The Hindu Business Line : Tuesday, March 06, 2007

DIVIDEND ANNOUNCEMENT
PNB interim dividend handed over
Punjab National Bank (PNB) has paid 40 per cent interim dividend amounting to Rs 72.90 crore for the financial year 2006-07 to the Central Government. The PNB Chairman and Managing Director, Mr S.C. Gupta, presented the dividend ... More

INSIGHT
The potential fallout of Basel II
Continuing with the discussion on Basel II and India's banking structure in the previous edition of Macroscan, C. P. Chandrasekhar and Jayati Ghosh point to some outcomes that could follow the implementation of the Basel guidelin es and their implications. More

FOREX
Sensex crashes tracking weak global markets
Loses 471 points, Nifty declines 4% More

Rupee loses 30 paise
The rupee shed over 30 paise against the dollar tracking the downturn in the domestic stock market. The currency opened at 44.33/35 and touched an intra-day low of 44.70/71. It closed the day at 44.63/64, against Friday's close ... More

LIFE INSURANCE
Birla Sun Life plans aggressive growth
Birla Sun Life Insurance hopes to grab a fair share of the growing insurance market and be among the top three in two years. Mr Vikram Mehmi, President and CEO, said that the accent would now be on aggressive growth. "The life insurance ... More

RBI & OTHER CENTRAL BANKS
No confusion on ADB loan: Achuthanandan
`Detractors spreading falsehood' More

PRIVATE BANKS
City Union Bank to go for second round of funding
To raise Rs 400 cr to meet long-term targets More

FOREIGN BANKS
AP woos Deutsche Bank to set up backoffice in Hyderabad
Govt assures necessary support in terms of infrastructure, manpower More

GOVT BONDS
Bond prices down 10 paise
Bond prices edged down by 10 paise as traders were cautious about the new liquidity management system put in place by the central bank. Total traded volumes on the order matching system were Rs 1,740 crore (Rs 1,780 crore). ... More

SHORT TERM INSTRUMENTS
Call rates ease
Call rates eased to 5-5.25 per cent (6-6.1 per cent). Traders said deals were also done at 4.5 per cent. In the first one-day reverse repo auction, the RBI received 24 bids for Rs 12,585 crore but accepted only 24 bids for Rs ... More

FIXED DEPOSITS
Private banks seek out bulk deposits
Faced with sustained high credit demand, banks have now begun to slug it out for mobilising funds through bulk deposits. Sources said the some of the banks were offering rates of over 11 per cent for raising large bulk deposits from corporates, ... More

City Union Bank's new scheme
City Union Bank has introduced `CUB 399', a deposit scheme that would yield interest at 9.25 per cent per annum for the general category and an additional 50 basis points (9.75 per cent) for senior citizens. The duration would be for 399 days. ... More

ALLIANCES & JOINT VENTURES
Canara gets into insurance with HSBC, Oriental Bank
Foreign partner to pay premium for branch network, customer base More