The Hindu Business Line : Tuesday, September 02, 2008

MONEY & BANKING

PEOPLE: Subbarao to head RBI
Appointed Governor for three years. New Delhi, Sept. 1 The Finance Secretary, Dr Duvvuri Subbarao, will be the next Reserve Bank of India Governor, replacing Dr Y.V. Reddy, who demits office on September 5, the Union Finance Minister, Mr P ...

CORPORATE BONDS: Union Bank to raise Rs 1,000 cr via bonds
Unveils new logo; to scale up retail operations. Mumbai, Sept.1 Union Bank of India is planning to raise Rs 1,000 crore by October. ...

FOREX: Rupee breaches 44
The rupee depreciated by around 25 paise against the greenback on heavy dollar demand from foreign banks and importers. The domestic currency breached the psychological 44 level and opened weak at 44.08/10. It dropped to 44.24/25 during the day ...

GOVT BONDS: Bonds gain on falling crude
Bonds gained by around 60 paise with falling crude prices generating a lot of buying interesting in the market, said bond dealers. There was expectation in the market that reduction in oil prices will moderate inflation, said a dealer with a ...

RBI & OTHER CENTRAL BANKS: Payment systems notified
The Payment and Settlement Systems Act, 2007 and the Payment and Settlement Systems Regulations, 2008 have been notified and have come into effect from August 12, said a notification issued by the Reserve Bank of India on Monday. The Payment and ...

FOREIGN BANKS: Finacle solution for Israel bank
Israel Discount Bank has selected Infosys’ Finacle e-banking solution to accelerate the growth of its corporate/SME and retail banking business through the Internet and mobile channels. It will be offered as a portal-enabled solution on ...

SHORT TERM INSTRUMENTS: Call rates end lower
The inter-bank call rate closed at 9.25-9.50 per cent, against the previous close of 9.40-9.60 per cent. In the one-day repo auction under the liquidity adjustment facility, the RBI received and accepted 20 bids worth Rs 22,055 crore. There were ...

PUBLIC SECTOR BANKS: Corporation Bank expands service outlet network
Mangalore, Sept. 1 Corporation Bank opened 101 service outlets in 12 States on Monday. ...

LIFE INSURANCE: Market volatility on ULIPs slows LIC business
Kolkata, Sept. 1 The sale of unit linked policies (ULIPs) by the eastern zone of Life Insurance Corporation of India has started to pick up from August, with the segment contributing 40-50 per cent of its total business. ...

CO-OPERATIVES: SICB branches come under Saraswat Coop Bank
Mumbai, Sept. 1 The branches of South Indian Cooperative Bank (SICB) have started functioning as Saraswat Cooperative Bank’s branches from ...

LIFE INSURANCE: LIC, S. Zone to be paperless office in 2 years
Chennai, Sept. 1 Life Insurance Corporation (South Zone) would start the second phase of enterprise document management system and expects the entire zone to be a paperless office in the next two years. ...

FOREIGN BANKS: Barclays to begin private banking biz
Mumbai, Sept.1 Barclays PLC said on Monday that it would start its private banking business in India by the fourth quarter of this calendar year and will hire more professionals here. ...