The Hindu Business Line : Saturday, August 05, 2006

FOREX
Forex reserves rise $675 m
The forex reserves have increased by $675 million due to an increase in foreign currency assets. According to the Reserve Bank of India's Weekly Statistical Supplement, the reserves rose by $675 million to touch $164.023 billion for the ... More

Rupee tad up against dollar
The rupee gained marginally against the US dollar on Friday on the back of FII inflows into the domestic equity market. The home currency opened at 46.54/56 and touched an intra-day low of 46.64 before closing at 46.55. On ... More

GENERAL INSURANCE
Mumbai flood: GIC loss put at Rs 650 cr
The General Insurance Corporation of India has pegged the gross loss arising out of the Mumbai flood last year at Rs 2,900 crore. GIC's loss due to the catastrophe was around Rs 650 crore. The gross loss due to fire at the ONGC rig was around ... More

PUBLIC SECTOR BANKS
Chidambaram defends advisory to banks on PLR
`Govt as majority shareholder has the right to be heard at the board' More

PSU bankers `surprised'
`Lending rates have to match cost of funds' More

Rlys in pact with SBI for ATMs at 681 stations
E-ticketing facility to be provided through kiosks More

Bill soon to empower Govt to dissolve bank boards
Govt wins Left support More

UBI road map to push export credit
The bank organising a meet of major export stakeholders in Nov More

Canara Bank upgrades Tiruchi office
Canara Bank has upgraded its Regional Office in Tiruchi into a Circle Office. The Tiruchi District Collector, Mr Ashish Vachhani, inaugurated the office on Friday in the presence of the General Manager, Canara Bank, Circle ... More

INTEREST RATES
Rate hike: SBI board to meet next week
State Bank of India's (SBI) decision of August 1 to hike its prime lending rate (PLR) by 25 basis points would now be referred to its board next week for approval, its Chairman, Mr O.P. Bhatt, has said. The move comes in the wake of the ... More

Bank of Rajasthan hikes deposit rates
Bank of Rajasthan has hiked interest rates on term deposits. The interest rate on deposits of 121 days - 179 days has been increased to 6.25 per cent. (6 per cent). On deposits of 271 days to less than one year, the rate has gone ... More

GOVT BONDS
Bond prices remain flat
Bond prices were range-bound but ended flat for the third consecutive day. The traded volume continued to be low at Rs 780 crore on the order-matching system. Dealers were not taking positions ahead of the Rs 9,000 crore auction ... More

T-bills auction on August 9
The Reserve Bank of India has announced that the auction of 91-day Treasury bills and 182-day Treasury bills would take place on August 9 using multiple price auction. The notified amount for the 91-day Treasury bills would be Rs ... More

CREDIT MARKET
Central Bank of India signs pact with APSFC
The Andhra Pradesh State Financial Corporation (APSFC) has entered into a memorandum of understanding with Central Bank of India to ensure integrated and speedy flow of credit to industrial customers and provide easy facility of working capital ... More

Non-food credit up Rs 9,394 cr
Gross bank credit increased by Rs 7,596 crore and stood at Rs 15,49,585 crore for the fortnight ended July 21, according to Reserve Bank of India's Weekly Statistical Supplement. The gross bank vredit was inclusive of food credit, which decreased ... More

SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates were between 6.00 and 6.10 per cent. In the first three-day reverse repo auction under LAF, Reserve Bank of India received and accepted 24 bids amounting to Rs 24,800 crore and in the second three-day reverse repo ... More

INTERVIEW
`Ministry, banks must find middle path on rates'
The Finance Minister, Mr P. Chidambaram, has asked PSU banks to keep rate hikes in abeyance. Hence, banks might have to roll back hikes that were announced recently. Industry veteran Mr N. Vaghul believes that the Finance Minister is concerned ... More