The Hindu Business Line : Saturday, September 23, 2006

FOREX
Forex reserves rise over $400 m
Forex reserves increased by $404 million to touch $165.542 billion, for the week ended September 15 due to a rise in foreign currency assets. In the previous week, reserves dropped $1.320 billion to touch $165.138 billion. Foreign currency ... More

Rupee weakens marginally
The rupee slipped marginally against the dollar on Friday due to extensive demand for dollars from foreign banks and domestic oil companies. "The oil prices have also risen to $60.44 per barrel compared to below $59 level ... More

GENERAL INSURANCE
PSU insurers ride equity boom to beef up capital
Higher retention capacities, high solvency margins More

Indian to save Rs 22 cr on insurance payout cut
The private sector has again failed to participate in the insurance of the fleet of Indian, which bucking international trends, has achieved a reduction of close to 30 per cent in the insurance premium payable during 2006-07. Sources told ... More

RBI & OTHER CENTRAL BANKS
New counter
WORLD BANK'S OFFICE: The Tamil Nadu Chief Minister, Mr M, Karunanidhi, with the World Bank Group Chief Financial Officer, Mr Vincenzo La Via, at the inauguration of the new building of the bank in Chennai on Friday. According to an official ... More

PUBLIC SECTOR BANKS
Andhra Bank, CIHL tie up for study loans
Andhra Bank has announced that it has entered into a memorandum of understanding (MoU) with the Consortium of Institutions for Higher Learning (CIHL) in the presence of the Andhra Pradesh Chief Minister, Dr Y.S. Rajasekhara Reddy, here on ... More

Ernakulam PNB in new location
The Ernakulam South Branch of Punjab National Bank (PNB) has been shifted to a new premises on Durbar Hall Road, Ernakulam. It was formally inaugurated by Mr C. Rajendran, Chief Commissioner of Income Tax, Kerala. Mr Rajendran ... More

GOVT BONDS
Bond prices edge up
Domestic bond prices edged up by 30 paise, tracking the gains made by the US treasury bills. The total traded volume on the order matching system was Rs 6,730 crore (Rs 5,900 crore). Dealers said that the US ten-year yield ... More

CORPORATE BONDS
Fitch rating for ITI bonds
Fitch Ratings on Monday placed ITI Ltd's Rs 50 crore `I' Series long-term bonds, rated `AAA (ind)(SO)' on Rating Watch Negative ("RWN"). In January 2006, Fitch downgraded the rating of the Rs 150 crore (`J' Series) long-term Government of ... More

CREDIT MARKET
Banks vying to cash in on festive season
Housing, auto, personal loans demand increase by 20-25 pc More

SHORT TERM INSTRUMENTS
Call rate may ease next week
The call rate closed between 6.30-6.35 per cent (6.30-6.40). Bond dealers said the call rate would ease next week, with the improvement in liquidity or cash in the system. The advance tax outflows are expected to return to the ... More

MERGERS & ACQUISITIONS
Merger: UWB board to meet again on Sept 26
Committee set up for taxation and accounting procedure issues More