Business Daily from THE HINDU group of publications
Tuesday, August 19, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, August 19, 2008 ePaper | Mobile/PDA Version | Audio |
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MONEY & BANKING FOREX: Rupee loses 60 paise Heavy dollar-buying by oil companies amid thin volumes. Mumbai, Aug. 18 The rupee lost nearly 60 paise against the greenback on Monday following heavy dollar-buying by oil companies and other corporates. Though volumes were low, spot prices ... TRADE & LABOUR UNIONS: SBI officers’ strike hits branch operations Mumbai, Aug. 18 The one-day strike called by the officers of the State Bank of India and its associates affected branch operations across the country on Monday. The strike was called to protest the merger of State Bank of Saurashtra with ... FINANCIAL SERVICES: Union Bank to offer wealth management services Ties up with Wealth Advisors to tap high networth individuals. Bangalore, Aug.18 Union Bank of India plans to spread its overseas operations to five to ten more locations in addition to its existing branch in Hong Kong and representative ... GOVT BONDS: Bond prices up Bond prices gained by 34 paise on a day that witnessed thin trading volumes. Total traded volumes on the order matching system were down at Rs 3,005 crore (Rs 5,405 crore) when trade resumed after a prolonged weekend. According to bond dealers, ... FIXED DEPOSITS: Canara Bank hikes deposit rates Canara Bank announced the increase in its interest rates for term deposits ranging from 25 to 50 basis points for different tenors with effect from Tuesday. The bank said term deposits for tenors of one year and up to 499 days will earn an ... LIFE INSURANCE: ICICI Pru extends tie up ICICI Prudential Life has extended its corporate agency tie up with the Muthoot Group in 6 additional States for the distribution of its insurance products. ICICI Prudential Life has partnered with the Muthoot Group for the past six years in ... SHORT TERM INSTRUMENTS: Call rate ends higher The inter-bank call rate closed at 9.50-9.60 per cent, higher than the previous close of 9.30-9.40 per cent. In the one-day repo auction under the liquidity adjustment facility, the RBI received and accepted 25 bids for Rs 34,725 crore. There ... PEOPLE: Deutsche Bank appointment Deutsche Bank has appointed Mr Prashant Joshi as Head of Private and Business Clients, India. Mr Joshi was previously with Standard Chartered Bank, India, where he was the General Manager of SME Banking. Before his stint with Standard Chartered ... TRADE & LABOUR UNIONS: Strike to affect banking transactions this week ‘Strikes definitely affect foreign exchange dealings’. Coimbatore, Aug. 18 While the bank unions contend that the strike by a section of the employees’ association on Monday and proposed strike by the AIBEA (All India Bank ... PUBLIC SECTOR BANKS: Oriental Bank to focus on low-cost deposits mobilisation The focus of Oriental Bank of Commerce in the current year will be on vigorous lending to mid-corporates, SMEs and priority sector segments as well as mobilisation of low-cost deposits, according to Mr Alok K. Misra, Chairman and Managing ... PRIVATE BANKS: Lend more to women on easier terms, KVB told New Delhi, Aug. 18 Karur Vysya Bank (KVB) must develop special products for bringing more women into the fold of the banking system, Ms Sheila Dixit, Delhi Chief Minister, said here today. ... OUTLOOK: Karnataka Bank targets Rs 10,250-cr forex biz Mangalore, Aug. 18 Karnataka Bank Ltd has targeted a foreign exchange merchant turnover of Rs 10,250 crore during the current financial year, envisaging growth of Rs 2,375 crore for 2008-09. ... TRADE & LABOUR UNIONS: Strike in SBI Bengal circle ESOPS: South Indian Bank nod for ESOP, bonus issue Kochi, Aug. 18 The 80th AGM of South Indian Bank has approved the recommendations of the board of directors to effect bonus issue, employee stock option scheme and 30 per cent dividend to the existing shareholders. ... Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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