The Hindu Business Line : Wednesday, June 25, 2008

FOREX
Rupee faces downward pressure
There was plenty to unsettle the foreign exchange market over the past fortnight with the Reserve Bank of India hiking the repo rate by 25 basis points, inflation at a 13-year high, sell-off in the equity markets, political skirmishes and so ... More

Rupee ends flat
The rupee was flat as the central bank sold dollars in order to prevent volatility. Some foreign banks were seen buying dollars as they wanted to take advantage of the difference between the dollar’s value in the Indian and foreign markets, ... More

CREDIT POLICY
Monetary policy vital for taming inflation: Montek
New Delhi, June 24 The Planning Commission Deputy Chairman, Mr Montek Singh Ahluwalia, on Tuesday said that monetary policy has a role to play in taming inflation, which has now surged to a 13-year high of 11.05 per cent. “High ... More

FINANCIAL PERFORMANCE
Higher provisions for NPAs drag down IndusInd Q4 net
Mumbai, June 24 Dragged down by higher provisions for non-performing assets, IndusInd Bank has registered a 32.47 per cent decline in net profit at Rs 14.45 crore in the fourth quarter of 2007-08, down from Rs 21.40 crore in the previous ... More

LIFE INSURANCE
‘ICICI Pru’s mobile payments facility a hit’
Coimbatore, June 24 Within two months of enabling its policy holders to pay premiums through their mobile phones, ICICI Prudential Life Insurance observed that this service has turned out to be a boon to its customers.“The total ... More

INTEREST RATES
US interest rates: Fed likely to pass
As ever, financial markets the world over are all eyes and ears for the current meeting of the Federal Open Market Committee (FOMC), which decides US interest rates.In recent days, FOMC members, led by its (and the Fed) Chairman, Mr Ben ... More

GOVT BONDS
Bonds recover on short covering
The bond market saw some recovery due to short covering, but the sentiment continued to be bearish. The bond yields moved up because of statements which seemed to indicate that the central bank will take measured steps to tame inflation, said ... More

CRR & BANK RATES
Loans set to become dearer
RBI hikes repo rate, CRR; priority is combating inflation More

Hike will rein in credit growth: RBI
More

CORPORATE BONDS
Religare Finvest issues CCDs for Rs 100 cr
New Delhi, June 24 Religare Finvest Ltd (RFL), a non-banking finance company, today announced that it has issued compulsorily convertible debentures (CCDs) for Rs 100 crore to Standard Chartered Bank, Mauritius.The CCDs will form part ... More

NON-PERFORMING ASSETS
NIS Sparta to train debt recovery agents
New Delhi, June 24 The Indian Institute of Banking and Finance (IIBF) has accredited NIS Sparta (a Reliance ADA group company) to conduct 100 hours of mandatory training for debt recovery agents at various metros.As per the IIBF ... More

SHORT TERM INSTRUMENTS
Call rate closes higher
The inter-bank call rate ended at 8.20-8.25 per cent, higher than the previous close of 8.00-8.25 per cent. In the one-day repo auction under the liquidity adjustment facility, the RBI received and accepted 32 bids worth Rs 38,730 crore. There ... More

OVERSEAS INVESTMENTS
PNB gets nod for rep office in Norway
New Delhi, June 24 Punjab National Bank (PNB) has received the Reserve Bank of India’s approval for opening a representative office in Norway.“Now that we have RBI’s approval, we will approach the regulatory ... More

ALLIANCES & JOINT VENTURES
United Bank, Kotak Mahindra tie up
United Bank of India has signed a memorandum of understanding with Kotak Mahindra Asset Management Company for the distribution of its various mutual fund schemes from its branches. The tie-up would enable the bank to offer financial solutions to ... More

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Looking back
Jun. 15-Jun. 21
Yield keeps rising as oil prices, inflation soar

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‘Banks now have greater ability to absorb credit losses’

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Corporate debt listing, issuance, simplified

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