The Hindu Business Line : Friday, September 19, 2008

MONEY & BANKING

LIFE INSURANCE: AIG bailout likely to impact Indian aviation
Large part of private civil aviation sector is lease financed by its subsidiary. Bangalore, Sept. 18 The financial bailout of the world’s largest insurer the American Insurance Group (AIG) is expected to have its reverberations on the ...

OVERSEAS INVESTMENTS: Overseas exposure by most Indian banks insignificant
‘ICICI Bank likely to see more marked-to-market losses’. Mumbai, Sept. 18 When ICICI Bank said it had an exposure of €57 million (approximately $80 million) in the senior bonds of Lehman Brothers, analysts were wondering what ...

LIFE INSURANCE: No immediate material impact, Tata AIG assures policyholders
Mumbai, Sept. 18 Tata AIG Life, an insurance venture between Tata Sons and American International Group (AIG), on Thursday sought to re-assure its policyholders that the Wall Street turmoil would not have any “immediate ...

INSIGHT: Ventilator to escalator: The intriguing dollar story
Here is a fascinating story. It was the US, in the early 1970s, that had redefined the rules of currency pricing and made it rest on economic fundamentals and free market mechanism. But today its currency is defying the very rules the rest of ...

GOVT BONDS: Sharp fall in bond prices
Bond prices fell by over Re 1 on higher oil prices and tight liquidity. A bond dealer with a public sector bank said that market participants were unwilling to take trading positions due to liquidity concerns. “Whenever there is Reserve ...

FOREX: Rupee down marginally
The rupee depreciated marginally against the dollar on Thursday, pulled down by the meltdown in global indices. The domestic currency opened lower at 46.63/65, and weakened further to touch an intra-day low of 46.79. It recovered to close ...

SHORT TERM INSTRUMENTS: Call rate ends at 10-10.25%
The inter-bank call rate closed at 10.00-10.25 per cent, against the previous close of 10.10-10.20 per cent. In the one-day repo auction under the first liquidity adjustment facility (LAF), the RBI received and accepted 39 bids worth Rs ...

FIXED DEPOSITS: Federal Bank hikes NRE, FCNR rates
Federal Bank has hiked interest rates for NRE term deposits and FCNR deposits by 0.50 per cent with effect from September 17. The revised rate of interest for NRE term deposits for one to two year maturity is 3.71 per cent, two to three year ...

FIXED DEPOSITS: Corporation Bank raises NRE term deposit rates
Corporation Bank has increased the rates of interests offered on NRE term deposits with effect from September 17, according to a press release here. The revised rates are as follows: 3.71 per cent (3.21 per cent) for a tenure of one year to ...

FOREIGN BANKS: RBS to complete re-branding of ABN-Amro this year
Mumbai, Sept. 18 The Royal Bank of Scotland (RBS) will complete the re-branding of ABN-Amro by the end of this year, Mr John Baines, Chief Executive, Regional Markets, Asia and Wealth Management, ...

FINANCIAL MARKETS: ‘Indian banking system insulated from global financial woes’
New Delhi, Sept. 18 The Finance Minister, Mr P. Chidambaram, on Thursday said the Indian banking system was “reasonably insulated” from financial market woes unfolding in the US. He, however, hinted at the possibility of a ...

GENERAL INSURANCE: Rajiv Arogyasri: Minister warns hospitals
Visakhapatnam, Sept. 18 The Andhra Pradesh Government is keen on proper implementation of the Rajiv Arogyasri health insurance scheme, meant for providing costly medical treatment to the poor, and any lapses on the part of private, or ...

PRIVATE BANKS: Axis Bank to scale up operations in N-E
Axis Bank plans to scale up its operations in the small and medium enterprises segment in the North-East region, according to Mr Niladri Sircar, Vice-President, SME-Advances, North Eastern States, ...

TRADE & LABOUR UNIONS: Bank strike: Conciliatory talks today
New Delhi, Sept. 18 The Government has called the bank unions and the Indian Banks’ Association (IBA) for conciliatory talks to prevent the two-day all-India bank strike proposed for September 24 and ...

FINANCIAL MARKETS: ‘Vibrant fixed income market needed’
Chennai, Sept. 18 The current turmoil in financial markets, commodity price fluctuations and high inflation will make it difficult for municipalities and urban local bodies to raise finance for their infrastructure projects, said Mr ...

PRIVATE BANKS: Lehman exposure not to impact ICICI Bank much
Bigger risk could be its other US investment banks. The shares of the country’s largest private bank – ICICI Bank took a knock over the last couple of days on the back of the credit turmoil in the US. ICICI Bank has stated that its ...

FIXED DEPOSITS: UCO Bank hikes deposit rates
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LIFE INSURANCE: Micro insurance product launched
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FIXED DEPOSITS: LVB increases deposit rates
Lakshmi Vilas Bank has effected a 50 basis points increase in its domestic term deposits. The revision is in respect of deposits in the two to three year time bucket. The rate has been raised from 10 per cent to 10.5 per cent for the ...

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Markets (Sept 18)

Nifty (at close)	4038.15(+29.30)
US Dollar (Buy/Sell)	46.74/75
Brent crude (a bbl) Rs	4,278
Gold (a gram) Rs	1,177
Silver (a kg) Rs	20,000

Cross Currency Rates

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Sep. 7-Sep. 13
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