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MONEY & BANKING
RBI & OTHER CENTRAL BANKS:
RBI moves to inject liquidity to MFs; banks not enthused
Only 4 bids from banks worth Rs 3,500 cr. Mumbai, Oct 14 The scheme announced by the Reserve Bank of India on Tuesday to provide liquidity to mutual funds, which are facing redemption pressure, turned out be a damp ...
RBI & OTHER CENTRAL BANKS:
Liquidity situation is comfortable: Subbarao
New Delhi, Oct. 14 The Reserve Bank of India Governor, Dr Duvvuri Subbarao, on Tuesday said that the liquidity situation was comfortable and that financial markets were under control following measures in the past few days to infuse ...
FINANCIAL MARKETS:
‘Domestic factors to pressure Indian banks’
Crisil sees limited vulnerability to global exposure. Mumbai, Oct. 14 The prevalent domestic factors are more responsible for the pressures on the Indian banking system rather than global factors, says rating agency ...
LIFE INSURANCE:
LIC on buying spree, hikes stake in pivotals
Insurer made purchases worth Rs 12,000 cr. Mumbai, Oct. 14 Life Insurance Corporation of India, the largest domestic institutional investor, continued to pile up shares in stock market heavyweights, notwithstanding IRDA’s proposal that it ...
CRR & BANK RATES:
Funds welcome RBI largesse
Could help mutual funds ward off redemption pressure. Mumbai, Oct. 14 Reserve Bank of India on Tuesday turned out to be a saviour of sorts for cash hit-mutual funds in the country who are struggling to cope with redemption pressure ...
FOREX:
Rupee tad higher
The forex market was choppy on Tuesday as the rupee tracked the equities market. The currency opened higher and gained substantially during the day. But once the stock market rally petered out, the demand for dollars started. “After about ...
GOVT BONDS:
Bond prices fall
Bond prices fell by Re 1 on fears that the RBI will announce an SLR cut, as this would reduce demand for the Government securities, said a dealer with a private bank. Another factor was the view that with the stock markets staging a recovery, ...
SHORT TERM INSTRUMENTS:
Call rate ends lower
Call rates ended lower at 8.75-9 per cent, against the previous close of 9.75-10 per cent. In the one-day repo auction under the first liquidity adjustment facility (LAF), the RBI received and accepted 43 bids worth Rs 45,005 crore. There were ...
FINANCIAL PERFORMANCE:
South Indian net rises 45% in Q2
Kochi, Oct 14 South Indian Bank has recorded a 45 per cent growth in net profit and 27 per cent growth in total income during the second quarter of the current ...
CRR & BANK RATES:
Assocham seeks 200 basis points cut in CRR, repo rate
Mumbai, Oct. 14 The Associated Chambers of Commerce and Industry (Assocham) has sought a 200-basis point cut in CRR and repo rate for India Inc to tide over the current ...
CREDIT MARKET:
ADB approves $71-m supplementary loan for M.P. project
New Delhi, Oct. 14 The Asian Development Bank (ADB) has approved a $71-million supplementary loan for an urban water supply project in ...
TRADE & LABOUR UNIONS:
SBI officers to go on strike from Oct 20
Thiruvananthapuram, Oct. 14 Over 80,000 officers of State Bank of India and its associate banks under the banner of the All-India State Bank Officers’ Federation (AISBOF) will go on a country-wide indefinite strike from October 20, ...
CREDIT MARKET:
Final norms on credit counselling centres soon
Mumbai, Oct. 14 The Reserve Bank of India will soon announce the final guidelines on credit counselling centres, according to Mr B. P. Bijayendra, CGM, Rural Planning and Credit Department, RBI. He was speaking at a seminar on ...
FIXED DEPOSITS:
LVB hikes deposit rates
Coimbatore, Oct. 14 Lakshmi Vilas Bank is effecting an upward revision in its domestic deposit rate with effect from ...
MERGERS & ACQUISITIONS:
RMoney picks up 15% in HKMEx
Mumbai, Oct. 14 Reliance Money has picked up 15 per cent stake in the yet-to-be launched Hong Kong Mercantile Exchange for an undisclosed ...
FINANCIAL MARKETS:
Can Govts, central banks take out risk?
It started with delayed mortgage payments, delinquencies and foreclosures, soon spread to credit seizures in interbank markets as banks realised the illiquidity of their mortgage assets and CDOs (not to speak of their toxicity) and the ...
TECHNICAL ANALYSIS:
Short-term strength in rupee
It was absolute pandemonium in foreign exchange markets last week. Extreme risk-aversion caused unwinding of the yen carry trade, making the yen strengthen to 97.9 against the dollar, the dollar strengthened as money flowed into US equities ...
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