The Hindu Business Line : Tuesday, June 06, 2006

FARM CREDIT
Banks told to claim subsidy on farm credit every quarter
Banks have been asked to claim the two per cent interest subsidy on farm credit announced in the Budget, on a quarterly basis, beginning the current quarter ending June 30. In a circular issued to banks on Monday, the RBI also asked banks to ... More

FINANCIAL SERVICES
TN postal circle plans warehouse near Chennai
To introduce delivery of cash at doorstep More

Postal finance mart
The Department of Posts opened a Postal Finance Mart in Mangalore on Monday. Inaugurating the mart, Mr S.P. Rajalingam, Director, Postal Services, South Karnataka Region, said that the Department has already opened a Postal ... More

INSIGHT
Leveraging forex reserves smartly
It is time both India and China, flush with foreign exchange reserves, devised ways to use productively the funds remaining in excess of what is needed for import cover and monetary stability. For instance, to build infrastructure. More

FOREX
Rupee gains against dollar
The rupee gained against the greenback in tandem with the global weakening of the dollar against all major currencies. The rupee opened at 45.82/83 and touched an intra-day low of 45.88 and rose to end the day at 45.78, up from ... More

FINANCIAL PERFORMANCE
Catholic Syrian Bank net down at Rs 6.14 cr
The net profit of Catholic Syrian Bank for the year 2005-06 has touched Rs 6.14 crore (Rs 10.66 crore). The bank made an operational profit of Rs 36.99 crore. The bank's net advances grew by 18 per cent to Rs 2,695 crore (Rs 2,289 crore), while ... More

SOFTWARE
Malaysia's CGC deploys KASTLE
3i Infotech's universal lending solution `KASTLE{trade}' has been chosen by Credit Guarantee Corporation. Malaysia Berhad (CGC), one of Malaysia's leading Development Financial Institutions, for its business operations. The company did not ... More

LIFE INSURANCE
`Market to determine LIC's product mix'
Centralised data base for ULIPs More

GENERAL INSURANCE
Mortgage-backed term cover plans face hiccups
Home loan disbursals slowing down on tighter RBI norms More

DEBT MARKET
Bonds gain as US yields fall
The bond market began the week on a firm note with prices gaining about 20 paise by the end of trade. The whole of last week, bond prices had slipped due to fears of a possible rate hike by the central bank, a likely increase in ... More

PUBLIC SECTOR BANKS
PNB raises Rs 885 cr via bonds
Punjab National Bank (PNB) has raised fresh capital (tier-II) of Rs 885 crore to fund its expected business growth thisfiscal. The bank sold bonds aggregating Rs 885 crore to domestic investors through a bond programme that closed on May 31. ... More

SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates remained unchanged between 5.5 and 5.6 per cent. Liquidity was comfortable at Rs 70,645 crore. In the first one-day reverse repo auction under LAF, Reserve Bank of India received and accepted 30 bids amounting to Rs ... More

FIXED DEPOSITS
Punjab & Sind Bank hikes NRE, FCNR deposit rates
Punjab & Sind Bank hiked the interest rates on foreign currency non-resident (banks) deposits and non-resident external (NRE) deposits from June 1. A release issued by the bank said interest on NRE deposits has been hiked from 6.33 per cent to .. More

ALLIANCES & JOINT VENTURES
Westpac ties up with Standard Chartered
To extend banking services to each other's customers More

INTERVIEW
Home loan rates seen up 25-50 bps in 6 months
Demand not to drop with fiscal concessions for borrowers, says Keki Mistry More