The Hindu Business Line : Thursday, August 09, 2007

DIVIDEND ANNOUNCEMENT
PNB pays dividend to Centre
Punjab National Bank (PNB) on Wednesday paid a final dividend of 60 per cent amounting to Rs 109.34 crore to the Union Government for 2006-07. The bank had already paid an interim dividend of 40 per cent amounting to Rs 72.90 crore to the ... More

FOREX
Rising rupee impacts star hotels’ topline growth
Overall growth maintained on booming economy More

Mixed views on impact of tighter ECB norms
‘Indirect boost to IT, textiles stocks; Banks to see more loan demand’ More

Rupee weakens by 11 paise
The rupee weakened by 11 paise against the greenback on Wednesday to close at 40.52/53, down from the previous close of 40.41/42. The rupee opened nearly 34 paise weaker than the previous close as a reaction to the curbs on external ... More

INSURANCE
Taking insurance to rural India
Start-up broking firm does it with mobile office More

GENERAL INSURANCE
Apollo Group, DKV AG launch health insurance company
New Delhi, Aug. 8 The Apollo Hospitals Group and DKV AG, Europe’s largest private health insurer and a Munich Re Group company, on Wednesday launched Apollo DVK Insurance Company — the second standalone health insurance company in ... More

CREDIT RATING
CIBIL has 90 m borrower accounts in database
3-digit credit score for individuals soon More

FINANCIAL INSTITUTIONS
IRFC open to diversification, if credit rating is not affected
With the Indian Railways lining up mega-projects such as the dedicated freight corridor, the Indian Railway Finance Corporation (IRFC), the finance raising arm of the Indian Railways, says it is open to diversification and taking on additional ... More

GOVT BONDS
Bond prices drop 57 paise
The bond yields rose by almost 10 basis points and the prices fell by 57 paise on concerns over curbing of external commercial borrowings to modulate capital inflows. "Though the liquidity was comfortable, the sentiment was bearish in the ... More

CREDIT MARKET
‘ECB curbs may not impact much funds inflow’
Mumbai, Aug. 8 The recent restriction on overseas borrowings by corporates may curb inflows of foreign funds into the country only to a small extent, say bankers. They were, however, divided on the impact of this move on the value of the ... More

SHORT TERM INSTRUMENTS
Call rates steady
The inter-bank call rates closed at 6.10 – 6.20 per cent . “The liquidity levels are comfortable despite heavy outflows to meet bank’s higher reserve requirements,” said a dealer with a private bank. The Reserve Bank of ... More

ALLIANCES & JOINT VENTURES
ICICI Bank ties up with IFC, IBM for SME toolkit
Online resource in 13 languages More

CO-OPERATIVES
Bengal signs pact with RBI
More

OUTLOOK
Deutsche Bank hopes to begin NBFC ops early next year
New Delhi, Aug. 8 Deutsche Bank expects its non-banking finance company (NBFC) operations in India to commence in early 2008. “We are more than close to obtaining licence from the Reserve Bank of India for setting up a NBFC here ... More