The Hindu Business Line : Friday, August 04, 2006

FOREX
Rupee firmer against dollar
The rupee on Thursday appreciated against the greenback due to dollar selling by exporters. The home currency opened at 46.75/77 a dollar and touched an intra-day low of 46.7850. It, however, closed the day higher at 46.56/57 ... More

LIFE INSURANCE
Birla Sun Life hikes capital base
Birla Sun Life Insurance (BSLI) has hiked its capital base by Rs 30 crore to Rs 520 crore. According to the company, the infusion has been made to expand the company's distribution network and to invest in technology infrastructure. The ... More

PRIVATE BANKS
49 pc FII stake in SIB allowed
Foreign Institutional Investors (FIIs) can purchase shares of The South Indian Bank up to 49 per cent of its paid up capital, after its board passed a resolution to the effect, said Reserve Bank of India, in a press release on ... More

PUBLIC SECTOR BANKS
Canara Bank upgrades Coimbatore office
Canara Bank has upgraded its Regional Office set up in Coimbatore into a Circle Office. Till date, the regional office here was reporting to Madurai Circle. "This re-organisation is expected to provide a leeway for faster decisions in this ... More

FINANCIAL INSTITUTIONS
PFC raises debt component to Nagarjuna Power Corpn
Debt-equity ratio in the project now stands at 80:20 More

INTEREST RATES
SBH prunes NRE rates
The State Bank of Hyderabad (SBH) has announced a revision, mostly downward, in interest rates on NRE, FCNR (B) and RFC term deposits effective August 1. In a press release here on Wednesday, the bank said the rates on NRE term deposits were ... More

GOVT BONDS
IOC keeps options open on tapping bond market
Final call likely by September More

Bond prices flat
Bond prices ended flat and the traded volume was low. The total traded volume on the order-matching system stood at Rs 1,285 crore. Dealers said that prices initially rose on the back of rumours that there would be no more hikes ... More

SHORT TERM INSTRUMENTS
Call rate unchanged
The call rate was unchanged at 6.05-6.10 per cent. In the first one-day reverse repo auction under LAF, the RBI received and accepted 25 bids amounting to Rs 27,115 crore and in the second one-day reverse repo auction, 40 bids ... More

CREDIT CARDS & DEBIT CARDS
UTI Bank launches credit card
UTI Bank Ltd, jointly with Visa, today launched its credit card business. The bank is offering four variants — gold, silver, gold plus and silver plus credit cards. Initially launched in Mumbai, the bank plans to roll out ... More

ALLIANCES & JOINT VENTURES
BoI, UTI MF sign pact for micro pension plan
Minimum contribution for SHGs reduced to Rs 100 per month More