The Hindu Business Line : Saturday, June 24, 2006

FOREX
Forex reserves up $157 million
The foreign exchange reserves have gained a marginal $157 million for the week ended June 16, due to a rise in the foreign currency assets. According to the Reserve Bank of India's Weekly Statistical Supplement, the reserves have increased to ... More

Rupee volatile; ends unchanged
The rupee was choppy against the US dollar, but ended almost unchanged from the previous close on Friday. The rupee opened at 45.20 and touched a low of 46.26 before closing at 46.12/13, the same as Thursday's close. "There ... More

NBFCS
Cholamandalam opens office in Secunderabad
Cholamandalam DBS Finance Ltd has launched its personal finance branch in Secunderabad. It is the first of the three such branches planned for Hyderabad and Secunderabad this month, according to Mr Atul Pande, Managing Director. ... More

LIFE INSURANCE
Oriental Bank plans life insurance foray
Open to venture with specialist outfits, including overseas partners More

GENERAL INSURANCE
Reinsurance to BAG's rescue
Mumbai flood claims at Rs 1,000 cr More

IFFCO-Tokio premium revenue up
IFFCO-Tokio General Insurance Co Ltd (ITGI) has reported premium revenues of Rs 896 crore for the year ended on March 31, 2006, up by 79 per cent from 2004-05 and a profit before tax of Rs 24.1 crore. ITGI increased its ... More

CREDIT RATING
Fitch, United Bank in ratings pact
Fitch Ratings on Friday signed an MoU with United Bank of India for SSI ratings. The tie-up will enable the bank increase its lending to the small scale sector. It will also help it take quick decisions while lending to SSI ... More

DEBT MARKET
10-year yields cross 8.2 pc
Bearish sentiment in the bond market continued due to the higher inflation figures, with the yield on the 10-year benchmark paper crossing 8.2 per cent. Inflation released on Friday was at 5.24 per cent, higher than the ... More

PUBLIC SECTOR BANKS
Scrapping interest on CRR balance may hit banks
RBI move to impact profitability More

Oriental Bank up on growth hopes
The Oriental Bank of Commerce stock is believed to be gaining from the bank's proposal to step up its network and its expectations on credit growth. OBC, which closed on the NSE at Rs 169.80, recorded a 2.5 per cent gain on Friday, the total ... More

SBI office close to Nathu La in Sikkim soon
To facilitate trade with China by land route More

CORPORATE BONDS
IRFC mops up Rs 810 cr through bonds
Indian Railway Finance Corporation (IRFC), the finance raising arm of Indian Railways, has raised Rs 810 crore through bonds issue in the domestic market recently. IRFC is budgeted to raise a total amount of Rs 4,170 crore for Indian Railways in ... More

CREDIT MARKET
Gross bank credit rises by Rs 17,452 cr
Gross bank credit increased by Rs 17,452 crore to touch Rs 15,10,567 crore for the fortnight ended June 9, according to the Reserve Bank of India's Weekly Statistical Supplement. This is inclusive of food credit, which increased by Rs 1,484 ... More

SHORT TERM INSTRUMENTS
Call rates steady
Call rates were steady between 5.75-5.85 per cent. Liquidity was at Rs 30,310 crore, down from Rs 42,255 crore, following the Rs 9,000 crore auction of the two government papers, on Thursday. In the first three-day reverse repo ... More

T-bills auction
The Reserve Bank of India has announced the auction of 91-day and 182-day Government of India Treasury Bills. The 91-day T-bill will be for a notified amount of Rs 2000 crore (Rs 500 crore under the regular auction calendar and Rs 1500 crore ... More

TRADE & LABOUR UNIONS
Account switchover draws staff ire
The All India Reserve Bank Employees Association (AIRBEA) has reacted sharply to the Union Civil Aviation Ministry's move to transfer all its banking operations from the Reserve Bank of India and State Bank of India to ICICI Bank ... More

EVENTS
Govt committed to closing gap in agri credit: PM
Calls for strengthening of microfinance institutions More

CONSUMERISM
Banks have to compensate for deficient services
IBA INITIATIVE More

OUTLOOK
Union Bank to post lower growth
RBI estimates show banking industry to grow at 20% against 30% earlier More

ECONOMIC OFFENCES
`Banks must have systems to check money-laundering'
Police partnership along with the banking sector can be the only way to prevent white-collar crime, said Mr Jayant Umranikar, Additional DGP, CID, Pune. Banks can effectively reduce the risks of banking transactions if they identify ... More

Cross Currency Rates