The Hindu Business Line : Friday, December 15, 2006

FINANCIAL SERVICES
IDBI arm for gilts trading
IDBI Ltd is setting up a separate subsidiary for its primary dealership business called IDBI Gilts Ltd. The bank informed the Bombay Stock Exchange on Thursday that it has received a certificate of incorporation from the Registrar of ... More

FOREX
Rupee gains 13 paise
The rupee gained by almost 13 paise on Thursday on strong selling of dollars by foreign banks. The home currency opened at 44.80/82, traded between 44.82 and 44.84 levels, to finally close at 44.65 against the previous close of ... More

GENERAL INSURANCE
Willis BA India sets up M&A unit
Willis BA India Pvt Ltd has set up a mergers and acquisitions (M&A) division in the country. It will offer insurance to mitigate risks from M&A transactions. The fact that Tata AIG will soon launch similar M&A insurance products in the I More

FINANCIAL POLICY
SBI holding in associates at 51 pc: Panel okays move
The Standing Committee on Finance has endorsed the proposed legislative amendment to reduce State Bank of India's shareholding (statutory minimum) in its subsidiary banks from the current 55 per cent to 51 per cent. In its report on the State ... More

RBI & OTHER CENTRAL BANKS
`Banks must offer simple products'
Bankers should have plain vanilla products rather than complicated products, according to Mr Kaza Sudhakar, Chief General Manager of the Reserve Bank of India. Speaking at a seminar on retail banking, he said that banks should ... More

INTEREST RATES
Punjab National Bank not to hike lending rates now
May go in for further deposit rate increase More

Centurion ups lending rates
Centurion Bank of Punjab has hiked its prime-lending rate by 50 basis points to 13 per cent with effect from December 18. The revision in rates is in line with prevailing trends in the market, said a press release by the bank. ... More

GOVT BONDS
Bond prices decline
Sentiment in the bond market was bearish due to high US yields and tight liquidity, with prices falling by about 22 paise. Volumes on the NDS Order Matching system were at Rs 1,935 crore. Although there was some buying in the latter half of the ... More

CREDIT MARKET
Bank loan growth seen at 25%
We expect a 25 per cent growth rate in loans for the banking industry this fiscal, said Mr V. Vaidyanathan, Executive Director, ICICI Bank. ICICI Bank has raised its lending rates by almost 50 basis points, following the hike in ... More

9 districts in Karnataka covered under financial inclusion project
Govt approves rehab packaged for distressed farmers More

SHORT TERM INSTRUMENTS
Call rate closes at 7.90-8%
In the first one-day reverse repo auction under LAF, the Reserve Bank of India received and accepted three bids for Rs 125 crore. In the first one-day repo auction, it received and accepted 16 bids for Rs 5,740 crore. In the second one-day ... More

TRADE & LABOUR UNIONS
Strike hits banking, insurance operations
More

Protest a success, claim unions
Normal banking operations in West Bengal remained paralysed on Thursday as nearly 75,000 employees in about 5,500 branches in the State stayed away from work, responding to a 24-hour strike called by the CITU and other central trade unions in ... More

OUTLOOK
`Marginal impact likely from US slowdown'
India driving Asian growth, says S&P report More

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Cross Currency Rates
Pick a Winner Stock Market Contest

US court rules against bond requirements for shrimp imports

Punj Lloyd sets up engineering services outsourcing company

Ban only on fund-based portfolio management services: FMC

GSM plea on spectrum usage charge rejected

Concor now exporting to Bangladesh by sea route

What Japanese business wants India to do

Strike hits banking, insurance operations

Looking back
Dec. 3-Dec. 9
Bonds stabilise as traders pause to book profits

NBFCs can issue credit cards, distribute MFs

Powers for banks to open lockers on rent default

Fed cut in sight

Mediclaim for senior citizens unveiled

RBI allows new category of NBFCs

Widen coverage in rural areas, Kalam tells NIC

IFC may invest Rs 100 cr in Moser Baer project

All third party risks move to Motor pool from Jan