MONEY & BANKING
COURTS/LEGAL ISSUES
HC rejects plea for probe into Lord Krishna Bank affairs
Kochi, Aug. 22 The Kerala High Court on Wednesday declined to give a direction to the Union Government to appoint inspectors under the provisions of the Companies Act to investigate the affairs of Lord Krishna Bank Limited (LKBL) including its ...
More
FOREX
Rupee closes firm
The rupee ended firm against the dollar on Wednesday because the dollar supply outstripped demand. The rupee movement also tracked the stock market, which closed higher. The rupee opened at 41.05/06 and closed at 40.90, about 18 paise up from ...
More
SOFTWARE
IIRM, Rocsys sign MoU for Basel-II
Hyderabad, Aug 22 The Institute of Insurance and Risk Management (IIRM) here and Rocsys, a software company, have entered into an understanding to provide Basel-II solutions to banks.Rocsys, also a Hyderabad-based company, has developed ...
More
LIFE INSURANCE
ICICI Pru Life to launch LifeStage RP
Mumbai, Aug. 22 ICICI Prudential Life Insurance will soon be launching LifeStage RP, which offers age-based portfolio management and quarterly rebalancing. The risk appetite of individuals changes with age and as the policyholder moves ...
More
DEBT MARKET
RBI announces auction of Rs 3,500 crore
Mumbai, Aug. 22 The Reserve Bank of India has announced an auction of Rs 3,500 crore through Treasury Bills, of which Rs 2,500 was the Market Stabilisation Scheme (MSS) amount.In the 91-day T-bill, the notified amount was Rs 2,000 ...
More
Govt stock auction fully subscribed
The auction of 5.48 per cent Government Stock, 2009 was fully subscribed. The notified amount for the paper was Rs 4,000 crore. RBI received 176 competitive bids for Rs 14,813 crore. The cut-off price was Rs 95.97 (7.9149 per cent YTM). Of these, ...
More
Bond yields down 4 bps
Bond prices rose by 31 paise and the yield on the 10-year paper fell by four basis points. The prices were range-bound during the day but later went up due to good cut-off yields from auctions. The total traded volumes on the order matching ...
More
PUBLIC SECTOR BANKS
Image makeover apace at Union Bank
Thiruvananthapuram, Aug. 22 The business, organisational and process makeover capped by an extensive re-branding exercise is in the final stages of implementation at Union Bank of India. The new face of the 88-year-old public sector ...
More
ICICI Pru AMC in tie-up with UBI
ICICI Prudential AMC has tied up with United Bank of India (UBI) for the distribution of its mutual fund schemes across India, a statement said. UBI will now distribute ICICI Prudential mutual fund products through 182 branches across the ...
More
NON-PERFORMING ASSETS
ARCIL consolidating SPIC loans
Chennai, Aug. 22 Having bought close to 25 per cent of the bad loans of SPIC from various banks, the Asset Reconstruction Company of India (ARCIL) is wanting to buy more.Nine banks are to meet with ARCIL here on Thursday. SPIC owes Rs ...
More
CREDIT MARKET
Realty got plenty of bank money last fiscal
Home loans account for much of the funding
More
US firm sets up NBFC to finance urban poor
Company’s first office in India inaugurated
More
Syndicate Bank, Fitch in pact
Syndicate Bank has entered into a Memorandum of Understanding (MoU) with credit rating agency Fitch. A bank release said that the MoU would facilitate access for small and medium enterprises to reliable rating services to enhance credit ...
More
SHORT TERM INSTRUMENTS
Call rates steady
The inter-bank call rates closed at 6.10-6.25 per cent on Wednesday, against the previous close of 6.10-6.20 per cent. In the first reverse repo auction under LAF, the Reserve Bank of India received and accepted nine bids for Rs 13,885 crore. ...
More
CREDIT CARDS & DEBIT CARDS
Premium credit cards growth doubles
Mumbai, Aug. 22 Premium category credit cards have seen 100 per cent growth on a year-on-year basis and some senior bankers expect it to grow at over 50 per cent against expected growth of 25-30 per cent for regular credit cards.Premium ...
More
MORTGAGE
GreenPoint closure: Minimal impact on domestic vendors
Bangalore Aug. 22 The closure of Capital One’s wholesale mortgage banking unit, GreenPoint Mortgage, has hit the Indian vendors such as InfosysBPO and iGATE Global.Capital One, citing “an unprecedented set of market ...
More
Sub-prime woes: BPOs rule out immediate layoffs
Affected workforce being redeployed
More
ALLIANCES & JOINT VENTURES
Green projects get support
More
M-COMMERCE
United Bank ties up with Sybase
Mumbai, Aug. 22 The Kolkata-based United Bank of India (UBI) has entered into a partnership with mobile content firm Sybase 365, under which Sybase will provide SMS enquiry services for the bank’s customers across the country. The ...
More
CO-OPERATIVES
Revamp co-operative banks: Staff union
Coimbatore, Aug. 22 The All India Co-operative Bank Employees’ Federation has repeated its demand for revamping co-operative banks in the country.The General Secretary of the Tamil Nadu Co-operative Bank Employees Association, Mr ...
More
PEOPLE
New zonal chief for Central Bank of India
Mr V. Sudhakar Rao has taken over as the Zonal Manager, Central Bank of India (CBI), from Mr K. Subramanian, who has been transferred to Central Office, Mumbai. According to a Bank release, Mr Rao was Deputy General Manager, Chennai ...
More
Comments & Letters to the Editor to: bleditor@thehindu.co.in
Subscribe to: Business Line
|
RSS Feeds