The Hindu Business Line : Friday, June 01, 2007

PENSION PLANS
4 players shortlisted for managing pension funds
The Pension Fund Regulatory and Development Authority (PFRDA) has shortlisted four players — Life Insurance Corporation of India, State Bank of India, UTI AMC and IDBI Capital — to mange the pension funds under the new pension scheme ... More

FOREX
Chidambaram confident of sustaining over 9% growth rate
`The way forward to eradicate poverty, generate quality employment' More

Rupee gains 25 paise
The rupee strengthened by about 25 paise against the greenback owing to strong inflows into market. "There was good dollar supplies throughout the day," said a dealer with a private bank. The domestic currency opened at 40.83/85. ... More

GENERAL INSURANCE
ICICI Lombard grabs 2nd spot in insurance sweepstakes
Registers 35% growth, displaces three PSUs More

PUBLIC SECTOR BANKS
Canara Bank in pact with Rlys
Canara Bank, Thiruvananthapuram Circle, has entered into a memorandum of understanding with the Southern Railway division here for installation of 11 ATMs-cum-e-ticketing kiosks at the railway stations in the State. The ATMs will be installed ... More

2 more United Bank branches in UP
United Bank of India has opened two more branches at Bulandshahr and Hardoi in Uttar Pradesh, says a press release. With this, the total number of branches of the bank has gone up to 1331. The bank also has 64 extension counters ... More

INTEREST RATES
Adopt transparent method for lending rates, banks told
Lending below PLR has several implications, says RBI report More

GOVT BONDS
Bond prices rise 20 paise
Bond prices rose by around 20 paise on reports of a possible drop in inflation. Total traded volumes on the order-matching system were Rs 4,685 crore (Rs 2,325 crore). Dealers said news reports that domestic inflation had fallen ... More

CREDIT MARKET
Talks on urban infrastructure fund
The Government is talking to the World Bank for setting up an urban infrastructure fund for making available easy loans for city development programmes, said Mr M. Ramachandran, Secretary, Union Ministry of Urban Development. "We ... More

SHORT TERM INSTRUMENTS
Call money market: More flexibility for banks likely
The RBI has said that banks may be allowed to borrow, lend in the inter-bank call money market based on their ALM rather than prudential limits. More

Call rates plunge to 10-year low
With the system awash with surplus cash, the inter-bank call rates dipped to a 10-year low of 0.50 - 0.75 per cent on Thursday, even lower than Wednesday's 1 - 1.25 per cent. "There is about Rs 25,00035,000 crore of surplus cash in the ... More

ALLIANCES & JOINT VENTURES
SREI ties up with BNP Paribas Lease for equipment finance
The Kolkata-based SREI Infrastructure Finance Ltd has entered into a 50:50 joint venture with BNP Paribas Lease Group (BPLG) for equipment finance in India. The joint venture formed will have an initial networth of Rs 800 crore. "BPLG will ... More

PEOPLE
ING Vysya appoints new wholesale banking head
ING Vysya Bank announced the appointment of Mr Janak Desai as Country Head - Wholesale Banking, India with effect from May 12. Mr Desai was earlier Country Head - Financial Markets, India at the bank, He will now be responsible for the ... More