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MONEY & BANKING
INSIGHT
Prisoner's dilemma in Asian exchange rate policies
The extreme export-oriented nature of most Asian economies has given rise to a collective action problem where the fear of losing competitiveness leads each of them to heavily manage their respective currencies. — MR RAMKISH EN S. RAJAN, ASSOCIATE PROFESSOR IN INTERNATIONAL ECONOMICS AT THE SCHOOL OF PUBLIC POLICY, GEORGE MASON UNIVERSITY
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FOREX
Rupee weakens by 5 paise
The rupee weakened by almost five to six paise on Tuesday on weak domestic equity markets. "The market expects a slowdown in foreign inflows into the equities," said a dealer at a private bank. The home currency opened at ...
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LIFE INSURANCE
Canara Bank all set for life insurance foray
Talking to Business Line, Mr M.B.N.Rao, Chairman and Managing Director, Canara Bank, said, " We are in the process of tying up all issues. We are in the final stages of discussions with one of the top insurance companies in the world. ...
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FINANCIAL POLICY
RBI acts to rein in inflation
Cash reserve ratio hiked; move to suck Rs 14,000 cr from banking system
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CRR hike impact: Analysts expect shaky start today
Banking, manufacturing sectors likely to be hit most
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FOREIGN DIRECT INVESTMENT
Group of Ministers on insurance meets
The Union Finance Ministry is understood to have made its presentation before the Group of Ministers on insurance, headed by the External Affairs Minister, Mr Pranab Mukherjee, which met here on Tuesday. The GoM will decide on the fate of the ...
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PUBLIC SECTOR BANKS
UBI in talks with IDBI, Sharekhan for online broking
Tie-up with Franklin Templeton Mutual Fund
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Bank of India crosses 100% CD ratio
Bank of India has reported a credit-deposit ratio of over 100 per cent in January 2007 for the Kerala region. This is from a low of 62.4 per cent reported for 2003-04, Mr M. Balachandran, Chairman and Managing Director said. It had grown to 96.6 ...
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Canara Bank sets up chair at MSE
Canara Bank announced on Tuesday that it had instituted a chair in financial economics at the Madras School of Economics (MSE), with a corpus of Rs 1 crore. Handing over the cheque to Dr C. Rangarajan, Chairman of MSE and former ...
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CRR & BANK RATES
Bonds tumble as market presses panic button
CRR hike seen putting rates under increased pressure
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Funds get more costly
Funds just got more costly. Companies, big and small, will soon have to pay more for their borrowings. And home loan borrowers who are reeling from a 3 percentage point hike, spread over the last nine months, will have to brace up for one more ...
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Bank chiefs looking to review interest rates
Lending and deposit rates are set to go up, with bank chiefs scheduling meetings of asset liability management groups to study the impact of the hike in cash reserve ratio (CRR) to six per cent. The Reserve Bank of India's hike in CRR to six ...
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Incomes, wealth jumps drive inflation
This is most apparent now in property where the cost of borrowed money is still far less than the rate of asset appreciation.
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ICICI Bank, HDFC Bank ADRs slump
Trading trend in ADRs present a negative signal for the Indian markets, as most counters opened on a weak note. This was despite a strong opening by the US markets - Dow was up about 73 points at 8.30 p.m. IST, while Nasdaq and S&P-500 gained
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CREDIT MARKET
Reverse auction in infrastructure equipment finance `doing well'
Replica of process prevalent in the Netherlands
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`Loan growth may taper off'
There is room for more hikes in interest rate this calendar year, said Mr Romesh Sobti, Executive Vice-President and Country Executive, ABN Amro Bank, before the RBI announced a CRR hike. "Inflation remains a concern and a hike in interest ...
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SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates remained unchanged at 6.50-6.60 per cent from the previous close. In the first one - day reverse repo auction under the LAF, the Reserve Bank of India received and accepted two bids. In the second one - day reverse ...
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