The Hindu Business Line : Saturday, May 24, 2008

FARM CREDIT
Loan waiver: Banks start collecting details
Mumbai, May 23 Following the announcement of the Agricultural Debt Waiver and Debt Relief Scheme by the Union Government today, banks have started collecting details about the loans disbursed and the eligible borrowers. As per the scheme, ... More

No doubts on waiver scheme, says PNB chief
New Delhi, May 23 Punjab National Bank on Friday said that it does not envisage any problems in the implementation of the farm debt waiver and debt relief scheme announced by the Government.“The guidelines issued on Friday have ... More

FOREX
Forex reserves rise by over $1 b
Mumbai, May 23 The country’s foreign exchange reserves increased by $1.381 billion to touch $314.081 billion for the week ended May 16, 2008, according to the RBI’s Weekly Statistical Supplement. This is the second week in a ... More

Rupee range-bound
The fall in international oil prices and flat domestic inflation figures, helped the rupee gain by about 15 paise on Friday. There was also profit booking as importers sold dollars, said a forex dealer with a private bank. The rupee was ... More

INSURANCE
Future bets on ‘mallassurance’
Future Generali Insurance has kick-started the sale of its insurance products at malls. The company has begun selling insurance policies at 43 Future Money outlets. Future Generali will start by selling simple, over- the-counter life and non-life ... More

FINANCIAL PERFORMANCE
City Union Bank profit rises 42% at Rs 102 cr
Plans joint venture with Sri Lankan bank More

Federal Bank total income up 38.33%
Kochi, May 23 The net profit of Federal Bank has registered an increase of 25.73 per cent touching Rs 368.05 crore as on March 31, as against Rs 292.73 crore achieved in the previous year. Giving details of the audited financial ... More

LIFE INSURANCE
LIC aims to increase income from rented building property
More

DEBT MARKET
Bond prices fall
Bond prices fell slightly as traders remained cautious about inflation numbers and the Rs 10,000-crore auction held on Friday. Total traded volumes on the order matching system were at Rs 1,800 crore. Domestic inflation for the week-ended May 10 ... More

SHORT TERM INSTRUMENTS
Call rate ends lower
The inter bank call rate closed at 5.50-5.60 per cent, against the previous close at 6-6.05 per cent. In the three-day reverse repo auction under the liquidity adjustment facility, the RBI received and accepted 28 bids for Rs 29,610 crore. There ... More

MERGERS & ACQUISITIONS
Doha Bank to pick up stake in Indian banks
Chennai, May 23 Doha Bank is gearing up for a big splash in India—it intends to pick up stakes in Indian banks, strengthen its recently-acquired stock and commodity broking company, set up a non-banking finance company, an asset ... More

OUTLOOK
‘No increase in interest rates seen in medium term’
Bank of Baroda targets Rs 3.10 lakh cr business this fiscal More

PEOPLE
In defence of Alan Greenspan
Critics who link the former Fed chief, Mr Alan Greenspan’s policies and the sub-prime crisis couldn’t be more wrong, says G. RAMACHANDRAN, arguing that it was the declining economy, a fallout of the Iraq war, that turned prime borrowers i nto sub-prime casualties. More

5 GMs at Corporation Bank
Five Deputy General Managers of Corporation Bank have been promoted as General Managers of the bank. A bank release said here that Mr C.V.R. Rajendran, Mr Harjinder Singh Saini, Mr P. Ramachandra Nayak, Mr B.N. Satish and Mr Clement G. Pinto have ... More