MONEY & BANKING
FOREX
Vaghela hints at relief for rupee-hit textile exporters
Interest subsidy outstanding under TUFS may be released
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`Foreign inflows bound to create pressure on dollar'
`Expectations of rupee touching 35-36 levels far-fetched'
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Re appreciation: FIEO chief meets Commerce Secy
The Federation of Indian Export Organisations (FIEO) has made a slew of suggestions to the Government to help soften the blow of appreciating rupee on the exporting community. In his meeting with the Commerce Secretary, Mr G. K. Pillai, here on ...
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Rupee weakens by 5 paise
The rupee weakened by about 5 paise against the dollar on sustained buying of the greenback. A dealer with a private bank said: "There was good dollar buying towards the latter part of the day." The home currency opened at ...
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FINANCIAL PERFORMANCE
Tamilnad Mercantile Bank full-year net up
To open 17 branches, 28 offsite ATMs
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GENERAL INSURANCE
IRDA review meeting with non-life insurers on June 11
To discuss converting IMIP into a separate body
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FOREIGN BANKS
Foreign bank picking up stake in Repco Home Fin
Due diligence over; co in the final stage of negotiations
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GOVT BONDS
Bond prices gain 20 paise
Bond prices rose around 20 paise and yields went down by about three basis points due to excess liquidity in the system. "Excess liquidity in the system has made the market players concerned over RBI's action to control ...
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CREDIT MARKET
Banks consider hiking interest rates on loans against securities
Triggered by recent modifications in rate structure
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SHORT TERM INSTRUMENTS
Call rises on excess cash flow
The inter-bank call rates closed at 0.3-0.4 per cent on Thursday against the previous close of 0.2-0.3 per cent as excess cash flooded the system. "There was surplus cash of about Rs 25,000-30,000 crore in the system. There was ...
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MERGERS & ACQUISITIONS
Foreign investors pick up 16.47% stake in TMB
Foreign investors have picked up 46,862 shares of Tamilnad Mercantile Bank Ltd (TMB), which works out to 16.47 per cent of the paid-up equity of the bank, sources in the know told Business Line today. Members of the Nadar community have ...
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PEOPLE
Ministry may tweak branch norm on EDs appointment
The Finance Ministry plans to take a re-look at the criteria for appointment of additional executive directors (EDs) in public sector banks (PSBs), especially from the viewpoint of the number of branches. Currently, the additional ED ...
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