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FINANCIAL SERVICES
Muthoot plans money transfer
Muthoot Exchange Company which has obtained the Authorised Dealer Category II Licence from the RBI recently and plans to start its own money transfer operations. Addressing a press conference, Mr George Alexander Muthoot, Managing Director, ... More

FOREX
‘Rising rupee, inflows hit entire industry, not just exports’
PM invites ideas from industry on education More

Rupee ends flat
More

INSURANCE
Insurers upbeat on bancassurance channel
Coimbatore, Dec 18 A Watson Wyatt study on India’s bancassurance sector has revealed that bancassurance would generate about 35 per cent of the private insurers’ premium income by 2008.The study entitled ‘India ... More

NBFCS
SKS Microfin begins operations in Kerala
Kochi, Dec. 18 SKS Microfinance, a registered NBFC, has launched its operations in Kerala to provide income generating loans and other financial services in a sustainable manner. The company commenced its operations in Ernakulam and ... More

LIFE INSURANCE
ING Vysya Life conducts contest
ING Vysya Life, as part of commemorating the launch of its new product called ING Creating Star Education Guarantee Plan, has conducted a drawing and essay writing contest for school children in Kochi. Over 1,000 school children from eight ... More

Tata AIG unveils plans for United Bank customers
Mumbai, Dec 18 Tata AIG Life Insurance Company Ltd (Tata AIG Life) has launched ‘United Child Solutions’ – a range of insurance offerings for the customers of United Bank of India. It is available in three ... More

FINANCIAL MARKETS
Fed cuts 25 bps, reserves judgment
More

PRIVATE BANKS
TMB branch at Rasipuram
The Tuticorin-based Tamilnad Mercantile Bank has opened its 198th and fully computerised branch at Rasipuram in Namakkal district. Speaking on the occasion, Mr G. Narayana Moorthy, Managing Director and CEO, said the bank has been focusing more ... More

FINANCIAL INSTITUTIONS
IFCI stake sale likely to be wrapped up today
New Delhi, Dec 18 IFCI Ltd is likely to finalise on Wednesday a deal to sell 26 per cent stake to a consortium of Sterlite Industries and Morgan Stanley. Sources said that the Sterlite Industries and Morgan Stanley combine is the only ... More

CORPORATE BONDS
IFCI board sets debenture conversion price at Rs 107/share
A committee of directors of IFCI Ltd has decided to issue about 12.374 crore new equity shares at a price of Rs 107 per share (including premium of Rs 97 per share) to public sector banks and financial institutions (FIs). These shares are to ... More

Dull trading in bonds
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SHORT TERM INSTRUMENTS
Call rates close higher
The inter-bank call rates closed higher at 7.30-7.50 per cent against the previous close of 6.50-6.75 per cent. In the first one-day reverse repo auction, under Liquidity Adjustment Facility, the Reserve Bank of India received and accepted one ... More

OUTLOOK
Banks mull measures to curb bulk deposit growth
May cut bulk deposit rates by 25-50 bps in coming weeks More

PEOPLE
Doha Bank CEO wins award
Mr R. Seetharaman, CEO, Doha Bank, and Chairman, Doha Brokerage & Financial Services (DBFS) Ltd, has won an American award for his contribution to promoting US-Qatari trade and financial ties. The certificate of appreciation was conferred on ... More

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