The Hindu Business Line : Friday, September 28, 2007

FOREX
‘Higher rupee both problem and opportunity for exporters’
The Government will work towards a level playing field but exporters must use the strong rupee as an opportunity for greater efficiency and cost consciousness. More

Auto parts makers insist on currency fluctuation clause
Some trying to re-negotiate contracts with US customers More

Rupee sees choppy movement
The forex market saw a choppy dollar-rupee movement on Thursday as the central bank intervened to protect the dollar. The rupee opened stronger at 39.65/68 and touched a high of 39.62. At this level, intervention by the central bank pushed the ... More

LIFE INSURANCE
Max NY Life launches ‘Smart Steps’
Max New York Life has launched Smart Steps range of unit-linked Child Plans to facilitate planning for children’s needs and provide financial protection. The new product, billed as a surety for a secure future of the child of the ... More

IRDA sets up panel on distribution channels
The Insurance Regulatory and Development Authority has constituted a committee to examine the functioning of the various distribution channels for life insurance products. “The authority feels that there is a need for a study to ... More

GENERAL INSURANCE
ICICI Lombard, Nabard to farmers’ rescue
New product to lessen debt burden; launch likely in next kharif season More

PRIVATE BANKS
RelComm ties up with ING Vysya
More

PUBLIC SECTOR BANKS
PNB to upgrade two offices abroad
Punjab National Bank plans to upgrade its representative offices in Shanghai and Dubai to branches. This was stated by Dr K.C.Chakrabarty, Chairman and Managing Director, at a customer relations programme here. He also said that PNB would soon ... More

GOVT BONDS
Bond market range-bound
The bond market was range-bound with the 10-year Government paper moving just one basis point in day trade. The market was rife with rumours that the RBI may announce a CRR hike or enhance the limit of its MSS programme to absorb the excess ... More

CORPORATE BONDS
ICICI Bank bonds fully subscribed
ICICI Bank’s international bond issue of US $ 2 billion was fully subscribed, said a press release from the bank. The five year fixed rate bond had a coupon of 6.625 per cent. The issue received subscriptions worth $ 6.05 billion. ... More

CREDIT MARKET
Banks reach out to urban needy via SHGs
Financial inclusion with a different approach More

SHORT TERM INSTRUMENTS
Call rates close higher
Call rates closed higher at 7-7.25 per cent against the previous close of 6-6.25 per cent. Dealers expect liquidity to tighten tomorrow as it is reporting Friday and also the last working day before the half-yearly closing for banks. Therefore, ... More

ALLIANCES & JOINT VENTURES
Old Mutual may manage Kotak MFs abroad
Mumbai, Sept. 27 Old Mutual Plc may tie up with Kotak Mahindra mutual fund for managing overseas investments. Mr Jim Sutcliffe, Chief Executive, Old Mutual Plc, said this was an opportunity for the company, particularly in the wake of ... More

PEOPLE
Sam Ghosh elevated in Allianz group
Mumbai, Sept. 27 Bajaj Allianz will see top level changes in the leadership of its life and non-life insurance companies.Mr Sam Ghosh, who was the Country Manager and CEO of Bajaj Allianz Life Insurance, will now be the regional CEO of ... More

TRENDS
Travails of a depositor
It is September and the parijat trees are in bloom. Every September it happens and the repetition does not tire or bore. One can inhale them from far. At 5 in the morning, the road below the trees bear a crowd of the white ... More