The Hindu Business Line : Thursday, June 26, 2008

FARM CREDIT
IOB farm loan waiver inspection
In connection with the Union Government’s agricultural debt waiver and debt relief scheme 2008, the General Manager of Indian Overseas Bank, Mr R. Krishnan, visited Kandiyur and Kalyanapuram branches of IOB on June 21 to supercheck the list ... More

OVERSEAS BORROWINGS
‘Raising funds thru ECB route may slow down’
Mumbai, June 25 Indian corporates’ appetite for raising funds through the external commercial borrowing route may lessen this year, as the interest rate differential between overseas and domestic interest rates has reduced considerably, ... More

FOREX
Rupee gains 23 paise
The rupee appreciated by about 23 paise after the Reserve Bank of India raised repo rate and CRR. The rupee opened at 42.88/90 and touched the day’s low of 42.92/93, before closing at 42.73/74, higher from the previous close of ... More

FINANCIAL PERFORMANCE
StanChart net rises 25 %
New Delhi, June 25 Standard Chartered Bank has reported a 25 per cent increase in its net profit for the fiscal 2007-08 at Rs 1,706 crore compared with previous year’s Rs 1,364 crore. The bank’s balance sheet has also expanded by ... More

South Canara Bank net up 9.91%
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LIFE INSURANCE
Good show by LIC Kottayam divn
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RBI & OTHER CENTRAL BANKS
RBI to remain closed on July 1
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PRIVATE BANKS
ING Vysya Bank branches
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IndusInd Bank raises Rs 222 crore through GDR issue
Each GDR represents 1 share More

INTEREST RATES
Banks to take a call on interest rate hike soon
Mumbai, June 25 With the Reserve Bank of India hiking the CRR and the repo rate, banks are set to take a decision on increasing interest rates in the coming days.ICICI Bank will watch its cost of funds to decide when to raise lending ... More

GOVT BONDS
G-Secs get more investor-friendly
Mumbai, June 25 Government securities, including the relief or savings bonds issued by the Government of India, have now become more investor friendly with additional features such as automatic redemption facility and nomination facility. ... More

Bonds down 50 paise
Bond prices opened the day about a rupee lower than the previous close but recovered to end the day just 50 paise down. Prices initially reacted to the RBI’s hike of the repo rate and the Cash Reserve Ratio. Market participants said that ... More

CRR & BANK RATES
Not convincing enough
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‘CRR, repo rate hike will curb inflation’
New Delhi, June 25 The Finance Ministry on Wednesday said that the latest monetary measures of the Reserve Bank of India are expected to have a “salutary effect” on inflation. It also noted that the RBI’s move to ... More

Not everyone is unhappy over CRR hike
Corporates have lined up options to even it out More

CREDIT MARKET
Borrowing costs of States to soar on repo rate hike
Upward pressure on yields seen due to low interest in development loans More

SHORT TERM INSTRUMENTS
Call rate ends higher
The inter-bank call rate ended at 9.00-9.10 per cent, higher than the previous close of 8.20-8.25 per cent. In the one-day repo auction under the liquidity adjustment facility, the RBI received and accepted 38 bids worth Rs 46,990 crore. There ... More

OUTLOOK
Higher costs may be passed on to borrowers
RBI move: Banks not to face any liquidity crunch More