The Hindu Business Line : Saturday, May 10, 2008

FOREX
Forex reserves fall $371 m
Mumbai, May 9 Foreign exchange reserves fell by $371 million, to touch $312.5 billion for the week ended May 2, according to the Reserve Bank of India’s Weekly Statistical Supplement. This is the second time in a row that foreign ... More

Rupee ends higher in choppy trade
The rupee closed about 15 paise higher in a choppy market that saw both way movements. The rupee opened flat at 41.70 on lack of cues, but soon fell to 41.76, which was the day’s low. At those levels there was heavy dollar selling by large ... More

FINANCIAL PERFORMANCE
Kotak Mahindra Bank Q4 net rises 86%
Provides Rs 86 cr for forex derivatives ‘stressed cases’ More

Manappuram General Finance net up 98% at Rs 2,099 lakh
Kochi, May 9 Manappuram General Finance and Leasing Ltd (MAGFIL), the flagship company of the Kerala-based Manappuram Group, has reported a 98 per cent increase in net profit for the year ended March 31 at Rs 2,099 lakh, compared to Rs 1,061 ... More

INTERNET
New insurance portal launched
Optima Insurance Brokers Pvt Ltd, an insurance broking firm, on Thursday launched ‘Click2insure.in’, an insurance portal. The portal provides information on insurance products in five areas of travel, auto, health, home and term life ... More

LIFE INSURANCE
Max New York rules out sectoral funds as investment option for now
To offer more choices under ULIPs More

Life Insurance Council appointment
Mr S.B.Mathur, former Chairman, Life Insurance Corporation, has taken over as Secretary-General, Life Insurance Council, effective from Friday. He replaces Mr S.V.Mony, who handled this responsibility for the last three years. Mr Mathur had ... More

GENERAL INSURANCE
Non-life insurers may be allowed to amend clauses: IRDA chief
Mumbai, May 9 Non-life insurance companies may soon be able to tweak the terms, conditions and wordings of their fire, engineering and motor insurance policies.While fire, engineering and motor insurance policies are no longer under ... More

ONGC maintains offshore cover at $29 m
More

PUBLIC SECTOR BANKS

New ATM of PNB launched

FOREIGN BANKS
Citi group appointment
Citi has announced the appointment of Mr N. Rajashekaran as Country Business Manager (CBM), Global Consumer Group, in India. He succeeds Mr P.S. Jayakumar, who has now been appointed as the Head of Balance Sheet Optimisation for Treasury in ... More

GOVT BONDS
Bond prices fall
Bond prices fell by around 10 paise reacting to the rise in the price of global crude. Total traded volumes on the order matching system were at Rs 5,355 crore. Dealers said reports that price of global crude had spiked to $125 per barrel led to ... More

CREDIT MARKET
Decline in bank loan growth continues
Chennai, May 9 Loan growth during the second fortnight of this fiscal has been sluggish. According to the weekly statistical supplement of the Reserve Bank of India, bank credit for the fortnight ended April 25 was down by Rs 11,964 crore. ... More

SHORT TERM INSTRUMENTS
Call rates unchanged
The inter bank call rates closed at 5.75-6 per cent, unchanged from the previous close at 5.75-6 per cent. Call rates climbed up to 7.5-7.75 per cent during the day as banks were scrambling for cash on reporting Friday. In the three-day reverse ... More

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Cross Currency Rates

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ADB World Outlook 2008

ADB's Outlook on India

Union Budget 2008-09

Railway Budget 2008-2009

Economic Survey 2007-2008

In Focus
People's car

P-Note blues

Other Top Stories
Max New York rules out sectoral funds as investment option for now

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Agni V, next goal of DRDO

Textile exports to US may grow 10% as demand picks up

GSM user base growth dips in April as BSNL turns laggard

FIPB likely to advise I-Sec to exercise ‘automatic route’

Looking back
Apr. 27-May. 3
IDBI Bank Q4 net surges 15% on higher interest income

Bonds pause, await Policy cues; slowdown, inflation fears loom

Recoveries offset dip in treasury gain for IOB

Bank of India net rises 69% on all-round growth

Forex reserves fall by $663 m