The Hindu Business Line : Tuesday, June 27, 2006

FOREX
Norms for money changers eased
Authorised Money Changers (AMC) need not maintain photocopies of identification documents of persons purchasing foreign exchange less than US$ 200 or its equivalent, the Reserve Bank of India (RBI) said in a notification issued on Monday. ... More

Rupee slips on dollar demand
The rupee slid to another low against the dollar on account of heavy dollar demand from importers. The domestic currency opened at 46.18 and substantially depreciated to close at 46.38. On Friday, the rupee ended at 46.13. ... More

FINANCIAL PERFORMANCE
Bank of Rajasthan net loss narrows
Bank of Rajasthan reported a decrease in net loss of Rs 4.82 crore for the quarter ended March 31, 2006, from a net loss of Rs 12.09 crore in the year ago quarter. The bank declared a dividend of 2.5 per centand the total income was Rs 177.8 ... More

SOFTWARE
i-flex's FLEXCUBE gets customers
Three financial institutions in Africa have become customers of i-flex solutions' FLEXCUBE core banking solution. The financial details of the contracts were not disclosed. The new customers join 50 financial institutions ... More

HOUSING FINANCE
Block deal in HDFC
A block deal in shares of Housing and Development Finance Corporation on the BSE saw over 74.77 lakh shares change hands between two Citibank group investment companies today. Citigroup Holdings Mauritius Ltd bought 74.77 lakh shares from ... More

GENERAL INSURANCE
PSU general insurers buy into blue chips
More focussed on dividend yields than investment gains More

Health cover for SBM account holders
National Insurance Company and State Bank of Mysore have jointly decided to provide health insurance for all account holders. Briefing newspersons on Monday, Chairman and Managing Director, National Insurance Company Ltd, Mr V. ... More

DEBT MARKET
Low volumes in bond market
In the bond market, sentiment continued to be bearish and the traded volume was low. Dealers said until the Federal Open Market Committee(FOMC) meeting on June 29, there would be no trading interest. "Dealers are keenly awaiting ... More

RBI & OTHER CENTRAL BANKS
Emerging economies face twin challenges of fiscal, price stability
BIS outlines tasks ahead for monetary authorities, voices concern over debt ratio More

BIS board expanded; 3 more elected
The Bank for International Settlements today announced the election of three additional central bank governors as members of its board of directors. They are Mr Guillermo Ortiz, Governor of the Bank of Mexico; Mr Jean-Claude ... More

PRIVATE BANKS
Tata MF ties up with South Indian Bank
Aims to make 10-million investor club More

PUBLIC SECTOR BANKS
BoI loan scheme for goldsmiths
Bank of India has launched a new scheme for providing loan in the form of gold directly to jewellery manufacturers. BoI, which is one of the banks nominated for importing of gold, will use the facility for providing the gold, said a press ... More

CREDIT MARKET
Invest India to profile retail investor base
ORG-MARG to be data partner for first survey More

SHORT TERM INSTRUMENTS
Call rates remain flat
Call rates remained unchanged between 5.75 and 5.85 per cent. In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted 23 bids amounting to Rs. 20,705 crore and in the second one-day ... More

Cross Currency Rates