The Hindu Business Line : Thursday, November 08, 2007

FOREX
Rupee closes flat against dollar
The rupee ended flat at 39.31due to vigorous intervention by the Reserve Bank of India. The home currency opened on a strong note at 39.24/26 and saw an intra-day fresh nine-year high of 39.18 before ending the day at 39.31, similar to the ... More

INSURANCE
Transparency in insurance accounting proposed
ICAI wants cos to give enough scope for liability adequacy test More

STOCKS
Banking stocks up on UTI IPO plans
Three banking stocks – State Bank of India, Punjab National Bank and Bank of Baroda – have been gaining on the bourses of late. BoB gained 15.24 per cent week-on-week and SBI jumped 9.64 per cent, while PNB improved about 4 per cent ... More

HOUSING FINANCE
LIC Housing mulls pref equity issue
LIC Housing Finance may look at the possibility of issuing equity shares through preferential allotment to promoters or investors. This is in addition to the option of issuing equity shares on Qualified Institutional Placement basis, the company ... More

GENERAL INSURANCE
Pvt sector insurers’ H1 premium accretions rise
Growth momentum sustained on shift to retail lines of biz More

FINANCIAL POLICY
RBI eases remittance limit for diamond importers
Mumbai, Nov 7 The Reserve Bank of India has further relaxed the remittance limit to $300,000 from $100,000 to importers of rough diamonds provided import bills and documents are directly procured from overseas suppliers. The importer ... More

HUMAN RESOURCES
7 GMs elevated as Executive Directors of PSBs
New Delhi, Nov 7 The Government has elevated seven General Managers from various public sector banks to the post of Executive directors, filling up top level vacancies in certain banks. Sources said that the Department of Financial ... More

RBI & OTHER CENTRAL BANKS
RBI forms working group on farm debt
Mumbai, Nov. 7 The Reserve Bank of India has constituted an Internal Working Group under the Chairmanship of Mr V.S. Das, Executive Director, Reserve Bank of India, in order to examine the recommendations of the Radhakrishna Expert Group on ... More

GOVT BONDS
Bond prices remain firm
More

SHORT TERM INSTRUMENTS
Call ends low at 6-6.1%
The inter-bank call rates closed lower at 6-6.1 per cent, against the previous close of 6.4-6.5 per cent. In the first one-day reverse repo auction under Liquidity Adjustment Facility, the Reserve Bank of India received and accepted six bids for ... More