The Hindu Business Line : Tuesday, January 29, 2008

FINANCIAL SERVICES
Reliance Money to cover 5,645 tehsils for product distribution
Mumbai, Jan. 28 Reliance Money is aiming to take up the distribution reach of the company to all the 5,645 tehsils of the country after having succeeded in mobilizing 10 lakh plus IPO applications for the Reliance Power that concluded ... More

INSIGHT
Turbulence in financial markets and the way ahead
More

FOREX
Rupee dips marginally
The rupee slightly depreciated against the dollar tracking the weakness in the domestic stock market. The domestic currency opened weak at 39.40/41 and fell to an intra-day low of 39.47/48. It ended the day at 39.38/39, against the previous close ... More

CREDIT POLICY
RBI may cut 25 bps in symbolic move
The life of the central banker has never been more difficult and challenging.In the good old days, it was enough if he focused on the domestic economy, its growth prospects and inflation, while cocking an eye on the current account and ... More

Banking stocks shine ahead of Credit Policy
ICICI Bank leads Bankex with sharp gains More

Hopes of rate cut drive up auto stocks
Kolkata, Jan. 28 A group of market participants expecting a cut in cash reserve ratio or in repo rate by the Reserve Bank of India tomorrow, picked up interest sensitive sector stocks. BSE Auto Index closed in the green along with the Bankex ... More

LIFE INSURANCE
Kotak Mahindra Life targets growth of 100% in new biz premium
Mumbai, Jan. 25 Kotak Mahindra Life Insurance plans to sustain a growth of around 100 per cent in new business premium over the next year.In the first nine months of the fiscal, the company has raked in new business premium of Rs 560 ... More

GENERAL INSURANCE
GIC Re opens branch in London
The General Insurance Corporation of India (GIC Re) has inaugurated its branch office in London. The Finance Minister, Mr P. Chidambaram, who inaugurated the office described it as a “giant step” in the international expansion of GIC ... More

PUBLIC SECTOR BANKS
United Bank plans financial clinics in metros
Sales of retail products, MFs, insurance policies More

FINANCIAL INSTITUTIONS
BNP Paribas infuses Rs 570 cr in Indian operations
Mumbai, Jan 28 The BNP Paribas Group has injected around Rs 570 crore (€500 million) in its Indian operations in the recently concluded quarter.With this latest equity infusion, the capital base of the bank will be enhanced to Rs ... More

GOVT BONDS
Bond prices down 20-25 paise
The bond market was weak with bond prices losing 20-25 paise, as dealers are expecting the monetary policy, which will be announced on January 29, to focus more on inflation than on growth. A bond dealer with a private bank said that though the ... More

SHORT TERM INSTRUMENTS
Call rates move up
Call rates closed at 6.8-6.9 per cent, higher than the previous day’s close of 6-6.1 per cent. In the one-day auction under Liquidity Adjustment Facility, the RBI received and accepted nine reverse repo bids for Rs 13,780 crore. There were ... More

MERGERS & ACQUISITIONS
ERGO to get 26% stake in HDFC General Insurance
Mumbai, Jan. 28 The Insurance Regulatory and Development Authority has given its in-principle approval for the transfer of 26 per cent stake in HDFC General Insurance Company, held by HDFC Ltd, to ERGO International AG, part of the Munich Re ... More

OVERSEAS INVESTMENTS
PSBs want Fed Reserve to ease acquisition norms
Govt, RBI urged to exert pressure More