The Hindu Business Line : Saturday, December 15, 2007

Forex reserves rise $33 m
Mumbai, Dec. 14 The forex reserves increased by $33 million to $273.553 billion for the week ended December 7, due to currency revaluation. Compared to the earlier weeks the increase in this week is slightly subdued. The ... More

HOUSING FINANCE
Canara Bank hikes open offer price for Canfin Homes to Rs 63
Bangalore, Dec 14 Canara Bank has raised the open offer price for acquiring the 43.14 lakh shares of Canfin Homes Ltd to Rs 63 per share.Indbank Merchant Banking Services, acting on behalf of Canara Bank, has informed the stock exchange ... More

LIFE INSURANCE
Max New York Life ties up with Anantapur co-op bank
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LIC Ernakulam division sets first premium target
Kochi, Dec. 14 LIC Ernakulam division has set a target of achieving Rs1,500 crore in the first premium collections during the current financial year. Addressing a press meet, Mr J. Anilkumar, Senior Divisional Manager said that the ... More

CREDIT RATING
Fitch upgrades Axis Bank long-term rating
Mumbai, Dec 14 International ratings agency, Fitch Ratings, today upgraded Axis Bank’s National Long-term rating to ‘AAA (ind)’ from ‘AA+(ind)’. Fitch has also upgraded the bank’s individual rating to ... More

RBI & OTHER CENTRAL BANKS
Bank loans to equity MFs to be part of capital market exposure
Bank loans to equity-oriented mutual funds will now form part of the bank’s total capital market exposure, said the Reserve Bank of India in a note issued today. In its note the RBI said, “Banks are advised to be judicious ... More

PUBLIC SECTOR BANKS
PNB ATM facility
The 37th ATM facility of Punjab National Bank in Kerala was inaugurated at Wandoor in Malappuram district on Friday. The ATM was inaugurated by Dr P.Abdul Kareem, CMD of NIMS Hospital, Wandoor. He said that banking has become more techno ... More

FOREIGN BANKS
Sluggish growth in Citibank India profitability, operational efficiency
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FINANCIAL INSTITUTIONS
3 in fray for IFCI stake
New Delhi, Dec 14 As many as three consortia have submitted their financial bids for buying 26 per cent stake in the country’s oldest financial institution, IFCI Ltd. The last date for submission of financial bids was December 14. ... More

CREDIT MARKET
IIFCL to get $500-m ADB loan
New Delhi, Dec. 14 Asian Development Bank (ADB) would provide India with up to $500 million in loans designed to promote public-private partnerships (PPP) between the Government and the private sector in order to ramp up investments in ... More

ALLIANCES & JOINT VENTURES
Karnataka Bank, Calyon Bank pact
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EVENTS
India is not risky, says RBI Governor
Making assessments strictly ‘by the books’ has limitations More

PEOPLE
Life achievement award
Mr G.J. Siddharth, a differently-abled executive working with ABN Amro, received the Kailashpat Singhania Award for 2007 in recognition of his achievements in life. The award was instituted by the National Society for Equal Opportunities for the ... More

Achievement award
Mr G.J. Siddharth, a differently-abled executive working with ABN Amro here, has received the Kailashpat Singhania Award for 2007 in recognition of his achievements in life. –

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