MONEY & BANKING
INSIGHT
Pedro Malan Committee Report — Counselling the Bretton Woods twins
The Malan Committee, set up to evaluate the relationship between the IMF and the World Bank, wants the Fund to stay away from the Bank's turf and get rid of the one-size-fits-all approach to stabilisation or growth. It also calls for exchange of sta ff between the institutions. But the US, which has the veto right, is unlikely to go along with them, says K. SUBRAMANIAN.
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FOREX
Rupee falls by 4 paise
The rupee weakened by about three paise on weakness in the domestic stock markets. "The market fears the global investors may turn sellers in the equity market," said a dealer at a private bank. The home currency opened at ...
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DEBT MARKET
LIC's yield expectations hurt bank bond issues
Banks in need of capital to support non-credit growth
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FOREIGN DIRECT INVESTMENT
Canadian banks, insurers set for foray
India close to trade agreement with Canada
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RBI & OTHER CENTRAL BANKS
Classify contingencies, banks told
Banks using floating provisions for contingencies under extraordinary circumstances will now have to classify them (contingencies) into three categories, namely, general, market and credit. "Under the general category, there can be situations ...
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PUBLIC SECTOR BANKS
PNB's core banking in rural branch
The public sector Punjab National Bank (PNB) opened the Bidadi Industrial area branch, the first rural branch in Karnataka to be brought under the core banking solutions programme. A PNB release said here today, that plans were ...
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GOVT BONDS
6.65% Govt stock fully subscribed
The Rs 2000-crore 6.65 per cent Government stock, 2009 for the Market Stabilisation Scheme was fully subscribed. The RBI received 105 competitive bids worth Rs 4,972.50 crore and accepted 60 bids for Rs 2,000 crore at the cut-off ...
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Bond prices steady
Bond prices were almost unchanged ahead of the advanced tax outflows scheduled in the next few days. Total traded volumes on the order matching system were Rs 1,340 crore (Rs 1,645 crore). Dealers said they were not taking any ...
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SHORT TERM INSTRUMENTS
Call rates unchanged
Call rates remained unchanged at 5.20-5.40 per cent. In the first one-day reverse repo auction, the RBI received twenty bids for Rs 20,355 crore, while it accepted Rs 2,000 crore. In the second one-day reverse repo auction, the ...
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CREDIT CARDS & DEBIT CARDS
Andhra Bank hikes credit card charges
Andhra Bank has announced a steep hike in credit card service charge with effect from April 1. The bank has notified its card members that `due to increase in cost of inputs and services' the service charge has been revised upwards. The ...
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REGULATORY BODIES & RULINGS
Investment norms for insurance cos may be eased
Insurance companies may soon have more flexibility investing in corporate bonds and mortgage-based securities. The Insurance Regulatory and Development Authority is likely to issue guidelines by the end of the month. "We are trying to give ...
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SOCIETY & DEVELOPMENT
SBI honours disabled women achievers
As part of Women's Day celebrations, the State Bank of India felicitated five women achievers who are visually challenged. They are Ms Vaishali Sawarkar, who represented India in the World Open Chess Championship for blind women ...
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TRENDS
You can bank longer!
12-hour banking becomes more common now
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BOOKS
`Fiscal incentives may not go to augment total savings'
To increase savings, postal insurance can be a potent instrument, feels the author. Studies have found that whenever banks showed some degree of instability, households shifted their savings from banks to postal savings.
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