The Hindu Business Line : Tuesday, November 07, 2006

FOREX
Rupee weakens 10 paise
The rupee weakened by around 10 paise as state-run banks bought dollars to infuse liquidity into the system. "Today's buying was not to protect any level but to maintain liquidity. It was RBI induced buying," said a forex dealer. ... More

LIFE INSURANCE
Aviva to use India biz model for Lanka venture
Keen to expand presence though bancassurance tie-ups More

MetLife ties up with UTI Bank
MetLife India Insurance Co Pvt Ltd has entered into a bancassurance tie-up with UTI Bank. This is MetLife's fourth bancassurance tie-up after J&K Bank, Karnataka Bank and Dhanalaxmi Bank. Mr Rajesh Relan, Managing Director, MetLife, said, "The . More

PRIVATE BANKS
Kotak Bank branch in Kottayam
Kotak Mahindra Bank has opened its retail banking branch in Kottayam. The bank has 82 branches in 57 locations in the country. Mr K.M. Mathew, Chief Editor, Malayala Manorama, inaugurated the branch. To coincide with the ... More

PUBLIC SECTOR BANKS
State Bank of Bikaner to expand
State Bank of Bikaner and Jaipur is planning to add one more branch each at Tirupur and Coimbatore. It is also contemplating to open a regional office at Chennai to monitor its branches in the South, the bank's Chief General Manager, Mr M. ... More

SBI may raise more tier-II capital
State Bank of India may raise another Rs 1,000 crore to Rs 2,000 crore as tier-II capital during the current fiscal to fund business growth, its Chairman, Mr O.P. Bhatt, has said. Speaking to presspersons on the sidelines of the Finance ... More

FINANCIAL INSTITUTIONS
Aavishkaar to expand corpus to $10 m by 2007
Its investors include Goodwell Investments BV, Holland, ICICI and FMO, another Dutch development financial institution. More

End of the road for a 10-year-old bank?
Top news about IIBI, at the time of writing, is from the Institute of Innovation in Biotechnology and Industry in Santo Domingo, Dominican Republic, on how that country has become the first producer and exporter in the world of ginger `vinegar', ... More

GOVT BONDS
Bond prices fall
Bond prices dropped by around nine paise on tight liquidity. Total traded volume on the order matching system decreased to Rs 3,445 crore (Rs 2,585 crore). "After an outflow of Rs 9,000 crore through auctions, the market expected ... More

CORPORATE BONDS
SBT raises Rs 200 cr thro' bonds
State Bank of Travancore (SBT) has raised Rs 200 crore through issue of unsecured non-convertible subordinated perpetual bonds by private placement. The bonds, rated `AAA' by Crisil and CARE, carry a coupon rate of 9.34 per cent ... More

CREDIT MARKET
Govt asks banks to rebalance credit portfolio
Ministry insists on increasing exposure to physical infrastructure sector More

SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates ruled unchanged between 6.9 per cent and 7 per cent. In the first one-day reverse-repo auction under LAF, the RBI received and accepted three bids amounting to Rs 5,105 crore. There were no repo bids. In the second ... More

FIXED DEPOSITS
Chidambaram wants faster deposit growth
Banks told to rebalance loan portfolios More

EVENTS
Devising strategy
AIMING FOR DEPOSITS GROWTH: (From left): Chief executives of Public Sector Banks, Dr A.K. Khandelwal, Bank of Baroda; Mr T. S. Narayanasami, Indian Overseas Bank; Mr V. Sridar, UCO Bank; and Mr K.N. Prithviraj, Oriental Bank of Commerce, at a ... More