MONEY & BANKING
FINANCIAL SERVICES
GE India bets on financial biz for $8-b revenue by 2010
`We have enough projects in the pipeline and are going to leverage the diversity of our businesses in India.' Sees India as one of the key players among emerging markets
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FOREX
Re falls on dollar demand
The rupee, which touched seven-month high against the dollar last week, lost some ground on Monday on the back of heavy demand from corporates for the US currency. The domestic currency ended the trade with a loss of 27 paise ...
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STOCKS
Indian banks are cheaper, says Mark Mobius
Cap on FII buying acts as a limiting factor
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GENERAL INSURANCE
Govt to beef up capital of non-life insurance cos
Direct support either thru equity or open-ended debt under consideration
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Tata-AIG partners set to infuse more capital
The joint venture partners of Tata-AIG General Insurance Company Ltd are preparing to further beef up the capital ahead of deregulation of tariffs in the non-life insurance sector. The Tata-AIG's Chief Operating Officer, Mr Michael Carlin, told ...
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PRIVATE BANKS
StanChart NRI Swagat account
Standard Chartered Bank has launched its NRI Swagat account, which addresses specific banking requirements of NRIs with roots in Kerala and Punjab. The account comes in two variants - one targeting NRIs/PIOs with their ...
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FINANCIAL INSTITUTIONS
Infrastructure Development Finance buys 8.7 pc stake in Arcil
Looking at the investment as long-term one: Executive Director
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ASSET MANAGEMENT COMPANIES
Prudential ICICI plans expansion
Prudential ICICI Asset Management Company Ltd is planning to expand its presence to a total of 180 places by the end of 2007 from the present 100. The company also plans to strengthen its distribution channel by having more agents. "Besides, ...
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GOVT BONDS
Bonds track US treasury yields
The bond prices rose almost nine paise tracking the US treasury yields. Total traded volumes on the order matching system increased to Rs 6,120 crore (Rs 3,055 crore). The drop in oil prices below $60 barrel helped bonds to ...
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CORPORATE BONDS
UTI Bank to raise Rs 200 cr through bonds
UTI Bank plans to raise Rs 200 crore (with an option to retain over-subscription) through upper tier II unsecured redeemable subordinated debentures. The face value and issue price of one debenture is about Rs 10 lakh. The bonds have been ...
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SHORT TERM INSTRUMENTS
Call rates rule at 6.85-6.9 pc
Call ruled between 6.85 per cent and 6.95 per cent against 6.9-7.1 per cent on Friday. In the first one-day reverse-repo auction under LAF, the RBI received and accepted two bids amounting to Rs 270 crore. There were no repo ...
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CREDIT CARDS & DEBIT CARDS
Pay by cash please!
If India wants to march ahead towards becoming a developed nation, it will have to get out of the `cash please' mentality sooner than later. And it is time generous incentives were given to encourage the use of cards instead of cash.
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SBI card base crosses 3 million
SBI Card, a joint venture between State Bank of India and GE Money, has crossed the three-million cardholders mark, said a press release from SBI Card. The release also quoted Mr Roopam Asthana, CEO, SBI Card, as saying that the company has ...
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FIXED DEPOSITS
Canara Bank children deposit scheme
Canara Bank is launching a deposit scheme for children up to 12 years on Children's Day. Called `SB Canchamp Deposit Scheme' it allows children to start a deposit with a minimum amount of Rs 100, said a press release from the ...
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ICICI Bank NRI deposit scheme
ICICI Bank has introduced a new product `NRI SmartSave Deposits', a fixed deposit scheme for non-resident Indians. Under this scheme, a customer who has a fixed deposit in any bank's overseas branch can get the amount transferred ...
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CO-OPERATIVES
New norms for urban co-ops' extension counters
In a move that will bring cheer to the urban co-operative banks (UCBs) in the country, the Reserve Bank of India on Monday permitted UCBs , which are registered in states that have signed memorandum of understanding with the RBI, to convert ...
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Package needed to revamp co-op sector, says Minister
`Movement vital for rejuvenation of rural sector'
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