The Hindu Business Line : Friday, December 29, 2006

AWARDS & HONOURS
Corp Bank bags excellence award
Corporation Bank has been awarded the `Niryat Bandhu' excellence award, instituted by the Federation of Indian Export Organisations (FIEO). The award is to given to banks/export promotion councils for support services rendered ... More

FOREX
`Rupee float doesn't mean faster growth'
Capital market liberalisation does not lead to faster economic growth and stability, said Mr Joseph E. Stiglitz, Nobel laureate. China does not have free capital markets yet attracts largest foreign direct investment, he added. Mr Stiglitz's ... More

Rupee at 10-month high
The rupee, which has been gaining against the US dollar in the past few days, touched a 10-months high on Thursday. Dealers said the usual month-end or quarter-end dollar buying seems to be missing. This, along with genuine ... More

INSURANCE
Landmark year for insurance sector
Free pricing, new players, more penetration More

CONSUMER FINANCE
Karnataka Bank pact with Sun Technics
Karnataka Bank Ltd has entered into a memorandum of understanding (MoU) with Sun Technics Energy Pvt Ltd for financing the purchase of solar water heating and home light systems. A bank release said here on Thursday that the ... More

LIFE INSURANCE
Religare, AEGON in life venture
The Ranbaxy Promoter Group and the Netherland-based AEGON on Thursday inked a definitive agreement to enter the life insurance and asset management business in India. The ventures will be implemented by Religare, the financial services ... More

PRIVATE BANKS
ICICI Bank's branch in Karimnagar
ICICI Bank has launched its branch at Karimnagar. The branch was inaugurated by Mr P. Raghavender, District and Sessions Judge, Karimnagar. The branch will remain open for customer transactions from 8 a.m. to 8 p.m., Monday ... More

PUBLIC SECTOR BANKS
UCO Bank plans to open six more branches in AP
UCO Bank plans to open at least six branches in Andhra Pradesh soon. The bank has opened a new branch at Warangal, taking the total to 38 at present in the State. The new branch at the market yard in Warangal was inaugurated by Mr Ravindra ... More

INTEREST RATES
Call money rates zoom to 12.75%
Liquidity continues to be tight More

PNB hikes lending rate
Punjab National Bank on Thursday announced a 25 basis point hike in its benchmark prime lending rate (PLR) to protect its net interest margin. The PLR would now go up from 11.5 per cent to 11.75 per cent with effect from January 1 next ... More

SBBJ hikes lending rate
State Bank of Bikaner and Jaipur (SBBJ) has hiked its benchmark prime lending rate (BPLR) from 11.25 per cent to 11.5 per cent. This increase has come into effect from Thursday. With this revision, all advances linked to BPLR ... More

GOVT BONDS
Bond prices fall on tight liquidity
Bond prices edged down by around nine paise on tight liquidity conditions. The total traded volumes on the order marching system continued to be low at around Rs 730 crore (Rs 690 crore on Wednesday), against the average of Rs ... More

NON-PERFORMING ASSETS
IDBI Bank to e-auction Boat Club property
IDBI Bank has called for prospective buyers to participate in an e-auction for a one-lakh sq ft property on Boat Club Road, a prime residential locality in Chennai. This is the second attempt by IDBI Bank to sell the property through an online ... More

FIXED DEPOSITS
Banks in Dakshina Kannada cross Rs 13,200-cr biz
Banks in Dakshina Kannada district have reached the business level of Rs 13,209 crore as on September 30. As many as 363 branches of various banks achieved this business, which includes deposits of Rs 8,085 crore. This was informed here on ... More

CO-OPERATIVES
`Good response to co-op credit package'
11 State Govts have executed MoUs with Centre, Nabard More