The Hindu Business Line : Tuesday, February 26, 2008

FINANCIAL SERVICES
Kotak Mahindra Bank’s fee collection service
Coimbatore, Feb. 25 Kotak Mahindra Bank has launched ‘Kotak Smart Fee’, a fee collection service for educational institutes. “This product is aimed to reduce the administrative hassles for the institute, while providing added ... More

FOREX
Rupee tad up in choppy trade
More

SOFTWARE
SunTec’s tool for Axis Bank
Axis Bank has chosen SunTec Business Solutions’ software to centralise and streamline the bank’s pricing and billing processes. SunTec, which develops relationship-based billing and pricing software solutions for several sectors, has ... More

GENERAL INSURANCE
ECGC, UCO Bank tie up
The Export Credit Guarantee Corporation of India Ltd (ECGC) has signed a corporate agency agreement with UCO Bank, according to a press release issued by the bank. Mr S. Prabhakaran, Executive Director of ECGC, and Mr V.K. Dhingra, Executive ... More

FINANCIAL INSTITUTIONS
SIDBI facilitates Rs 50-cr carbon credits to Ludhiana cluster
More

INTEREST RATES
PNB to cut lending rates by 50 bps
Move to be revenue-neutral, says CMD More

GOVT BONDS
Bond prices up 50 paise
More

CRR & BANK RATES
Banks see case for CRR cut as liquidity is tight
Bangalore, Feb. 25 With liquidity remaining tight, some banks have approached the Reserve Bank of India (RBI) for reduction in the Cash Reserve Ratio. The CRR - the balance banks are expected to maintain with the RBI against their net ... More

CREDIT MARKET
Stake in SMEs: SIDBI sets up Rs 100-cr fund
Chennai, Feb. 25 The Small Industries Development Bank of India (SIDBI) wants to put equity money in its customers’ business. And, with a loan from the Asian Development Bank, it is also arming itself with resources to give foreign ... More

SHORT TERM INSTRUMENTS
Call rates close lower
The inter-bank call rates closed lower at 7.75-8 per cent on Monday, against the previous close of 8.75-9 per cent. The call rate touched an intra-day high of 8.50 per cent.In the first one-day reverse repo auction under Liquidity ... More

MERGERS & ACQUISITIONS
HDFC Bank, Centurion boards approve 1:29 share swap ratio
Merger to be complete in 4 months; will leverage strengths in technology, products More

HDFC to maintain stake in merged entity
To raise Rs 3,900 cr, mostly from internal accruals More

IMPACT
Benefits not clear at this juncture
Centurion Bank-HDFC Bank More

TRADE & LABOUR UNIONS
IBA, bank unions sign pact to set timeframe to resolve issues
Mumbai, Feb. 25 The proposed two-day bank strike was called off on Monday after the representatives of bank management and unions agreed to set a timeframe for resolving the contentious issues. The Indian Banks’ Association and ... More

EVENTS
‘Banking products should match rural development’
Mangalore, Feb. 25 The product innovations in the banking sector should match with the rural development, according to Dr Krishna Kothai, Director of Centre for Rural Studies, Manipal. Inaugurating a workshop on ‘Innovations in ... More

CO-OPERATIVES
State co-ops seek higher budgetary provision
Kolkata, Feb. 25 The National Federation of State Cooperative Banks Ltd, the apex body of all state cooperative banks, has submitted to the Union Finance Minister, Mr P. Chidambaram, a six-point memorandum containing several suggestions for ... More

INVESTOR PROTECTION
Unsolicited insurance policies could land you in trouble
‘Make sure it is returned within 15 days from receipt’ More