The Hindu Business Line : Wednesday, October 22, 2008

MONEY & BANKING

RBI & OTHER CENTRAL BANKS: RBI staff stir paralyses clearing operations
Call, bond markets closed; volumes thin in forex market. Mumbai, Oct. 21 The one-day strike by the employees of Reserve Bank of India on Tuesday brought payment and settlement operations to a near standstill across ...

FOREX: Rupee flat against dollar
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NEW PRODUCTS & SERVICES: Kotak OM Life’s new product
Kotak Mahindra Old Mutual Life Insurance Company, a joint venture between Kotak Mahindra Bank and Old Mutual Plc, has launched a unit-linked product called Kotak Long Life. The product will have two variants — Kotak Long Life Secure Plus ...

FIXED DEPOSITS: NRI deposits up on higher rates, weaker rupee
Kochi, Oct. 21 NRI deposits in Indian banks have begun to rise sharply after lying dormant for six ...

CRR & BANK RATES: ‘RBI has sent out right signals with repo rate cut’
Chennai, Oct. 21 The Reserve Bank of India has sent out the right signals with the 100 basis point report rate cut, according to Mr M.V. Nair, Chairman and Managing Director, Union Bank of India. He said although the quamtum of cut was ...

LIFE INSURANCE: High interest cost weighs on LIC Housing
Mumbai, Oct. 21 LIC Housing Finance Ltd reported a 16 per cent increase in net profit at Rs 135.06 crore for the second quarter ended September 30, 2008, against Rs 116.37 crore in the year ...

INTEREST RATES: ‘Banks will slash interest rate, but not now’
Thiruvananthapuram, Oct. 21 The repo rate cut is a clear signal to slash lending rates, but it is debatable if banks would go the distance just yet, say ...

INSIGHT: Is the RBI going overboard to ease liquidity?
I believe banking institutions are more dangerous to our liberties than standing armies in ...

CREDIT RATING: Raters and auditors: Urgent reforms needed
Among the pillars of market economies are auditors and credit ...

CORPORATE BONDS: ING Vysya to raise Rs 95 cr
ING Vysya Bank Ltd is raising Rs 95 crore capital through issue foreign currency perpetual bonds. A bank release said the entire issue would be subscribed by the parent ING Bank NV. The bonds would have a call option at the end of ten years. ...

FARM CREDIT: Nabard releases Rs 703 cr
The National Bank for Agriculture and Rural Development (Nabard) has released a total of Rs 702.47 crore to client banks in Kerala under the Agriculture Debt Waiver and Debt Relief Scheme announced by the Centre. Of the total amount, Rs 423.96 ...

PEOPLE: New ED for Indian Bank
Mr Anup Sankar Bhattacharya has taken charge as Executive Director of Indian Bank.Mr Bhattacharya is a first class Honours degree holder in Agricultural science. He joined as a trainee officer in United Bank of India in 1971 and rose ...