The Hindu Business Line : Saturday, June 23, 2007

FARM CREDIT
Bench flays `extra constitutional' methods for bank loan recovery
Banks resorting to "extra constitutional" method, like engaging recovery agents, to recover dues from debtors could not be condoned, and the lender bank had ample power to seek recovery, the Madurai Bench of the Madras High Court has held. Mr ... More

FINANCIAL SERVICES
BlazeFlash offers new service
BlazeFlash will now offer MoneyGram's money transfer services through its 290 branches throughout the country. The courier company has signed up with TradeWings, a principal agent of Money Gram India, to offer the services. ... More

Citigroup India net up 39%
Citigroup India said that its net profit for the fiscal year 2006-07 grew 39 per cent, on a conglomerate basis, to Rs 1,566 crore against Rs 1,127 crore in the previous year. The net profit of Rs 1,127 crore in fiscal 2005-06 ... More

FOREX
Rising rupee impact: Package likely for exporters soon
PM looking into the matter, says Commerce Secy More

Forex reserves up by $1.46 b
The country's foreign exchange reserves rose $1.468 billion to $211.015 billion in the week ended June 22 mainly due to the RBI's intervention in the forex market. The reserves had increased by $1.174 billion to $209.547 billion in the week ... More

Rupee down on dollar buying
The rupee weakened on Friday by around three-four paise on dollar buying by some foreign banks. The home currency opened at 40.75/77, touched an intra-day high of 40.79-80 to finally close at 40.75/76 against Thursday's close of ... More

INSURANCE
`Insurance biz size may touch $60 b by 2010'
The size of the insurance business will jump six times to reach $60 billion by 2010 from the current size of around $10 billion, according to industry chamber Assocham. The projections are based on the feedback the chamber received from its ... More

PUBLIC SECTOR BANKS
`Further hardening of interest rates unlikely with surplus liquidity'
IDBI Bank plans to increase retail portfolio, expand lending avenues More

`The new chairman effect'
Business strategies bear the brunt of change of guard More

SBI Act ordinance promulgated
The Centre would make cash payment of Rs 35,531.33 crore to the Reserve Bank of India for acquiring the latter's entire holding in State Bank of India (SBI). Currently, the RBI has a 59.73 per cent stake in SBI, which is the ... More

GOVT BONDS
Bond prices unchanged
Bond prices were almost flat as dealers were apprehensive about the RBI announcing auctions for next week. Total traded volumes on the order matching system were Rs 4,920 crore (Rs 4,370 crore). Market participants were expecting ... More

CREDIT MARKET
Plan panel may soon submit views on Deepak Parekh report
RBI, SEBI and IRDA will also give comments on infrastructure financing proposals More