The Hindu Business Line : Tuesday, November 20, 2007

FOREX
Brace up for stronger Re, Kamath tells India Inc
Mumbai, Nov. 19 Mr K.V. Kamath, Managing Director and CEO of ICICI Bank, on Monday advised Indian companies to prepare themselves for a stronger rupee.He felt that the rupee was likely to strengthen by one to two rupees a year against ... More

Rupee ends flat
The rupee closed almost unchanged at 39.3350/3550 against Friday’s close of 39.33. The domestic currency had opened stronger at 39.28/30 and touched a low of 39.35 and a high of 39.28 during day trade. A forex dealer with a private bank ... More

LIFE INSURANCE
Andhra Bank enters life insurance biz
Andhra Bank has forayed into life insurance business by partnering with Bank of Baroda and Legal and General, a British insurer. “We have entered into a Memorandum of Understanding a couple of days ago with Legal and General, and Bank of ... More

RBI & OTHER CENTRAL BANKS
Banks told to rely upon guardianship certificate
Mumbai, Nov. 19 Banks and banking sector have been asked to accept the Guardianship Certificate issued either by the District Court under Mental Health Act or by the Local Committees under the above Act for the purpose of opening and operating ... More

PRIVATE BANKS
South Indian Bank plans more branches in Karnataka
More

PUBLIC SECTOR BANKS
Syndicate Bank clocks Rs 2,694-cr biz in Mangalore
Mangalore, Nov. 19 The Mangalore region of Syndicate Bank, comprising Dakshina Kannada and Chikmagalur districts, registered business of Rs 2,694 crore at the end of September 30, according to Mr K.U. Shanbhag, Deputy General Manager of ... More

ICICI Pru MF teams up with Central Bank
Mumbai, Nov. 19 ICICI Prudential AMC has entered into a strategic partnership with Central Bank of India for distribution of its mutual fund schemes to further strengthen its distribution reach. Central Bank of India will now be distributing ... More

FINANCIAL INSTITUTIONS
SIDBI to help Ludhiana’s steel forging units adopt cleaner technologies
World Bank backs the project by agreeing to purchase CER units More

APSFC planning to raise Rs 750 cr
Andhra Pradesh State Financial Corporation (APSFC) will be raising Rs 750 crore next year to meet its fund requirements. “The objective is to expand our business to reach over a billion dollars by 2009-10. We will take the debt ... More

GOVT BONDS
Bond prices rise marginally
Bond prices went up marginally by two paise even while the market remained thinly traded on Monday on concerns of liquidity in the system. The total traded volumes on the order matching system were at Rs 1,620 crore (Rs 1,080 crore). The banks ... More

CREDIT MARKET
Syndicate Bank unveils online loan application facility
Mumbai, Nov. 19 Syndicate Bank has launched an online loan application facility that does away with the branch as an intermediary for generating loan queries. The bank has launched this facility for housing loans, educational loans, Rs ... More

Rising input costs hurt Yavatmal’s cotton farmers
Bank loans prove insufficient; clutch of private money-lenders still tight More

SHORT TERM INSTRUMENTS
Call rates end at 7.75-8%
The inter-bank call rates closed at 7.75-8 per cent on Monday. In the first one-day reverse repo auction under Liquidity Adjustment Facility, the Reserve Bank of India received and accepted one bid for Rs 5 crore. In the first one-day repo ... More

TRADE & LABOUR UNIONS
SBI staff body to oppose merger of associate banks
Kolkata, Nov. 19 State Bank of India Staff Association (SBISA) will oppose the merger of associate banks with State Bank of India, despite having agreed to the merger of Bank of Saurashtra with the parent bank, according to the association ... More