The Hindu Business Line : Friday, November 10, 2006

FOREX
Rupee gains on dollar inflows
Good dollar inflows helped the rupee gain around 14 paise to close at 44.55 on Thursday, a level last seen in April. The rupee opened at 44.72/74 and strengthened in day trade. On Wednesday, the rupee had closed at 44.69/70. ... More

HOUSING FINANCE
UBI signs MoU for home loans to Govt employees
United Bank of India has signed an MoU with the West Bengal Government for extending home loans to government employees. Housing loans will be available to those who have completed at least one year's continuous service in a regular post. The ... More

LIFE INSURANCE
Bajaj Allianz's new unit-linked plan
Bajaj Allianz Life Insurance has launched a new unit-linked product called `UnitGain Plus SP' plan. UnitGain Plus SP is offering four active funds: The Equity Index Fund II, tracks the NIFTY Index; Equity Growth Fund invests ... More

GENERAL INSURANCE
New non-life insurance joint venture formed
banks join hands with Sompo, Dabur Investment More

CREDIT RATING
Crisil assigns `1/5' to IPOs of Celestial Labs, Bhagwati Banquets
Bhagwati Banquets has proposed an issue of 2.3 crore equity shares at Rs 30 per share aggregating Rs 69 crore. More

Canara Bank may be rated `investment grade'
Roadshows for MTNs to begin on November 14 More

PUBLIC SECTOR BANKS
Central Bank's capital revamp plan gets nod
Rs 800 crore of equity capital to become pref shares More

Union Bank opens another branch in Coimbatore
The Tamil Nadu Minister for Rural Industries, Mr Pongalur N Palanisamy, inaugurated the 2,110th branch of the Union Bank of India at Peelamedu in the city. This incidentally is its 11th branch in the city and the 37th in the region. Mr ... More

Canara Bank `vigilance week'
The Thiruvananthapuram Circle of Canara Bank has been observing a `vigilance week' from Monday last. Mr K. M. Nair, Controller, Vikram Sarabhai Space centre, delivered the keynote address at a customer meet held at the bank ... More

GOVT BONDS
Bond prices down 13 paise
Bond prices slid by almost 13 paise on profit booking by investors and tight liquidity on Thursday.Total traded volumes on the order matching system dropped sharply to Rs 3,510 crore (Rs 8,305 crore). Liquidity is around Rs ... More

NON-PERFORMING ASSETS
Goa EDC charts out revival plan
To provide low cost funds to Govt development schemes More

CREDIT MARKET
Public sector banks' credit flow to SMEs rises
The credit flow to the small and medium enterprises (SMEs) from public sector banks (PSBs) has recorded a significant rise as on end-September 2006 if one went by the latest data available on this front. PSBs have shown a 26.44 per cent ... More

SHORT TERM INSTRUMENTS
Call rates range-bound
Call ruled between 6.65 per cent and 6.75 per cent against 6.7-6.8 per cent. In the first one-day reverse-repo auction under LAF, the RBI received and accepted four bids amounting to Rs 365 crore. There were no repo bids. In the ... More

FIXED DEPOSITS
Karnataka Bank focus more on retail deposits
Regional heads meeting reviews bank's performance More

TMB hikes FCNR, NRE deposit rates
Tamilnad Mercantile Bank (TMB) has hiked the interest rate up to 10 basis points on its Non-Resident External (NRE) term deposits. The rates have been hiked by 4 bps to 6.34 per cent for the maturity period of 1 year to below 2 years deposits, ... More

TRADE & LABOUR UNIONS
SBI staff union assails Chairman's remarks
`Fall in market share due to lack of vision' More

`SBI staff not averse to transfers'
More than 60 per cent of the employees in State Bank of India (SBI) have accepted transfers and changed their places of work in the past six years, according to Mr Ashok Datta, General Secretary of State Bank of India Staff Association, Bengal ... More

PSU insurance officers plan stir
All the Class-I officers of the four public sector insurance companies such as New India Assurance, National Insurance, United India Insurance and Oriental Insurance will strike work on November 14. Mr P.P. Mohanan, Kerala ... More

EVENTS
ICFAI meet on banking
ICFAI Business School, Kochi, is conducting a one-day national conference on `Braving New Frontiers in Banking' here at Hotel Avenue Centre on Saturday. The conference is intended to provide a forum for experts from various reputed banks, ... More

OUTLOOK
SBBJ targets Rs 50,000-cr business
Plans to improve customer service, cut down transaction time and operating cost More