The Hindu Business Line : Tuesday, June 17, 2008

FOREX
Rupee flat against dollar
The rupee was flat against the dollar on Monday as demand from oil companies were met by inflows into the domestic stock market. The rupee opened at 42.88/89, but fell to close at 42.95/96, almost unchanged from the previous close of 42.94/95. ... More

INSURANCE
‘Agents must explain policy to the insured’
Coimbatore, June 16 How often does one sign a document – be it an insurance proposal form, a loan application or a legal notice – blindly? A majority (including professionals and literates) rarely read the fine print before ... More

LIFE INSURANCE
6 more life insurance ventures set for foray
There’s huge unmet demand, says Chidambaram More

PUBLIC SECTOR BANKS
IOB to ginger up derivatives desk
Chennai, June 16 When Mr S.A. Bhat took over as Chairman and Managing Director of Indian Overseas Bank about a year ago, he announced that the setting up of a ‘syndication desk’ in the bank, which would book large loans and ... More

17 new Corp Bank branches in TN
Corporation Bank has plans to open 17 branches in Tamil Nadu, according to Mr B. Sambamurthy, Chairman and Managing Director of the bank. A bank release said here on Monday that he was speaking at the inauguration of the 999th branch of the bank ... More

New GM for Corporation Bank
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Renu Challu, MD, State Bank of Hyderabad
Hyderabad, June 16. Ms Renu Challu has assumed charge as Managing Director of State Bank of Hyderabad (SBH) here today. She succeeds Mr Amitabh Guha. She joined in State Bank of India as Probationary Officer in the year 1972 and held ... More

FINANCIAL INSTITUTIONS
APSFC sets Rs 1,250-cr target this year
Visakhapatnam, June 16 The Andhra Pradesh State Financial Corporation (APSFC) has set itself the target of sanctioning Rs 1,250 crore to entrepreneurs during the current financial year, according to Mr Giridhar, Managing Director.He ... More

INTEREST RATES
‘Existing rate structure cannot be sustained’
Kolkata, June 16 The existing interest rate structure cannot be sustained for long as it would lead to a squeeze on the margins of banks, said Mr P.K. Gupta, Chairman and Managing Director, United Bank of India. According to him, ... More

YES Bank hikes PLR, deposit rates
Coimbatore, June 16 YES Bank has increased both its prime lending rate and fixed deposit interest rate by 50 basis points each with immediate effect. The increase would take the bank’s PLR to 16 per cent. The one-year deposit rate ... More

GOVT BONDS
Bond prices up
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SHORT TERM INSTRUMENTS
Call rates close lower
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CREDIT CARDS & DEBIT CARDS
StanChart ties up with Tata AIG
Standard Chartered Bank has launched the ‘Plus Extended Protection Plan’ in association with Tata AIG General Insurance. The product will provide credit and debit card customers “lost card” insurance for the period prior ... More

FIXED DEPOSITS
Lakshmi Vilas hikes rates on short-term deposits
Coimbatore, June 16 Lakshmi Vilas Bank has decided to effect a 25-basis point upward revision in rates for deposits of tenure 46 - 90 days and the one – two years and a downward revision in those for 91 to 270 days from June ... More