Business Daily from THE HINDU group of publications
Wednesday, September 10, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Wednesday, September 10, 2008 ePaper | Mobile/PDA Version | Audio |
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MONEY & BANKING RBI & OTHER CENTRAL BANKS: Inflation momentum slowing: RBI Governor ‘India growth story is intact and credible’. Mumbai, Sept. 9 The current high level of inflation is short-term in nature and monetary policy measures will have an effect on it, said Dr D Subbarao, Governor, Reserve Bank of India. ... CREDIT MARKET: State-owned power units turning to banks for funds Lending rates of specialised agencies higher. Bangalore, Sept 9 State-owned power producers are switching to the banking sector for sourcing project funds, in view of high interest rates from specialised funding ... CONSUMER FINANCE: Toyota plans to bring vehicle financing arm to India Co running pilot project of CNG-run Innova. Mumbai, Sept 9 Toyota is looking at bringing in its vehicle-financing arm, Toyota Financial Services, to India in its bid to boost market share . ... TECHNICAL ANALYSIS: Rupee decline to continue The rupee moved conclusively below the 44-mark last week, spurred by dollar demand from importers. The spectacular rally in the dollar was the other factor that contributed to the rupee weakness. ... OUTLOOK: All Bengal gram panchayats may have banking facilities soon Committee to submit report to Govt by Sept 15. Kolkata, Sept 9 West Bengal’s Gram Panchayats (GPs) having no bank branches will soon have banking facilities extended to them if the recommendations of the committee on ‘Extension of ... FOREX: NSE may launch futures trade in more currencies Eyes pound sterling, yen, Chinese yuan. The National Stock Exchange (NSE) hopes to launch currency futures in certain currencies other than the US dollar in the coming days, a top official of the exchange said here on Tuesday. Last month, ... LIFE INSURANCE: Max New York opens in Anantapur FINANCIAL SERVICES: Artha Money plans more offices Artha Money, the financial services company, is planning to have around 50 offices in the country during the current financial year. Addressing presspersons at the launch of its office in Mangalore on Tuesday, Mr Venkatesh Vaidyanathan, Chief ... FOREX: Rupee touches two-year low The rupee closed lower after touching levels not seen in last two years due to lack of dollar inflows coupled with strong dollar demand. The rupee opened at 44.70 and touched a low of 44.90, a level last seen two years ago. The rupee ended trade ... GOVT BONDS: Bond prices move up Bond prices gained by around 70 paise buoyed by falling oil prices and Dr Subbarao’s comments on inflation. There was also a lot of demand by banks for government securities to meet their SLR requirements, said ... SHORT TERM INSTRUMENTS: Call rates close lower Call rates closed lower at 8.50-8.75 per cent, against the previous close of 9.00-9.10 per cent. In the one-day repo auction under the liquidity adjustment facility, the RBI received and accepted 2 bids worth Rs 3,025 crore. In the one-day ... HOUSING FINANCE: Reverse mortgage: NHB to tie up with more NGOs New Delhi, Sept. 9 National Housing Bank (NHB) plans to roll out counselling centres in five more cities to create awareness about “reverse mortgage” among senior citizens and provide unbiased advice to them about this product, ... LIFE INSURANCE: IDBI Fortis Life to expand Mumbai, Sept. 9 IDBI Fortis Life Insurance is planning to expand its branches to 100 from the existing 35 by the end of the current fiscal, Mr G. V. Nageswara Rao, MD and CEO of the company, said. ... PUBLIC SECTOR BANKS: BoB plans to grow CASA deposits Mumbai, Sept. 9 As interest margins are likely to be under pressure this fiscal due to rising interest rates, Bank of Baroda is taking steps to increase its share of low cost deposits, improve its return on advances, and reduce delinquencies. ... FINANCIAL SERVICES: Union Bank unveils wealth management services Union Bank of India will be offering wealth management services to its high net worth customers here. ... GENERAL INSURANCE: ‘Response to terrorism policy good’ Coimbatore, Sept. 9 Click2insure.in has provided terrorism policy for free to about 16,000 applicants since its launch in ... RBI & OTHER CENTRAL BANKS: Off-budget liabilities pose challenges to fiscal operations Close on the heels of the cautionary observations of the Prime Minister’s Economic Advisory Council on the burgeoning growth of off-budget liabilities of the Government, the central bank has said that this might upset the fiscal ... FINANCIAL MARKETS: Keynes poised to come back? Over the weekend, it ‘nationalised’ the two federally-sponsored housing mortgage financing institutions, Fannie Mae and Freddie ... FINANCIAL INSTITUTIONS: Stake sale buzz lifts IFCI The stock price of IFCI witnessed a sharp rise on Tuesday as strategic sale talk once again resurfaced. The stock went up 5.7 per cent to Rs 48.9 against the previous day’s close of Rs 46.25. Trading volumes also jumped sharply to 2.15 ... Comments & Letters to the Editor to: bleditor@thehindu.co.in Subscribe to: Business Line |
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