The Hindu Business Line : Thursday, July 27, 2006

FOREX
Rupee tad higher against dollar
The rupee was strong against the dollar on Wednesday on dollar sales by some nationalised banks and exporters. The home currency opened weak at 46.90 on the back of a strong dollar overseas, but recovered to an intra-day high of ... More

STOCKS
Foreign holdings in ICICI Bank
FIIs, NRIs and PIOs can invest in the equity shares of ICICI Bank up to 74 per cent through stock exchanges in India under the Portfolio Investment Scheme without prior clearance of the RBI. The RBI also informed that foreign ... More

CREDIT POLICY
`RBI has lifted uncertainty'
Mr P.K. Gupta, CMD of United Bank of India, noted that the apex bank has dispelled uncertainty by leaving key rates unchanged, although there is an increase in short-term rates. "This will help stabilise the market's expectations ... More

FINANCIAL PERFORMANCE
State Bank of Mysore Q1 net up 9 pc
State Bank of Mysore has reported a nine per cent rise in net profit for the first quarter of the financial year 2006-07 at Rs 50.89 crore. The Managing Director, Mr Y. Vijayanand, told presspersons here on Wednesday, "This was a difficult ... More

SBT net up at Rs 54 cr in Q1
State Bank of Travancore (SBT) has recorded net profit of Rs 53.86 crore for the first quarter ended June, compared to Rs 47.61 crore in the corresponding previous period. Operating profit rose to Rs 172.63 crore (Rs 147.42 crore), according to ... More

LIFE INSURANCE
LIC new premium registers 217-pc growth in Q1
Bancassurance tie-up with Bank of Maharashtra More

Revised ULIPs not appealing to HNI segment
Bajaj Allianz in rural distribution venture with Godrej Aadhar More

BoI may take Dai-ichi as insurance partner
To raise $330 m in foreign currency; home loan rates may go up More

Canara Bank proposes foray into life insurance
Three-way venture on cards; no decision yet on partners More

DEBT MARKET
Bond prices drop ahead of auction
Bond prices were flat to weak ahead of the auction to be held on Thursday, with prices moving in the 10-15 paise range. "There was no major movement in the prices, only some minor adjustment. Oil prices too were around $73," said ... More

RBI & OTHER CENTRAL BANKS
Payment, settlement systems may come under RBI
Bill to empower RBI introduced in Lok Sabha More

INTEREST RATES
Japanese stay invested despite BoJ rate hike
The interest rate hike by Bank of Japan has not led Japanese institutional investors to redeem by huge amounts, said Mr Kenjiro Noda, Deputy President, Daiwa Securities SMBC, a global investment bank. He was announcing the setting up of the ... More

NON-PERFORMING ASSETS
Bank guarantee could not be invoked if arbitration award is challenged: HC
The arbitration law stipulated that a bank guarantee issued in favour of a company as part of an arbitration award could not be invoked if the award itself had become inexecutable with the admission by the High Court of a petition under Section ... More

SHORT TERM INSTRUMENTS
182-day T-bills fully subscribed
The auctions of the 182-day treasury-bills were fully subscribed but 91-day treasury-bills were partially subscribed. The notified amount for both T-bills was Rs 3500 crore. The Market Stabilisation Scheme (MSS) amount for ... More

OUTLOOK
More rate hikes in future, says UBS
The Global Head of Emerging Markets Strategy at UBS, Mr Bhanu Baweja, says that there will be more rate hikes in the future and the reverse repo rates are likely to rise to 6.5 per cent by the end of the financial year 2007. He adds that ... More

CARTOON
Pocket
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