The Hindu Business Line : Wednesday, June 20, 2007

FINANCIAL SERVICES
SBICAP Securities gets nod to manage portfolios
SBICAP Securities Ltd has obtained licence from the Reserve Bank of India to offer portfolio management services and the product would be available to investors by September. The company plans to expand its branch network to 50 by the end of the ... More

INSIGHT
Bye hedge funds, Welcome `sovereign wealth managers'
Projections of sovereign wealth under management run into trillions of dollars, dwarfing today's private equity and hedge funds. More

FOREX
Exchange fluctuations cause shifts in `cost of living'
Rising property prices have caused Indian cities to move up ranking More

Rupee falls against greenback
The rupee fell by around 4 paise against the dollar on the back of demand from banks. The domestic currency opened at 40.70 and fell to close the day at 40.81, against the previous close at 40.77/78. Dealers said strong dollar ... More

SBH workshop on Forex
State Bank of Hyderabad is organising a one-week orientation workshop on Forex under the auspices of Foreign Exchange Dealers' Association of India and the RBI at its Staff Training Centre here. Many officials from authorised ... More

FINANCIAL PERFORMANCE
Srei Infra clocks 64% rise in annual net
Srei Infrastructure Finance Ltd (SIFL) has reported 64 per cent increase in profit after tax to Rs 79.2 crore for the year ended March, up from Rs 48.4 crore in the previous year. Total income grew by 76 per cent to Rs 400 crore (Rs 227.2 ... More

HOUSING FINANCE
LIC Housing launching reverse mortgage product soon
LIC Housing Finance Ltd will be foraying into the reverse mortgage segment within a month. "We see huge potential in the reverse mortgage segment in view of the changes in the social and economic fabric of the country and will launch our first ... More

GENERAL INSURANCE
Non-life insurers getting ready for new regime
Shifting to half-yearly solvency reporting in line with global practices More

GOVT BONDS
Bond prices shed 15 paise
The bond prices fell by 15 paise and the yields went up by two basis points on profit booking by traders. The yields on the 10-year-paper ended at 8.22 per cent against the previous close of 8.2 per cent. Traders expect the ... More

SHORT TERM INSTRUMENTS
Call ends low at 1-1.25%
Buoyed by the surplus cash in the system, the inter-bank call rates closed at a low of 1-1.25 per cent on Tuesday against the previous close of 2.75-3 per cent. The Reserve Bank of India received bids worth Rs 79,590 crore ... More

FIXED DEPOSITS
PNB not to extend `Mahabachat' beyond June 30
Punjab National Bank (PNB) has decided not to extend its `PNB Mahabachat' scheme beyond June 30. This is a special fixed deposit scheme launched by the bank early this calendar year to boost its deposits base and fund the surge in credit ... More

OUTLOOK
UCO Bank mulls offering stock broking services
Will focus on NPAs recovery; may sell bad loans to asset reconstruction cos More

PEOPLE
New CEO of AEGON Religare
AEGON Religare Life Insurance Company Ltd, the joint venture of AEGON NV and Religare, on Tuesday announced that it has appointed Mr Rajiv Jamkhedkar as CEO. Currently, Mr Jamkhedkar is Head of Personal Lending at CitiBusiness, ... More