The Hindu Business Line : Thursday, June 07, 2007

Rupee weakens by 14 paise
The rupee weakened by about 14 paise against the greenback on speculation that "the central bank was buying dollars to curb its appreciation," said a dealer with a private bank. The domestic currency opened at 40.54/56 and saw an ... More

INFORMATION TECHNOLOGY
`Core banking has not made much difference in banking system'
Banks and financial institutions in the country might lay a major thrust to the adoption of packaged software in areas beyond core banking. The non-core banking applications are that of customer relationship management and human resources ... More

INSURANCE
Micro insurance offers new ways to combat poverty
Study highlights avenues for energising rural market More

SOFTWARE
Oracle offers back-office tool for coop banks
Oracle has announced the launch of a complete back-office solution for cooperative banks in the country. With the help of Oracle-certified partner EBZ Online, Oracle will offer affordable IT solution to all categories of cooperative banks, ... More

HOUSING FINANCE
HDFC plans offering reverse mortgaging
Housing Development Finance Corporation Ltd (HDFC) will offer reverse mortgaging to take care of senior citizens' need for funds as a new line of business and come out with the product in a month. The Chairman, Mr Deepak Parekh, also made a ... More

FINANCIAL INSTITUTIONS
APSFC plans one-stop-shop for financial services
During June, Andhra Pradesh State Financial Corporation (APSFC) has decided to virtually go to the doorsteps of the entrepreneurs in the State. The objective is to provide a `One-stop-shop', financial services to them. The corporation will ... More

GOVT BONDS
Bond prices fall on profit booking
Bond prices fell by around 20 paise on profit booking. Total traded volumes on the order matching system were Rs 2,760 crore (Rs 1,900 crore). Traders were pruning their position and booking profits, said a dealer at a private ... More

SHORT TERM INSTRUMENTS
Call ends low at 0.2-0.3%
Call rates closed at 0.2-0.3 per cent today against the previous close of 0.3-0.5 per cent. The Reserve Bank of India received bids worth Rs 1,09,525 crore through the reverse repo window in the two sessions of the Liquidity ... More

MORTGAGE
NHB working with insurance cos for `mortgage assurance'
Guidelines on standardisation of processes for housing finance soon More

PEOPLE
Public sector banks get additional EDs
The Finance Ministry on Wednesday strengthened the top management of six public sector banks by appointing an additional executive director in each of these banks. These six additional EDs were hitherto general managers in various PSBs. The ... More

Narayanasami takes over as BoI chief
Bank of India (BOI) on Wednesday said that Mr T.S. Narayanasami has taken charge as Chairman and Managing Director of the bank with effect from June 4. Prior to the current assignment, Mr Narayanasami was Chairman and Managing ... More