on the domestic stock market. The rupee opened weaker at 45.69/72, lower than Friday's close at 45.56/57. It then dipped to an intra-day low of 45.82 but recovered to ... More

LIFE INSURANCE

LIC comes to the rescue?
Institutions likeLIC appear to have come to the rescue of the stock markets when it suffered its steepest fall on Monday. According to LIC officials, the PSU insurer bought stocks in excess of Rs 100 crore on Monday and around Rs 180 crore on ... More

DEBT MARKET

Mutual funds ignore equity for debt at peak levels
Guess where the mutual funds were parking the funds they mobilised in recent times through equity schemes? While the mutual funds were buying into equity markets in a small way, the domestic fund houses have been major buyers of debt over the ... More

Bonds range-bound
The bond market was range-bound and prices moved in a 15-paise band in the absence of any positive factors. The falling equity market is affecting sentiments in the bond market. "The fear is that if major players such as LIC step ... More

RBI & OTHER CENTRAL BANKS

RBI pitches in to iron out payment glitches
Settlement banks assured of liquidity support More

PRIVATE BANKS

UTI Bank plans more branches
Keen to expand rural reach More

PUBLIC SECTOR BANKS

Stock slide unlikely to dent PSBs
Exposure to stocks limited, say bankers More

Indian Bank launches DP services
Indian Bank has launched its Depository Participant services. There are two main implications of this new service. First, it will be another service offered to the bank's 1.15-crore retail customers and also fetch the bank commission income. ... More

IOB opens first field GM office in Kochi
Branches in 6 other cities by June-end More

Singapore branches get ACU licence
The Singapore branches of Indian Overseas Bank and Indian Bank have got `ACU licence'. Getting the Asian Currency Unit licence effectively means an upgrade in the level at which the branches operate. For example, the branches will now be allowed ... More

Bill in LS to enable SBI to cut stake in subsidiaries
Bill would also enable subsidiary banks to raise resources from the market More

CREDIT MARKET

Striking the fine balance
Monetary policy-making More

IOB initiative frees villagers from moneylenders
Bank creates awareness through sensitisation camps More

SHORT TERM INSTRUMENTS

Call rates steady
Call rates were stable at 5.5-5.6 per cent. In the first one-day reverse repo auction under LAF, the RBI received and accepted 31 bids amounting to Rs 27,655 crore and 40 bids amounting to Rs 30,720 crore in the second auction. ... More

INTERVIEW

`Rupee could fall to 47.50 against dollar by year-end'
Current account deficit to extract its price, says Rajeev Malik of JP Morgan Chase Bank More

IPOS

Indian Bank IPO not until capital reduction
Indian Bank will not come out with its initial public offering unless it is able to bring its Rs 743-crore capital further down, either by way of converting a part of the equity capital into preference, or by returning part of the capital to the ... More

Cross Currency Rates