The Hindu Business Line : Wednesday, June 06, 2007

REGIONAL RURAL BANKS
South Malabar bank to adopt 8 villages
South Malabar Gramin Bank (SMGB), the regional rural bank sponsored by Canara Bank, is set to adopt eight villages in the State to free them from moneylenders. The bank will extend loans to those in need in these villages, which are located in ... More

INSIGHT
The yuan-dollar charade
A yuan revaluation will make goods more expensive for Americans, reducing consumption, apart from forcing the US to hike interest rates on dollars held by Asian central banks. Both the above will push the US into a recession. Why would the Treasury S ecretary push for a policy with such an outcome, asks SHANMUGANATHAN N, offering some answers. More

FOREX
Rupee ends flat
The rupee ended flat to close at 40.52/53 against the previous close of 40.53/54 on RBI's continued intervention. "There was good dollar supplies in the market," said a dealer with a private bank. The domestic currency opened at ... More

LIFE INSURANCE
Insurance cos told to raise rural, urban poor coverage
Micro-insurance policies qualify under rural, social obligations More

PRIVATE BANKS
SMS alert facility extended
Karnataka Bank Ltd has taken steps to extend SMS alert facility to its non-Internet banking customers. A bank release said here on Tuesday that hitherto the facility was extended to bank's Internet banking customers only. This ... More

PUBLIC SECTOR BANKS
IOB saw many a change under Narayanasami
He introduced several changes during his Chairmanship More

Backstop facilities sought for PSUs borrowing
Move comes in the wake of downgrade of ITI to default status More

INTEREST RATES
SBT hikes term deposit rates
State Bank of Travancore has hiked the interest rates for domestic term deposits and non-resident ordinary (NRO) term deposits for various periods with effect from June 6. The revised rates are as follows: seven days to 14 days ... More

GOVT BONDS
Bonds shed 5 paise
Bond prices fell by around 5 paise after the RBI conducted a Rs 9,000-crore government securities auction. Total traded volumes on the order-matching system were Rs 1,900 crore (Rs 3,220 crore). "Prices were range-bound but there ... More

SHORT TERM INSTRUMENTS
Call rates end low at 0.3-0.5%
The inter-bank call rates dropped to close at a low of 0.3-0.5 per cent today against the previous close of 0.4-0.6 per cent due to surplus cash in the system. "The high liquidity in the system will continue to remain," said Mr ... More

FIXED DEPOSITS
The deposit free lunch
Count your blessings if you are a cash rich corporate. For, a bank deposit rate war is on. It has been around from late 2006 and is, of course, nothing new. The last quarter of every financial year sees banks, especially of the public sector ... More

TRADE & LABOUR UNIONS
SBI officers to strike on June 8
As many as 65,000 officers of State Bank of India (SBI) are to go on a day's strike on June 8. The decision to observe a day's strike is a fallout of the management's move to go back on certain understandings reached on May 15, according to Mr ... More