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Saturday, September 06, 2008
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MONEY & BANKING

RBI & OTHER CENTRAL BANKS: ‘Managing inflation is foremost challenge’
Mumbai, Sept. 5 Both mother nature and the Mumbai press ensured that Dr D. Subbarao, the new Governor of Reserve Bank of India, got a ‘thunderous’ welcome as he assumed charge today, signing the 60-year old ceremonial scroll at the ...

OUTLOOK: Barclays Capital sees more monetary tightening
New Delhi, Sept. 5 A Government battling inflation will go in for “further substantial” tightening of monetary policy over the next six months, Barclays Capital has predicted in a research report on the Indian ...

RBI & OTHER CENTRAL BANKS: Reddy highlights dilemma of monetary and public policy
‘Stint as RBI Governor was gratifying learning curve’. Mumbai, Sept. 5 At his farewell meet with the Mumbai media on Thursday evening, the outgoing Governor of the Reserve Bank of India, Dr Y.V. Reddy, made it clear that he would ...

GENERAL INSURANCE: We need to build on capacities created in health sector: PM
Launches Apollo Reach hospitals; annual premium under UHIS down. Chennai, Sept. 5 The Universal Health Insurance Scheme (UHIS), to cover 10 lakh people from families below the poverty line, has been liberalised further to take medical care to ...

ALLIANCES & JOINT VENTURES: PNB Gilts stake sale process on, says bank
Tie-up with BSNL for bill payment via ATM network. New Delhi, Sept. 5 Punjab National Bank on Friday entered into a tie-up with State-owned BSNL to enable the latter’s subscribers to utilise the bank’s ATM network for paying their ...

FOREX: NSE currency futures trade drifts to realistic levels
‘Client participation is yet to pick up’. Mumbai, Sept. 5 Trade in currency futures on the NSE averaged 39,800 contracts a day this week, against 70,000 contracts recorded last Friday, on the first day of introduction of this ...

FOREX: Rupee sheds 30 paise
The rupee depreciated by 30 paise on Friday against the greenback due to sustained demand for the dollar. The currency opened lower at 44.58, but strengthened to touch an intra-day high of 44.28. However, it then weakened to touch an intra-day ...

FOREIGN BANKS: RBI report defends policy on foreign banks
Chennai, Sept. 5 The Report on Currency and Finance released by the Reserve Bank of India makes a powerful case of defending the RBI’s policy with regard to foreign banks. Arguing that its procedures were non-discriminatory and very ...

GENERAL INSURANCE: Mis-selling of policies coming down: IRDA
Hyderabad, Sept. 5 Mis-selling of insurance policies is a serious issue in the insurance industry, according to Mr J. Hari Narayan, Chairman, Insurance Regulatory and Development Authority ...

GOVT BONDS: Bond prices end a little lower
Bond prices ended the day slightly lower on profit booking. Total traded volumes on the order matching system were at Rs 7,565 crore (Rs 12,555 crore). Bond dealers said that prices rose earlier in the day as inflation eased slightly to 12.34 per ...

CREDIT CARDS & DEBIT CARDS: Union Bank pre-paid cards


SHORT TERM INSTRUMENTS: Call rates end lower


RBI & OTHER CENTRAL BANKS: World Bank project to boost agri sector
A World Bank-aided agriculture project is expected to give a boost to the agriculture sector in Perambalur district.The Agriculture Modernisation and Water Bodies Restoration and Management Project, is to be taken up in the Chinnaru ...

CREDIT MARKET: DCB plans to lower credit growth, check rise in NPAs
Kolkata, Sept. 5 The Development Credit Bank plans to lower its credit growth to 20 per cent in 2008-09, down from 45 per cent in 2007-08, to keep a check on the rise in non-performing assets (NPA), according to Mr Gautam Vir, Managing ...

FOREX: Forex reserves down $2 b
Mumbai, Sept. 5 The foreign exchange reserves decreased by $1.97 billion to $295.309 billion for the week ended August 29, according to figures released by the Reserve Bank of India in its Weekly ...

PRIVATE BANKS: ING Vysya Bank aims to grow deposits
Kolkata, Sept. 5 ING Vysya Bank targets 20-25 per cent growth in advances in 2008-09, up from 22 per cent in 2007-08, according to Mr Vaughn Richtor, Managing Director and Chief Executive Officer of the ...

DERIVATIVES MARKETS: Currency futures — Questions for the RBI
The introduction of currency futures is probably the first of the last set of steps towards in the country’s tryst with capital account convertibility. The exchange rate, which was considered sacrosanct by the RBI in the days of forex ...

CREDIT MARKET: Credit scheme for micro units
The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has launched a new scheme of risk sharing facility for micro and small enterprises, as part of the World Bank of Line Credit. Under this scheme micro and small and ...






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Markets (Sep 05)
Nifty (at close)4352.30(-95.45)
US Dollar (Buy/Sell)44.64/65
Brent crude (a bbl) Rs4,685
Gold (a gram) Rs1,076
Silver (a kg) Rs19,675

Cross Currency Rates

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Remembering Ramachander

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Looking back
Aug. 24-Aug. 30
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States’ finances face strain

Pvt insurers for alternative to motor pool arrangement

Currency Futures trade to go live today on NSE



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