The Hindu Business Line : Wednesday, May 31, 2006

FOREX
Re touches new six-month low
Continuing its downward movement, the rupee on Tuesday touched a new low against the US dollar in six months. Selling by FIIs in equities and a fear of dollar shortage pushed the rupee down for the second day in a row, said dealers. Banks ... More

Market collapse: Yen carry trade the culprit?
To attribute the collapse of the stock market to the unwinding of yen carry trades seems an oversimplification. More

INFORMATION TECHNOLOGY
Corporation Bank launches new product
Corporation Bank intends making its inter bank funds transfer arrangements international. Speaking to reporters at the launch of the bank's inter bank funds transfer product branded as "CorpBullet", the Corporation Bank Chairman and Managing ... More

GENERAL INSURANCE
Weather cover launched for grape growers
ICICI Lombard policy to benefit 4 Maharashtra districts More

HUMAN RESOURCES
JNIDB plans foray into consultancy, research
IDBI arm's training programmes in great demand More

PUBLIC SECTOR BANKS
Bank of Baroda fined Rs 5 lakh
The Reserve Bank of India on Tuesday imposed a fine of Rs 5 lakh on Bank of Baroda for violation of SLR and CRR norms. According to the RBI, the bank "had netted items representing internal and external liabilities in the ... More

GOVT BONDS
Bond prices fall 5 paise
The bond market was dull with prices falling about 5 paise since Monday's close. While the negatives continued to be fears of a likely hike in domestic fuel prices and the auction scheduled for early next week, the positive ... More

NON-PERFORMING ASSETS
V-Adalat for Vijaya Bank's NPA issues
Vijaya Bank is planning to introduce `Vijaya Adalat' (V-Adalat) on the lines of Lok Adalat to tackle the NPA menace. Addressing presspersons here on Monday, Mr Prakash P. Mallya, Chairman and Managing Director, said the bank wants to give a ... More

CREDIT MARKET
SBI ties up with CARE India
State Bank of India (SBI) and development agency, CARE India, have announced a strategic partnership to scale up the latter's efforts in micro-finance. As part of SBI's priority sector lending, it will further expand its ... More

SHORT TERM INSTRUMENTS
Call rate remains steady
Call rates continued to hold steady at 5.5-5.6 per cent, owing to good liquidity. In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 34 bids amounting to Rs 37,345 crore and in ... More

MERGERS & ACQUISITIONS
SBI to buy 2 banks overseas
State Bank of India expects to complete the acquisition of Giro Commercial Bank of Kenya and PT Bank IndoMonex of Indonesia in the next two months. "We will acquire these two banks in two months time," Mr A.K. Purwar, Chairman, SBI, told ... More

TRADE & LABOUR UNIONS
New chief for AIBOC unit in AP
The Chairman of Associate Banks Officers Association (ABOA) for State Bank of Hyderabad unit, Mr Harshavardhan Madabushi, has been elected as President of All India Bank Officers Confederation (AIBOC), Andhra Pradesh unit. In a ... More

EVENTS
Kalam urges SBI to step up agri credit
`Banks must shift to rural-centric mode for faster economic growth' More