The Hindu Business Line : Saturday, November 11, 2006

FARM CREDIT
Farm loan interest subvention amount used
Commercial banks, co-operatives and regional rural banks have up to October 31 this year claimed Rs 874 crore from the Reserve Bank of India and Nabard for providing two per cent interest relief to farmers for Kharif and Rabi 2005-06. About Rs ... More

FOREX
Forex reserves rise $24 million
Forex reserves increased by a meagre $24 million to touch $167.116 billion for the week ended November 3, according to figures released by the Reserve Bank of India. This is the third week in a row that the country's forex reserves saw ... More

Rupee weakens
Sustained dollar buying by state-run banks pulled the rupee down from its opening high of 44.32/33 to close at 44.71/7150 on Friday against the previous close of 44.55. "State-run banks bought dollars throughout the day at the ... More

`No change in exchange rate policy'
"There is no change in exchange rate policy," said the RBI Governor, Dr Y.V. Reddy, on the sidelines of a function. On being asked if the Reserve Bank of India has intervened of late in the forex market, he said, "The RBI has to intervene if ... More

INSURANCE
Free pricing may lead to turbulence initially: IRDA
Insurers told to learn from others' experience More

Telemarketers may soon sell insurance policies
You could soon be courted by a telemarketer to buy an insurance policy once the regime of free pricing (detariffing) of general insurance policies gets under way, thinks Mr Dalip Verma, Managing Director of Tata AIG General Insurance Company. ... More

HOUSING FINANCE
HDFC property show
HDFC Ltd is organising a four-day property show beginning tomorrow (November 11) at Swabhumi, which will showcase "dream homes" by prominent property developers such as Shapoorji Pallonji and Unitech, says a press release. Mr ... More

DEBT MARKET
Bond prices range-bound
Bond prices were range-bound and volumes were thin, though they improved towards close. While bond prices opened weak on the upward movement in oil prices, the better than expected inflation figures helped the market, said ... More

RBI & OTHER CENTRAL BANKS
TDS: Senior citizens can breathe easy
The Reserve Bank of India has told several commercial banks not to deduct interest tax payable on fixed deposits of senior citizens. Senior citizens are eligible for tax exemption on the interest earned on fixed deposits for which they have to ... More

FOREIGN BANKS
German bank plans competency centre
The National Bank AG, Germany, will set up a `competency centre' in Germany that would facilitate the German business community to start operations in India, Dr Henner Puppel, Member of the Management Board of the bank, said. ... More

CORPORATE BONDS
UTI Bank raises $46 m via bonds
UTI Bank Ltd has said that it raised $46 million as capital through issuance of hybrid tier I bonds in the international markets as part of its medium term note programme for € 1 billion. The transaction is priced at 7.16 ... More

CREDIT MARKET
Non-food credit up Rs 8,659 cr
Bank credit increased by Rs 11,847 crore to touch Rs 16,55,567 crore for the fortnight ended October 27, 2006. This included food credit, which increased by Rs 3,188 crore to touch Rs 36,633 crore and non-food credit, which increased by Rs ... More

Indian Bank's credit linkage to SHGs
The Executive Director of the Indian Bank, Mr M. S. Sundara Rajan, commissioned the bank's 346th automated teller machine (ATM) at the Manapparai branch recently. Speaking on the occasion, Mr Sundara Rajan said Indian Bank ... More

SHORT TERM INSTRUMENTS
Call rates steady
Call rates ruled between 6.6 per cent and 6.7 per cent (6.65 per cent-6.75 per cent). In the first three-day reverse-repo auction under LAF, the RBI received and accepted three bids amounting to Rs 640 crore and 23 bids for Rs ... More

BONUS ANNOUNCEMENTS
Lakshmi Vilas to issue bonus, rights
The Karur-based Lakshmi Vilas Bank has fixed November 24 as the record date to determine the shareholders eligible for bonus andrights issues. In a communication to the NSE on Friday, the bank said the bonus shares would be ... More

OUTLOOK
Capital rejig - To look attractive!
Public sector banks hoping to go public have to clean up their books and reduce their bloated equity base. The likes of Indian Bank, Central Bank of India, United Bank of India and Punjab & Sind Bank are in the process of doing just that. They .. More

PEOPLE
New CGM for State Bank of Patiala
Mr Diwakar Gupta has joined State Bank of Patiala as Chief General Manager at its head-office at Patiala. Prior to this move, Mr Gupta was Chief General Manager, State Bank of India, Mumbai. ... More